aoth-logoaoth-logoaoth-logoaoth-logo
  • Articles
    • Medical –
      • Addiction –
      • CBD –
      • Health –
      • Wellness –
    • Metals –
      • Battery Metals –
      • Critical Metals –
      • Energy Metals –
      • Industrial Metals –
      • Precious Metals –
    • Energy –
      • Nuclear –
      • Oil & Gas –
      • Renewable –
    • Environment –
      • Clean Energy –
      • Climate Change –
        • Decarbonization –
        • Electrification –
      • Pollution –
    • Markets –
      • Bitcoin –
      • Bonds –
      • Commodities –
      • cryptocurrency –
      • Currency –
      • Digital Currency –
      • Inflation –
      • Interest Rates –
    • Technology –
      • 3D Printing –
      • 5G –
      • Artificial Intelligence (AI) –
      • Blockchain –
      • Imaging –
    • Politics –
    • Education –
  • 文章
  • Company Profiles
  • News
  • Media
  • AOTH’s six for 22
Home | Disclaimer | 免责声明 | Newsletter Subscribe | RSS Subscribe

Aben starts drilling at Yukon play

  • Home
  • Articles
  • Uncategorized
  • Aben starts drilling at Yukon play
June 13, 2019

2019.06.13

Drilling has commenced at the Justin project in the Yukon – one of two gold properties being worked this summer by Aben Resources (TSX-V:ABN).

Up to 10 holes (1,350m) of drilling is planned for the POW Zone, to further test the intrusion-related gold system. Back in 2011-12, drill crews unearthed intercepts at POW ranging from trace values to highs of 1.19 g/t Au over 60.0 m (including 2.47 g/t Au over 21.0m) and 1.49 g/t Au over 46.4m.

The second phase of drilling at Justin will target the Lost Ace Zone, where 2018 trenching returned gold values ranging from trace to 20.8 grams per tonne (g/t) gold over 4.4 meters, including 88.2 g/t gold over 1.0 m. Lost Ace is just two kilometers west of the POW Zone, discovered in 2010.

Aben has already completed its first hole at Justin and is working on the second. The plan is to diamond-drill the POW Zone with holes up to 250m deep.

When the rotary air blast (RAB) drill arrives, the small, mobile unit will explore the Lost Ace Zone – punching in 20 holes, 50m deep. A RAB drill is considered to be a cost-effective tool for quickly evaluating surface and near-surface gold mineralization. It is often used as the next level of exploration after trenching.

For more details read the June 10 news release

The gold-bearing vein system, discovered by Aben in 2017, occurs in a geological setting that is very similar to mineralization present on Golden Predator’s (TSX-V:GPY) 3 Aces project, located immediately northwest of the Justin claim group.

The 2,000m drill program at Justin will involve 1,350m of diamond drilling and 600m of rotary air blast drilling.

According to Aben, Justin has the potential for both high-grade and bulk tonnage mineralization – epithermal, skarn and sediment-hosted – throughout a 3.5 kilometer by half a kilometer trend encompassing the Confluence, Main, Kangas and POW zones. The latter was drilled in 2011-12.

“It’s a classic intrusion-related gold system. You’ve got this younger intrusion coming up into the area, and it’s a massive area. Generally, you would get bulk tonnage from those,” CEO Jim Pettit said in an AOTH interview, comparing it to Kinross’ 4.3 million-ounce Fort Knox operation in Alaska, Golden Predator’s Brewery Creek mine, and the Coffee gold deposit in the Yukon. The latter owned by Kaminak Gold was acquired by Goldcorp in 2016 for CAD$520 million.

The theory Pettit and the team at Aben is operating under, based on geophysical survey results, is younger rock pushed its way up through older rock, resulting in a remobilization of mineralized fluids. Geologists call this “overprinting”. That would explain why there is high-grade “orogenic” gold at or near surface – up to 82 grams per tonne found during trenching, and why Golden Predator’s next-door 3 Aces property shows similar mineralization.

The reason for using the RAB drill is to test that hypothesis.

Exploration work at Justin is expected to take three to four weeks. After that, Aben will pivot west, to British Columbia’s highly-prospective Golden Triangle and its Forrest Kerr project. 

Read more about Forrest Kerr at Aben drills targeting hi grade gold in Golden Triangle and Yukon

Healthy gold market

The action at the drill bit is taking place at the perfect time for the gold market. As we have written, there a number of factors in place that should support the gold price going into the summer.

