COMMUNIQUÉ DE PRESSE

par Aton Resources, Inc. (isin : CA0496AP2026)

Aton Reports the First Results From Its Diamond Drilling Programme at the Abu Marawat Deposit, Including 8.98 g/t Au, 185 g/t Ag, 0.43% Cu and 6.12% Zn Over an Interval of 3.90 Metres

VANCOUVER, BC / ACCESSWIRE / November 7, 2024 / Aton Resources Inc. (TSXV:AAN) ("Aton" or the "Company") updates investors on the results of the ongoing drilling at the Abu Marawat deposit, located within the retained exploration areas of the Company's Abu Marawat Concession ("Abu Marawat" or the "Concession") in the Eastern Desert of Egypt.

Highlights:

  • To date 35 diamond drill holes have been drilled at Abu Marawat, for a total of 3,381m. All holes have been drilled horizontally or at shallow angles to test previously undrilled near-surface mineralisation in an area of steep and mountainous terrain that is hard to access for conventional drilling rigs;

  • Results for the first 14 holes of the programme (AMD-101 to AMD-114) are now available, with significant high grade polymetallic mineralised intersections including:

  • 8.98 g/t Au, 185 g/t Ag, 11.16 g/t AuEq, 0.43% Cu, 0.23% Pb and 6.12% Zn over a 3.90m interval , from 82.10m downhole depth, from hole AMD-110;

  • 9.57 g/t Au, 92.9 g/t Ag, 10.66 g/t AuEq and 0.52% Cu over a 3.90m interval , from 24.20m downhole depth (hole AMD-107);

  • 6.24 g/t Au, 203 g/t Ag, 8.63 g/t AuEq, 0.30% Cu, 0.10% Pb and 4.81% Zn over a 2.60m interval , from 97.20m downhole depth (hole AMD-111);

  • 3.15 g/t Au, 172 g/t Ag, 5.17 g/t AuEq, 0.50% Cu, 0.23% Pb and 4.69% Zn over a 3.15m interval , from 82.50m downhole depth (hole AMD-112).

"I am pleased to announce these very encouraging first results from our new diamond drilling programme, the first new drilling that Aton has carried out at Abu Marawat since 2011" said Tonno Vahk, CEO. "This new drilling programme has been designed to test areas of previously undrilled mineralisation at Abu Marawat that lie outside or on the southern margins of the 2012 maiden resource. The primary objective of the new drilling programme is to upgrade the mineral resources at the Abu Marawat deposit to indicated category. This is an integral part of the longer term plan to bring the retained exploration areas into the exploitation lease, and ultimately leading to the development of multiple gold mining operations on the Concession including the Hamama West, Rodruin and Semna deposits, as well as Abu Marawat. In Egypt the Company continues to make steady progress with our partners the Egyptian Mineral Resources Authority towards the initial development of the Hamama West mine."

Abu Marawat gold-silver-copper-zinc deposit

The Abu Marawat gold-silver-copper-zinc deposit is located approximately 35km northeast of the Hamama West deposit and 10km north-northeast of the Semna gold mine project, and is accessed via a well maintained desert track from the Qena-Safaga highway, approximately 25km to the north (Figure 1). On March 1, 2012 Aton Resources, when formerly named Alexander Nubia International Inc, announced a maiden NI 43‐101 compliant Inferred Mineral Resource at Abu Marawat, prepared by Roscoe Postle Associates Inc., in compliance with the requirements set out in Canada's National Instrument 43‐101. The resource was subsequently restated in an updated Technical Report without amendment (see news release dated January 24, 2017), and which is available online at Aton's website at https://atonresources.com/investors/reports-and-presentations . This Inferred Mineral Resource was based on 98 diamond drill holes totalling 19,573 metres, of which 19 of these holes were drilled by a former property owner, Minex Minerals Egypt, a wholly owned subsidiary of Greenwich Resources Plc during the late 1980's, and the remainder were drilled by Aton in 2011. The Inferred Mineral Resource comprises 2.9 million tonnes at an average grade of 1.75 g/t Au, 29.3 g/t Ag, 0.77% Cu and 1.15% Zn , containing 162 thousand ounces of gold, 2.7 million ounces of silver, 49 million lbs of copper, and 73 million lbs of zinc, and was based on net smelter return ("NSR") cut‐off grades.

Figure 1: Geology plan of the Abu Marawat Concession, showing the location of the Abu Marawat deposit

The polymetallic mineralisation at Abu Marawat is interpreted as being mesothermal in origin, and occurs in a series of discrete and roughly parallel N-S to NNW-SSE trending veins and structures, of which the Fin Vein and the Central Vein zone ("CVZ") are the most significant, hosted within a sequence of intensely hydrothermally altered, felsic metavolcanic rocks (Figure 2). The Fin Vein and the CVZ are about 50m apart and have been traced for at least 800m in surface outcrop and drill holes. Aton's previous drilling has demonstrated that these structures extend to at least 200m in depth.

The mineralisation at Abu Marawat comprises a series of steep to near vertical finely brecciated quartz-iron-oxide±sulphide "veins". At surface the Fin Vein and CVZ are expressed by quartz-rich gossans, and all the larger structures display development of quartz-sericite-hematite±carbonate wallrock alteration in outcrop. The main ore minerals present are sphalerite, chalcopyrite, galena, electrum, gold, and a number of gold and silver tellurides such as petzite and hessite. The gangue minerals comprise quartz, limonite, ankerite, pyrite, magnetite and hematite. Close to the surface the carbonate minerals have been leached, and the sulphides are largely replaced by hemimorphite, willemite, chrysocolla, malachite, limonite and hematite. In the oxidised material, the gold occurs as minute free grains in limonite or malachite. In the fresh sulphide mineralisation gold is associated with tellurides and sphalerite.

