VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 15, 2016) – Aton Resources Inc. (TSX VENTURE:AAN) (“the “Company”) is very pleased to report that assay results for the early holes in the current drill campaign encountered excellent gold-silver mineralization. Drilling commenced on the 31st March with diamond drill hole AH-59 which targeted the Gold Oxide Cap north of and down dip from AHA-34 at Hamama West. AHA-34 had intersected 9 meters at 1.3 g/t Au and 70.6 g/t Ag in a previous drill campaign. Drill hole ANA-60 was sited behind AHA-59 to test the down dip extension to the mineralization. A drill hole further north again, AHA-61 was sited to test the mineralization down dip from both holes as shown in the cross section figure 1. Very interesting lithologies were encountered in each hole confirming the mineralization as being in a volcanic associated massive sulphide (VMS) environment. AHA-59 in the oxidized zone returned 5.1 meters at 0.89 g/t Au and 16.44 g/t Ag. Up-hole from the gold-silver mineralization, 3.8 meters of 0.79% Zn was intersected. Drill hole AHA-60 tested the deeper extension to this mineralization and returned 28 meters of 2.23 g/t Au and 42.2 g/t Ag in the sulphide zone. Up-hole from this are two narrower zones. These were 4.45 meters at 0.66 g/t Au with 19.94 g/t Ag; plus 6 meters at 0.65 g/t Au and 15.8 g/t Ag. Once again, zinc mineralization was encountered up-hole from the gold-silver intersections; in AHA-60 it was 23.5 meters of 2.5% Zn. Although there has been secondary migration and enrichment in the oxide environment, stratigraphically these zinc-rich zones are sitting under the mineralized exhalite unit that is carrying the precious metals. This is normal in a VMS situation.
Highlights:
- Drill holes AHA-59, AHA-60 and AHA-61 were drilled on the same section as previously drilled hole AHA-34 (9 meters at 1.3 g/t Au and 70.6 g/t Ag) but down dip from it. AHA-59 in the oxide zone adjacent AHA-34 returned 5.1 meters at 0.89 g/t Au and 16.44 g/t Ag. AHA-60 down dip again but in the sulphide zone returned 28 meters of 2.23 g/t Au and 42.2 g/t Ag showing a marked increase in thickness and grade. Results from hole AHA-61, down dip again, have not been received. See figure 1.
- The higher grade precious metal intersections are enveloped by a lower grade halo of mineralization. Thus, in AHA-60 the 17 meters at 2.9 g/t Au & 51.4 g/t Ag (1 g/t Au cut-off) sits within an intersection of 28 meters at 2.23 g/t Au & 42.2 g/t Ag (0.5 g/t Au cut-off). This in turn is enclosed in 37 meters at 1.8 g/t Au & 35.9 g/t Ag. (0.25 g/t cut-off). The mining cut-off will be calculated later during modeling.
- In both AHA-59 and AHA-60, elevated zinc values were encountered; 3.8 meters of 0.79% Zn in AHA-59 and 23.5 meters of 2.5% Zn in AHA-60. These zones stratigraphically underlie the gold-silver mineralized exhalite.
Mark Campbell, Chief Executive Officer of Aton Resources stated, “These exciting results from Hamama West are confirming the potential of both the near surface Gold-Oxide Cap, and the deeper sulphide mineralization to host a significant resource. Further assay results are expected in the very near future and these should contribute towards the goal of achieving this. We have close to 3,000 square kilometers in two promising concessions that includes a number of old mines that we are re-assessing. Currently the exploration team is preparing to process the last of the samples from stage one of the 3,500-meter drilling program at Hamama West. We are excited to start stage two of the drilling program to carry on filling gaps in the drill pattern over the Gold-Oxide Cap and the deeper primary sulphide targets. We are on track to complete our initial NI 43-101 compliant resource estimate for Hamama West in Q3.”
To view “Figure 1: Cross section showing selected intervals for AHA-059 and AHA-060” please visit the following link: http://media3.marketwire.com/docs/1062858Figure1.jpg
Table 1: Au-Ag mineralized intervals for AHA-059 and AHA-060
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
AHA-059 | 34 | 39.1 | 5.1 | 0.89 | 16.44 |
AHA-060 | 40.5 | 46.5 | 6 | 0.65 | 15.8 |
AHA-060 | 63 | 67.43 | 4.43 | 0.66 | 19.94 |
AHA-060 | 71 | 99 | 28 | 2.23 | 42.2 |
Table 2: Zn mineralized intervals for AHA-059 and AHA-060
Hole ID | From (m) | To (m) | Interval | Zn (%) |
AHA-059 | 19 | 22.8 | 3.8 | 0.79 |
AHA-060 | 6.5 | 30 | 23.5 | 2.5 |
See the appendix for a full list of assays.
