CAPITAL MARKETS

Aben ready to drill

British Columbia gold explorer Aben Resources’ (TSX-V: ABN) CEO Jim Pettit says the company has more than C$3.5 million in its treasury to fund upcoming drilling at its flagship Forrest Kerr project after this week closing a $2.32 million non-brokered private placement.

Staff reporter
 Top up: Aben Resources cashed up for new drilling at Forrest Kerr

Top up: Aben Resources cashed up for new drilling at Forrest Kerr

The new funds raised came via a combination of 12.5c shares issued with warrants attached (convertible at 25c within three years), and 18c flow-through units with the same warrant entitlement.

Aben was trading at 16c at the time of writing, capitalising the company at $10.4 million. It traded up to 49c in mid-September last year.

Pettit said Aben was keen to start drilling in the Golden Triangle after the "success of last year's summer drill program which included a new discovery and high grade drill results of 21.5 grams per tonne gold, 28.5gpt silver and 3.1% copper over 6m, as well as 6.7gpt gold and 0.9% copper over 10m at the Boundary North Zone".

"Notable regional discoveries by Pretium, GT Gold, Colorado Resources and others illustrate the significant discovery upside remaining in the district and we are confident in the potential at Forrest Kerr given the newly discovered and historic high grade mineralization there as well as the numerous untested gold-in-soil anomalies present."

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