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News 2017

Aton Provides Regional Target Identification Program Update; up to 26.6 g/t Gold and 21.1 g/t Gold Returned from Abu Gaharish and Bohlog Respectively

Jun 7, 2017 Download PDF

Vancouver, June 7, 2017: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company”) is pleased to provide investors with the results from the first phase of the regional target identification program at the Company’s 100% owned Abu Marawat concession (“Abu Marawat” or the “Concession”), located in the Eastern Desert of Egypt.

Highlights:

  • Aton’s field crews have sampled the Abu Gaharish, Bohlog, Waayrah, West Garida and Sir Bakis prospects;
  • Field inspection and sampling of the Abu Gaharish prospect has defined the presence of high grade structurally controlled gold mineralization over a strike length of almost 2km, coincident with a spectral anomaly;
  • Two-thirds of samples from Abu Gaharish returned assays greater than 1 g/t Au (see Appendix A), with channel and grab samples returning assays up to 22.6 g/t Au and 26.6 g/t Au respectively;
  • Field inspection and sampling of the Bohlog prospect area has indicated the potential for intrusion related gold mineralization in altered granodiorite host rocks. Channel and grab samples have returned assays up to 15.4 g/t Au and 21.1 g/t Au respectively (see Appendix B);
  • Dr Michael Brown (Mappa Mundi Surveys) has completed his review of the WorldView-3 high resolution multispectral data over the Hamama and Abu Marawat-Miranda-Semna survey areas (see news release dated April 4, 2017) and has identified 92 and 155 spectral targets from the 2 areas respectively.

Aton’s geologists have visited and carried out preliminary field inspections and sampling at Abu Gaharish, Bohlog, Waayrah, Black Gaharish, Semna East, Sir Bakis, and West Garida prospects (see Figure 1). Waayrah, Black Gaharish, and Semna East represent new areas of interest within the Abu Marawat Concession. Results have been received for the Abu Gaharish and Bohlog prospects, and results from the other areas sampled are expected in June. Potential for the development of intrusion related and structurally controlled orogenic gold mineralization has been identified at Bohlog and Abu Gaharish, respectively, with visible gold identified in samples from both locations.

“Early results from the regional target identification program demonstrate the district scale potential of Abu Marawat,” said Mark Campbell, President and CEO of Aton. “Historically, very little regional exploration work has been conducted on the Concession, with the focus of the Company being the Hamama and Abu Marawat deposits. However, we believe that the remote sensing and spectral data will help us to identify and zero in on high priority exploration targets, like Abu Gaharish and Bohlog, that could result in a new, significant discovery at Abu Marawat.”

Figure 1: Abu Marawat regional geology, showing the locations of Abu Gaharish and Bohlog

Abu Gaharish Prospect
The Abu Gaharish prospect is located approximately 30km east of Hamama (see Figure 1). There are a number of ancient houses, pits, trenches, and underground workings in the area, with archaeological evidence of ancient mining dating back over 3000 years to the New Kingdom period. The area has also been inspected for the potential of tungsten mineralization in the modern era (Klemm and Klemm, 2013).

As part of the Company’s regional target identification program, the Abu Gaharish area was identified as having potential for structurally controlled or orogenic gold mineralisation. In addition, the Abu Gaharish area was identified as having a coincident phyllic spectral anomaly from the recently completed Landsat-ASTER remote sensing study of Abu Marawat. Furthermore, several sigmoidal en echelon ancient workings were identified from satellite imagery on the margin of the Abu Gaharish granite and the surrounding meta-volcanic sequence, representing a potentially favourable site for the development of structurally controlled shear zone hosted gold mineralisation.

A preliminary field inspection indicated that the main ancient workings are associated with at least three mineralized quartz veins associated with highly sheared and altered granitic rocks, over a strike length of some 600m. The host granite is highly altered to sericite, chlorite, and kaolinite, and is sheared close to the veins. Fresh sulphides, including chalcopyrite and galena were identified within the quartz veins, as well as copper and lead supergene species, including chrysocolla and malachite, which are the most common accessory ore minerals seen. The quartz veins are seen to pinch and swell and have variable dips and strikes. The veins trend in a generally northerly direction, however, within the en echelon structure, the veins are sometimes seen to strike SE-NW. Parallel veinlets and stringers form surrounding zones of considerable thickness, and always accompany the main veins. In places the quartz veins and associated sheared host rock have been mined down to 10m and possibly deeper, as most of the ancient workings show signs of collapse. A number of other mineralized zones were identified to the north-east in meta-volcanics, to the south in altered serpentinites, and to the north and west of the main zone of historical workings, within the Abu Gaharish granite.

