VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 29, 2016) – Aton Resources Inc. (TSX VENTURE:AAN) (“the “Company”) is very pleased to report that it has begun a regional remote sensing and spectral imaging survey covering the 40km gold mineralized trend at its Abu Marawat concession area in the Eastern Desert of Egypt. This trend runs between its Abu Marawat gold project in the east of the concession area to its Hamama VMS project to the west of the concession area. Within this 40km trend there are ten (10) already identified Brownfield exploration sites mined in recent historic and ancient times. These include the Semna (a sheeted gold-bearing quartz vein in granodiorite) and Sir Bakis prospects (a Gold-rich quartz vein deposit). The survey will cover the copper and gold anomalies in the Miranda area which is considered to be the largest continuous gossan in the Eastern Desert. Other prospects in the study area include the ancient gold mining areas of Massaghat, Zeno, Bohlog, Umm Balata, NE Eradia, El Gidani and Abu Gaharish.
To view “Figure 1: Abu Marawat Concession showing significant gold occurrences,” please visit the following link: http://media3.marketwire.com/docs/aton_resources_1067413_aug29_figure01.pdf
The company will also undertake a more specific survey of its Hamama VMS project. This will cover an area of 10 sq km around its already identified 3km strike length (Hamama West, Central and East) to determine the overall extent of mineralization within Hamama. This will compliment the upcoming ground magnetic, ground EM and downhole EM geophysical surveys over 81/2 sq km. The objective of these surveys is to identify massive sulphide targets that will be drilled this fall. Aton is currently working with Cube Consulting to produce its NI 43-101 initial resource at Hamama West, where it has a supergene enriched gold oxide cap in early October.
The remote sensing program will also extend to regional coverage of Aton’s large Fatiri concession and in particular to its Rouh Al Hadid and Abu Zawal exploration areas.
The survey is being conducted by one of the leading experts in this field, Dr. Michael Brown, who has undertaken such surveys for mining companies such as Barrick, Anglo Gold Ashanti, Allied Resources, Andiamo and El Dorado Gold as well as for oil and gas companies such as CC Energy and Shell.
INFORMATION CONCERNING ABU MARAWAT AND THE HAMAMA VMS PROJECT
The Hamama project lies within a belt of mineralization and 12 historical mines that extends east north easterly for 40 km across Aton Resources’ Abu Marawat Concession. The Main Horizon at Hamama has a strike length of some 3 km but extensions along the same stratigraphic horizon extend this to about 4 1/2 km. Aton believes that this stratigraphic horizon is underexplored and merits additional exploration and that is has a high potential for future discoveries of precious and base metal mineralization. The Hamama mineralized horizon is divided into three main zones; Hamama West, Hamama Central and Hamama East. Mineralization at Hamama outcrops at surface, and at Hamama West is deeply weathered into a soft and friable oxidized blanket called the Gold Oxide Cap, which extends over 900 m in strike length and has an average vertical depth of 35m.
About Aton Resources Inc.:
Aton Resources Inc. (TSX VENTURE:AAN) is exploring potentially economic gold, silver and base metal deposits in the Central Eastern Desert of Egypt with the aim of developing mines. The Company’s 100% owned concessions; Abu Marawat and Fatiri, between them cover 2,772 km2 of under explored ground. Evidence of gold and copper mining in the concessions dates the many surface workings to pre-historic possibly Old Kingdom through Ptolemaic, Roman and Early Arab times. Three recent historic gold mines occur within the two concessions: British miners produced gold at Sir Bakis, Semna and Abu Zawal into the 1930s.
The Company’s land package, located 350-400 km southeast of Cairo, includes excellent infrastructure. Hamama has direct access to two four-lane highways, a low-gradient railway bed that runs through Abu Marawat concession to a Red Sea port at Safaga, multiple high-voltage (capacity 220kV) power lines that cross between the two concessions, a water pipeline and nearby major cities. The latter include Qena, on the Nile 70 km to the west and the Port of Safaga, on the Red Sea, 50 km to the east. The cities of Luxor and Hurghada, a two-hour drive from Hamama, have international airports.
Qualifying Person:
The technical information contained in this News Release was prepared by Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), AusIMM (f), SEG, GSA, SME, Exploration Manager for Aton Resources Inc. Mr. Cavaney is a qualified person (QP) under National Instrument 43‐101 Standards of Disclosure for Mineral Projects.
Cautionary Note Regarding Forward-Looking Statements
The securities of Aton Resources Inc. described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Some of the statements contained in this release are forward‐looking statements, such as estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. 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.
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
[email protected]
