- Aton Resources Inc. (AAN) has received the gold-silver assay results from its Hamama West Project
- It has the data for 27 drill holes, HAP-136 to HAP-162
- Intercepts of gold were discovered with low to average grades, and significant silver was found
- The results met Aton’s expectations
- stated it will begin mining the outcropping oxide gold cap of the deposit
- Aton Resources Inc. (AAN) is unchanged, trading at $0.21 per share at 11:46 a.m. ET.
Aton Resources (AAN) has received the gold-silver assay results from its Hamama West Project in the Eastern Desert of Egypt.
The company stated it has the data for 27 drill holes, HAP-136 to HAP-162. Intercepts of gold were discovered with low to average grades, and significant silver was found as well. Aton is remaining hopeful as the results have met its expectations.
Tonno Vahk, Interim CEO of Aton, stated,
“These latest results from Hamama West continue to meet our expectations and are more than respectable… Aton is continuing to push ahead with the strategy agreed with our partners at the Egyptian Mineral Resources Authority, which will lead to the initial development of the starter open pit heap leach operation at Hamama West, followed by the Rodruin mine.”
The Hamama West Project has an indicated resource of 137,000 ounces of gold equivalent and an inferred resource of 341,000 ounces of gold equivalent. Metallurgical test work has indicated average gold recoveries of 75.60 and 72.70 per cent from oxide and transitional mineralization types.
Aton stated it will begin mining the outcropping oxide gold cap of the deposit, which is mineralized directly from surface, with a heap leach processing facility. The Hamama West oxides will provide early cash flow and will represent the first stage of phased mine development at the Abu Marawat Concession.
Aton Resources Inc. (AAN) is unchanged, trading at $0.21 per share at 11:46 a.m. ET.
