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Aben Resources suspends drilling program at Chico gold project

Published 26 March 2018

Aben Resources said that it has suspended the planned and permitted Chico drill program in Saskatchewan, Canada owing to a request by the citizens of the community of Pelican Narrows and members of the Peter Ballantyne Cree Nation (PBCN).

Details of the intended program were previously announced in a News Release dated March 1st, 2018.

Eagle Plains Resources Ltd. (TSX-V: EPL), as optionor and project operator, informed Aben of this request after a March 21, 2018 community meeting was convened in Pelican Narrows, attended by local stakeholders and Eagle Plains management.

Following the meeting a decision was made by Aben and Eagle Plains to suspend the program. Aben may revisit plans to explore the property in the future, following meaningful consultation with the community and PBCN members. 

Government permits to undertake the proposed drilling program were issued on Feb. 28, 2018 by the Saskatchewan Ministry of Energy.

Aben holds the exclusive right to earn an undivided 80-per-cent interest in the property by completing $3.5-million in exploration expenditures, issuing 2.5 million shares and making $150,000 in cash payments to Eagle Plains by 2020.

Aben recently made a cash payment of $25,000 and issued 250,000 common shares to Eagle Plains, pursuant to the terms of the current option agreement.

Aben Resources looks forward to the upcoming exploration season at the Forrest Kerr Gold Project in B.C.’s Golden Triangle after a successful drilling program there last year.

Source: Company Press Release