Aben Resources (TSX-V: ABN) would like to bring to your attention a news release recently issued by International Enexco (TSX-V: IEC) and Cameco (TSX: CCO). The full news release is posted below. Aben retains an ownership interest in two uranium projects in the Athabasca Basin, SK. One of the properties, the Huard-Kirsch Lakes Uranium Project, is a 49-51% joint venture between Aben and Denison Mines Corp. (TSX: DML) and the other property, Mann Lake Uranium Project, is a 40-60% joint venture between Aben and Canterra Minerals Corp. (TSX-V: CTM). Additional information on these projects can be found on Aben's website. Cameco and International Enexco's Mann Lake Project (subject of the news release below) is adjacent to the east of Aben and Canterra's Mann Lake Project as shown on this map:
Athabasca Basin, Saskatchewan Property Claims Map:
http://www.abenresources.com/i/maps/ABN_Athabasca_Map_11X17.jpg
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INTERNATIONAL ENEXCO (TSX-V: IEC) COMMENCES $6 MILLION, THREE RIG DRILL PROGRAM, ON THE MANN LAKE URANIUM PROJECT, ATHABASCA SK ("Beside" Aben's Mann Lake Project)
Mr. G. Arnold Armstrong reports
International Enexco Ltd.'s (TSX-V: IEC) 21,000-metre (69,000-foot) Diamond drill program on the Mann Lake uranium project has been commenced by the project operator, Cameco Corp. Discovery Mining Services Ltd. has now completed the initial set-up of the Three Mile camp which will be the centre base of the drilling operations for the exploration program. The camp can accommodate the first 20 people (two drills). Collaring of the first drill holes on Mann Lake has commenced and full camp operations to accommodate a third drill are anticipated by the end of January, 2013.
The budget for the 2013 program is $6-million with Enexco's portion being $1.8-million. On Nov. 29, 2012, Denison Mines Corp. subscribed for 3.6 million units of the company at a price of 50 cents per unit for aggregate gross proceeds of $1.8-million allowing Denison to own 5.4 million shares of Enexco, which represent approximately 9 per cent of the present issued and outstanding shares. Denison's strategic investment was proportional to Enexco's portion of the 2013 exploration program on the Mann Lake. Furthermore, on Dec. 19, the company announced that Ron Hochstien, the chief executive officer of Denison Mines Corp., joined Enexco as a member of its board of directors.
The primary objective of the 2013 exploration program will be to drill test priority geological and geophysical targets along the C conductor trend over the entire length of the property and the possible expansion of the mineralization discovered during the 2006/2007 drill programs in the central part of the C conductor trend. High-grade mineralization was intersected in hole MN-013 during a 2006 drill program. This drill hole intersected 7.12 per cent triuranium octoxide (U3O8) over 0.25 metre and 5.53 per cent U3O8 over 0.4 metre in the basement, 12 metres beneath the Athabasca unconformity surface. The 2013 drill program will allow for the evaluation for the presence of in situ mineralization, alteration and/or geochemical halos indicative of an economic deposit on the Mann Lake project.
The program in progress will consist of 28 drill holes with an additional 10 contingency holes, using three separate drills totalling approximately 21,000 metres of drilling. Additional grid refurbishment and geophysical surveying are scheduled to be completed by February, 2013.
Enexco is a 30-per-cent partner in a joint venture with Cameco (52.5 per cent) and Areva (17.5 per cent) to explore the Mann Lake uranium project in the Athabasca basin in Saskatchewan.
Results from the proposed drill program will be published in subsequent press releases as they become available. In addition, Enexco anticipates receiving monthly progress reports and intends to release pertinent information on an as-received basis. In the meantime investors are encouraged to discover the potentials of the Mann Lake property by visiting the company's website or by contacting the company directly.
Qualified person
Dr. William Willoughby, PhD, PE, is the company's qualified person for the purposes of National Instrument 43-101 and has prepared or supervised the preparation of the disclosure of any scientific and technical information contained in this news release.
About Mann Lake uranium project
The Mann Lake uranium project is located in the heart of what is undisputedly the most prolific and highest-grade uranium region in the world, the Athabasca basin in Saskatchewan. The project lies 25 kilometres southwest from Cameco's McArthur River mine and is 20 kilometres northeast from Cameco's Millennium deposit. High-grade basement-hosted uranium mineralization was discovered at Mann Lake during a 2006 drill program.
We seek Safe Harbor.
You can also view this News Release on our website at:
http://www.abenresources.com/s/FieldUpdate.asp?ReportID=567174