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Alexander Nubia International Announces Second Quarter Financial Results and Update on Key Project in Egypt
Alexander Nubia International Announces Second Quarter Financial Results and Update on Key Proje...
About this update from Aton Resources Inc.
[{"type":"text","content":"\nAlexander Nubia International Announces Second Quarter Financial Results and Update on Key Project in Egypt\n\nAlexander Nubia International Announces Second Quarter Financial Results and Update on Key Project in Egypt \n- Advances flagship Abu Marawat project -\nToronto, Ontario CANADA, August 26, 2011 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture)(\"AAN\" or the \"Company\"), today reported its financial results for the three- and six-month periods ended June 30, 2011. All amounts are in Canadian currency unless otherwise noted.\n\"Our second quarter was among our most active to date,\" said Alexander Massoud, President and CEO of Alexander Nubia International Inc.  \"The results of our ongoing drilling programs, which extended multiple sub parallel vein systems and intersected additional veins at depth, continue to validate our belief that Egypt's Eastern Desert is resource rich.  We are well on the path to developing a 43-101 compliant inferred resource estimate as a result of the successful $4.3 million capital raise that will fund our exploration activities through to the next milestone of the Company, a 43-101 resource statement.\" \nKey Operational and Financial Highlights of the Quarter\n* Completed Stage 1 - 7,500 metre diamond drill program in Q2-2011;\n* Advanced the Abu Marawat property by tracing the mineralization of the CVZ and FIN vein over strike lengths of 900 and 600 metres, respectively, with both vein systems open along strike and at depth; and discovered other vein systems at depth;\n* Intersected high-grade gold-silver-copper-zinc mineralization, AAM-035: 6.0 metres core length grading 16.8 g/t Au, 420 g/t Ag, 0.83% Cu, and 5.13% Zn;\n* Received encouraging results from Stage 1 drilling, which provides a sound basis to proceed with an additional 5,000 metres of drilling; the results of which will form the basis for our first NI 43-101-compliant resource estimate to be completed by year-end 2011; \n* Completed 2,661 metres of Stage 2 - 12,500 metre diamond drill program (as of the date of this release a further 1,396 metres has been drilled, for a total of 4,057 metres of the Stage 2 program); \n* Invested $1.7 million in exploration costs in its flagship Abu Marawat property; and\n* Generated gross proceeds of $5 million (net $4.3 million) via an underwritten prospect...