To view “Figure 2. Geological map of western Hamama West showing drill holes AHA-59 & AHA-60” please visit the following link: http://media3.marketwire.com/docs/1062858Figure2.jpg
INFORMATION CONCERNING HAMAMA VMS PROJECT
The Hamama project lies within a belt of mineralization and old 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. This stratigraphic horizon needs exploration to search for more occurrences. 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 35 m. Apart from the intersections announced herein, drill results in oxide at Hamama West include 37 m at 2.32 g/t Au and 107.1 g/t Ag in AHA-15, 32.6 m at 1.37 g/t Au and 56.4 g/t Ag in AHA-37 and 19 m at 2.46 g/t Au and 157.3 g/t Ag in AHA-46. Preliminary metallurgical (bottle-roll) test results on the Gold-Oxide Cap returned up to 92.2% Au and 65% Ag recovery by cyanide leach from oxide (see January 13, 2015 News Release).
Primary sulphide mineralization at Hamama West returned such intercepts as 48 m at 1.45 g/t Au and 31.8 g/t Ag in AHA-23 and 88 m at 1.11 g/t Au and 118 g/t Ag in AHA-31 (see News Release dates May 12, 2015). The last drill hole from the 2015 drilling program, AHA-58, was entirely mineralized, from surface to 210 m depth, and includes 39 m at 1.64% Zn, 0.25 g/t Au and 25.7 g/t Ag (53 m to 92 m), 12.3 m at 2.49% Zn, 0.29% Cu, 0.26 g/t Au and41.4 g/t Ag (92 m to 104.3 m), 43.5 m at 3.70% Zn, 0.23% Cu, 2.61 g/t Au and 150 g/t Ag(112.5 m to 156 m) and 50.7 m at 0.69 g/t Au and 29.7 g/t Ag (160 m to 210.7 m).
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 historic gold mines occur within the two concessions: British miners produced gold at Sir Bakis, Semna and Abu Zawal into the 1920s.
Much of the gold vein mineralization in the district is orogenic related, quartz-carbonate type and is associated with major shear-zones. Centamin’s Sukari gold mine is located 400 km to the south of Abu Marawat, in the same belt. The Abu Marawat and Fatiri Concessions cover a Proterozoic Pan-African greenstone belt. This is part of the Arabian Nubian Shield that also occurs in Saudi Arabia, Sudan, Eritrea and Ethiopia. Significant VMS deposits in this belt includes Jabel Sayid (Saudi Arabia); Bisha Main and Harena (Eritrea); Hassai, plus Hadal Awatib (Sudan) and Emba Derho, Debarwa plus Adi Nefas (Eritrea). Alexander Nubia’s Hamama gold-silver VMS is geologically similar to these VMS deposits. Similar geological settings to the Arabian Nubian Shield include the greenstone belts of the Yilgarn (Western Australia), Abitibi (Quebec) and Birimian (West Africa). The Arabian Nubian Shield is most similar in age to the latter.
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 zero-gradient railway bed that runs through Abu Marawat concession to a Red Sea port, 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 city of Luxor, a two-hour drive from Hamama, has an international airport.
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.
For more information on Aton Resources Inc., visit us at www.atonresources.com.
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.
