Aton Resources (TSXV:AAN) Reports Results of 4.28 g/t AuEq over an Interval of 20.78m at Hamama in Abu Marawat Concession

Aton Resources Inc. (TSXV:AAN) has announced the final assay results from its latest diamond drilling program at the Hamama site, situated within the company’s wholly-owned Abu Marawat Concession in Egypt’s Eastern Desert (Figure 1). The drilling initiative at Hamama resumed in mid-January 2023 and concluded on March 11, 2023, during which a total of 1,612.7 meters were drilled.

Tonno Vahk, Interim CEO, commented in a press release: “These final results from the Crocs Nose exceeded expectations, and we are very pleased with them. The Crocs Nose Zone represents a structural offset of the main mineralised zone at Hamama West and was not included in the 2017 mineral resource estimate. The grades intersected in this programme are notably higher than the overall grade of the Hamama West oxide resource, and this zone should be a nice sweetener to the planned starter open pit mining operation at Hamama. We are also pleased to have now signed the RC drilling contract with Geodrill and look forward to starting the drilling at West Garida in May. We believe there is good potential to rapidly add significant near-surface ounces from the high-grade quartz veins we drilled at West Garida last summer to the overall resource base at Hamama.”

Hamama’s mineralization is contained within a stratiform silica-carbonate horizon (SCMH) that spans approximately 3.2 kilometres in strike length and varies in thickness. At Hamama West, the SCMH exceeds 60 meters in thickness in certain areas, presenting iron oxide-rich and gossanous characteristics at the surface and throughout the oxide zone. The 2023 Hamama diamond drilling program involved drilling 15 shallow holes (HAD-041 to HAD-055) at the CNZ, totaling 545.8 meters (refer to Table 1 and Figure 3). The final assay results from these latest holes are now accessible.

The CNZ mineralization seems to be situated in a faulted offset of the primary mineralized zone at Hamama West (Figures 2 and 3). This fault offsets the SCMH sinistrally by approximately 150 meters to the south, terminating the outcropping mineralization to the west. At CNZ, this fault serves as the footwall of the mineralized block, while at Hamama West, the mineralization continues along strike to the west beneath this structure. Recent intersections at Hamama West include 1.57 g/t Au, 29.99 g/t Ag, and 1.92 AuEq over a 47-meter interval, starting from a 26-meter depth (hole HAP-192, as reported in the October 20, 2022 news release). The CNZ mineralization was not accounted for in the initial Hamama West mineral resource estimate (refer to the January 24, 2017 news release).

The SCMH-hosted mineralization at CNZ is visible on the surface along the northern and western edges of the Cretaceous Nubian Sandstone (NS) outlier, which unconformably overlies the Neoproterozoic rocks containing the Hamama mineralization (Figure 3). Surface trenching of the unconformity has clearly demonstrated that the mineralization extends underneath and immediately below the NS outlier.

Past diamond drilling at CNZ has yielded intersections such as 2.46 g/t Au, 157.3 g/t Ag, and 4.73 g/t AuEq over a 19-meter interval from a 12-meter depth (hole AHA-046, as reported in the June 9, 2015 news release, and Figure 3), 2.05 g/t Au, 168.9 g/t Ag, and 4.48 g/t AuEq over a 12-meter interval from a 27-meter depth (hole AHA-045, also reported in the June 9, 2015 news release), and 1.65 g/t Au, 82.7 g/t Ag, and 1.92 g/t AuEq over a 28-meter interval from a 7-meter depth (hole HAD-007, as reported in the May 18, 2017 news release). Earlier surface trenching at CNZ also revealed outcropping mineralization at the surface, including 3.47 g/t Au, 118.2 g/t Ag, and 5.35 g/t AuEq over a 26-meter width.

Figure 1: Geology plan of the Abu Marawat Concession showing the location of the Hamama project. Source: Aton Resources
Figure 2: Location of the Crocs Nose Zone at Hamama West. Source: Aton Resources

Highlights from the results are as follows:

  • A total of 545.8 metres was drilled from 15 shallow holes at the Crocs Nose Zone (“CNZ”) at Hamama West, completing the short Hamama 2023 diamond drilling programme. The programme was designed to test for potential near-surface oxide gold-silver mineralisation that had been previously intersected in a limited number of holes;
  • Results from the programme included the following mineralised intersections:
  • 1.57 g/t Au, 230.6 g/t Ag, and 4.28 g/t Au equivalent (“AuEq”), over an interval of 20.78m from 12.66m downhole depth (HAD-054);
  • 1.84 g/t Au, 62.20 g/t Ag, and 2.57 g/t AuEq, over an interval of 24.55m from 6.45m downhole depth (HAD-052);
  • 1.37 g/t Au, 52.81 g/t Ag, and 1.99 g/t AuEq, over an interval of 34.80m from 2.00m downhole depth (HAD-042);
  • 1.63 g/t Au, 7.01 g/t Ag, and 1.71 g/t AuEq, over an interval of 16.30m from surface (HAD-049), and;
  • 1.23 g/t Au, 41.01 g/t Ag, and 1.72 g/t AuEq, over an interval of 18.90m from 0.80m downhole depth (HAD-045);
  • Preparations are well underway for the upcoming RC exploration drilling programme, with drilling expected to commence within the first fortnight of May at West Garida.
Hole ID Collar co-ordinates 1 Dip 2 Grid azimuth 2 EOH depth (m) Comments
X Y Z
HAD-041 533891.2 2913649.4 515.4 -30.6 153.9 36.1 CNZ (north side, under NS)
HAD-042 533886.5 2913648.5 515.4 -33.1 204.1 42.0 CNZ (north side, under NS)
HAD-043 533827.8 2913611.6 508.9 -0.7 51.6 98.6 CNZ (west side, under NS)
HAD-044 533828.3 2913609.2 508.6 -10.2 120.1 46.0 CNZ (west side, under NS)
HAD-045 533795.1 2913603.4 506.9 -65.3 178.6 30.0 CNZ (west side)
HAD-046 533808.9 2913611.1 506.5 -44.9 181.3 31.4 CNZ (west side)
HAD-047 533809.0 2913602.6 507.2 -43.6 182.4 26.1 CNZ (west side)
HAD-048 533823.1 2913614.7 507.3 -44.2 177.6 29.4 CNZ (west side)
HAD-049 533824.7 2913603.4 507.6 -43.9 178.7 22.3 CNZ (west side)
HAD-050 533795.6 2913611.5 506.2 -69.3 182.1 36.1 CNZ (west side)
HAD-051 533789.3 2913612.1 505.7 -69.4 179.8 19.6 CNZ (west side)
HAD-052 533808.5 2913612.8 506.5 -69.8 187.1 36.9 CNZ (west side)
HAD-053 533809.0 2913615.2 506.4 -74.4 8.4 41.3 CNZ (west side)
HAD-054 533884.3 2913658.5 515.0 -44.6 181.5 35.1 CNZ (north side, under NS)
HAD-055 533903.7 2913662.1 514.0 -44.6 182.3 14.9 CNZ (north side)
Notes:

