Aben Resources Announces Initial Field Work Commencement at the Slocan Graphite Project, Southeastern British Columbia

Rhea-AI Summary

Aben Resources Ltd. (TSX-V: ABN, OTCQB: ABNAF) has commenced initial fieldwork on its 2,826 hectare Slocan Graphite Project in British Columbia. This phase includes reconnaissance, rock sampling, and site evaluations for potential drilling. The company has secured a drill contractor, pending permit approval. The project, located near critical infrastructure, shows promising flake graphite values, with high organic carbon content found in the Tedesco Zone. Aben has expanded its landholding by staking an additional 439.4 hectares, indicating potential for further mineralization.

Positive

• Initial fieldwork has begun on the Slocan Graphite Project, indicating progress in exploration.
• The project is strategically located near critical infrastructure, including a processing plant.
• High organic carbon values (up to 4.43%) at the Tedesco Zone suggest strong graphite potential.
• Expansion of landholding by 439.4 hectares enhances mineral exploration prospects.

Negative

• None.

Vancouver, BC, July 07, 2022 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) is pleased to announce initial field work has begun on the 2,826 hectare Slocan Graphite Project located 34km northwest of Castlegar, British Columbia.

Field reconnaissance, mapping, rock sampling, and evaluation of prospective drill sites for a potential fall drill program are the focus of this phase of exploration. Aben has sourced a drill contractor and the requisite personnel to facilitate drill-testing of the Slocan Graphite Property pending successful receipt of their Multi Year Area Based exploration permit currently under review by the provincial government. The Project benefits from excellent infrastructure including forestry road access to the property, high-voltage transmission line within 1.2 km of the property boundaries and an existing graphite processing plant and facilities within 1.5 km west of the property (owned by Eagle Graphite Corporation, one of only two natural flake graphite production facilities in North America).

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 2,826 hectare Slocan Graphite Property hosts several flake graphite-bearing outcrops (high values of 3.36 and 4.43 % organic Carbon) at the Tedesco Zone, which is coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to 2.0km from the known surficial occurrences.

https://abenresources.com/projects/slocan/

The Company has just added to the Slocan Graphite land package by staking a new 439.4 hectare claim along the northeastern boundary of the property. This action was taken after initial evaluation of the Property by Aben geologists revealed excellent potential for an extension of the mineralized trend in that direction. Aben will continue to systematically explore the Slocan Graphite Property with the aim to unlock the full mineralized potential contained within the current tenure.

About Graphite:

Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of 9.5% in terms of value between 2021 and 2025.

In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.

Currently, synthetic graphite is the preferred material for battery anode materials. However, in the past few years, a significant shift towards natural flake graphite has been observed due to its cost-competitiveness and performance.

Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and 2025.

In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms of value between 2021 and 2025.

China graphite production is anticipated to consolidate owing to environmental issues. New companies are entering into the graphite space, especially in the processing of natural flake graphite. Graphite is considered as a material of green energy and technology.

https://abenresources.com/projects/slocan/about-graphite/

About Aben Resources:

Aben Resources is a diversified Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and the Yukon Territory.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s website at www.abenresources.com.

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact:
Aben Resources Ltd.
Riley Trimble, Corporate Communications
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.

FAQ

What is the status of Aben Resources' Slocan Graphite Project as of July 2022?

The initial fieldwork has commenced, including reconnaissance and site evaluations for drilling.

What are the high organic carbon values found in the Slocan Graphite Project?

The Tedesco Zone has reported high organic carbon values of 3.36% and 4.43%.

Has Aben Resources added to its Slocan Graphite land package?

Yes, Aben has staked an additional 439.4 hectare claim to enhance exploration.

What is the expected growth rate for natural flake graphite as reported by Aben Resources?

Natural flake graphite is expected to grow at a rate of 9.5% in value between 2021 and 2025.

What infrastructure benefits the Slocan Graphite Project?

The project benefits from road access and proximity to a high-voltage transmission line and a graphite processing plant.