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Aben Resources Executes Agreement on Slocan Graphite Project in Southern British Columbia

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) has executed a formal option agreement…

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This article was originally published by Resource World

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) has executed a formal option agreement (subject to regulatory approval) with Eagle Plains Resources Ltd. (TSX-V:”EPL”) whereby Aben holds the exclusive right to earn a 100% interest, less 2% Net Production Royalty (“NPR”) in the road-accessible Slocan Graphite Project located 34km northwest of Castlegar, British Columbia (the “Agreement”). Under terms of the Agreement, Aben must complete $1,000,000 in exploration expenditures, issue 850,000 common shares and make $150,000 in cash payments to Eagle Plains over a three year period. In addition, if at any time Aben or its successors report a resource of greater than 10Mt for tenures comprising the property, EPL will receive a one-time “Success Fee” of 500,000 Aben shares.

The Slocan Graphite project consists of 2,387 ha owned 100% by Eagle Plains with no underlying royalties or encumbrances. The property hosts several large flake graphite-bearing outcrops and float occurrences known as the Tedesco Zone, which is interpreted to extend over 2.0km. Eagle Plains recently completed fieldwork on the property and is encouraged by preliminary field observations, with the program focused on prospecting and geological mapping in underexplored areas of the property in an effort to locate extensions of the known graphite mineralized horizon and to better understand controls on mineralization.

Figure 1. Regional Location Map

About Slocan Graphite Project

Graphite is a naturally occurring form of carbon and is an excellent conductor of both electricity and heat. It is becoming increasingly important as a critical strategic component in advancing alternative energy solutions including wind and solar power, hybrid vehicles and other alternative energy uses. It is also a mainstay of the steel production industry. Canada is currently ranked as the 5th largest supplier of graphite.

The Slocan Graphite Project benefits from excellent infrastructure including a high-voltage transmission line within 1.2 km of the property boundaries, an extensive network of forestry roads on and around the property, and an existing graphite processing plant and facilities located 1.5 km west of the property, owned by Eagle Graphite Corporation.

Graphite mineralization was initially discovered in logging road exposures in the late 1990’s.  Ground and airborne geophysical surveys were completed in the project area in 2000 and 2010 respectively.  Both surveys indicated strong conductive anomalies that correlate well with surface mineralization and are interpreted to extend along strike and down-dip of known occurrences.  A limited number of documented samples have been taken across the Tedesco horizon and analysed for carbon graphite ranging from trace values to grades of up to 3.36 and 4.43 per cent.

Graphite mineralization is hosted primarily in carbonate and calc-silicate lithologies within the Passmore Dome of the Valhalla Metamorphic Complex, a geologic setting consistent with a crystalline flake graphite deposit model.  Previous operators have estimated the mineralized horizon to be up to 50m thick, however they cite that it is difficult to determine due to a lack of surface exposure. The horizon has never been tested by diamond drilling.

Past workers in the area concluded: “Although the graphite occurrences at Tedesco are in the early stages of exploration, geological, assay, and geophysical data indicate significant potential to form an economic deposit” (BC Assessment Report 26537). Aben Resources is in agreement with Eagle Plains geologists who are of the opinion that the high-quality, large flake character of the graphite mineralization found to date, spatial extent of conductivity from a 2010 airborne electromagnetic (“EM”) survey, minimal historic exploration activity, excellent proximity to infrastructure and the favorable economic outlook for graphite as a strategic commodity make Slocan Graphite a compelling project for continued exploration.

“The Slocan Graphite Project is an excellent addition to Aben’s portfolio of Projects and will allow the Company to move into the very exciting EV  battery metals space that is currently experiencing exponential growth due to the electrification of the Auto Industry.”  Comments President and CEO Jim Pettit.

Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work at the Slocan Graphite property. While the company considers the above historical information to be relevant to investors as it may indicate the presence of mineralization, the reader is cautioned that a Qualified Person has not done sufficient work to evaluate the potential of the property to contain an economic deposit and that there is no certainty that the property contains a graphite deposit.

Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

Chico Option Termination

Taiga and Aben have agreed to terminate the Option Agreement on the Chico property, dated December 9th, 2016 between Aben and Eagle Plains Resources Ltd. and subsequently assigned to Taiga on June 7th, 2018 (the “Option Agreement”). Under the terms of the agreement, Taiga has agreed to pay Aben $CDN 200,000 in cash to terminate the Option Agreement, effective immediately. Aben will no longer have any rights to the Chico Property nor obligation to make cash payments, issue common shares or incur exploration expenditures. Moving forward, Taiga will control a 100% interest in the Chico property, subject to any underlying third-party royalties.  Aben and Taiga share one common director, who has been recused from voting on the Option Agreement termination.

About Aben Resources:

Aben Resources is a Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and the Yukon Territory. Aben is a well-funded junior exploration company. Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

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: [email protected]

 

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.





Author: Resource World

Precious Metals

Gold Springs Discovers New Gold System – Shares Jump 20%

Gold Springs [GRC-TSX; GRCAF-OTCQB] reported assay results from hole J-21-015 with an average…

Gold Springs Resource Corp. [GRC-TSX; GRCAF-OTCQB] reported assay results from hole J-21-015 with an average of 1.0 g/t gold equivalent over more than 163 metres located 180 metres south of the discovery hole J-21-006 at the 100%-owned Gold Springs property located on the border of Nevada and Utah.

The results confirm the existence of a new gold-mineralizing system called intrusive-related gold system (IRGS) on a new target that the company has named Tremor. This new gold system is situated along the northern extension of the Jumbo trend of the large Gold Springs project of 8,000 hectares.

J-21-015 highlights include 1.0 g/t gold equivalent over 163.1 metres: 1.42 g/t gold equivalent over 33.5 metres within the vein, which includes 3.26 g/t gold equivalent over 10.7 metres within the vein; and 0.94 g/t gold equivalent over 123.5 metres within the intrusive and contact zone.

Randall Moore, executive vice-president of exploration, stated: “We have been anxiously awaiting these results, which now confirm what we believe to be a major new discovery. The existence of an IRGS at Gold Springs opens a potentially large area to develop a new gold resource. Hole J-21-015 extended both the high-grade vein system and the gold mineralization associated with the intrusive first seen in hole J-21-006. We would also like to highlight that both holes ended in gold mineralization. We are now awaiting assays from another 15 holes at Tremor that are currently in the laboratory for testing. Drilling has extended this northern vein for over 200 metres and the Tremor intrusive zone for 600 metres along strike as seen in the drill cuttings. The thickest intercept within the intrusive thus far has been 280 metres.”

The company is waiting to receive assays from 24 holes on two targets; 15 from Tremor and nine from White Point, in the coming weeks.

Gold Springs Resource is confident of the presence of an intrusive-related gold system within the Tremor target situated along the north extension of the Jumbo trend in Utah where a strong CSAMT (controlled source audio magnetotelluric) high resistivity anomaly extends for 1,200 metres.

The company completed 18 holes at Tremor designed to test the extent of the intrusive-hosted gold system. These holes demonstrate the intrusive extends for 600 metres and is open to the north, south and at depth. In addition, the vein system in hole J-21-006 has been traced for 200 metres. For details on hole J-21-006, which returned 6.87 g/t gold equivalent over 24.4 metres, included grades of 30.9 g/t gold equivalent over 4.6 metres.

The drill has moved to Charlie Ross where eight additional holes are planned to follow up that new discovery.

Author: Staff Writer

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Energy & Critical Metals

Northern Graphite Snaps Up 2 Mines for US$40M

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite…

Northern Graphite Corp. [NGC-TSXV; NGPHF-OTCQB] has agreed to acquire a 100% interest in two graphite mines from French industrial minerals company Imerys Group for US$40 million, a move that CEO Greg Bowes described as “transformational” for the company.

The assets being acquired include the producing Lac des Iles graphite mine in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. The Namibian project is held by Imerys and a joint venture partner.

Closing of the transaction is subject to a number of conditions, including the approval of the TSX Venture Exchange. The transaction is considered a “fundamental acquisition” under TSX Venture Exchange policies. As a result, trading in the company’s shares has been halted pending a satisfactory review by the TSX-V or closing of the transaction, whichever occurs firs.