They include disturbing numbers coming in about the US economy, signaling a recession is around the corner, such as the yield curve inversion, a weakening labor market even though unemployment is at record lows, and a US dollar that has remained relatively high, the US dollar index (DXY) trading within a narrow $4.00 range for the last year.

The latest bogeyman to come forward is the inflation rate, or more to the point, the lack of inflation. When the US Commerce Department reported the first-quarter inflation growth numbers at the end of May, they were surprisingly soft.

The personal consumption expenditures (PCE) price index, which is the index the US Federal Reserve goes by in measuring the country’s inflation level, was running at just 1% in Q1 – 50% lower than the Fed’s 2% target and the smallest increase in four years – due to slowing demand for US goods and services.

GDP also dropped a point, to 3.1% on an annualized basis, from the earlier 3.2%.

The inflation rate is a key indicator that the Fed rests its decision on whether to lower, raise, or hold interest rates steady. The Fed was previously going to keep raising rates in 2019 but has since paused the increases, taking a wait and see approach. Now the slowing economy has some analysts predicting a rate cut.

“The low inflation readings are likely to be persistent,” Yahoo Finance quoted an economics professor at Loyola Marymount University, California. “With both inflation and economic growth going in the wrong direction, the Fed is likely to cut rates later this year.”

Gold is unique for being both an investment commodity and a raw material used in jewelry, for example. In this way the precious metal is subject to the laws of supply and demand.

We know that gold buying in 2018 was very strong, especially from central banks which bulked up their foreign exchange and bullion reserves due partly to trade war fears. Demand is still robust, but for a different reason. According to Gold Focus, a consulting firm, gold consumption this year will be 4,370 tonnes, the most since 2015 and slightly more than 2018, 4,364 tonnes.

It predicts purchases of gold jewelry to rise 3% this year, driven by a 7% increase in India and 3% in China, the two largest markets for gold’s “love trade”. (vs the “fear trade” for investors who buy gold as a hedge against inflation and economic/ political turmoil).

Throw in safe haven demand such as the trade war, recent saber-rattling over Iran, and skirmishes between the US and China in the South China Sea, and you have the set-up for a buoyant gold price throughout exploration season.

That keeps existing gold investors’ powder dry and sparks the interest of would-be stockholders to look closely at a junior like Aben, which is mining the right commodity in the right jurisdiction at the right time.

I continue to watch Aben Resources closely and maintain my belief that Justin is a sleeper play that just might surprise… stay tuned.

Aben Resource Ltd

TSX-V:ABN Cdn$0.24.5 June 13th

Shares Outstanding 111.6m

Market cap Cdn$27.1m

Aben website

*****

Richard (Rick) Mills

aheadoftheherd.com

 

Ahead of the Herd Twitter

Ahead of the Herd FaceBook

 

Legal Notice / Disclaimer

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified. Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as

to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.

Aben Resources (TSX.V:ABN), is an advertiser on Richard’s site aheadoftheherd.com. Richard owns shares of ABN

Share

Related posts

June 6, 2022

Rising Demand For Copper For EVs Presents A Unique Opportunity For Companies Like This One Using A Different Approach In Mining


Read more
June 4, 2022

Graphite One aiming to publish prefeasibility study in Q2


Read more
May 27, 2022

Dolly Varden 将在新合并的 Kitsault Valley 资产开启3万米勘探项目


Read more
May 13, 2022

Palladium One readying 15,000m drill program at Tyko


Read more
copper ore

copper ore

May 4, 2022

Max Resource Corp – CEO Brett Matich Interview


Read more
May 2, 2022

Core Advances Giant Carbonate Replacement Deposit in BC


Read more
April 29, 2022

Top 5 reasons to ‘think zinc’


Read more
April 21, 2022

Graphite One: Advancing a Complete U.S. Graphite Supply Chain Solution, Anchored by High-Grade Graphite from the Seward Peninsula, Alaska


Read more
April 9, 2022

Top 5 reasons why battery metals will continue to boom


Read more
April 4, 2022

一项新的《巴黎协定》将塑料时代设定为倒计时


Read more
March 30, 2022

Under the Spotlight – Mills, Aelicks: Getchell Gold Corp


Read more
March 17, 2022

Graphite One 选择华盛顿作为阳极材料制造厂,其供应链战略的第二个环节


Read more
March 14, 2022

Everything’s Broken


Read more
March 3, 2022

Could an emboldened China reveal the West’s dependence on the minerals it controls?


