More High Silver Values Shown as Aton Resources Returns 60.80 Metres of 1.20 g/t Gold Equivalent, Including 20.13m of 1.38 g/t Gold and 45.46 g/t Silver, at Hamama West
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/06/16 -- Aton Resources Inc. (TSX VENTURE: AAN) (the "Company") is very pleased to report results for six diamond drill holes in the current drill campaign at Hamama. Aton has drilled 38 holes totalling 3428.20 metres to date this year at Hamama West, one of three zones that comprise Hamama, found within the Company''s Abu Marawat Concession, and located in Egypt.
Highlights:
Mark Campbell, Chief Executive Officer of Aton Resources stated "We are very excited with these results from Hamama West that are continuing to confirm the potential of both the near surface enriched Gold-Oxide Cap and the deeper sulphide mineralization to host a significant resource. The abundant quantities of gold, silver and zinc, which have been seen throughout the Western Zone, are a hallmark of this polymetallic deposit. These holes show extensive mineralization confirming our last results and prove that underneath the fault the displaced exhalite mineralization continues. These results move us one step closer to achieving our goal of declaring a commercial discovery and building a mine at Hamama."
TABLE 1: Intersections using a cut-off grade of 0.5 g/t Au. Gold equivalent (AuEq) was calculated using the 12-month trailing average prices of Au and Ag as of August 28, 2016. The values used were $1,219.75/troy oz. for Au and $16.54/troy oz. for Ag. A ratio of 73.75 Ag:Au was used to convert grams of Ag to grams of Au.
TABLE 2: Intersections at 0.25 g/t Au cut-off grade.
The location of these drill holes is shown in Figure 1, and on Section 1 and Section 2 (figures 2 and 3). These sections are part of an integrated set of cross sections ("fences") of drill holes designed to intersect the target horizon and to follow it both down dip and along strike. Intersection spacing between holes and sections was optimised for the forthcoming resource calculation.
To view Figure 1, please visit the following link:
Figure 2 shows that a fault truncated the target horizon in hole AHA-064. Importantly, the intercept in AHA-062 shows that the mineralised horizon beneath the fault zone not only continues, but potentially increases in thickness at depth.
Drill hole AHA-062 encountered three distinct zones of mineralisation toward the upper contact of the main horizon, including 8.37 m containing 1.72 g/t Au & 29.3 g/t Ag from 85.3 to 93.67 m.
To view Figure 2, please visit the following link:
Section 2 (Figure 3) shows the impressive extent of the mineralised zone and the continuity of the mineralised horizon down dip. Drill hole AHA-068 intersected 60.8 m at 0.85 g/t Au & 25.86 g/t Ag from 12.2 to 73 m, and incorporated two higher grade intersections up to 49.7 metres thick ((at) 0.90 g/t Au & 29.05 g/t Ag from 13.3 to 63 m). Elevated silver values are a feature at Hamama West, and in the recent intersections, assays of up to 167 g/t Ag (AHA-072, 111 to 112 m) are reported. Section 2 also demonstrates that the thick mineralisation in hole AHA-068 continues above, to hole AHA-029 (43 m (at) 0.697 AuEq containing 0.46 g/t Au and 17.18 g/t Ag). Drill hole AHA-029 was drilled during a previous drilling campaign.
AHA-066, AHA-068 and AHA-072 confirm that the mineralisation occurs not only in the target horizon, but also in the altered andesites of the immediate stratigraphic footwall. This feeder zone, consisting of ankerite-sulphide stockwork and veinlets, is another potential ore zone. Hole AHA-066 encountered a thicker intersection of the target horizon down dip from AHA-068. The thicker mineralised horizon may be partially attributable to repetitive faulting. Ongoing geological modelling aims to explain this in the near future. Mineralisation in AHA-072 contains the highest individual silver assay in this news release (1m (at) 167 g/t Ag, from 111 to 112 metres), and shows that mineralisation is open down-dip.
To view Figure 3, please visit the following link:
INFORMATION CONCERNING HAMAMA VMS PROJECT
The Hamama project lies within a belt of mineralisation with old mines that extend east-northeasterly 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 mineralised horizon is divided into three main zones; Hamama West, Hamama Central and Hamama East. Mineralisation at Hamama outcrops at surface, and at Hamama West is deeply weathered into a soft and friable oxidized blanket referred to as 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-015, 32.6 m at 1.37 g/t Au and 56.4 g/t Ag in AHA-037 and 19 m at 2.46 g/t Au and 157.3 g/t Ag in AHA-046. 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 mineralisation at Hamama West returned such intercepts as 48 m at 1.45 g/t Au and 31.8 g/t Ag in AHA-023 and 88 m at 1.11 g/t Au and 118 g/t Ag in AHA-031 (see News Release dates May 12, 2015). The last drill hole from the 2015 drilling program, AHA-058, was entirely mineralised, 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 and 41.4 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). These elevated zinc and silver values will be studied further in the near future.
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, cover 2,772 km2 between them, much of it under-explored. 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 mineralisation 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 Jabal 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 low-gradient railway bed that runs through Abu Marawat concession to a Red Sea port, multiple high-voltage (capacity 220 kV) 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 .
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
Contacts:
Aton Resources Inc.
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
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Datum: 06.09.2016 - 10:35 Uhr
Sprache: Deutsch
News-ID 1456345
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