Business
Aton Resources Updates Latest Developments at Hamama West, Rodruin and Within the Egyptian Minerals Sector; Grants Stock Options
VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSXV:AAN) (“Aton” or the “Company") is very pleased to update investors on t
About this update from Aton Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSXV:AAN) (“Aton” or the “Company\") is very pleased to update investors on the latest developments at the Company’s 100% owned Abu Marawat Concession, and within the Egyptian minerals sector. “Many positive developments for Aton have been crystalizing over the last several months on several fronts, that are now coming to fruition,” said Mark Campbell, President and CEO. “The first pass drilling program at the Rodruin prospect is set to commence shortly, testing a new zone of high grade gold mineralisation; we have submitted our study to EMRA in support of the declaration of a commercial discovery at Hamama West ahead of the Concession Agreement schedule, as promised; and all signs are pointing towards the long awaited reform of the Egyptian mining sector. We believe that our investors can therefore look forward to some significant progress for Aton in the coming months.” Hamama West StudyThe Company submitted a study completed by Wardell Armstrong International Ltd to the Egyptian Mineral Resources Authority (“EMRA”) on the Hamama West mineral deposit on May 31, 2018, in support of a commercial declaration and its application for an exploitation license at the Hamama project (see news release dated May 31, 2018), ahead of the schedule required under the terms of the Abu Marawat Concession Agreement (“CAAM”). This study has been reviewed by EMRA and has now been forwarded to the Minister of Petroleum for his final signature. Under the terms of the CAAM, the Company has a further six months from July 31, 2018 to address any issues, should they be raised, by EMRA and the Ministry of Petroleum (“MOP”).  ...