FOR IMMEDIAT E RELEASE Aton announces the final results from the resource infill RC drilling programme at Hamama West
FOR IMMEDIAT E RELEASE
Aton announces the final results from the resource
infill RC drilling programme at Hamama West
Vancouver, October 20, 2022: Aton Resources Inc. (AAN: TSX -V) (“Aton” or the “Company") is pleased to
update investors on the final results from the RC drilling programme at its Hamama West gold-silver project,
located in the Company’s 100% owned Abu Marawat Concession (“Abu Marawat” or the “Concession”), in the
Eastern Desert of Egypt.
Highlights:
• Assay results have now been received for the final 42 RC drill holes, HAP-163 to HAP-204;
• Significant intersections include the following:
• 1.43 g/t Au, 89.86 g/t Ag and 2.48 g/t AuEq over a 20m interval, from surface (drill hole HAP-163);
• 0.82 g/t Au, 18.80 g/t Ag and 1.04 AuEq over an 80m interval, from surface (hole HAP-167);
• 1.57 g/t Au, 29.99 g/t Ag and 1.92 AuEq over a 47m interval, from 26m depth (hole HAP-192);
• 0.54 g/t Au, 55.12 g/t Ag and 1.19 g/t AuEq over a 49m interval, from 76m depth (hole HAP-195).
“We are surely pleased to be able to report the final results from the successful infill RC drilling programme at
Hamama” said Tonno Vahk, Interim CEO. “Not only have we confirmed high grade quartz veins in new drilling
at West Garida, but the Hamama West results have been good, and we certainly believe that the drilling has
achieved its objective in terms of allowing us to upgrade the confidence of the inferred resource at Hamama.
The ongoing diamond drilling programme at Rodruin is nearly complete, and as soon as it is finished the rig
will then relocate to the Hamama area, where it will start testing currently undrilled oxide mineralisation at
Hamama East. Now that we have the final assay results in, we will soon be able to s tart on updating the
Hamama West mineral resource estimate, before we get on to the maiden Rodruin MRE. We continue to work
closely with our partners, the Egyptian Mineral Resources Authority, as we follow the plan agreed with them,
and move steadily forward, and towards our common goal of establishing new gold mines at Hamama and
Rodruin.”
Hamama West RC drilling programme
The Hamama West project has an indicated resource of 137,000 ounces of gold equivalent (“AuEq”, gold and
silver combined), and an inferred resource of 341,000 ounces AuEq. The uppermost oxide and transitional
component of the Hamama West deposit (the “oxide gold cap”) comprises an in ferred resource of 106,000
ounces AuEq (see news release dated January 24, 2017). Metallurgical testwork has indicated average gold
recoveries of 75.6% and 72.7% from oxide and transitional mineralisation types respectively (see news release
dated February 22, 2018), using standard heap leach processing technology. Aton plans to initial ly mine the
outcropping oxide gold cap of the deposit, which is mineralised directly from surface , as a low capex/opex
starter open pit mining operation, 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.
The reverse circulation percussion (“RC”) resource infill drilling programme at the Hamama West gold -silver
project (Figure 1) was completed on August 24, 2022. The programme was designed to primarily test the oxide
gold cap of the Hamama West mineral resource estimate (“MRE”), with the specific objective of upgrading the
confidence of the existing inferred resource. A total of 6,62 0m was drilled for the programme, predomina ntly
at the Hamama West zone. 3 holes were completed, for 297m, at the Western Carbonate zone, approximately
400m west of Hamama West. 5 holes were drilled at the West Garida prospect approximately 3km east of
Hamama West, for 390m, (see news release dated September 1, 2022), with the remaining 5, 933m drilled at
Hamama West.
Previous oxide gold cap drilling intersections from the programme include 2.90 g/t Au, 68.9 g/t Ag and 3.71
g/t AuEq over a 37m interval , from surface (drill hole HAP -115), 2.87 g/t Au, 54.3 g/t Ag and 3.51 AuEq
over a 22m interval, from 1m depth (hole HAP-110), and 3.71 g/t Au, 258.4 g/t Ag and 6.75 g/t AuEq over
a 12m interval , also from surface (drill hole HAP -137), see news releases dated August 26, 2022 and
September 27, 2022.