APPENDICES | ||||||||||||||
Appendix 1: Raw Assay Results for AHA-059 | ||||||||||||||
From | To | Interval | Au (g/t) | Ag (g/t) | Cu (ppm) | Pb (ppm) | Zn (ppm) | |||||||
0 | 1 | 1 | 0.009 | 2.1 | 764 | 21 | 1840 | |||||||
1 | 2.5 | 1.5 | 0.008 | 4.6 | 999 | 25 | 3930 | |||||||
2.5 | 3.3 | 0.8 | 0.01 | 2.1 | 601 | 53 | 1375 | |||||||
3.3 | 4.3 | 1 | 0.029 | 1.9 | 983 | 138 | 2610 | |||||||
4.3 | 5.3 | 1 | 0.033 | 2.9 | 1220 | 66 | 3340 | |||||||
5.3 | 6.3 | 1 | 0.022 | 3.8 | 1110 | 56 | 2870 | |||||||
6.3 | 7.2 | 0.9 | 0.017 | 4 | 806 | 32 | 3590 | |||||||
7.2 | 8.1 | 0.9 | 0.035 | 5.4 | 848 | 1890 | 3260 | |||||||
8.1 | 9 | 0.9 | 0.017 | 2.1 | 683 | 317 | 2670 | |||||||
9 | 10.3 | 1.3 | 0.023 | 1.6 | 609 | 77 | 3990 | |||||||
10.3 | 11.5 | 1.2 | 0.037 | 1.4 | 295 | 23 | 1085 | |||||||
11.5 | 12.55 | 1.05 | 0.019 | 1.8 | 246 | 134 | 609 | |||||||
12.55 | 13.7 | 1.15 | 0.012 | 3.5 | 440 | 448 | 3050 | |||||||
13.7 | 14.9 | 1.2 | 0.008 | 1 | 296 | 150 | 3020 | |||||||
14.9 | 16 | 1.1 | 0.005 | 2 | 574 | 565 | 3760 | |||||||
16 | 17 | 1 | 0.019 | 2.8 | 459 | 880 | 2250 | |||||||
17 | 18 | 1 | 0.041 | 3.8 | 317 | 261 | 2800 | |||||||
18 | 19 | 1 | 0.149 | 5.1 | 387 | 615 | 3680 | |||||||
19 | 20 | 1 | 0.059 | 4.8 | 273 | 170 | 5320 | |||||||
20 | 21 | 1 | 0.008 | 4.1 | 271 | 35 | 8160 | |||||||
21 | 22 | 1 | 0.054 | 4.7 | 78 | 207 | 9120 | |||||||
22 | 22.8 | 0.8 | 0.199 | 3 | 286 | 453 | 6330 | |||||||
22.8 | 23.9 | 1.1 | 0.253 | 6.6 | 58 | 119 | 2590 | |||||||
23.9 | 25 | 1.1 | 0.464 | 11.2 | 87 | 158 | 1810 | |||||||
25 | 26 | 1 | 0.467 | 11.9 | 93 | 149 | 1610 | |||||||
26 | 27 | 1 | 0.254 | 13.5 | 123 | 151 | 1880 | |||||||
27 | 28 | 1 | 0.089 | 12.6 | 185 | 216 | 1990 | |||||||
28 | 29 | 1 | 0.282 | 16 | 152 | 427 | 3790 | |||||||
29 | 30 | 1 | 0.06 | 4.5 | 31 | 74 | 607 | |||||||
30 | 31 | 1 | 0.243 | 8.5 | 67 | 222 | 1690 | |||||||
31 | 32 | 1 | 0.293 | 11.2 | 75 | 301 | 834 | |||||||
32 | 33 | 1 | 0.36 | 18 | 140 | 433 | 1260 | |||||||
33 | 34 | 1 | 0.333 | 16.1 | 95 | 351 | 1860 | |||||||
34 | 35 | 1 | 0.975 | 16.1 | 235 | 689 | 3260 | |||||||
35 | 36 | 1 | 0.561 | 18.8 | 122 | 301 | 975 | |||||||
36 | 37 | 1 | 0.726 | 8.2 | 113 | 526 | 962 | |||||||
37 | 38 | 1 | 0.378 | 16.2 | 143 | 233 | 629 | |||||||
38 | 39.1 | 1.1 | 1.71 | 22.3 | 237 | 526 | 1295 | |||||||
Appendix 2: Raw Assay Results for AHA-060 | ||||||||||||||
From | To | Interval | Au (g/t) | Ag (g/t) | Cu (ppm) | Pb (ppm) | Zn (ppm) | |||||||
6.5 | 7.5 | 1 | 0.022 | 1.3 | 503 | 120 | 7710 | |||||||
7.5 | 8.8 | 1.3 | 0.02 | 3 | 915 | 143 | 8740 | |||||||
8.8 | 9.8 | 1 | 0.037 | 3.2 | 1205 | 253 | 13050 | |||||||
9.8 | 10.8 | 1 | 0.027 | 2.1 | 823 | 187 | 10050 | |||||||
