ABINGTON TO JOINT VENTURE WITH HELLIX IN ARIZONA
ABINGTON VENTURES INC. / HELLIX VENTURES INC. Abington Ventures has entered into a joint exploration plan of operations with Hellix Ventures for a 50% participating interest in the Hellix claim group. The claim group is adjacent to the Verdstone property currently optioned by Abington Ventures.
The companies are preparing to drill targets identified by an IP resistivity survey conducted by D.G. Mark, P.Geo. The survey identified five resistivity lows that reflect the epithermal alteration associated with known epithermal gold mineralization in the area. The alteration zone extends up to 500 feet along strike and up to 100 feet wide. Vertical depths to the probably epithermal veins vary from near surface to 110 meters (360 feet).
The Hellix claim group covers an indicated gold-silver bearing epithermal zone as evident from phyllic/argillic alteration zone, extending for up to 500 feet along strike and up to 100 feet wide. Selected grab samples over 300 feet taken from within the alteration zone, returned assays of up to 8.01 gm/mt (0.27 oz/t gold). Drilling will test and delineate the potentially economic mineral zones.
The Verdstone Gold mine, is located 125 miles west of Phoenix, Arizona and was a past producer during the period 1992-1996. Production was estimated at approximately 500,000 tons of 0.5 opt gold ore. 2003 drill results indicated a new deposit (V3W) that is open to the north, west and east.
Abington Ventures has oil producing properties in Canada and mineral exploration properties in Arizona, USA and Durango, Mexico.
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