Aton Resources issued force majeure compensation period

A force majeure compensation has been granted to Aton Resources for the Abu Marawat Concession in the Eastern Desert of Egypt.

Interim CEO Tonno Vahk confirmed the report and said they have been issued a six-month period which will be added to the final exploration period of its current exploration license thus allowing completion of maiden mineral resource estimate (“MRE”) at the Rodruin deposit, as well as updating the existing Hamama West MRE. The grant is under the provisions of the Abu Marawat Concession Agreement.

RC drilling

“We are very pleased to announce that this extra time has been added to the term of the Abu Marawat exploration licence, primarily to make up for time unavoidably lost during the Covid-19 pandemic. We wish to thank the Egyptian Mineral Resources Authority and the Ministry of Petroleum in Egypt for their continuous support and their assistance in making this happen,” he said.

“We will complete the diamond drilling at Rodruin within the next fortnight, where we have now drilled well over double the originally planned number of metres. Work is already well underway on the revision of the Hamama West MRE, following the completion of the RC drilling there at the end of August, and we will start working on the Rodruin maiden MRE immediately on receiving the final assays from the drilling programme in early 2023.The extra time we have been granted will also allow us to continue our ongoing exploration on the Concession as a whole, and we plan to start drilling several of our highly prospective regional targets during 2023, including Abu Gaharish, Semna and our recent new discovery at West Garida, ” he added.

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