This does not mean that Aben is abandoning the Forrest Kerr Gold Project. It is the Company’s desire to expand the project base to facilitate exploration on a year-round basis. First, the Company would like to thank the shareholders for their understanding and patience as we start the process of identifying new gold projects with great exploration upside and potential.
Project planning pro work duration update#
The Optionors shall retain a 1.5% Net Smelter Returns Royalty, of which the Company may purchase 0.5% at any time for $600,000.Īben Resources would like to provide a corporate update on the Company’s exploration plans for 2021 and going forward. (iv) $55,000 and 100,000 Shares on the second anniversary of TSXV approval. (iii) $24,000 and 100,000 Shares on the first anniversary of TSXV approval and (ii) 120,000 Shares upon TSX Venture Exchange (“TSXV”) approval Under the terms of the Agreement, the Company may acquire 100% right, title, and interest in and to the Property by paying to the Optionors a total of $97,000 and issuing to the Optionors a total of 320,000 common shares as follows: Age determination (by Sanborn et al, 2004) dates this sedimentary belt and assigns it to the Balmer Assemblage which is host to the gold mines in the Red Lake Camp. This deep-seated structure (named the “E-1 Extensional Fault”) that occurs along this trend was delineated by seismic surveys and is considered a third deep-tapping structure that may have provided fluid pathways for gold mineralization to the mines and recent discoveries in the region. This area has been recently identified by the “Ministry of Energy, Northern Development and Mines Recommendations for Exploration 2020-2021” for its deep-seated structural similarities that are associated with the Red Lake Gold Camp and Great Bear Resource’s Dixie Gold Project. The property is 60km north of the town of Red Lake and is located 15km east of the all-weather Nungesser Road. The Property consists of 5 contiguous mining claims covering approximately 1,881 hectares. (TSX-V: ABN ) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to announce that it has formalized an Option Agreement with an arms-length third party whereby the Company will hold the exclusive right to earn a 100% interest in the Pringle North Gold Project located north of the town of Red Lake in the Red Lake Mining District of Northwestern Ontario. VANCOUVER, British Columbia, J(GLOBE NEWSWIRE) - Aben Resources Ltd.
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