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Aben Resources Ltd.
Summary
| Project: | Chico | |
|---|---|---|
| Deposit: | Chico | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/9/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-1-2017: Aben Resources Ltd. announces a Supporting Acquisition report for its Chico deposit at the Chico project. Summary of property in support of acquisition. The Chico Technical Report was prepared for Aben Resources Ltd. to evaluate the potential of | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dave Billard (Cypress Geoservices Ltd.) | |
| ABSTRACT: | The Chico Technical Report was prepared for Aben Resources Ltd. to evaluate the potential of the Chico Property to host significant gold mineralization. The Chico Technical Report is a compilation of publicly available assessment reports and unpublished reports, supplemented by publicly-available scientific and government publications. The Author personally inspected the Chico Property during the period September 24 to 27, 2016. The Chico Property is located in NTS 063M-06 and consists of 6 contiguous claims totalling 2,915.6 ha, approximately 45 km southeast of Silver Standard Resources’ Seabee gold operation and 125 km northeast of the town of La Ronge Saskatchewan. The mineral lands are 100% owned by Eagle Plains Resources Ltd. of Cranbrook B.C., subject to an option agreement with Aben Resources and a 2% NSR royalty. The agreement calls for two option periods. The First Option allows Aben to acquire 80% of the property over a period of 4 years by issuing $100,000 in cash, 1.5 million voting shares of Aben and completing $1.5 million in exploration expenditures on the property. The Second Option, allows Aben to acquire an additional 20% interest in the property by making a $50,000 cash payment, issuing an additional 1,000,000 shares and incurring an additional $2,000,000 of exploration over two years. Current exploration permits are in place. | |
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