Aton President & CEO Updates Investors on Its Plans
VANCOUVER, Oct. 22, 2020 - Aton Resources Inc. (the “Company” or “Aton Resources”) (TSX-V: AAN) is pleased to share an update from its President and CEO Mark Campbell on the Company’s plans.
“It is with great pleasure that I finally have something to say to all of our shareholders. It may have seemed to have been a very long road - and it has! But the fact that we have been able to attract a strong financial strategic partner like MEDAF, will prove to be worth the wait.
“Now what everyone wants to know is what our plan is going forwards. It has two parts. Firstly, we will get back to the second phase of exploration drilling at Rodruin, which returned excellent results from the first program. We also plan to drill at Abu Gaharish, which we believe has similar geology to the world-class Sukari deposit 200 km to the south, as well as some of our other highly promising regional exploration targets. Timing will be dependent on rig availability and if we can bring one in and begin before Christmas we will, but I think January 2021 as a start date is realistically more likely. The goal here is to get to an MRE at Rodruin as fast as we can.
“Secondly, we will continue work at Hamama West, where our plan is to establish a starter open pit mine on the uppermost oxide portion of the deposit and a heap leach processing facility. This we envisage will be the first phase of the overall development of the entire Hamama project area. This will include additional resource delineation and definition drilling, further metallurgical, geotechnical and hydrological studies, and water well drilling leading to the establishment of a process water supply borefield.
“We are very excited to be getting back to work, as I am sure are all of you. So let me thank all of our very loyal shareholders, our strategic partners, old and new, and of course our very dedicated employees and directors.
“With the gold bid round held by EMRA having just successfully closed, and our acquisition of such a strong new partner in MEDAF, the future looks very bright for Aton Resources and Egypt. Aton never doubted that Egypt would one day be recognized as a world class exploration destination, which is why we have stuck to working here for the past 11 years.
“I will keep you up to date as we progress.”
| 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 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 Rodruin 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 development of a variety of styles of precious and base metal mineralisation. Abu Marawat is 447.7 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, as are the international airports at Hurghada and Luxor. | 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. | ||