Figure 1: Geology plan of the Abu Marawat Concession, showing the location of the Hamama West project
Drill holes were laid out using handheld GPS, with all collars surveyed on the completion of the programme by
total station. Drill holes were down hole surveyed at appropriate intervals using a Champ GyroTM north-seeking
gyroscopic survey tool. The locations of the Hamama West drill holes are shown in Figure 2, and collar details
of holes HAP-163 to HAP-204 are provided in Appendix A.
Results
Selected significant intersections from the holes HAP -163 to HAP -204 are shown below in Table 1, and full
results from all holes are provided in Appendix B.
Figure 2: Hamama West RC drilling programme – drill hole collar plan (red: 2022 RC holes reporting;
blue: 2022 RC holes, previously reported; white: pre-2022 diamond drill holes)
Hole ID
Intersection (m) 1
Au (g/t) Ag (g/t) AuEq 2
(g/t) Comments
From To Interval
HAP-163 0 20 20 1.43 89.86 2.48 Oxide resource
HAP-164 0 23 23 1.00 43.48 1.51 Oxide resource
HAP-166 0 31 31 0.66 30.16 1.01 Oxide resource
HAP-167 0 80 80 0.82 18.80 1.04 Oxide/sulphide resource
HAP-169 0 32 32 0.81 33.33 1.20 Oxide resource
HAP-170 0 24 24 0.88 46.13 1.43 Oxide resource
HAP-173 0 21 21 0.87 34.59 1.28 Oxide resource
HAP-176 0 33 33 0.72 26.09 1.03 Oxide resource
HAP-181 0 12 12 1.68 187.4 3.88 Crocs Nose Zone
HAP-191 19 40 21 1.73 21.15 1.98 Hole ended in mineralisation
HAP-192 26 73 47 1.57 29.99 1.92 Oxide/sulphide zone
HAP-194 57 80 23 1.33 52.56 1.95 Oxide/sulphide zone
HAP-195 76 125 49 0.54 55.12 1.19 Sulphide zone
HAP-199 18 103 85 0.65 16.01 0.84 Oxide/sulphide zone
Notes:
1) Intersections calculated at a nominal cutoff grade of 0.5 g/t AuEq in runs of continuous mineralisation
2) Gold equivalent, AuEq, is calculated at a ratio of 85:1 Au:Ag (ie. 1 g/t Au = 85 g/t Ag)
Table 1: Selected mineralised intersections from RC percussion holes HAP-163 to HAP-204
Holes HAP -163 to HAP -176 were all drilled to test the outcropping oxide gold cap of the deposit, which
represents the oxide and transitional portion of the Hamama West inferred mineral resource. All these holes
intersected zones of Au-Ag mineralisation from surface, as expected (see Appendix B), except hole HAP-172,
which was collared on the structural footwall contact of the mineralised zone. Intersections included 1.43 g/t
Au, 89.86 g/t Ag and 2.48 g/t AuEq over a 20m interval (drill hole HAP-163), and 0.82 g/t Au, 18.80 g/t Ag and
1.04 g/t AuEq over an 80m interval (drill hole HAP -163, in oxide and underlying sulphide zones), with both
intersections from surface.
Holes HAP -177 to HAP -190 were all drilled to test an interpreted shallow ly west-dipping fault zone which
truncates the western margin of the main Hamama West deposit, and sinistrally displaces the oxide gold cap
about 200m to the south. Several of the holes intersected narrow zones of near surface mineralisation, outside
of the existing MRE, and c an be expected to add minor incremental tonnes to the revised MRE. Mineralised
intersections included 1.68 g/t Au, 187.4 g/t Ag and 3.88 g/t AuEq over a 12m interval from surface (drill hole
HAP-181), and 3.50 g/t Au, 34.17 g/t Ag and 3.91 g/t AuEq over an 3m interval, from 2m depth (hole HAP -
179).
Holes HAP -191 to HAP -194 were all drilled to test the interpreted extension of the main Hamama West
mineralised zone beneath the west -dipping fault zone at the western margin of the deposit. All 4 of the holes
intersected mineralisation, with hole HAP-193 finishing in the mineralised zone. Intersections included 1.57 g/t
Au, 29.99 g/t Ag and 1.92 g/t AuEq over a 47m interval from 26m depth (drill hole HAP -192), and 1.33 g/t Au,
52.56 g/t Ag and 1.95 g/t AuEq over a 23m interval from 57m depth (hole HAP -194). These 4 holes confirm
the depth continuity of the Hamama West deposit, further to the west of the surface outcrop of the
mineralisation.