Read more
March 1, 2022

Endeavour Silver to acquire 5% of Max Resource, in all-share deal aimed at expanding Max’s CESAR copper-silver project


Read more
February 23, 2022

随着投资者涌向避风港,黄金股可能成为最大赢家


Read more
February 19, 2022

Norden Crown embarking upon $1.9M exploration program at Burfjord copper-gold project in Norway


Read more
Sprout-less Gold now Tier 1 Capital
February 19, 2022

Gold Thrives in Rate-Hike Cycles


Read more
February 15, 2022

Core Assets: Maiden sampling program at Blue project returns high-grade carbonate replacement mineralization


Read more
February 14, 2022

Rush to Renewables and EVs Makes China the World’s New Energy Master


Read more
How gold M&A will benefit quality juniors
February 13, 2022

Gold Stocks Still Coiling


Read more
February 12, 2022

世界电池用镍供应短缺


Read more
February 5, 2022

走向“绿色”的悖论


Read more
January 15, 2022

铜的繁荣可能持续几十年,促使全球寻找新的供应


Read more
December 29, 2021

Pipe Dreams and Ponzi Schemes


Read more
December 20, 2021

San Francisco 矿山的生产改善支持 Magna Gold 成为墨西哥下一个中端生产商


Read more
silver bars
December 11, 2021

Dolly Varden通过收购Fury Gold的Homestake项目,显著扩大了BC金三角地区的业务范围


Read more
RSS Subscribe
Subscribe to our RSS feed to receive our most recent articles directly to your favourite RSS Reader application.

Article Archives

Article Categories

  • Education (96)
  • Energy (84)
    • Nuclear (15)
    • Oil & Gas (11)
    • Re-newable (38)
  • Environment (290)
    • Clean Energy (49)
    • Climate Change (188)
      • Decarbonization (54)
      • Electrification (115)
    • Pollution (67)
  • Markets (210)
    • Bitcoin (2)
    • Bonds (13)
    • Commodities (95)
    • cryptocurrency (6)
    • Currency (64)
    • Digital Currency (2)
    • Inflation (49)
    • Interest Rates (31)
  • Medical (89)
    • Addiction (8)
    • CBD (4)
    • Health (88)
    • Wellness (25)
  • Metals (591)
    • Battery Metals (175)
    • Critical Metals (116)
    • Energy Metals (43)
    • Industrial Metals (189)
    • Precious Metals (304)
  • Politics (153)
  • Technology (45)
    • 3D Printing (3)
    • 5G (27)
    • Artificial Intelligence (AI) (9)
    • Blockchain (6)
    • Imaging (3)
  • Uncategorized (221)

AOTH Portfolio

  • Articles
  • 文章
  • Company Profiles
  • Company News Releases
  • Media
  • AOTHs-six-for-22
  • Disclaimer

Recent Articles

  • The disconnect between demand destruction from interest rate hikes and demand creation from infrastructure spending June 29, 2022
  • Renforth Resources investing in critical minerals June 27, 2022
  • Getchell Gold’s resource estimate moving forward with selection of Apex Geoscience June 27, 2022
  • Core Assets: Drilling at Laverdiere intersects extensive iron-copper skarn and copper-porphyry mineralization; assay results pending June 25, 2022
  • BC bracing for more floods, brought on by late snowpack, heavy rains and sudden hot weather June 24, 2022
  • Roo Gold: Rock chip sampling at Arthurs Seat silver project suggests large hydrothermal system June 24, 2022
  • The commodities bull market is just getting started June 23, 2022
  • US sanctions against Russia accelerating de-dollarization June 18, 2022

Ahead of the Herd

Enjoy hundreds of top-notch, thoroughly-researched articles on commodities and the junior resource companies that search for deposits of them.

Newsletter Subscribe

Subscribe to our free newsletter so we can start telling you things everyone else doesn't already know!

Recent Articles

  • The disconnect between demand destruction from interest rate hikes and demand creation from infrastructure spending
  • Renforth Resources investing in critical minerals
  • Getchell Gold’s resource estimate moving forward with selection of Apex Geoscience

Explore

  • Articles
  • 文章
  • Company Profiles
  • Company News Releases
  • Media
  • AOTHs-six-for-22
  • Disclaimer
© 2020 Ahead of the Herd. All Rights Reserved