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Aben Gold Drilling for Tungsten and Gold in SE BCBob Moriarty We are entering what should be seasonally the strongest period of the year for silver and gold. Both metals took a blip to the south in mid-week for geopolitical reasons. The children are back from recess and have returned to throwing spitballs at each other. One hopes the idiots won’t destroy the world’s financial system in a fit of madness but who knows. In a rational world this would be a good time to invest in the metals and in resource shares. Back in the dark ages of the resource investing world there were times when dozens of gold and silver stocks sold for less than the cash they had in the till. In 2000 when gold and silver were less than 8% of today’s price there were literally a hundred or more companies that you could buy for less than the cash they had on hand and hope that the CEO got caught with either a dead horse in his bed or was a hopeless crack addict and the company closed their doors. At the time the companies were worth far more dead than alive. The same was true in late 2015 when loads of juniors were sitting on more cash than their market cap. Again, gold and silver were a small fraction of today’s prices. I was reading the latest press release from one of our advertisers a couple of days ago and something seemed off. I bought the stock because it had a tiny market cap. When I read the press release and looked at the current price, I realized the company was selling for just barely above their cash and liquid assets. The company is Aben Gold (ABM-V) and the press release was talking about their planned 1,500 meter drill program at their Justin tungsten/gold project in the Yukon beginning this month but with a market cap as I write of only $5 million the company has $3.5 million in the bank, another $420,000 in Kingfisher shares and a further infusion of Kingfisher shares worth $500,000 in December. So, market cap of just over $5 million with $4.4 million in real assets and cash. They are drilling the Justin property shortly. For many years in spite of good gold results, the price of tungsten didn’t justify drilling. However, with a 700-900% spike higher in the price of WO3, the numbers work today. The current plan for drilling calls for six diamond drill holes over three drill pads. Aben will drill about 500 meters in the POW tungsten/gold property that has shown good gold and tungsten numbers in past drill programs. The POW zone shows both potential for tungsten and for a RIRGS gold system. Hole JN11009 reported 1.25 g/t gold over 60 meters. Hole JN11010 assayed 2.52 g/t Au and 29.53 g/t Ag over 12 meters. Later assays for tungsten showed 0.25% WO3 over the same 12 meters. At about $300 today in USD for 1 kilo that 0.25% return for tungsten would be worth $750 a tonne for WO3. Another hole JN12016 returned 5.5 meters grading 4.12 g/t Au. And 0.39% WO3 over 8.5 meters worth nearly $1200 per tonne. The remainder of the diamond drill program will be conducted at the Lost Ace zone looking for structurally controlled high-grade gold. Past trenching results gave 20.8 g/t Au over 4.4 meters and 88.2 g/t Au over 1.0 meter. Mobilization is going on shortly and drilling should begin about August 9th. Look for assay results to come about two months later. Aben Gold is an advertiser. I have bought shares in the open market and participated in past private placements. That makes me biased. Do your own due diligence. Aben Gold Corp ### Bob Moriarty 321gold Ltd |
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