To the north Abu Marawat is truncated by a large WNW-ESE trending fault postulated to run beneath wadi sediments. To the east a prominent ridge composed of altered ultramafic rocks (listwaenites) is thought to represent a significant geological terrane boundary (Figure 2).

Figure 2: Geology plan of the Abu Marawat area, showing the location of pre-2024 Aton drill holes

The bulk of the Inferred Mineral Resource at the Abu Marawat deposit encompasses parts of the CVZ and the Fin Vein, but there are also multiple, subparallel veins to the east and to the west of the CVZ and the Fin Vein, such as the J Vein and the JVZ structure that are currently largely undrilled, with the mineralised system at Abu Marawat remaining open both laterally and at depth.

Abu Marawat diamond drilling programme

The current diamond drill programme started at the beginning of June 2024, and represents the first significant new fieldwork that Aton has carried out at Abu Marawat since 2011. To date 35 diamond drill holes (holes AMD-101 to AMD-135) have been completed, for a total of 3,381m. All holes have been drilled horizontally or at shallow angles using Energold's Global Drilling ID500-G track-mounted rig (see news release dated November 23, 2021) previously used to drill at the Rodruin deposit. The programme has been designed to test previously undrilled near-surface mineralisation at the southern extent of the Abu Marawat deposit in an area of steep and mountainous terrain that is hard to access for conventional drilling rigs (Figure 3).

Figure 3: Drilling on hole AMD-101 at Abu Marawat (note the drill rig at the end of the road in the centre of the image, and ancient workings on the J Vein above and to the right of the drill access road)

Hole ID

Collar co-ordinates 1,2

EOH depth (m)

Dip

Grid azimuth

Target

X

Y

Z

AMD-101

563675

2932825

659

37.9

0.1

64.6

J Vein

AMD-102

563677

2932823

659

141.0

-13.8

99.5

J Vein, JVZ structure

AMD-103

563700

2932801

658

21.3

0.0

39.7

J Vein

AMD-104

563701

2932791

658

111.7

0.2

91.3

J Vein, JVZ structure

AMD-105

563701

2932793

654

150.7

-20.3

90.4

J Vein, JVZ structure

AMD-106

563709

2932764

653

117.3

0.2

87.0

J Vein, JVZ structure

AMD-107

563709

2932764

653

119.6

-31.3

85.5

J Vein, JVZ structure

AMD-108

563724

2932745

653

149.5

-0.8

87.7

J Vein, JVZ structure, Fin Vein

AMD-109

563724

2932745

653

151.0

-30.7

83.6

J Vein, JVZ structure

AMD-110

563906

2932870

660

115.3

-0.2

270.8

Fin Vein

AMD-111

563906

2932870

660

123.0

-31.4

274.7

Fin Vein

AMD-112

563906

2932876

660

112.6

-0.4

278.8

Fin Vein

AMD-113

563863

2932850

672

57.6

0.0

277.8

Fin Vein

AMD-114

563863

2932850

672

63.9

-31.6

279.2

Fin Vein

Notes:

  1. All co-ordinates are UTM (WGS84) Zone 36R

  2. Collars have all been surveyed using handheld GPS

  3. All drill holes were downhole surveyed using a magnetic survey tool

Table 1: Abu Marawat diamond drill hole collar details

Figure 4: Geology and drill hole collar plan of the southern extent of the Abu Marawat deposit

The assay results are now available for the first 14 holes of the programme, AMD-101 to AMD-114, which were designed to test the mapped J and Fin Veins, and the JVZ structure (Figure 4). The collar details of these holes are provided in Table 1. In this area the JVZ structure obliquely crosses the summit ridge line of the Abu Marawat hill (seen on the right of Figure 3), with the J Vein outcropping west of the ridge line, and the Fin Vein outcropping to the east. Due to the steep topography there has been no previous drilling carried out in this area to test the outcropping near surface mineralisation.

The first 9 holes of the new diamond drilling programme at Abu Marawat, AMD-101 to AMD-109, were designed to test the J Vein and JVZ structures which have been mapped at surface, from the west side of the main Abu Marawat hill (Figure 4). The J Vein and JVZ structure have returned good gold grades from surface grab and channel sampling.

Holes AMD-110 to AMD-114 were drilled from the east side on westerly azimuths and were primarily designed to test the Fin Vein (Figure 4). Hole AMD-108 was also extended far enough from the western side to intersect the Fin Vein.

Discussion of results

All intersection details from the programme are provided in Appendix A, with selected intersections shown in Table 2 below.

Hole ID

Intersection (m)

Au (g/t)

Ag (g/t)

AuEq (g/t) 1

Cu (%)

Pb (%)

Zn (%)

Comments

From

To

Interval

AMD-107

24.20

28.10

3.90

9.57

92.9

10.66

0.52

0.10

0.29

Shallow cross veins?

AMD-108

132.50

135.00

2.50

2.79

102

3.99

0.40

0.48

5.19

Fin Vein

AMD-110

82.10

86.00

3.90

8.98

185

11.16

0.43

0.23

6.12

Fin Vein

AMD-111

97.20

99.80

2.60

6.24

203

8.63

0.30

0.10

4.81

Fin Vein

AMD-112

82.85

86.00

3.15

3.15

172

5.17

0.50

0.23

4.69

Fin Vein

AMD-113

41.80

44.60

2.80

3.16

132

4.71

0.29

0.13

4.60

Fin Vein

AMD-114

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