Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company") is
pleased to update investors on 2 new gold mineralised prospects at
Safaga South and Wasif, identified and discovered during the
Company’s ongoing regional exploration programme (see Figure 1).
These new targets are both located within the Company’s 100% owned
Abu Marawat Concession (“Abu Marawat” or the “Concession”), located
in the Eastern Desert of Egypt.
Highlights:
- A number of ancient mine workings
and settlements have been identified at the Safaga South prospect.
Reconnaissance field inspection and grab sampling has been
undertaken, which has returned assays of up to 16.45 g/t Au from
mineralised quartz veins;
- At the Wasif prospect a significant
ancient mining settlement has been identified from satellite
imagery. Preliminary field inspection has identified a number of
ancient workings associated with gossanous metavolcanic rocks, in a
geological setting analogous to that of the Hamama deposit.
Preliminary grab sampling has returned assay grades of up to 0.98
g/t Au, 7.6 g/t Ag, 0.30% Cu, 0.20% Pb and 0.22% Zn.
“These two new discoveries, which have both
returned very positive preliminary results, are located in an area
previously unexplored by Aton, and highlight once again the overall
potential that exists across our Abu Marawat Concession area. Our
extensive regional exploration program begun in early 2017 has
uncovered many new potential targets, and of course led to our
major discovery at Rodruin.” said Mark Campbell, President
and CEO. “We will follow up the preliminary reconnaissance
work undertaken to date, including further sampling, with the aim
of outlining the potential size and disposition of the mineralised
areas, and developing an understanding of the different styles of
mineralisation that we are seeing at Safaga South and Wasif.”
Safaga
South
The Safaga South prospect is located at the
northeastern corner of the Abu Marawat Concession, on the southern
side of Wadi Safaga, and is approximately 14 km east-northeast of
the Abu Marawat deposit. Mineralised quartz veins have been
identified on the ground over an area of several square kilometres,
and have been partially worked in ancient times (see Figure 2).
There is also archaeological evidence of ancient dwellings and
alluvial wadi workings in the surrounding area. Aton has not been
able to locate any previous record of this apparently unknown
historical mining site.
Mineralisation was identified at Safaga South in
numerous quartz veins, mainly hosted in coarse grained basement
granodiorites, and close to the contact of a late Younger Granite
intrusion. The main zone of veins strikes approximately E-W (see
Figure 2), and can be traced for approximately a kilometre. The
host rocks are intruded by a series of late felsitic or aplitic
dykes which appear to be spatially related to the mineralised
quartz veins. The quartz vein mineralisation and the general
geology of the area show broad similarities to the Sir Bakis and
Zeno prospects, and possibly also to Bohlog and Abu Gaharish (see
Figure 1; and news releases dated September 13, 2017, May 30, 2018,
December 4, 2017, and December 19, 2017).
Figure
1: https://www.globenewswire.com/NewsRoom/AttachmentNg/9d817bf1-6c1c-471e-9825-d23267d9befd
12 selective grab samples were taken at Safaga
South during this first pass reconnaissance programme (see Figure
3). The programme returned very encouraging results with
half the samples having gold grades greater than 5 g/t Au,
up to a maximum of 16.45 g/t Au (see Table 1). These 12
samples returned a mean average grade of 5.29 g/t Au.
Sampling confirmed the presence of gold in both
the quartz veins as well as the altered, weathered and in places
sheared host rocks. The host granodiorites and felsites/aplites are
typically weathered, bleached and kaolinised, with some limonite
staining after pyrite and occasional minor copper staining. Quartz
veins typically occur on the margins of felsite/aplite dykes, and
mineralisation also occurs as networks of fine stringers and
veinlets hosted in altered felsites/aplites, associated with
weathered and disseminated pyrite.
