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Be the first with the news that moves the market- Aton (AAN) has contracted Geodrill for 10,000 m of reverse circulation percussion (RC) drilling at the Abu Marawat Concession in Egypt
- Drilling will focus on Aton’s highly prospective five-hole 2022 RC program, followed by five additional prospects
- Rig mobilization is slated for early May
- Aton Resources explores for precious and base metals in Egypt
- Aton (AAN) opened unchanged trading at $0.185 per share
Aton (AAN) has contracted Geodrill for 10,000 m of RC drilling at the Abu Marawat Concession in Egypt.
Geodrill is a leading TSX-listed exploration drilling company with a fleet of 82 drill rigs operating in seven countries across Africa and South America. It operates the largest and most modern fleet of multi-purpose rigs on the African continent.
The 400 m depth capacity rig is expected to be mobilized during the first week of May 2023, with drilling starting at West Garida to follow up on Aton’s highly promising five-hole 2022 RC program. The focus will then shift to the Semna and Abu Gaharish prospects, followed by the Zeno, Bohlog, and Sir Bakis prospects.
“Geodrill are very much an expanding global player and are well established as one of Africa’s leading drilling companies,” said Tonno Vahk, Aton’s interim CEO. “We have been busy the last couple of months preparing for this program, with excavators and loaders working on access roads and drill pads around the license area, ahead of starting the drilling in early May.”
“We continue to work closely with our partners at the Egyptian Mineral Resources Authority, and are still on track for the submission of our application for the mining license at Abu Marawat in Q3 this year,” he added.
Aton Resources is exploring and developing its 100-per-cent owned Abu Marawat Concession in Egypt’s Arabian-Nubian Shield. The company has identified numerous gold and base metal exploration targets at Abu Marawat, as well as distinct geological trends with mineralization potential.
Aton (AAN) opened unchanged trading at $0.185 per share.
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