PHOENIX, Jan. 17, 2019 (GLOBE NEWSWIRE) -- The Uptick Newswire Stock Day Podcast welcomed Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (Aben or The “Company”), which is a publicly traded Canadian gold exploration company in the country’s Golden Triangle. President, Chief Executive Officer, and Director of Aben Resources, Jim Pettit, joined Stock Day’s Everett Jolly.
Jolly started the interview by asking about the key drilling highlights from 2018 and asked Pettit where the company goes from here. Pettit said one of the key aspects is they started drilling early in the season and hit gold right away.
“We managed to follow up on the 2017 discovery holes where we hit a high-grade gold zone. What we did this past drill season is we drilled underneath it because it was open on all sides and at depth and we came in and it was stunning. 38 grams over 10 meters and 62 grams over 6 meters. Pretty spectacular stuff. So, that sparked the market and allowed us to go out and raise, immediately, $6 million.”
Pettit explained that the Company managed to bring in Eric Sprott as a main investor. Sprott is a Canadian billionaire businessman, who Pettit describes as a bit of a legend in the gold industry. Pettit also says this enabled them to double their drilling program, last year, taking the figures from 5,000 meters of drilling to 10,000 meters of drilling.
“We’ve got a lot more targets to test,” says Pettit. “One of the things this year that constrained us, it was difficult because we only had 9 drill pad locations approved, so you are stuck with those pad locations. We had applied for 40 more and as it turned out, once we had stopped drilling at the end of the season, we got our permits. The government had stopped issuing new permits because the fire season was so bad up there. It was a bit of a nuisance for us.”
This year he says they now have 40 pad locations to work with and a variety of targets that they could not get to last year. Pettit also explained that their data shows they have at least 20 more areas on the Forrest Kerr property to test. Jolly then asked what we might know from the Forrest Kerr project in 2019.
“We are going to have a better understanding of what we are looking at,” said Pettit. “A 3D model is being done right now and all of the data compilation from the season. We’ve got 45 holes now, so all of that analysis is there and it’s going to get plotted.”
Jolly then asked what are the plans for this year and if they have enough money in the coffers to go forward. Pettit said they raised $7 million last year, and they still have about $6.5 million.
“It paid all of 2018’s work. We’ve got all of the money we need, we don’t need to raise money at all.” He went on to say, “We also have interest in our Yukon property, and we may put some cash up there.”
Pettit said that revenues are off in the distance a bit; they are still in the discovery phase. However, he mentioned that the discovery phrase is when the investors really start looking at you.
“We have targets all over the property, we have lots of work ahead of us.”
To hear more about Aben Resources Ltd.’s efforts in the Golden Triangle listen to the full Stock Day podcast here: https://upticknewswire.com/featured-interview-ceo-jim-pettit-of-aben-resources-ltd-otcqb-abnaf-4/
About Aben Resources Ltd.
The flagship Forrest Kerr Project located in BC’s Golden Triangle region proximal to recent discoveries made by GT Gold, Colorado Resources, and Garibaldi Resources. The Chico Project located in Saskatchewan which was recently ranked the #1 mining jurisdiction globally by the Fraser Institute. The Justin Project located in the Yukon adjacent to Golden Predator’s 3 Aces Project.
Learn more here: https://abenresources.com/
About Jim Pettit
Jim Pettit has been President and Chief Executive Officer and a Director of Aben Resources Ltd. since November 2002. Mr. Pettit is currently serving on the board of directors of five publicly traded companies and offers over 25 years of experience within the industry specializing in finance, corporate governance, executive management and compliance. Mr. Pettit was previously Chairman and C.E.O. of Bayfield Ventures Corp. which was bought by New Gold Inc. in January 2015.
Contact: Jim Pettit at firstname.lastname@example.org or 604 687-3376 or 1-800-567-8181
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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