Aton Resources Inc.
TSX VENTURE : AAN

Aton Resources Inc.

October 11, 2016 17:05 ET

Aton Continues to Encounter Gold Mineralization at Hamama West and Confirms That Mineralization Extends to Depth and Along Strike

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 11, 2016) - Aton Resources Inc. (TSX VENTURE:AAN) ("Aton" or the "Company") is pleased to report the results for another six drill holes from the recently completed 38-hole diamond drill campaign, totaling 3,428 metres, at Hamama West. Aton has reported 14 drill holes to date, including these six holes, and will release the remaining holes as assays are received and the results consolidated. Hamama West is one of three zones that comprise the Hamama project, situated within Aton's 100% owned Abu Marawat concession, located in Egypt.

Highlights:

  • Drill hole AHA-061 intersected 32.8 metres at 1.09 g/t gold (Au) and 25.59 g/t silver (Ag) from 122.0 to 154.8 metres. This intersection is approximately 70 metres down dip from the 28.0 metres at 2.23 g/t Au and 42.2 g/t Ag previously reported in drill hole AHA-060 (see news release dated July 14, 2016).
  • Drill hole AHA-067 encountered 28.3 metres at 1.08 g/t Au and 59.99 g/t Ag from 82 to 110.3 metres. This intersection is approximately 50 metres down dip from the 28.5 metres of 0.39 g/t Au and 7.4 g/t Ag, an oxide zone intersection, previously reported in drill hole AHA-032 (see news release dated June 9, 2015).
  • Drill hole AHA-071 was drilled to a depth of 266.3 metres and encountered several mineralized zones, including 39.96 metres at 0.62 g/t Au and 79.43 g/t Ag and 24 metres of 0.66 g/t Au and 40 g/t Ag.
  • In addition to gold and silver mineralization, drill holes AHA-067, AHA-070, AHA-071 and AHA-061 intersected significant zinc mineralization. Drill hole AHA-067 intersected 100.1 metres of 1.48% Zn, from 16 metres downhole; drill hole AHA-70 encountered 20.88 metres of 0.97 % Zn and drill hole AHA-071 intersected 70 metres of 1.52% Zn. The highest zinc value, 2.21% Zn over 3.04 metres, was encountered in drill hole AHA-061.

"We continue to be excited by the drill results from Hamama West," stated Mark Campbell, Chief Executive Officer of Aton. "The latest drill results demonstrate the continuity of gold mineralization down dip and the results from the deeper holes confirmed our belief that mineralization continues to depth. This is significant because it means that there is potential for the sulphide mineralization to host a significant resource. In addition to gold and silver mineralization, we also encountered significant zinc mineralization. For example, drill hole AHA-067 intersected 100.1 metres of 1.48% Zn. Today's results bring us one step closer to publishing a maiden resource for Hamama West, which we expect to announce sometime in the 4th quarter. We look forward to publishing additional drill results and continuing to advance Hamama."

Table 1: Intersections using a 0.50 g/t Au cut off.

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
AHA-061 126.00 154.80 28.80 1.21 27.89
AHA-067 84.00 106.30 22.30 1.28 63.88
and 144.40 147.74 3.34 0.60 10.89
AHA-070 194.00 197.00 3.00 0.61 21.10
AHA-071 47.00 61.00 14.00 0.98 70.80
and 69.00 72.63 3.63 0.75 142.10
and 114.00 126.80 12.80 0.97 60.41
and 165.90 171.00 5.10 0.68 59.31
and 178.00 187.80 9.80 1.05 35.03
AHA-073 167.73 168.30 0.57 1.25 111.00

Table 2: Intersections using a 0.25 g/t Au cut off.

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t)
AHA-061 95.00 99.00 4.00 0.59 23.25
and 122.00 154.80 32.80 1.09 25.59
AHA-067 67.00 78.50 11.50 0.44 30.83
and 82.00 110.30 28.30 1.08 59.99
and 133.00 153.70 20.70 0.41 10.94
and 156.80 160.80 4.00 0.31 303.20
AHA-070 186.60 223.80 37.20 0.41 16.30
AHA-071 43.00 82.96 39.96 0.62 79.43
and 102.13 106.95 4.82 0.29 23.87
and 110.00 134.00 24.00 0.66 40.68
and 146.00 193.40 47.40 0.53 30.68
AHA-073 167.73 168.30 0.57 1.25 111.00

Table 3: Intersections using a 0.50% Zn cut off.

