Aben Resources Provides Project Update on the Slocan Graphite Project Ahead of 2022 Exploration Program
Vancouver, BC, June 08, 2022 (GLOBE NEWSWIRE) -- Aben Resources Ltd. (TSX-V: ) (OTCQB: ) (Frankfurt: ) (“Aben” or “the Company”) is pleased to provide an update on its 2,387 hectare Slocan Graphite Project located 34km northwest of Castlegar, British Columbia. The Project benefits from excellent infrastructure including forestry road access to the property, high-voltage transmission line within 1.2 km of the property boundaries and there is an existing graphite processing plant and facilities within 1.5 km west of the property (owned by Eagle Graphite Corporation and is one of only two natural flake graphite production facilities in North America).
Slocan Graphite Project
The mineral exploration permit for the Slocan Graphite project is currently still under review with the Ministry of Mines. The Company anticipates the commencement of ground exploration on the property to begin when weather and ground conditions allow access. Because of the amount of snow this past winter and subsequent wet ground conditions, the program will likely commence in late June. The Company has also received an exemption letter from the Ministry of Mines to conduct an IP survey before the permit is granted. Furthermore, a drill is available for the project in late August depending on issuance of the permit.
Aben holds the exclusive right to earn a 100% interest, less 2% Net Production Royalty (“NPR”) in the road-accessible Slocan Graphite Project located 34km northwest of Castlegar,
British Columbia. The 2,387 hectare Slocan Graphite Property hosts several large flake graphite-bearing outcrops (high values of 3.36 and 4.43 % organic Carbon) at the Tedesco Zone, which is coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to 2.0km from the known surficial occurrences. The Slocan Graphite Project benefits from excellent infrastructure including a high-voltage transmission line within 1.2 km of the property boundaries, an extensive network of forestry roads on and around the property, and an existing graphite processing plant and facilities located 1.5 km west of the property (owned by Eagle Graphite Corporation).
About Graphite (Source: ResearchAndMarkets.com)
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of 9.5% in terms of value between 2021 and 2025.
In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An average HEV contains up to 10 kgs of graphite, whereas in EVs it is up to 70 kgs.
Currently, synthetic graphite is the preferred material for battery anode materials. However, in the past few years, a significant shift towards natural flake graphite has been observed due to its cost-competitiveness and performance.
Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and 2025.
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms of value between 2021 and 2025.
China’s graphite production is anticipated to consolidate owing to environmental issues. New companies are entering into the graphite space, especially in the processing of natural flake graphite. Graphite is considered a material of green energy and technology.
Qualified Person
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
About Aben Resources
Aben Resources is a diversified Canadian exploration company with Gold-focused projects in British Columbia, the Yukon Territory, and Ontario and a Graphite focused exploration project in British Columbia.
ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO
For further information contact:
Aben Resources Ltd.
Riley Trimble, Corporate Communications
Telephone: 604-416-2978
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email:
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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information.