Figure 2: Sample locations and grades from the Abu Gaharish prospect

Aton’s field crews collected a total of 44 samples from the Abu Gaharish area (Figure 2), with the majority being rock chip channel samples taken across and perpendicular to the identified mineralized quartz vein structures. Other samples include chip composite samples and grab samples. Over 66 percent (29) of the samples returned grades over 1 g/t Au, including 14 percent (6) over 10 g/t Au, with grades including26.6 g/t Au, 22.6 g/t Au, 19.9 g/t Au, and 18.5 g/t Au (see Appendix A). Visible gold was also identified in several of the samples. The sampling has confirmed the presence of high grade gold mineralization over a strike length of almost 2km in the Abu Gaharish area (Figure 2). The highest-grade mineralization appears to occur on the vein margins which carry lenses of iron oxide and chrysocolla, replacing sulphides, with tiny flakes of visible gold.

Aton believes that the Abu Gaharish en echelon vein system has potential for reasonable depth continuity and that other parallel and “ladder” type structures are likely to exist near the main zone of workings. The presence of old workings and high-grade assay results from several samples in a zone approximately 250-300m west of the main mineralized zone (see Figure 2), as well as the widespread presence of wadi sediment cover very close to the exposed workings, also indicates the possible existence of parallel structures that are not exposed.

The initial field inspection and sampling indicates the potential for a high grade structurally controlled zone of gold deposition at Abu Gaharish centred on the ancient workings over a 500-600m strike length. Furthermore, sampling along both the southern and northern strike extensions of the ancient workings has confirmed the presence of high grade gold mineralization over almost 2km. Further follow-up sampling and geological mapping is planned at Abu Gaharish.

Bohlog Prospect
Bohlog is located approximately 18km east-north-east of Hamama (see Figure 1) and is centred around a large ancient settlement, with archaeological evidence of ancient mining dating from the New Kingdom through to the Early Arab periods, dating back over 3000 years (Klemm and Klemm, 2013). In 2012 the Company carried out limited sampling in the Bohlog area (see news release dated August 15, 2012), returning gold grades of up to 18.65g/t Au from samples of mineralized quartz veins. However, no follow up work was carried out until earlier this year as part of the Aton’s regional target identification program.

The Company’s field crews have identified several structures, including four separate mineralized zones, within strongly altered intermediate to felsic intrusive host rocks. The 2 main mineralized structures, Zone 1 and Zone 2, parallel each other and trend in a north-easterly direction (see Figure 3). Zone 1, the northern structure, can be traced through old workings and outcrops for approximately 1.5km while Zone 2, the southern structure, can be traced for approximately 1.2km. The main structures appear to be shallow dipping, 20-60 degrees to the south-east, and the quartz veins are hosted in zones of intense quartz-sericite-pyrite alteration. These broader alteration zones contain associated stringer and stockwork style mineralisation. The iron-stained quartz veins have patches of iron-oxide boxwork that contain visible gold, minor supergene lead minerals, and occasional copper staining. The host rocks at Zone 1 and the south west end of Zone 2 are phyllic altered quartz diorite or granodiorite. Kaolinite-argillic alteration is also widespread, particularly around Zone 2. Further, while strong local structural controls exist, the nature and the composition of the alteration suggests an intrusion driven hydrothermal system. Aton believes that the Bohlog area has good potential for the development of intrusion related gold mineralization.

A total of 93 samples were taken from the Bohlog area, primarily from Zones 1 and 2. Most of the samples were channel samples, taken across and perpendicular to the identified mineralised quartz vein structures (Figure 3). Other samples included chip composite samples and grab samples. The results of this program confirmed the 2012 results, with 35 of the samples returning grades over 1 g/t Au, and 4 returning grades over 10 g/t Au, up to a maximum of 21.1 g/t Au. One continuous channel sample profile over Zone 1 returned a combined intersection of 16.7 m @ 3.03 g/t Au (sample numbers 14018-14027 – see Appendix B).

Sampling has delineated mineralization over an area of at least 800 x 600m, with good potential for this area to further expand in size. Other localities have been identified from satellite imagery in the general Bohlog area that require field follow up. Additional sampling, geological mapping, and trenching are planned on Zones 1 and 2 at Bohlog, as well as ongoing regional evaluation of the Bohlog-Massaghat area for the potential development of intrusion related gold mineralization.

Figure 3: Sample locations and grades from the Bohlog prospect

Upside-down triangles are 2017 samples; diamonds are 2012 samples

Activity update:

  • Additional results from the preliminary field inspections and sampling conducted at Waayrah, Sir Bakis and West Garida prospects;
  • Crone Geophysics have completed a ground and downhole electromagnetic survey of the 6-km long prospective horizon (or the hanging wall contact) at Hamama. Interpretation of the survey data has commenced;
  • Metallurgical test work in preparation of a Preliminary Economic Assessment for Hamama West.

