Aben Resources Provides a Year End Update on Corporate Actions and Planning for 2023
Aben Resources Ltd. (OTC: ABNAF) provides a corporate update as 2022 ends, focusing on resource allocation across its diversified mineral assets. The company will concentrate on the Slocan graphite property in 2023, having received a 5-year exploration permit. Aben is poised to drill-test the Tedesco Conductor, identified as a strong conductive anomaly. A correction was made regarding a previous private placement, raising $180,000 instead of $211,500. Aben continues to pursue its exploration projects in British Columbia, Ontario, and Yukon.
- Secured a 5-year Area-Based Exploration Permit for the Slocan graphite property.
- Plan to drill-test the conductive Tedesco Conductor in 2023, indicating potential resource development.
- Diversifying mineral assets with an option agreement to Rackla Metals for the Hit Project.
- Previously misstated the amount raised in a private placement, corrected to $180,000 from $211,500.
Vancouver, BC, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) would like to provide a corporate update as the current calendar year draws to a close. The management and directors of Aben have been busy finalizing a corporate and fiscal plan in terms of resource allocation on their diversified mineral assets going forward.
Exploration at the Slocan graphite property in Southeastern British Columbia will be the main focus in 2023 as Aben has recently received a 5-year Area-Based Exploration Permit from the BC Ministry of Energy, Mines, and Low Carbon Innovation. The Canadian Federal government has recently announced their Critical Minerals Strategy, which promises to address and lessen the current challenges in developing mineral exploration projects in Canada. Natural Resources Minister Jonathan Wilkinson stated that “[The government of Canada] recognizes that to meet our ambitious climate and economic objectives to transition to a net-zero economy, additional mechanisms must be in place to expedite and facilitate strategic critical mineral projects from investment funding opportunities, through regulatory approvals and development, to production.”
Aben Resources is excited to follow-up on their first comprehensive field exploration of the Slocan Property this past summer with additional field work and a plan to drill-test the previously undrilled Tedesco Conductor, located in the central part of the 2,826 hectare road-accessible Slocan property.
Aben has recently optioned their Hit Project in the Yukon Territory to Rackla Metals. Aben also holds a basket of gold-focused projects in BC (Forrest Kerr), Yukon (Justin) and Ontario (Pringle North).
Further, the Company announces a correction to its news release dated August 4, 2022 whereby the Company announced the closing of a non-brokered private placement. The Company raised
Slocan Project Location
https://map.juniormininghub.com/?gid=3257&modal=project_summary
The Tedesco Conductor is a strong conductive anomaly identified by a 2010 airborne electromagnetic geophysical survey which is coincident with widespread graphite-bearing surface rock samples that range from trace to
Slocan Tedesco Conductor
https://abenresources.com/site/assets/files/4229/slocan_tedesco_conductor.jpg
About Slocan Graphite Project:
The Slocan Graphite Project benefits from excellent infrastructure including forestry road access to and throughout the property, a high-voltage transmission line within 1.0 km of the property boundary and an existing graphite processing facility within 1.5 km of the property. The facility is owned by Eagle Graphite Corporation, and is one of only two natural flake graphite production facilities in North America.
Slocan Infrastructure
https://abenresources.com/site/assets/files/4229/slocan_infrastructure.jpg
Aben holds the exclusive right to earn a
Slocan Presentation
https://abenresources.com/site/assets/files/4229/slocan_graphite_2022.pdf
About Graphite:
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of
In value and volume, batteries to exhibit the fastest-growth of
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
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow
China’s 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/
Qualified Person:
Cornell McDowell, P.Geo. and Vice President of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person (QP), as defined by National Instrument 43-101.
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 are the main focus areas for Aben Resources in 2023?
What significant permit has Aben Resources obtained recently?
What was the correction made by Aben Resources regarding a private placement?
What is the significance of the Tedesco Conductor for Aben Resources?
How does Aben Resources plan to utilize its diversified mineral assets?
