Aton Resources drills 2.90 g/t gold over 37 metres at Hamama West, Egypt
Aton Resources Inc. [AAN-TSXV; ANLBF-OTC] provided an update to investors on progress at its Hamama West gold-silver project, located in the 100%-owned Abu Marawat Concession in the Eastern Desert of Egypt.
The Hamama West RC infill drilling program was completed on August 24, 2022, with a total of 6,620 metres drilled, including five holes at the West Garida prospect.
Assay results have been received for the first 35 holes, HAP-101 to HAP-135, to date. Significant intersections include 2.90 g/t gold, 68.9 g/t silver and 3.71 g/t AuEq (gold equivalent) over a 37-metre interval from surface (drill hole HAP-115), 2.87 g/t gold, 54.3 g/t silver and 3.51 AuEq over a 22-metre interval from a 1-metre depth (hole HAP-110), and 1.43 g/t gold, 24.1 g/t silver and 1.72 g/t AuEq over a 32-metres interval from a 3-metre depth (hole HAP-115).
“The RC resource infill drilling program at Hamama West has now been completed on schedule, and we are surely pleased with the initial results of the drilling that we have received so far,” said Tonno Vahk, Interim CEO. “The results are in line with our expectations, and again confirm that the Hamama West oxide gold cap will be an easily mineable body of oxide mineralisation outcropping at surface, and which metallurgical testing has shown to be eminently treatable using heap leach processing technology. As soon as all the results have been received they will be forwarded on to our consultants Cube Consulting, who will commence work on revising the Hamama West mineral resource estimate. The development of the Hamama West starter open pit and heap leach project on the outcropping oxides, as only the second commercial gold mining operation in Egypt, will be a huge step forwards for the mining and mineral exploration sector in Egypt, the Egyptian Mineral Resources Authority, and of course for Aton, and for all our stakeholders.”
The Hamama West project has an indicated resource of 137,000 ounces of gold equivalent (AuEq, gold and silver combined), and an inferred resource of 341,000 ounces AuEq. The uppermost oxide and transitional component of the Hamama West deposit (the “gold oxide cap”) comprises an inferred resource of 106,000 ounces AuEq.
Metallurgical testwork has indicated average gold recoveries of 75.6% and 72.7% from oxide and transitional mineralization types respectively, using standard heap leach processing technology. Aton plans to initially mine the outcropping oxide gold cap of the deposit, which is mineralized directly from surface, as a low capex/opex starter open pit mining operation, with a heap leach processing facility. The Hamama West oxides will provide early cash flow and will represent the first stage of phased mine development at the Abu Marawat Concession.
Aton Resources is focused on its Abu Marawat Concession, located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s world-class Sukari gold mine. Aton has identified numerous gold and base metal exploration targets at Abu Marawat, including the Hamama deposit in the west, the Abu Marawat deposit in the northeast, and the advanced Rodruin exploration prospect in the south of the Concession.
Two historic British gold mines are also located on the Concession at Sir Bakis and Semna. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of a variety of styles of precious and base metal mineralization. Abu Marawat is 447.7 km2 in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity, as are the international airports at Hurghada and Luxor.