Hole ID From (m) To (m) Interval (m) Zn (%) Cu (%) Pb (%)
AHA-061 151.76 154.80 3.04 2.21 0.11 0.71
AHA-064 23.40 25.40 2.00 0.95 0.03 0.03
AHA-067 16.00 116.10 100.10 1.48 0.08 0.22
AHA-070 25.00 33.00 8.00 0.59 0.02 0.02
and 40.33 61.21 20.88 0.97 0.04 0.05
AHA-071 3.50 14.65 11.15 0.90 0.08 0.08
and 21.45 24.30 2.85 0.57 0.08 0.05
and 33.62 82.96 49.34 1.21 0.07 0.21
and 97.00 100.13 3.13 1.34 0.02 0.17
and 111.00 181.00 70.00 1.52 0.10 0.19

The location of the drill holes reported in this release are shown on the map in figure 1 and in cross sections, figures 2 and 3. As explained in a previous news release, these drill hole "fences" were planned to follow the target horizon down dip and along strike. In addition, the spacing of drill holes was designed with the forthcoming resource calculation in mind.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/1072197_fig1.jpg

Figure 1.

Geological map of the western end of Hamama West showing cross sections "A" and "B".

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/1072197_fig2.jpg

Figure 2.

Cross section "B" showing intersections for hole AHA-061 as well as AHA-034, AHA-059 and AHA-060 (drill holes AHA-034, AHA-059 and AHA-060 were reported previously). Note the continuity indicated by the intersections in drill holes AHA-061, AHA-060 and AHA-059. Also note zinc intersections.

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/1072197_fig3.jpg

Figure 3.

Cross section "A" showing the intersections in drill hole AHA-067 and drill hole AHA-032 (drill hole AHA-032 was reported previously). Note the almost continuous nature of the mineralized horizon down dip. Although drill hole AHA-073 intersected over 70 metres of the target horizon at depth, the intersection did not include significant gold or base metal values. The Company expects that the upcoming geophysical survey will help it to better target gold and base metal mineralization at depth.

About the Hamama project

The Hamama project ("Hamama") is located at the western end of the 40km long gold trend at the Abu Marawat concession and is comprised of three zones, Hamama West, Hamama Central and Hamama East. The mineralized horizon at Hamama has a strike length of approximately 3km and remains open to the west and the east. Mapping indicates that the horizon may extend another 3.2kms to the east, which would more than double Hamama's current strike length. Further exploration work will be conducted to confirm this. Aton's most recent exploration activities have been focused at Hamama West, where it recently completed 38 diamond drill holes in 3,428 metres. Hamama West has been deeply weathered into a soft, friable oxidized gossan blanket, referred to as a gold-oxide cap, which is over 900 metres long, up to 110 metres wide and has an average vertical depth of 35 metres. Importantly, sulphide mineralization has been traced up to 180 metres in depth at Hamama West and remains open. Aton plans to publish a NI 43-101 compliant resource for Hamama West in 2016.

About Aton Resources Inc.

Aton Resources Inc. (TSX VENTURE:AAN) is focused on its 100% owned Abu Marawat concession, located in Egypt's Arabian-Nubian Shield, approximately 400km north of Centamin's Sukari gold mine. Aton has identified a 40km long gold trend at Abu Marawat, anchored by the Hamama project in the west and the Abu Marawat gold deposit in the east. In addition to the Hamama project and the Abu Marawat gold deposit, the trend contains numerous gold exploration targets, including two historic gold mines. Abu Marawat is over 738 sq. km in size and is located in an area of excellent infrastructure, a four-lane highway, railway line, 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), AusIMM (f), SEG, GSA, SME, Exploration Manager for 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.

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.

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