Northern Graphite said it intends to raise US$55 million in financing to complete the transaction, which includes payment of the purchase price, capital improvements, reclamation bonding, working capital and transaction expenses.

The company has signed a term sheet with Sprott Resource Streaming and Royalty Corp. for US$40 million in debt/royalty/stream financing and an engagement letter with Sprott Capital Partners LP to act as lead agent with respect to an equity offering of US$15 million.

The Sprott Group intends to participate in the equity offering with an investment of US$3 million, and Imerys will receive US$3 million in equity on the same terms as the offering, as partial payment for the purchase price. Imerys is also providing other support for the transaction.

Northern Graphite is a mineral development and technology company that has been working to develop its flagship Bissett Creek graphite deposit in northern Ontario.

The company is also focused on upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies.

Its aim has been to become a leading supplier of graphite, an industrial mineral that has long been associated with steel manufacturing, lead pencils and golf clubs, but is now a key ingredient used in the production of electric vehicles.

Speaking about the acquisition of the Imerys assets, Bowes said: “This is a truly transformational deal that will elevate Northern from one of over 20 junior graphite companies looking for project financing to being the only North American and the world’s third largest non-Chinese graphite-producing company.”

In addition, he said Northern will have two large-scale development projects in stable jurisdictions that will enable the company to significantly expand production to meet growing demands from the [electric vehicle]/battery markets,’’ Bowes said.

Transaction highlights include the acquisition of 40,000 to 50,000 tonnes per year of graphite concentrate production capacity. The Namibian operation will be brought back on line, enabling Northern Graphte to expand its market share in North America and Europe.

Terms of the deal were announced just before the market close on December 2, 2021, when Northern Graphite shares were priced at 83 cents and trade in a 52-week range of 92 cents and 23 cents.

 

Author: Staff Writer

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Precious Metals

Sprott Physical Gold and Silver Trust (CEF): A Brand-New Prospect for Investors

Sprott Physical Gold and Silver Trust (CEF) is currently valued at $17.10. When the trading was stopped…

For the readers interested in the stock health of Sprott Physical Gold and Silver Trust (CEF). It is currently valued at $17.10. When the trading was stopped its value was $17.21.Recently in News on April 13, 2021, Sprott Physical Gold and Silver Trust Updates Its “At-The-Market” Equity Program. Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Gold and Silver Trust (NYSE: CEF) (TSX: CEF) (TSX: CEF.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical gold and silver bullion, today announced that it has updated its at-the-market equity program to issue up to US$1 billion of units of the Trust (“Units”) in the United States and Canada. You can read further details here

Sprott Physical Gold and Silver Trust had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $20.38 on 06/01/21, with the lowest value was $16.75 for the same time period, recorded on 09/29/21.

Sprott Physical Gold and Silver Trust (CEF) full year performance was -5.37%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Sprott Physical Gold and Silver Trust shares are logging -16.09% during the 52-week period from high price, and 2.09% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $16.75 and $20.38.

The company’s shares, operating in the sector of Financial managed to top a trading volume set approximately around 2939308 for the day, which was evidently higher, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Sprott Physical Gold and Silver Trust (CEF) recorded performance in the market was -11.63%, having the revenues showcasing -4.09% on a quarterly basis in comparison with the same period year before.

Specialists analysis on Sprott Physical Gold and Silver Trust (CEF)

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 17.91, with a change in the price was noted -1.84. In a similar fashion, Sprott Physical Gold and Silver Trust posted a movement of -9.71% for the period of last 100 days, recording 489,960 in trading volumes.

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Trends and Technical analysis: Sprott Physical Gold and Silver Trust (CEF)

Raw Stochastic average of Sprott Physical Gold and Silver Trust in the period of last 50 days is set at 16.43%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 6.72%. In the last 20 days, the company’s Stochastic %K was 2.89% and its Stochastic %D was recorded 4.11%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -11.63%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -14.50%, alongside a downfall of -5.37% for the period of the last 12 months. The shares -3.66% in the 7-day charts and went up by -4.26% in the period of the last 30 days. Common stock shares were lifted by -4.09% during last recorded quarter.

Author: Sarah Baker

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