PriceSensitive

Aton (TSXV:AAN) discovers high-grade mineralization in Egypt

Market News, Mining
TSXV:AAN
10 May 2022 12:30 (EST)

Source: Aton Resources.

Aton (AAN) has yielded up to 39.4 g/t gold and 261.7 g/t silver from its Rodruin Gold Project.

The results stem from phase II diamond drilling on the 100-per-cent owned Egyptian property. Drilling is testing for near-surface open-pittable resources, as well as deeper primary mineralization identified during phase 1 drilling.

Drill hole ROD-071 returned 5.76 g/t gold, 42 g/t silver, 0.31 per cent copper and 2.40 per cent zinc over 88.6 m, including 39.4 g/t gold, 261.7 g/t silver, 0.84 per cent copper and 3.55 per cent zinc over 9.9 m.

Other significant results include 17.1 m grading 1.07 g/t gold and 15.7 g/t silver (ROD-048), and 5.7 m grading 4.21 g/t gold and 14.6 g/t silver (ROD-070).

The results hold the potential for significant high-grade polymetallic sulphide gold resources at Rodruin.

Assays for holes ROD-074 and ROD-075 are pending. 

Drilling is ongoing with the property open in all directions, at depth and along strike.

“The sulphide intersection from hole ROD-071 is by some distance the best intersection Aton has ever drilled in Egypt,” stated Tonno Vahk, Aton’s interim CEO, “and is hugely encouraging for the deeper sulphide potential at Rodruin. The mineralization is hosted in very strongly altered sediments, associated with significant copper and zinc sulphides, and appears to be the fresh unweathered precursor to the high-grade mineralization that we intersected in the discovery hole ROP-003 at Aladdin’s Hill in 2018.”

“Everything that we are seeing is backing up our long-held belief that the Rodruin deposit comprises zones of bulk mineralization, containing discrete very high-grade zones. The mineralisation at Rodruin is rather unusual, but its association with silver, zinc and copper indicates a polymetallic association that is similar to what we see at the Abu Marawat and Hamama deposits, and it is our belief that these three deposits are all genetically related,” he added.

Aton Resources explores for gold and base metals at its Abu Marawat Concession in Egypt’s Arabian-Nubian Shield.

Aton (AAN) is up by 126.42 per cent trading at $0.60 per share as of 12:00 pm EST.

Related News