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 Sukari gold mine. Aton has identified a 40-km long gold trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east. In addition to the Hamama and Abu Marawat deposits, the trend contains numerous gold exploration targets, including three historic British mines. Abu Marawat is over 738km2 in size and is 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 Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), FAusIMM, SEG, GSA, SME, Vice President, Exploration, of Aton Resources Inc. Mr. Cavaney 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: +1-936-689-2589
Email: mcampbell@atonresources.com

Blaine Monaghan
Vice President, Investor Relations
Tel: +1 (604) 331-5092
Email: ir@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.

Appendix A – 2017 Abu Gaharish samples, assay data

Sample IDSample TypeLengthXYZAu ppmAg ppmCu ppmPb ppmZn ppm
AHA14010Chip composite564568291724947813.2571.58690273001170
AHA14011Grab564500291780946726.6037.3363060192
AHA14127Chip channel256457029172454662.893.256493195
AHA14128Chip channel1.556456629172424681.454.987444953
AHA14129Chip channel256456529172434690.120.581635
AHA14130Chip channel2.556456629172394720.700.7192353
AHA14131Chip channel256458229171374781.551.5614361090
AHA14132Chip channel256457729171374770.352.812211106
AHA14133Chip channel356457729171394802.072.9461040269
AHA14134Grab564555291727646711.457.9640422
AHA14135Grab564564291728146819.9050.9216023800519
AHA14136Chip channel1564577291735248122.6052.844104033
AHA14137Chip channel256457829173614811.601.130119126
AHA14138Chip channel0.556458329173664803.855.82115159
AHA14139Chip channel1.556458829174204782.283.22832281
AHA14140Chip channel156458829174364783.034.18624194
AHA14141Chip Sample56458929174364780.15<0.5757146
AHA14142Chip channel156460729174474760.19<0.531217
AHA14143Chip channel256462529175154870.741.836295189
AHA14144Chip channel0.556462729175154862.598.12966830
AHA14145Chip channel156462829175154860.881.721172150
AHA14146Chip Sample56460129175204822.000.811221334
AHA14147Chip channel1.556459729175214826.066.9229934
AHA14148Chip channel1.556459629175224821.051.725105178
AHA14149Chip channel256466929175934920.880.7835783
AHA14150Chip channel1.556466729175944910.180.6122764
AHA14151Chip channel156466629175954930.121.282237
AHA14152Chip Sample56468629176264960.140.8383255
AHA14153Chip Sample56470729176714890.642.85484128
AHA14154Chip Sample56475429177364802.636.937644136
AHA14155Chip channel156514929182565087.29354282011600106
AHA14156Grab composite56513329182545099.608.211526076
AHA14157Grab composite56464329180134604.86173229846
AHA14158Chip channel2564520291690048018.4523.921916486
AHA14159Chip channel156452029168984806.766.3671860510
AHA14160Chip channel156451829168984801.18454414
AHA14161Chip channel256451729168984800.08<0.542362
AHA14162Chip channel256448229168004890.404.3498637
AHA14163Chip channel2.556448729167804915.486.992509143
AHA14164Grab56422929168434874.036.52113233
AHA14165Grab56473129165245186.442.875711
AHA14166Grab56492429165335030.01<0.5587<294
AHA14167Chip composite256476529168525133.463.4979570
AHA14168Chip composite1.556466529166265237.739.72657648

