Aben Resources Ltd Commences 2021 Reconnaissance and Field Work at the Forrest Kerr Project and Closes Financing
Rhea-AI Summary
Aben Resources Ltd. (TSX-V: ABN, OTCQB: ABNAF) has launched a reconnaissance exploration program at its 100% owned Forrest Kerr Project in British Columbia's Golden Triangle. The initiative aims to enhance mapping and sampling to identify new drill targets, focusing on areas with limited previous exploration. The company has closed a non-brokered private placement, raising CAD $175,000 by issuing 2.5 million flow-through units priced at CAD $0.07 each. Proceeds will be utilized for exploration on the Forrest Kerr Gold Project, with all securities subject to a four-month hold period.
AI-generated analysis. Not financial advice.
Positive
- Initiation of a reconnaissance exploration program at the Forrest Kerr Project to identify new drill targets.
- Successful closure of a private placement financing raising CAD $175,000 for exploration.
- Low price per flow-through unit at CAD $0.07, potentially attracting investor interest.
Negative
- Limited previous exploration in key areas may indicate higher risk in identifying viable drill targets.
- Dependence on private placement financing raises questions about cash flow sustainability.
News Market Reaction – ABNAF
On the day this news was published, ABNAF gained 7.56%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to announce that it has initiated a reconnaissance and field work program at its
The areas of interest this year will be to the North and South of the Boundary zones. Minimal exploration has been conducted in the 3.5km-long Boundary-Marcasite corridor to the north of the North Boundary High-grade Zone despite the presence of high-grade precious metal values on surface. And to the south, very limited surface work has been conducted south of the South Boundary mineralized corridor, although discovery potential is high as this area overlies the regional-scale Forrest Kerr Fault Zone and other associated structures.
Flow-Through Financing
Further, the Company has closed a non-brokered private placement financing for total gross proceeds of CAD
The Company has allotted and issued 2,500,000 flow-through units (the “FT Units”) at a price of CAD
The Company intends to use the proceeds from the Placement towards exploration on its Forrest Kerr Gold Project, British Columbia. All securities issued under the Placement will be subject to a four-month and one-day hold period expiring December 12, 2021. The Placement remains subject to the final approval of the TSX Venture Exchange.
About Aben Resources:
Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company.
Forrest Kerr Gold Project, Golden Triangle, BC claims map:
https://abenresources.com/site/assets/files/4087/abn_forrest_kerr_project_map.pdf
For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.
ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
