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Alexander Nubia Announces Filing of NI 43-101 Technical Report for its Abu Marawat Concession in Egypt
Alexander Nubia Announces Filing of NI 43-101 Technical Report for its Abu Marawat Concession ...
About this update from Aton Resources Inc.
[{"type":"text","content":"\nAlexander Nubia Announces Filing of NI 43-101 Technical Report for its Abu Marawat Concession in Egypt\n\nAlexander Nubia Announces Filing of NI 43-101 Technical Report for its Abu Marawat Concession in Egypt \nToronto, Ontario CANADA, April 16, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), (the \"Company\") is pleased to announce that it has filed a National Instrument 43-101 - Standards for Disclosure of Mineral Projects  (\"NI 43-101\") technical report related to its previously announced NI 43-101 inferred resource estimate for the Abu Marawat Deposit in the Abu Marawat Concession, located in the Eastern Desert, Egypt. \nThe independent technical report, titled \"Technical Report on the Abu Marawat Concession, Egypt\" (the \"Technical Report\"), dated April 5, 2012 was prepared for the Company by Wayne W. Valliant, P.Geo., and Bernard Salmon, ing., of Roscoe Postle Associates Inc. of Toronto, Canada, each a \"qualified person\" within the meaning of NI 43-101.  The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.alexandernubia.com.   \nThe Technical Report reported a NI 43-101 inferred resource estimate on the Abu Marawat Project Deposit of approximately 2.9 million tonnes at an average grade of 1.75 g/t Au, 29.3 g/t Ag, 0.77 % Cu and 1.15 % Zn. The inferred resource estimate contains 162 thousand ounces Au, 2.7 million ounces Ag, 49 million lbs Cu, and 73 million lbs Zn, which, using the metal prices in the Technical Report, equates to 397,000 ounces of gold+gold equivalent(1). \nTo advance the Abu Marawat Project Deposit to an inferred resource, the Company completed over 18,000 metres of diamond drilling.  With approximately $6 million in direct expenditures on the Abu Marawat Deposit and based on its 397,000 oz of gold+gold equivalent content(1), equates to a per-ounce discovery cost at $15/oz. \nAbu Marawat Project Highlights \n* The resource, of approximately 2.9 million tonnes, is calculated on 50% of the available 1,500 metre strike length of the vein system to an average depth of 200 metres\n* Classified as mesothermal deposit; this type of deposit has a potential vertical extent of mineralization of over 1,500 metres\n* Open-pit potential of up to 60% of the current resource(2)\n*...