Aton Resources Inc. the CEO’s Review of 2017
VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (the “Company” or “Aton Resources”) (TSX-V:AAN) is pleased to share the thoughts of its President and CEO Mark Campbell on the company’s accomplishments in 2017.
“With the start of 2018, I thought that it would be appropriate to reflect back on 2017, a year that was by far the most exciting and productive of any in the history of Aton. There was so much news that it is good to remember the highlights of this extraordinary year.”
“We started 2017 by issuing our NI 43-101 compliant maiden resource estimate at Hamama West, which along with additional drilling has given us the base for our intention to declare a commercial discovery and apply for a mining license at Hamama in 2018. We also contracted Crone Geophysics to undertake and complete a time domain EM geophysical survey at Hamama, to assist us in confirming the geology and better defining our target areas.”
“We received the results of our Landsat-ASTER remote sensing study, undertaken by Mappa Mundi Surveys, which coincided with the start of our aggressive regional exploration program over our 738 km2 Abu Marawat Concession area. We then acquired additional WorldView-3 high resolution satellite imagery over the Hamama and Abu Marawat-Miranda-Semna areas, which was used for further detailed spectral targeting and photo-interpretation. The results from these remote sensing studies were significant in that they have identified numerous previously unknown targets, some of which have turned out to have significant potential, of which the most prospective is the new Rodruin discovery. Rodruin was identified in a relatively remote location from the satellite imagery and remote sensing data, and has most likely hardly been visited in well over 1000 years. Very substantial ancient mining activity was identified when the Rodruin spectral anomaly was field inspected, as well as the presence of abundant coarse gold and native silver in samples.”
“With the regional exploration program in full swing, we were able to identify numerous new targets, starting with the new discovery of VMS style mineralization at Waayrah in June. This was followed swiftly by the return of excellent surface sampling results from the Abu Gaharish and Bohlog prospects. We were also able to develop more comprehensive geological models at previously identified targets, including the two old British gold mines at Semna and Sir Bakis, both of which returned excellent assay results from surface sampling. But from September onwards, things became more exciting on the exploration front as we made two potentially very significant discoveries: the first at West Garida, located only 3 km from Hamama West, and of course Rodruin in December, which we believe is very likely to become the biggest gold discovery to date in Aton’s 10 year history. We also were able to upgrade Abu Gaharish to one of our top three exploration targets, with the identification of potential RIRG style gold mineralization along the entire >5 km eastern margin of the Gaharish granite pluton. So by the end of the year we were able to break down our portfolio into prioritized targets. Hamama is now a development project, and Rodruin, Abu Gaharish and West Garida are our primary exploration targets, along with 15 other important exploration targets including such areas as Semna, Sir Bakis, Waayrah and Bohlog across our license area.”
“The other significant event was in October: we announced our intention to declare commerciality at Hamama and to apply for our 20 year mining license. This will be the first such commercial declaration since Centamin at the now world-class Sukari deposit in 2001, and the first under EMRA. We have begun work on our study in support of commerciality, and column leach metallurgical testing of bulk composite samples by Wardell Armstrong International in the UK is well advanced, and has returned favorable preliminary results. We are working towards the construction of an initial heap leach processing facility to support an open pit mine on the oxide gold cap at Hamama West. In conjunction with producing our study, Cube Consulting will be updating our maiden resource estimate at Hamama West. The favorable stratigraphy at Hamama is over 6 km in strike length, with further mineralization identified at surface from Hamama Central, Hamama East, as well as at Hamama West, which we believe will only be the starting point.”
“The significant accomplishments at the Abu Marawat Concession area in 2017 cannot be underestimated. Never in Aton’s history has so much been accomplished and all of this within one year. From our declaration to seek a mining license, and the offer by EMRA to grant a two year extension to our current exploration license over the whole of the Abu Marawat Concession area, to the significant discoveries at Rodruin, Abu Gaharish and West Garida, as well as the identification and advancement of another 15 significant exploration targets, 2017 was an exceptional year and is a prelude to what we expect will be Aton’s biggest year in 2018.”
“Things to look out for as we move into 2018 are the assay results back from Rodruin which are expected in late January, the results of the deep ground penetrating radar geophysical survey, carried out by Terravision Exploration, and our study to support the declaration of commerciality at Hamama West in May.”
“I would like to say that none of this could have been accomplished if not for our outstanding exploration team, both expat and national, based at the Hamama exploration camp, and our staff in both Cairo and Vancouver. It is a real privilege for me to be associated with them. It is also important to recognize the support that we have received from our drilling and geophysical contractors, and other consultants and advisors, for they have also helped to make this possible. Furthermore the support and guidance from our Directors and Advisory Directors over the past year has been a huge help in achieving our goals. Of course it goes without saying that I extend my gratitude to our investors who have supported us, and in particular to our two cornerstone investors OU Moonrider and OU Hektik, as it has been through their belief in Aton and unswerving support that we have gotten to where we are today. To all of them I extend my most heartfelt thanks.”
“May I take this opportunity on behalf of all of us at Aton Resources to wish everyone a happy, healthy and prosperous 2018.”
About Aton Resources Inc.
Aton Resources Inc. (TSX-V:AAN) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”), located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s Sukari gold mine. Aton has identified a 40 km long gold mineralized trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of RIRG and orogenic gold mineralization, VMS precious and base metal mineralization, and epithermal-IOCG precious and base metal mineralization. Abu Marawat is over 738 km2 in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity.
For further information regarding Aton Resources Inc., please visit us at
www.atonresources.com or contact:
Mark Campbell
President and Chief Executive Officer
Tel: +202-27356548
Email: mcampbell@atonresources.com
Note Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements. 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.
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