Operator

Aton Resources Inc.

Terms

1.0% NSR

Acquisition Date

2018 / May / 8

The Abu Marawat concession is 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 mineralized trend containing numerous gold exploration targets. Several distinct geological trends exist within Abu Marawat displaying potential for the development of orogenic gold deposits, VMS precious and base metal deposits, and iron oxide copper-gold precious and base metal deposits.

The Abu Marawat concession contains 596.3 km2 of property located in an area with good regional infrastructure. Numerous historic workings have been identified including ancient small-scale mining and three past-producing British mines (Semna, Sir Bakis and Abu Garida) which were in operation during the early 20th century. These old workings have been useful guides for exploration and Aton has advanced multiple targets to drill readiness.

Aton has been actively exploring since 2008 and its most advanced targets are Hamama West, where a gold-silver resource has been defined and an application for a 20-year exploitation license has been submitted, and the Abu Marawat gold-silver-copper-zinc vein, where a resource has been defined.

Aton is conducting exploration programs at several gold targets on the concession including Rodruin and Zeno. At Rodruin, sampling from surface, underground and from channels has confirmed the presence of high grade zones of gold mineralization.

Recent Activities

January 2019
Aton completed its phase 1 drilling program at the Rodruin prospect consisting of 50 drill-holes and 4,125 metres. Assay results include:

 - 36.0 metres at 12.5 g/t gold from 5.0 metres
 - 34.0 metres at 1.4 g/t gold from surface
 - 70.0 metres at 1.2 g/t gold from 11.0 metres

August 2018
A study was submitted to the Egyptian Mineral Resources Authority in support of an exploitation license application at the Hamana project. A decision to commence production at Hamama will be based on the results of a Preliminary Economic Assessment.

May 2018
Access roads have been completed at Hamama East in advance of anticipated drilling. Channel and grab sampling from surface have produced results indicating potential gold-silver-zinc oxide. Mineralized channel sample intersections returned results including 84.0 metres of 1.1 g/t gold, 49.7 g/t silver and 7.29% zinc.

Abu Marawat Royalty Map
Abu Marawat Royalty Map