EXPLORATION & DEVELOPMENT

Aben to start Chico drilling next month

Minnow maintains option agreement through payment to Eagle Plains

Staff reporter
 SSR Mining's Seabee gold mine

SSR Mining's Seabee gold mine

At yesterday's 16c close the company has a current market value of C$9.11 million.

Aben is initially earning 60% of Chico from Eagle Plains by spending $1.5 million on exploration, issuing 1.5 million of its shares and paying $100,000 over four years.

The 4,657 hectare property, 125km east of La Ronge, has yielded "high-grade gold intercepts" from limited historic drilling, while Aben liked the look of geophysics, mapping and soil geochemical results it says have identified a 1.5 km-long mineralized structural corridor. Aben and Eagle Plains said last month they'd acquired a further 1,799ha adjacent to Chico via staking and a deal with an unrelated third-party.

Aben hasn't disclosed details of its planned diamond drill program, which it says could be conducted at the same time as SSR works on a 10,000m drill program at Eagle Plains Fisher ‘property 6km north of Chico.

"The overall objective of the 2016 and 2017 programs was to identify mineralization, alteration and structural features similar to those at the nearby Seabee and Santoy deposits," Aben said this week.

"The shared proximity to the Tabbernor structure and similarities in terms of age and tectonic history to the … Seabee/Santoy deposits was the main driving force behind both Eagle Plains' and Aben's interest in the Chico property."

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.