Holes HAP-195 to HAP-201 were drilled to test potential deeper sulphide mineralisation outside the existing
sulphide MRE. Several holes failed to intersect significant mineralisation, but not all the holes reached the
target due to the depth limit of the rig, which could reach a maximum of 238m . Significant mineralise d
intersections included 0.54 g/t Au, 55.12 g/t Ag and 1.19 g/t AuEq over a 49m interval from 76m depth (hole
HAP-195) and 0.65 g/t Au, 16.01 g/t Ag and 0.84 g/t AuEq over an 85m interval from 18m depth (both oxide
and sulphide zone mineralisation in hole HAP-199).
3 holes were drilled to test weak discontinuous, mineralisation sampled at surface at the Western Carbonate
zone. None of the 3 holes, HAP-202 to HAP-204, intersected significant mineralisation.
Sampling and analytical procedures
The RC holes were drilled at 140mm diameter, and the bulk percussion chip samples were collected directly
into pre-written large plastic bags from the cyclone every metre, numbered with the hole number and hole
depths, and laid out sequentially at the drill site . Between each metre of drilling the cyclone and top box were
cleaned out with compressed air. The bags were then moved to a logging and storage area where the chips
were logged by Aton geologist s. The bulk 1m samples were weighed, and subsequently riffle split through a
3-tier splitter onsite by Aton field staff to produce an approximately 1/8 split, which was collected in cloth bags,
numbered and tagged with the hole number and depth. The splitter was cleaned with compressed air between
each sample. The reject material from this initial bulk split was re -bagged, labelled and tagged, and the bulk
reject samples will be stored and retained on site at Hamama. A representative sample of each metre was
washed, stored in marked plastic chip trays, each containin g 20m of samples, photographed, and retained
onsite as a permanent record of the drill hole.
All the 1m split samples were weighed again, and the samples were riffle split onsite at the Hamama sample
preparation facility, typically a further 3-4 times using a smaller lab splitter, to produce a nominal c. 250-500g
sample split for dispatch to the assay laboratory. Again the splitter was cleaned with compressed air between
each sample. The laboratory splits were allocated new sample numbers.
QAQC samples are inserted into the sample stream at a rate of approximately 1 certified reference material
(or “standard” sample) every 30 samples, 1 blank sample every 15 samples, and 1 field duplicate split sample
every 15 samples.
The c. 250-500g split samples were s hipped to ALS Minerals sample preparation laboratory at Marsa Alam,
Egypt, where they were pulverised to a size fraction of better than 85% passing 75 microns. From this
pulverised material a further sub-sample was split off with a nominal c. 50g size, which was shipped on to ALS
Minerals at Rosia Montana, Romania for analysis.
Samples were analysed for gold by fire assay with an atomic absorption spectroscopy (“AAS”) finish (analytical
code Au-AA23), and for silver using an aqua regia digest followed by an AAS finish (analytical code Ag-AA45).
Any high grade gold samples (Au >10 g/t) were re-analysed using analytical code Au-GRA21 (also fire assay,
with a gravimetric finish). High grade Ag samples (Ag >100 g/t) were re-analysed using the ore grade technique
Ag-AA46 (also an aqua regia digest followed by an AAS finish).
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, approx imately
200 km north of Centamin’s world-class Sukari gold mine.
Aton has identified numerous gold and base metal
exploration targets at Abu Marawat, including the
Hamama deposit in the west, the Abu Marawat deposit in
the northeast, and the advanced Rodru in exploration
prospect in the south of the Concession. Two historic
British gold mines are also located on the Concession at
Sir Bakis and Semna. Aton has identified several distinct
geological trends within Abu Marawat, which display
potential for the de velopment of a variety of styles of
precious and base metal mineralisation. Abu Marawat is
447.7 km 2 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, as are the
international airports at Hurghada and Luxor.
Qualified person
The technical information contained in this News Release
was prepared by Javier Orduña BSc (hons), MSc, MCSM,
DIC, MAIG, SEG(M), 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:
TONNO VAHK
Interim CEO
Tel: +1 604 318 0390
Email: [email protected]
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.
