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Aton posts initial resource for Hamama West deposit at Egyptian gold project

Aton Resources Inc. on Jan. 24 announced an initial National Instrument 43-101-compliant resource estimate for the Hamama West deposit, part of the company's Abu Marawat gold-silver concession in Egypt.

Hamama West, one of three contiguous zones that comprise the Hamama project at Abu Marawat, hosts indicated resources containing 88,000 ounces of gold and 3.4 million ounces of silver within 3.8 million tonnes grading 0.72 g/t of gold and 27.6 g/t of silver.

Inferred resources are estimated to contain 230,000 ounces of gold and 7.8 million ounces of silver within 8.2 million tonnes grading 0.87 g/t of gold and 29.7 g/t of silver.

Aton Resources noted that the Hamama West resource represents only 750 meters of the 3,000-meter-long mineralized horizon at Hamama, with the entire area remaining open at depth.

The company aims to improve grades and to increase and upgrade resources in the oxide cap through a short reverse circulation drill campaign.

In addition, the company has identified more than a dozen exploration targets along the 40-kilometer-long gold trend between Hamama and Abu Marawat gold deposits.

Aton's exploration program in 2017 will focus on expanding both the Hamama and the Abu Marawat resources. The company is working toward a preliminary economic assessment and converting its exploration permit to an exploitation permit in 2018.