Aton Announces Maiden Resource Estimate for Hamama West; Provides a Blueprint for Continued Resource Growth at Hamama
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/24/17 -- Aton Resources Inc. (TSX VENTURE: AAN) ("Aton" or the "Company") is pleased to announce a resource estimate for Hamama West, one of three contiguous zones that comprise the Hamama Project ("Hamama" or the "Project"), located within the Company's 100% owned Abu Marawat Concession ("Abu Marawat") in Egypt. Hamama West hosts an Inferred Mineral Resource of 341,000 ounces gold equivalent ("AuEq") (see Table 1) and an Indicated Mineral Resource of 137,000 ounces AuEq (see Table 2).
Highlights:
"I'm very pleased with the maiden resource estimate for Hamama West," said Mark Campbell, President and CEO of Aton. "We set out to demonstrate Hamama's overall potential with this resource estimate and I believe that we have done that. In addition to providing us with a blueprint for continued resource growth at Hamama, the resource estimate materially expands upon our existing resource base. As a Company, we are fortunate to have two gold deposits, Hamama and the Abu Marawat gold deposit, that have such great potential for resource growth along strike and at depth. Furthermore, we have more than a dozen exploration targets along the 40-km-long gold trend between the Hamama and Abu Marawat gold deposits."
Rick Cavaney, Vice President of Exploration of Aton, noted that "In the near term, Aton will commence a multi-pronged exploration program that will look to accomplish several goals. We will look to increase the grade and resources from Hamama West's oxide cap with a short reverse circulation program and will to seek to identify potential massive sulphide targets at Hamama with a geophysics program, which will include ground magnetics and ground and downhole electromagnetics. The Company will then focus on expanding resources at both Hamama and the Abu Marawat gold deposit. 2017 marks an exciting new phase for the Company, one of resource growth with an eye towards a Preliminary Economic Assessment and converting our exploration permit to an exploitation permit in 2018."
Table 1: Inferred Mineral Resources at Hamama West
Table 2: Indicated Mineral Resources at Hamama West
To view Figure 1: Hamama West Resource Boundary, please visit:
The independent mineral resource estimate for Hamama West was completed in accordance with National Instrument ("NI") 43-101 and was undertaken by Cube Consulting Pty Ltd (Perth). Notes regarding the interpretation and estimation methodology can be found in the Appendix at the end of the news release. The Company will prepare and file a Technical Report under NI 43-101 within 45 days of the date of this news release.
Upcoming milestones:
To view Figure 2: Abu Marawat Concession map, please visit:
Table 3: Mineral Resources at Abu Marawat
About the Hamama project
The Hamama project ("Hamama") is located at the western end of the 40-km long gold trend at the Abu Marawat concession and is comprised of three zones, Hamama West, Hamama Central and Hamama East. The mineralized horizon at Hamama has a strike length of approximately 3-km and remains open to the west and the east. Mapping indicates that the horizon may extend another 1.8-kms to the east. Further exploration work will be conducted to confirm this. Other potentially mineralized horizons, separate from the main mineralized horizon, have also been mapped in the general Hamama area.
About Aton Resources Inc.
Aton Resources Inc. (TSX VENTURE: AAN) is focused on its 100% owned Abu Marawat concession, located in Egypt's Arabian-Nubian Shield, approximately 200-km north of Centamin's Sukari gold mine. Aton has identified a 40-km long gold trend at Abu Marawat, anchored by the Hamama project in the west and the Abu Marawat gold deposit in the east. In addition to the Hamama project and the Abu Marawat gold deposit, the trend contains numerous gold exploration targets, including two historic gold mines. Abu Marawat is over 738km2 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.
Qualified Persons' statement
Scientific or technical information in this news release that relates to the preparation of the Company's mineral resource estimate is based on information compiled or approved by Matt Bampton, BSc (Hons. Geology), MSc (Env. Science), who is an employee of Cube Consulting Pty Ltd. and is considered to be independent of Aton Resources Inc. Mr. Bampton is a Member in good standing of the Australian Institute of Geosciences and has sufficient experience which is relevant to the commodity, style of mineralization under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43-101. Mr. Bampton consents to the inclusion in this news release of the information, in the form and context in which it appears.
Qualified Person
The technical information contained in this News Release was prepared by Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), FAusIMM, SEG, GSA, SME, Vice President, Exploration, of Aton Resources Inc. Mr. Cavaney is a qualified person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information regarding Aton Resources Inc., please visit us at .
Note Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements. Since forward- looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix
The following notes outline the interpretation and estimation methodology for the Hamama West Mineral Resource estimate:
Contacts:
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
Blaine Monaghan
Vice President, Investor Relations
+1 (604) 331-5092
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Datum: 24.01.2017 - 13:30 Uhr
Sprache: Deutsch
News-ID 519510
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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