10.8 | 12.1 | 1.3 | 0.016 | 2.8 | 717 | 95 | 8120 | |||||||
12.1 | 12.4 | 0.3 | 0.034 | 3 | 2230 | 666 | 139500 | |||||||
12.4 | 13.4 | 1 | 0.016 | 0.7 | 537 | 23 | 28900 | |||||||
13.4 | 14.4 | 1 | 0.0025 | 0.3 | 418 | 10 | 31300 | |||||||
14.4 | 15.9 | 1.5 | 0.0025 | 0.5 | 621 | 15 | 33400 | |||||||
15.9 | 16.6 | 0.7 | 0.008 | 1.1 | 762 | 61 | 62200 | |||||||
16.6 | 17.4 | 0.8 | 0.01 | 1.5 | 420 | 96 | 93000 | |||||||
17.4 | 18.55 | 1.15 | 0.009 | 1.9 | 1420 | 148 | 15350 | |||||||
18.55 | 19.55 | 1 | 0.009 | 2.5 | 1470 | 108 | 10100 | |||||||
19.55 | 20.55 | 1 | 0.016 | 3.1 | 3200 | 1080 | 21300 | |||||||
20.55 | 21.55 | 1 | 0.009 | 1.7 | 1000 | 1000 | 14850 | |||||||
21.55 | 22.6 | 1.05 | 0.007 | 1.2 | 575 | 270 | 13600 | |||||||
22.6 | 23.6 | 1 | 0.052 | 1 | 197 | 134 | 32000 | |||||||
23.6 | 24.6 | 1 | 0.055 | 5.7 | 1440 | 3620 | 46700 | |||||||
24.6 | 25.6 | 1 | 0.033 | 2.3 | 721 | 2090 | 40200 | |||||||
25.6 | 27 | 1.4 | 0.041 | 1.6 | 406 | 142 | 21200 | |||||||
27 | 28.1 | 1.1 | 0.122 | 2.1 | 135 | 221 | 1420 | |||||||
28.1 | 29 | 0.9 | 0.06 | 2.4 | 574 | 918 | 18300 | |||||||
29 | 30 | 1 | 0.067 | 1.7 | 141 | 195 | 19800 | |||||||
30 | 30.65 | 0.65 | 0.038 | 1.6 | 74 | 130 | 1670 | |||||||
30.65 | 32 | 1.35 | 0.049 | 1.9 | 104 | 109 | 369 | |||||||
32 | 33 | 1 | 0.043 | 3.1 | 130 | 126 | 405 | |||||||
33 | 34.4 | 1.4 | 0.11 | 4.7 | 106 | 96 | 323 | |||||||
34.4 | 36 | 1.6 | 0.115 | 4.8 | 138 | 168 | 393 | |||||||
36 | 37 | 1 | 0.055 | 3.3 | 62 | 106 | 138 | |||||||
37 | 37.5 | 0.5 | 0.047 | 2.5 | 35 | 65 | 32 | |||||||
37.5 | 38.6 | 1.1 | 0.069 | 1.3 | 21 | 50 | 61 | |||||||
38.6 | 39.6 | 1 | 0.21 | 2.9 | 14 | 52 | 37 | |||||||
39.6 | 40.5 | 0.9 | 0.339 | 7.7 | 44 | 67 | 64 | |||||||
40.5 | 41.5 | 1 | 0.611 | 12.1 | 124 | 126 | 122 | |||||||
41.5 | 42.5 | 1 | 0.596 | 12 | 112 | 125 | 104 | |||||||
42.5 | 43.5 | 1 | 0.6 | 12.5 | 73 | 134 | 1145 | |||||||
43.5 | 44.5 | 1 | 0.515 | 16.1 | 79 | 147 | 3610 | |||||||
44.5 | 45.5 | 1 | 0.828 | 20.7 | 128 | 181 | 713 | |||||||
45.5 | 46.5 | 1 | 0.767 | 21.4 | 120 | 178 | 1165 | |||||||
46.5 | 47.5 | 1 | 0.406 | 8.8 | 51 | 86 | 307 | |||||||
47.5 | 48.5 | 1 | 0.19 | 3.6 | 23 | 52 | 207 | |||||||
48.5 | 49.5 | 1 | 0.214 | 4.9 | 28 | 60 | 256 | |||||||
49.5 | 50.22 | 0.72 | 0.14 | 3.2 | 18 | 32 | 117 | |||||||
50.22 | 51.22 | 1 | 0.651 | 18.7 | 50 | 73 | 132 | |||||||
51.22 | 52 | 0.78 | 0.141 | 7.4 | 12 | 59 | 57 | |||||||
52 | 53 | 1 | 0.245 | 3.3 | 17 | 38 | 42 | |||||||
53 | 54 | 1 | 0.133 | 3.1 | 18 | 36 | 194 | |||||||
54 | 55 | 1 | 0.154 | 10.2 | 25 | 43 | 85 | |||||||
55 | 56 | 1 | 0.125 | 7.4 | 20 | 49 | 239 | |||||||