Appendix B – 2017 Bohlog samples, assay data

Sample IDSample TypeLengthXYZAu ppmAg ppmCu ppmPb ppmZn ppm
AHA14018Chip Channel255025029204346700.47<0.53548
AHA14019Chip Channel255024829204346712.440.5420129
AHA14020Chip Composite0.455025029204396695.723.628941170
AHA14021Chip Channel255024729204376694.692.5563821525
AHA14022Chip Channel255024629204406717.844.8724562310
AHA14023Chip Channel255024429204406722.802.927466209
AHA14024Chip Channel255024229204416724.051.21369947
AHA14025Chip Composite0.355024129204446713.692.31277261
AHA14026Chip Channel255024029204456721.221.7634113
AHA14027Chip Channel255024029204476720.07<0.52735
AHA14028Chip Channel255016029203656800.36<0.52340
AHA14029Chip Channel255016129203666803.270.557243
AHA14030Chip Channel1.255016429203676803.781.323123
AHA14031Chip Channel255016629203656770.37<0.531977
AHA14032Chip Channel2550169292037167915.403.5887235
AHA14033Chip Channel0.255016929203696790.230.5815157
AHA14034Chip Channel0.355017129203686771.420.7829399
AHA14035Chip Channel255017729203686757.242.927461125
AHA14036Chip Channel255017729203666750.371.12641745
AHA14037Chip Channel255017729203656751.501.31377242
AHA14038Chip Channel255013429203276770.03<0.52529
AHA14039Chip Channel255013229203286770.10<0.52632
AHA14040Chip Channel255013129203306760.13<0.55546
AHA14041Chip Channel255013029203316781.941.433261
AHA14042Chip Channel255012229203316800.18<0.54927
AHA14043Chip Channel255015129203416770.34<0.5441115
AHA14044Chip Channel0.455015029203436772.180.822930
AHA14045Chip Channel255014929203456780.160.541398
AHA14046Chip Channel255014929203476780.24<0.521230
AHA14047Chip Channel255007929203026940.05<0.56853
AHA14048Chip Channel0.355007829203027030.720.8456147
AHA14049Chip Channel255007729203037020.18<0.56754
AHA14050Chip Channel255007729203057020.300.512934
AHA14051Chip Channel255007829203106990.250.631135
AHA14052Chip Channel255007829203116990.260.562139
AHA14053Chip Channel155022729204246770.921.42390457
AHA14054Chip Channel255022629204266762.960.710111140
AHA14055Chip Channel255022629204286770.46<0.531373
AHA14056Chip Channel255020129200346830.15<0.532213
AHA14057Chip Channel255020029200326820.160.61010496
AHA14058Chip Channel155019929200316830.613.02441643
AHA14059Chip Channel255019829200306812.766.9491005240
AHA14060Chip Channel255019629200296810.912.639722252
AHA14061Grab55020029200296772.197.3492430292
AHA14062Grab550191292001567520.4034.65415450201
AHA14063Grab55021029200196749.973.2601380857
AHA14064Chip Channel255020229200026744.221.422855316
AHA14065Chip Channel255020429200046734.303.1581885540
AHA14066Chip Channel255025529200576750.030.5421240
AHA14067Chip Channel255025429200596760.03<0.521048
AHA14068Chip Channel255025429200626770.08<0.532550
AHA14069Chip Channel255025229200656780.05<0.543476
AHA14070Chip Channel255024529200706790.02<0.531525
AHA14071Chip Channel255024629200726790.04<0.521115
AHA14072Chip Channel255024729200746800.02<0.51412
AHA14073Chip Channel255024829200766780.02<0.51325
AHA14074Chip Channel155023929200786800.01<0.55825
AHA14075Chip Channel255024029200796830.01<0.53631
AHA14076Chip Channel255024129200816810.01<0.511020
AHA14077Chip Channel255024329200836820.01<0.52621
AHA14078Chip Channel255024529200836820.01<0.51914
AHA14079Grab55059129208466760.450.54155
AHA14080Grab55059229208516790.01<0.5156106
AHA14081Chip Channel255067629209116760.01<0.55436
AHA14082Chip Channel25506762920909677<0.005<0.52110
AHA14083Chip Channel25506792920909676<0.005<0.58944
AHA14084Chip Channel455105829214046730.01<0.52119
AHA14085Chip Channel255045029197126581.310.532237332
AHA14086Chip Channel155045229197126581.731.012513120
AHA14087Chip Channel155045329197126590.791.119524306
AHA14088Chip Channel255060629202366540.21<0.54579
AHA14089Chip Channel155060729202376564.0713.218294157
AHA14090Chip Channel255060729202396560.621.017246331
AHA14091Chip Channel0.455067129202426630.661.1262520
AHA14092Chip Channel255067129202436633.350.74334307
AHA14093Chip Channel255089629203686630.17<0.554035
AHA14094Chip Channel155084929203406630.030.531563
AHA14095Chip Channel554995429211766820.01<0.54323
AHA14096Chip Channel55499602921230692<0.005<0.59116
AHA14097Chip Channel65499632921223690<0.005<0.53113
AHA14098Chip Channel65499692921218689<0.005<0.57535
AHA14099Chip Channel65499732921213688<0.005<0.58330
AHA14100Chip Channel75499762921207687<0.005<0.53215
AHA14101Grab55149129218726793.7428.4314631
AHA14106Grab55025329200266741.553.411378179
AHA14736Grab550203292039967021.105.22883740399
AHA14737Chip Channel0.855006029202596836.291.784940
AHA14738Chip Channel0.555005929202546851.070.491670
AHA14739Chip Channel155005629202496840.230.25133225
AHA14740Chip Channel155005729202496850.060.111588
AHA14741Chip Channel0.555021429200046637.877.6201945115
AHA14742Chip Channel155021629200036705.243.33518151085
AHA14743Chip Channel155021629200036690.680.4482977900
AHA14746Grab550216292000367013.157.2694790139