Aton Resources has announced plans to drill Abu Gaharish concession by January 2021, President and CEO Mark Campbell stated.
Per the statement, the Abu Gaharish is believed to be of similar quality of the world-class Sukari deposit. The company has also announced several operational updates on Rodruin area, and Hamama West area. Aton stated that the second phase of exploration drilling at Rodruin will begin soon after the excellent results it received from the first program. The company’s main focus in the Rodruin area is to get a mineral resource estimate (MRE) as soon as possible.
As for Hamama West area, Aton plans to begin the first phase of development with the establishment of “a starter open-pit mine on the uppermost oxide portion of the deposit and a heap leach processing facility.” Later on, the company will expand the development project to 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.
According to a statement, Aton’s new investor, Mining and Manufacturing Company (MEDAF), has made an investment of $7 million. Through the new funding, Aton will be able to expand its exploration activities at the Abu Marawat Concession as well as funding Aton’s working capital requirements.
Campbell noted that “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.”