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TSXV:ABL | TSX Venture | Common Stock |
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Abington Resources Ltd. (TSX VENTURE:ABL)(PINK SHEETS:ABIZF) is pleased to announce the soil sample results of the Orientation Survey on our Treasure King gold property near Mayer, Arizona. Forty-eight soil samples were taken to corroborate historic values returned by Royal Gold and to determine if two selective analytical techniques for gold would prove useful for future exploration. The Standard fire assay and EL were performed by Skyline Labs in Tucson, Arizona, while the MMI (Mobile Metal Ion) was sent to SGS in Toronto. ------------------------------------ ------------------------------------ Analysis Au Au Analysis Au Au Units Limit ppb ppb Au Units Limit ppb ppb Au Package 5 0.005 ppb Package 5 0.005 ppb Code Fire Enzyme 0.1 Code Fire Enzyme 0.1 SAMPLE ID Assay Leach MMI SAMPLE ID Assay Leach MMI ------------------------------------ ------------------------------------ E-1000 41 0.019 1 E-1030 6 0.021 1.3 E-1001 19 0.216 5 E-1031 5 0.018 0.9 E-1002 20 0.193 13.9 E-1032 5 0.018 0.7 E-1003 10 0.105 3.5 E-1033 6 0.021 0.9 E-1004 29 0.111 8.4 E-1034 14 0.059 3.3 E-1005 47 0.144 8.9 E-1035 32 0.089 5.4 E-1006 22 0.112 7.2 E-1036 L.N.R. L.N.R. L.N.R. E-1007 41 0.119 9.1 E-1037 48 0.234 11.7 E-1008 23 0.084 7.3 E-1038 L.N.R. L.N.R. L.N.R. E-1009 15 0.040 4.8 E-1039 28 0.192 10.4 E-1010 11 0.074 2.7 E-1040 less than 5 0.017 1.2 E-1011 9 0.029 2.4 E-1041 less than 5 0.013 0.7 E-1012 6 0.034 1.3 E-1042 6 0.038 0.7 E-1013 443 0.141 5.9 E-1043 12 0.021 1.1 E-1014 943 0.110 17.7 E-1044 6 0.023 0.6 E-1015 112 0.184 24.2 E-1045 5 0.040 0.8 E-1016 496 0.262 21.2 E-1046 less than 5 0.009 0.6 E-1017 151 0.317 21.8 E-1047 less than 5 0.027 0.8 E-1018 18 0.173 8.7 E-1048 less than 5 0.032 0.7 E-1019 6 0.052 1.5 E-1049 less than 5 0.051 0.8 E-1020 less than 5 0.016 1.2 E-1021 6 -0.005 0.9 L.N.R. Listed not received E-1022 10 0.029 1.7 ------------------------------------ E-1023 162 0.212 28 E-1024 448 0.768 56.5 E-1025 396 1.920 61.1 E-1026 780 0.826 79.6 E-1027 449 0.841 44.4 E-1028 153 0.319 23 E-1029 71 0.224 14 E-1030 6 0.021 1.3 ------------------------------------ These selective geochemical extraction techniques MMI and EL are complex and are interpreted on contour maps and graphs by professionals. They are likened to geophysical techniques such as magnetometer surveys. Both are used to "see" mineralization at depth. The numbers are not as meaningful as the patterns generated on maps. Standard soil samples (Fire Assay) will have much higher concentrations of dissolved elements and as such, the assay numbers are much higher. MMI and EL report only the values for ions desorbed off the mineral surfaces in the soil. These assays are a small sampling only and are not indicative of mineralization over mineable widths. Eleven of forty-eight samples returned values over 100 ppb gold with the Standard Fire Assay. The highest soil assay was 943 ppb. Ten samples were taken in each of five lines with fifty foot spacing by professional geologists. Abington Line A - South Shaft area (samples E1000-1009) - Roughly corresponding to Royal Gold's soil Line 1, Abington's assays were lower than Royal Gold's but showed values of anomalous gold at every sample site. After plotting these Standard/EL/MMI samples on a graph, the profile suggests the anomaly is increasing with depth indicating a possible drill target. Abington Line B - Main Shaft area (E-1010-1019) - Approximately 1/3 of a mile north of Line A, this line is close to the location of Royal Gold's Line 4. A similar pattern of high gold values occur where both lines cross the ridge top mineralization and nearby samples on the ridge's west side. Here, Abington's results are higher than Royal Gold's. Abington Line C - North Shaft area (E-1020-1029) - Approximately 2/3 of a mile north of Line B, this line was in the area of the previously drilled Treasure King outcrops. Mineralized chert could not be sampled as there was no soil present. Samples were taken to the east and west and were strongly anomalous with the strongest anomaly in the alteration. The EL and MMI extraction techniques generated a similar pattern to the standard soil profile suggesting the gold distribution observed at the surface continues to depth. Abington Lines D, E - North Shaft area five hundred feet apart (E-1030-1039, E-1040-1049) - Five hundred feet south of Line C, samples were collected in areas with no observed Proterozoic outcrops. None of the three techniques detected gold over the projected mineralized chert horizon, but anomalous gold was found in footwall alteration. On Line E, a weak standard soil gold anomaly was detected, suggesting the Tertiary basalt is not very thick and iron-rich chert may lie just below the surface. There has been no history of soil testing in the Line E area. The Standard soil analysis, MMI and Enzyme Leach analysis all indicate the presence of gold mineralization when sampled over altered and mineralized Proterozoic rock units. Both the rock sample results outlined in Abington's news release dated October 15, 2010, and the soil results described herein, indicate the rock units are favorable for further discovery of stratabound-stratiform gold mineralization related to various hydrothermal alteration systems and associated chemical sediments (cherts) as indicated at the Treasure King locality. The next phase will involve more localized mapping and soil and rock sampling of the three historic known zones and the two anomalous zones found during our rock sampling program. These steps are an integral part of our view to twinning historic drill holes and to delineate other potential drill targets. 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, Director, President & Chief Executive Officer 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.
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