Appendix A – RC drill hole collar details
Hole ID
Collar co-ordinates 1
Dip 2 Grid
azimuth 2
EOH
depth (m) Comments
X Y Z
HAP-163 533966.6 2913771.1 513.8 -55 180 20 Targeting oxide resource
HAP-164 533966.3 2913781.1 513.9 -55 180 30 Targeting oxide resource
HAP-165 533968.1 2913794.4 514.6 -55 180 50 Targeting oxide resource
HAP-166 533968.3 2913811.0 514.4 -55 180 70 Targeting oxide resource
HAP-167 534000.3 2913802.3 518.0 -90 0 80 Targeting oxide resource
HAP-168 534016.4 2913790.2 518.6 -75 165 50 Targeting oxide resource
HAP-169 533999.7 2913791.5 518.6 -55 180 40 Targeting oxide resource
HAP-170 533999.8 2913782.9 518.8 -55 180 30 Targeting oxide resource
HAP-171 533999.7 2913772.3 518.4 -55 180 18 Targeting oxide resource
HAP-172 534020.7 2913762.4 514.6 -55 180 12 Targeting oxide resource
HAP-173 534020.9 2913771.6 514.5 -70 180 25 Targeting oxide resource
HAP-174 534037.1 2913774.3 513.6 -55 180 30 Targeting oxide resource
HAP-175 534036.9 2913756.1 517.1 -55 180 20 Targeting oxide resource
HAP-176 534062.1 2913769.3 520.1 -90 0 45 Targeting oxide resource
HAP-177 533914.3 2913699.5 510.8 -60 180 20 Western Boundary Fault zone
HAP-178 533912.5 2913680.9 511.8 -60 180 20 Western Boundary Fault zone
HAP-179 533892.9 2913679.9 511.9 -60 180 30 Western Boundary Fault zone
HAP-180 533912.6 2913662.5 514.4 -60 180 20 Western Boundary Fault zone
HAP-181 533894.2 2913659.5 514.6 -60 180 30 Western Boundary Fault zone
HAP-182 533869.5 2913657.5 514.9 -60 180 30 Western Boundary Fault zone
HAP-183 533869.4 2913672.2 514.9 -60 180 30 Western Boundary Fault zone
HAP-184 533870.5 2913710.0 514.5 -60 180 30 Western Boundary Fault zone
HAP-185 533894.6 2913702.8 512.5 -60 180 30 Western Boundary Fault zone
HAP-186 533915.1 2913720.5 510.1 -60 180 20 Western Boundary Fault zone
HAP-187 533916.4 2913745.1 509.2 -60 180 20 Western Boundary Fault zone
HAP-188 533909.9 2913759.5 508.9 -55 180 15 Western Boundary Fault zone
HAP-189 533893.5 2913743.0 512.3 -60 180 20 Western Boundary Fault zone
HAP-190 533895.5 2913760.6 510.0 -60 180 20 Western Boundary Fault zone
HAP-191 533870.3 2913798.7 505.6 -55 180 40
HAP-192 533870.9 2913816.1 504.7 -55 180 80
HAP-193 533841.8 2913812.4 505.1 -55 180 70
HAP-194 533841.0 2913832.6 500.2 -55 180 110
HAP-195 534277.0 2913897.2 519.6 -63 180 157 Targeting potential sulphides
HAP-196 534276.9 2913900.6 519.9 -77 180 166 Targeting potential sulphides
HAP-197 534242.9 2913917.9 526.9 -79 175 195 Targeting potential sulphides
HAP-198 534196.0 2913925.8 527.7 -80 175 238 Targeting potential sulphides
HAP-199 534050.2 2913868.2 507.0 -55 175 118 Targeting potential sulphides
HAP-200 534277.6 2913900.2 519.9 -85 175 184 Targeting potential sulphides
HAP-201 534085.6 2913919.9 511.4 -71 144 230 Targeting potential sulphides
HAP-202 533401.1 2913752.2 502.6 -50 180 106 Western Carbonate zone
HAP-203 533520.8 2913770.3 501.3 -50 180 106 Western Carbonate zone