56 | 57 | 1 | 0.181 | 6 | 17 | 42 | 155 | |||||||
57 | 58 | 1 | 0.115 | 4.6 | 16 | 33 | 67 | |||||||
58 | 59.02 | 1.02 | 0.097 | 2.3 | 16 | 27 | 41 | |||||||
59.02 | 60 | 0.98 | 0.152 | 4.9 | 27 | 34 | 34 | |||||||
60 | 61 | 1 | 0.121 | 2.6 | 24 | 33 | 41 | |||||||
61 | 61.9 | 0.9 | 0.164 | 2.5 | 25 | 34 | 42 | |||||||
61.9 | 63 | 1.1 | 0.439 | 12.2 | 44 | 72 | 44 | |||||||
63 | 63.6 | 0.6 | 0.831 | 23 | 89 | 150 | 95 | |||||||
63.6 | 64.6 | 1 | 0.736 | 18.8 | 88 | 127 | 116 | |||||||
64.6 | 65.6 | 1 | 0.706 | 25 | 130 | 207 | 354 | |||||||
65.6 | 66.43 | 0.83 | 0.568 | 22.2 | 138 | 196 | 156 | |||||||
66.43 | 67.43 | 1 | 0.533 | 12.3 | 48 | 85 | 48 | |||||||
67.43 | 68 | 0.57 | 0.405 | 9.9 | 48 | 153 | 67 | |||||||
68 | 69 | 1 | 0.388 | 12.2 | 88 | 245 | 176 | |||||||
69 | 70 | 1 | 0.406 | 13.7 | 94 | 191 | 579 | |||||||
70 | 71 | 1 | 0.461 | 15.8 | 100 | 134 | 341 | |||||||
71 | 72 | 1 | 0.672 | 19.3 | 110 | 208 | 428 | |||||||
72 | 73 | 1 | 0.588 | 17.7 | 103 | 189 | 336 | |||||||
73 | 74 | 1 | 0.608 | 19.9 | 119 | 200 | 293 | |||||||
74 | 75 | 1 | 1.155 | 28.7 | 92 | 149 | 223 | |||||||
75 | 76 | 1 | 1.24 | 38.1 | 138 | 138 | 196 | |||||||
76 | 77 | 1 | 1.025 | 26.9 | 103 | 171 | 321 | |||||||
77 | 78 | 1 | 0.848 | 47.9 | 162 | 340 | 539 | |||||||
78 | 79 | 1 | 19.8 | 164 | 2590 | 13600 | 116000 | |||||||
79 | 80 | 1 | 6.65 | 83.8 | 1735 | 6240 | 37300 | |||||||
80 | 81.08 | 1.08 | 2.35 | 56.1 | 496 | 1950 | 9370 | |||||||
81.08 | 82 | 0.92 | 3.06 | 72.9 | 903 | 3130 | 27100 | |||||||
82 | 83 | 1 | 1.505 | 49.8 | 223 | 1175 | 4110 | |||||||
83 | 84 | 1 | 1.475 | 55.1 | 318 | 1585 | 4100 | |||||||
84 | 85 | 1 | 1.565 | 53.5 | 385 | 2190 | 7110 | |||||||
85 | 86 | 1 | 1.355 | 48.2 | 269 | 1545 | 4200 | |||||||
86 | 87 | 1 | 0.789 | 38.1 | 154 | 501 | 901 | |||||||
87 | 88 | 1 | 1.475 | 30 | 172 | 628 | 1165 | |||||||
88 | 89 | 1 | 1.1 | 21.9 | 144 | 552 | 1130 | |||||||
89 | 89.5 | 0.5 | 0.26 | 5.9 | 53 | 241 | 589 | |||||||
89.5 | 90 | 0.5 | 1.28 | 29.5 | 276 | 1235 | 2690 | |||||||
90 | 91 | 1 | 1.305 | 26.1 | 383 | 1740 | 5200 | |||||||
91 | 92 | 1 | 1.2 | 23.1 | 319 | 1300 | 4990 | |||||||
92 | 93 | 1 | 1.105 | 34.1 | 320 | 1115 | 3420 | |||||||
93 | 94 | 1 | 1.71 | 44 | 529 | 1835 | 3980 | |||||||
94 | 95 | 1 | 2.35 | 56.2 | 714 | 2320 | 4030 | |||||||
95 | 96 | 1 | 0.671 | 17.5 | 185 | 1455 | 2670 | |||||||
96 | 97 | 1 | 0.713 | 14 | 196 | 783 | 1560 | |||||||
97 | 98 | 1 | 2.45 | 37.3 | 421 | 1460 | 2040 | |||||||
98 | 99 | 1 | 2.93 | 41.1 | 452 | 1020 | 1455 | |||||||
99 | 100 | 1 | 0.015 | 2.4 | 65 | 78 | 328 |
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
mcampbell@atonresources.com
www.atonresources.com