Figure
2: https://www.globenewswire.com/NewsRoom/AttachmentNg/d888f2ec-984a-4eb4-8bd2-509496b6ed7b
Sample ID |
X |
Y |
Prospect |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Pb (%) |
Zn (%) |
AHA-17558 |
576065 |
2939308 |
Safaga South |
2.89 |
n/a |
n/a |
n/a |
n/a |
AHA-17559 |
575980 |
2939499 |
Safaga South |
5.62 |
n/a |
n/a |
n/a |
n/a |
AHA-17560 |
575984 |
2939496 |
Safaga South |
1.20 |
n/a |
n/a |
n/a |
n/a |
AHA-17561 |
576012 |
2939508 |
Safaga South |
2.02 |
n/a |
n/a |
n/a |
n/a |
AHA-17566 |
576412 |
2938483 |
Safaga South |
16.45 |
n/a |
n/a |
n/a |
n/a |
AHA-17567 |
576445 |
2938483 |
Safaga South |
8.91 |
n/a |
n/a |
n/a |
n/a |
AHA-17568 |
576797 |
2938532 |
Safaga South |
9.44 |
n/a |
n/a |
n/a |
n/a |
AHA-17569 |
576847 |
2938536 |
Safaga South |
5.72 |
n/a |
n/a |
n/a |
n/a |
AHA-17570 |
576892 |
2938542 |
Safaga South |
7.04 |
n/a |
n/a |
n/a |
n/a |
AHA-17571 |
576883 |
2938483 |
Safaga South |
3.11 |
n/a |
n/a |
n/a |
n/a |
AHA-17572 |
577209 |
2938597 |
Safaga South |
0.91 |
n/a |
n/a |
n/a |
n/a |
AHA-17573 |
577333 |
2939317 |
Safaga South |
0.11 |
n/a |
n/a |
n/a |
n/a |
AHA-17562 |
576131 |
2934897 |
Wasif |
0.03 |
0.5 |
0.06 |
0.01 |
0.04 |
AHA-17563 |
576235 |
2934041 |
Wasif |
0.98 |
7.6 |
0.29 |
0.20 |
0.22 |
AHA-17564 |
576213 |
2934118 |
Wasif |
0.07 |
1.9 |
0.30 |
0.01 |
0.10 |
AHA-17565 |
576267 |
2934522 |
Wasif |
0.04 |
0.9 |
0.22 |
0.01 |
0.06 |
AHA-17578 |
576174 |
2934886 |
Wasif |
0.02 |
0.6 |
0.08 |
0.00 |
0.19 |
AHA-17579 |
576293 |
2935000 |
Wasif |
0.01 |
<0.5 |
0.00 |
0.00 |
0.00 |
AHA-17580 |
576244 |
2935039 |
Wasif |
0.01 |
<0.5 |
0.01 |
0.00 |
0.01 |
Notes:
- All coordinates are UTM (WGS84) Zone 36R
- n/a – not assayed
|
Table 1: Safaga South and Wasif
grab sample assay results
Figure
3: https://www.globenewswire.com/NewsRoom/AttachmentNg/387e2d57-a762-466f-b3c3-d7d7d4ae1c68
Wasif
The Wasif prospect is located about 5 km to the
south of Safaga South, lies on the northeastern boundary of the
Concession, and was identified from satellite imagery by the
presence of a significant ancient mining village. A second large
settlement lies about 2 km further to the south, but has not yet
been visited. The layout of the many ancient houses suggests their
occupants were mining and processing alluvial gold at this second
site.
Preliminary field inspection of the Wasif area
indicated the presence of numerous small ancient mine workings
exploiting gossanous and iron-rich lenses occurring within a N-S
striking zone of highly sheared felsic metavolcanics and tuffs with
quartz stringers, which extends over a distance of at least 1-2 km.
This gossanous and sheared zone is contiguous with and parallel to
a distinctive silicate-carbonate unit.
7 selective grab samples were taken from the
Wasif area during preliminary reconnaissance and were analysed for
gold, silver, copper, lead and zinc, as well as a multi-element
geochemical suite, with assay results provided in Table 1. A single
sample returned grades of 0.98 g/t Au, 7.6 g/t Ag, as well as Cu,
Pb and Zn grades all in excess of 0.2%, as well as being
significantly anomalous in Ba, Bi and Mo. A further 2 of the 7
samples also returned strongly anomalous base metal values,
including grades in excess of 0.2% Cu.
Aton is very encouraged by the preliminary
inspection of the Wasif zone, with the identification of previously
unknown ancient mine workings and gossanous and iron-rich
metavolcanic rocks, indicating a significant primary sulphide
content in the precursor rocks. Preliminary grab sampling has shown
the presence of both gold, silver and base metal mineralisation at
Wasif. The lithologies present, notably the metavolcanics and the
silica-carbonate unit identified over a structural/stratigraphic
trend of at least 1-2 km in length, along with the strong
gold-silver-polymetallic geochemical anomalism and the gossanous
weathering of primary sulphides are all very similar to the Hamama
area.
Further field follow-up of the initial
reconnaissance fieldwork at both Safaga South and Wasif is
warranted and will be undertaken in the near future.
Sampling and analytical
procedures
Grab samples were manually and selectively
collected, and weighed in the order of 3-10 kg per individual
sample. The samples were then transported to and crushed to -4mm at
the Company’s onsite sample preparation facility at Hamama. The
final c. 500g splits were shipped to ALS Minerals at Rosia Montana,
Romania for analysis. All samples were analysed for gold by fire
assay with an atomic absorption spectroscopy (“AAS”) finish
(analytical code Au-AA23) with high grade gold samples (>10 g/t
Au) being re-analysed using analytical code Au-AA25 (also fire
assay with an AAS finish). The Wasif samples were also analysed for
silver, copper, lead and zinc using an aqua regia digest followed
by an AAS finish (analytical code AA45), and a multi-element
geochemical suite using a four acid digest with an inductively
couple plasma atomic emission spectroscopy (“ICP-AES”) finish
(analytical code ME-ICP61).
About Aton Resources Inc.
Aton Resources Inc. (AAN: TSX-V) is focused on
its 100% owned Abu Marawat Concession (“Abu Marawat”), located in
Egypt’s Arabian-Nubian Shield, approximately 200km north of
Centamin’s Sukari gold mine. Aton has identified a 40km long gold
mineralised 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 mineralisation, VMS precious and base metal
mineralisation, and epithermal-IOCG precious and base metal
mineralisation. Abu Marawat is over 738km2 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.
Qualified person
The technical information contained in this News
Release was prepared by Javier Orduña BSc (hons), MSc, MCSM, DIC,
MAIG, SEG(M), FGS, Exploration Manager of Aton Resources Inc. Mr.
Orduña is a qualified person (QP) under National Instrument 43-101
Standards of Disclosure for Mineral Projects.
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. 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.
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