HAP-204 533640.8 2913754.5 500.6 -50 180 85 Western Carbonate zone
Notes:
1) Collar co-ordinates surveyed by Leica TCRA1203+ R1000 Robotic total station
2) Collar surveys of drill holes undertaken at c. 3-6m depth, using a Champ Gyro north-seeking gyroscopic survey
tool
3) All co-ordinates are UTM (WGS84) Zone 36R
Appendix B – Significant intersections
Hole ID
Intersection (m) 1
Au (g/t) Ag (g/t) AuEq 2
(g/t) Comments
From To Interval
HAP-163 0 20 20 1.43 89.86 2.48
HAP-164 0 23 23 1.00 43.48 1.51
HAP-165 0 19 19 0.63 28.26 0.97
HAP-166 0 31 31 0.66 30.16 1.01
and 39 43 4 0.53 8.80 0.64
HAP-167 0 80 80 0.82 18.80 1.04
incl. 0 47 47 0.95 22.03 1.21
incl. 54 80 26 0.79 17.50 1.00
HAP-168 0 33 33 0.74 19.74 0.97
incl. 8 33 25 0.89 21.39 1.14
HAP-169 0 32 32 0.81 33.33 1.20
HAP-170 0 24 24 0.88 46.13 1.43
incl. 0 18 18 1.00 55.99 1.66
HAP-171 0 18 18 0.77 49.57 1.35
incl. 0 10 10 1.08 69.80 1.90
HAP-172 - - - - - - NSA > 0.58 g/t Au (0-1m)
HAP-173 0 21 21 0.87 34.59 1.28
HAP-174 0 14 14 0.60 23.96 0.88
HAP-175 0 9 9 0.67 15.66 0.86
HAP-176 0 33 33 0.72 26.09 1.03
incl. 0 20 20 0.81 36.47 1.24
HAP-177 - - - - - - NSA (drilled in hangingwall)
HAP-178 - - - - - - NSA (drilled in hangingwall)
HAP-179 2 5 3 3.50 34.17 3.91 Western Boundary Fault?
HAP-180 - - - - - - NSA
HAP-181 0 12 12 1.68 187.4 3.88 Crocs Nose zone
HAP-182 4 8 4 0.68 6.03 0.75 Western Boundary Fault?
and 27 29 2 0.74 61.15 1.46
HAP-183 - - - - - - NSA > 1.33 g/t Au (19-20m)
HAP-184 - - - - - - NSA
HAP-185 0 5 5 0.97 6.92 1.05 Western Boundary Fault?
HAP-186 - - - - - - NSA (drilled in hangingwall)
HAP-187 - - - - - - NSA (drilled in hangingwall)
HAP-188 0 5 5 0.44 29.28 0.79 Western Boundary Fault?
HAP-189 3 7 4 0.40 15.98 0.59 Western Boundary Fault?
HAP-190 0 3 3 1.31 21.57 1.56 Western Boundary Fault?
HAP-191 19 40 21 1.73 21.15 1.98 Hole ended in mineralisation
HAP-192 26 73 47 1.57 29.99 1.92
incl. 39 73 34 2.00 37.20 2.44
HAP-193 40 45 5 0.57 15.98 0.76
and 56 70 14 0.86 8.81 0.96 Hole ended in mineralisation
HAP-194 57 80 23 1.33 52.56 1.95
incl. 57 65 8 3.06 134.26 4.64
HAP-195 76 125 49 0.54 55.12 1.19
incl. 93 125 32 0.71 34.43 1.12
Hole ID
Intersection (m) 1
Au (g/t) Ag (g/t) AuEq 2
(g/t) Comments
From To Interval
HAP-196 - - - - - - NSA > 0.33 g/t Au on hangingwall
contact
HAP-197 175 188 13 0.75 20.64 1.00
HAP-198 - - - - - - No mineralisation
HAP-199 18 103 85 0.65 16.01 0.84
incl. 18 43 25 0.52 14.91 0.70
and incl. 61 103 42 0.87 19.75 1.10
HAP-200 - - - - - - NSA > 0.09 g/t Au on hangingwall
contact
HAP-201 - - - - - - NSA > 0.82 g/t Au, h/wall contact
not reached?
HAP-202 - - - - - - Western Carbonate zone
HAP-203 78 80 2 1.56 27.90 1.89 Western Carbonate zone
HAP-204 - - - - - - Western Carbonate zone
Notes:
1) Intersections calculated at a nominal cutoff grade of 0.5 g/t AuEq in runs of continuous mineralisation
2) Gold equivalent, AuEq, is calculated at a ratio of 85:1 Au:Ag (ie. 1 g/t Au = 85 g/t Ag)