  1. Collar co-ordinates surveyed by Leica TCRA1203+ R1000 Robotic total station
  2. Collar surveys of drill holes undertaken at c. 5-6m depth, using Reflex EZ-Trac survey tool
  3. All co-ordinates are UTM (WGS84) Zone 36R
  4. NS: Nubian Sandstone (outlier)

Table 1: Collar details of diamond drill holes HAD-041 to HAD-055

Figure 3: Crocs Nose Zone area – geology and drill hole collar plan. Source: Aton Resources

The recent drilling has confirmed the presence of outcropping gold-silver mineralisation at the CNZ, with all holes intersecting mineralisation, as expected. Details of all mineralised intersections are provided in Table 2, and selected intersections are shown below:

  • HAD-054: 1.57 g/t Au, 230.6 g/t Ag, and 4.28 g/t AuEq, over a 20.78m interval, from 12.66m depth
  • HAD-052: 1.84 g/t Au, 62.2 g/t Ag, and 2.57 g/t AuEq, over a 24.55m interval, from 6.45m depth
  • HAD-042: 1.37 g/t Au, 52.81 g/t Ag, and 1.99 g/t AuEq, over a 34.80m interval, from 2.00m depth
  • HAD-049: 1.63 g/t Au, 7.01 g/t Ag, and 1.71 g/t AuEq, over a 16.30m interval, from surface
  • HAD-045: 1.23 g/t Au, 41.01 g/t Ag, and 1.72 g/t AuEq, over an 18.90m interval, from 0.80m depth
Hole ID Intersection (m) 1 Au (g/t) Ag (g/t) AuEq (g/t) 2 Cu (%) Pb (%) Zn (%) Comments 3
From To Interval
HAD-041 2.00 15.80 13.80 1.50 72.70 2.36 0.01 0.02 0.01
HAD-042 2.00 36.80 34.80 1.37 52.81 1.99 0.01 0.03 0.04
HAD-043 31.50 54.30 22.80 0.89 4.67 0.95 0.01 0.02 0.02 includes 0.3m of core loss
and 70.35 85.95 15.60 0.52 54.49 1.16 0.01 0.01 0.02
HAD-044 6.80 23.85 17.05 0.52 13.08 0.67 0.02 0.03 0.03
and 28.95 31.15 2.20 1.78 28.95 2.12 0.01 0.01 0.05
HAD-045 0.80 19.70 18.90 1.23 41.01 1.72 0.01 0.31 0.04 includes 1.3m of core loss
HAD-046 12.60 23.70 11.10 0.47 37.25 0.91 0.01 0.37 0.02 includes 7.2m of core loss
HAD-047 0.00 6.40 6.40 1.00 67.67 1.80 0.01 0.04 0.03
HAD-048 0.00 17.35 17.35 0.75 54.98 1.39 0.06 0.45 0.02 includes 2.2m of core loss
HAD-049 0.00 16.30 16.30 1.63 7.01 1.71 0.01 0.04 0.04 includes 3.2m of core loss
HAD-050 1.45 11.45 10.00 0.28 6.27 0.35 0.18 0.03 2.48
HAD-051 Not assayed 4
HAD-052 6.45 31.00 24.55 1.84 62.20 2.57 0.03 0.50 0.11 includes 5.7m of core loss
HAD-053 13.52 18.70 5.18 0.61 21.35 0.87 0.44 2.61 2.16
HAD-054 12.66 33.44 20.78 1.57 230.6 4.28 0.01 0.02 0.01 includes 2.9m of core loss
HAD-055 0.00 5.81 5.81 1.88 18.22 2.09 0.01 0.02 0.03
Notes:

  1. Intersections calculated at a nominal cut-off grade of 0.3 g/t AuEq in runs of continuous mineralisation
  2. Gold equivalent, AuEq, is calculated at a ratio of 85:1 Au:Ag (ie. 1 g/t Au = 85 g/t Ag)
  3. Zones of poor (or no) recovery through voids and cavities were not sampled, and allocated zero grade
  4. Hole HAD-051 intersected SCMH-hosted mineralisation but was not assayed, as it was collared in the wrong position

Table 2: Mineralised intersections from the Crocs Nose Zone (Hamama West)

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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