Abington Resources Ltd. Treasure King North Shaft Results/Private Placement by 24hgold

Mots clés associés : Canada | Facebook | K Street | Precious Metals |

125A – 1030 Denman Street,
Vancouver, BC V6G 2M6
TEL: 604-683-6657
www.abingtonresources.com

September 20, 2011

NEWS RELEASE

Treasure King North Shaft Results/Private Placement

VANCOUVER, BRITISH COLUMBIA: Abington Resources Ltd. ("ABL"-TSX-V, "ABIZF" OTC) announces results of its rock sampling program in the North Shaft area of our Treasure King gold property in Arizona.

A total of eighty-five rock samples were taken averaging 20 pounds each. These large sample sizes were necessary to establish the cause of varied analytical results reported for gold on the Treasure King chert in the North Shaft area. The majority of historic drilling was done here by REDCO and Royal Gold in the late 1980’s. All samples were initially fire assayed with AA finish, over limits with gravimetric finish.

Seven samples were selected to be re-assayed via metallic screen analysis. These results are shown below.

METALLIC SCREEN

ORIGINAL ASSAYS

SAMPLE NUMBER	AU -100 MESH ppm FA	AU +100 MESH ppm FA	AU TOTAL ppm FA	AU ORIGINAL ppm FA-AA	AU ORIGINAL ppb FA-AA
E - 590	1.834	0.006	1.76	1.373	1373
E - 595	0.909	0.104	0.81	1.041	1041
E - 628	1.440	0.261	1.17	1.368	1368
E - 646	1.543	0.657	1.38	1.653	1653
E - 653	2.657	0.146	2.08	2.078	2078
E - 657	4.269	1.775	3.70	4.250 (grav)	>3000
E - 658	2.640	1.313	2.41	2.193	2193

*1.0 ppm = 1.0 gram per metric tonne = 0.029 ounces per ton

All samples were collected by professional geologists and one supervised assistant not affiliated with Abington. Samples were kept in a locked facility until picked up by a Skyline Laboratories truck and taken to their lab in Tucson. Fourteen check analyses were performed by Skyline on the initial pulp for Quality Control. All assays are from select samples only and are not indicative of mineralization over mineable widths.

Seven of the 85 samples returned values over 1,000 ppb gold with the Standard Fire Assay. Thirty-two assayed between 100 ppb and 893 ppb gold. The balance ran from <5 ppb Au to 96 ppb Au. The highest assay was 4.25 grams per metric ton (.124 ounces per ton).

Comparing the check analyses and reported results, using an arbitrary cut-off of 50 ppb in the original sample assays, there appears to be a difference of 13.4%. Comparing the average difference between the calculated total gold from the metallic screen analyses and gold from the original pulps resulted in an average difference of 12.7%. These results suggest that if nugget effect exists in the Treasure King chert, it is very localized.

The average difference between the original and check pulps from the property-wide database (14%) and the Treasure King database (13.4%), and the average difference between the original pulps (13.4%) and the metallic screen analyses (12.7%) from the current program. suggests selecting overly large volumes of sample and total pulverization is not necessary when drilling the Treasure King chert. It appears that variation in the FeOx (iron oxide) clot distribution in each sample contributes to sample heterogeneity and associated lack of reproducibility.

In addition to the sampling, geological contacts of the chert were mapped at a more detailed scale than previous property-wide mapping showing textural and mineralogical variation within the rock. Outcrops illustrating these alterations were photographed and could be used during drill core logging.

Our geologist had suggested two possibilities for future exploration as outlined in the Abington news release dated June 7, 2011. Number one was this phase of larger size samples to rule out the “nugget effect” affecting the degree of reproducibility. It has now been established that sample size and total pulverization is not necessary when drilling the Treasure King chert.

Number two was the possibility that grade increases with depth. It does appear that zoning exists in the chert which could suggest that any outcrops with detectable gold no matter how weak the anomaly, could be drilled. Anomalous gold results have been generated along the five major trends on the property.

After additional consultation with our geologist, Abington intends to discuss the potential for obtaining large pit and/or drill permits with regulatory bodies in Arizona. The Company will utilize the knowledge gained from this sampling program to minimize reproducibility issues based on the heterogeneous nature of the alteration and mineralization in future work on the Treasure King chert.

Private Placement
Abington Resources Ltd. is pleased to announce it has arranged a non-brokered private placement of up to 2,000,000 units at a price of $0.60 per unit, for total gross proceeds of up to $1,200,000 subject to regulatory approvals. Each unit will consist of one common share and one non-transferable common share purchase warrant exercisable at $0.85 for 24 months after the closing. One (1) warrant shall be required to exercise each one (1) common share at the exercise price. Proceeds will be used for work on existing properties both mining and petroleum, working capital, general and administration expenses, and reserve for evaluation and acquisition of new properties.

The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P. Eng.

ABINGTON RESOURCES LTD. is engaged in the acquisition, exploration, development and production of precious metals and natural resources. The Company has no debt (other than short-term payables) and derives an income from oil wells in Western Canada.

ON BEHALF OF THE BOARD

“Walter Brenner”

_________________________________

Walter Brenner

Director, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 604-683-6657

Email: info@abingtonresources.com

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially. Abington Resources Ltd. does not assume the obligation to update any forward-looking statement. Historically reported results may not be NI 43-101 compliant, therefore caution should be used in relying on such information. We seek safe harbor.”

This message was sent to .com from:

Abington Resources Ltd. | 125A - 1030 Denman Street | Vancouver, BC V6G 2M6, Canada

Email Marketing by

Manage Your Subscription | Send To a Friend

View this message in the iContact Community:

View message

Comment on this message

Receive as RSS

Share this message with others:

del.icio.us

Digg

Facebook

StumbleUpon

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
Sur Google Earth, cliquez sur les pictogrammes, pour voir les informations du projet, accéder à sa page, ou à la page de la compagnie.