{"id":1181053,"date":"2020-04-28T11:15:17","date_gmt":"2020-04-28T16:15:17","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022021"},"modified":"2020-04-28T11:15:17","modified_gmt":"2020-04-28T16:15:17","slug":"aton-resources-granted-further-three-years-to-explore-in-egypt","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1181053","title":{"rendered":"Aton Resources granted further three years to explore in Egypt"},"content":{"rendered":"<p>Canada\u2019s Aton Resources (TSX-V: AAN) has been <a href=\"https:\/\/www.atonresources.com\/news\/2020\/aton-provides-corporate-update\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">granted a three-year extension<\/a> to its current exploration licence for the Abu Marawat gold asset, located in the central eastern desert of Egypt.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Vancouver-based miner <a href=\"https:\/\/www.mining.com\/egypt-greenlights-new-gold-mine-first-in-over-a-decade\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">became in February<\/a> the second foreign company allowed to mine gold and other metals in the Arabic country, which last year issued new regulations to ease foreign investment in the sector.<\/p>\n<p>The country\u2019s mineral wealth<br \/>\nremains largely under-explored and undeveloped, unlike its deposits of natural<br \/>\ngas. The lack of activity was due, in part, to Egypt\u2019s past system of royalties<br \/>\nand profit-sharing agreements. They made it difficult and unprofitable for miner<br \/>\nto explore for and exploit minerals.&nbsp;<\/p>\n<p>The fresh rules eliminated the need for miners to form joint ventures with the Egyptian government and limits state royalties to a maximum 20%.\u00ad<\/p>\n<h2><strong>Multiple targets<\/strong><\/h2>\n<p>The announced permit extension<br \/>\nallows Aton to continue exploration work on the concession while awaiting final<br \/>\namendments to Egypt\u2019s new mining laws.<\/p>\n<p>Aton has identified a number of<br \/>\ngold and base metal exploration targets in the Abu Marawat gold-copper deposit,<br \/>\nsuch as Rodruin, Abu Gaharish and Hamama West.<\/p>\n<p>The 600-sq.-km Abu Marawat<br \/>\nconcession has an inferred resource of 2.9 million tonnes grading 1.75<br \/>\ngrams gold per tonne, 29.3 grams silver per tonne, 0.77% copper and 1.15% zinc.<\/p>\n<p>Egypt, which links northeast Africa with the Middle<br \/>\nEast, has targeted $700 million in new investments in the mining and energy<br \/>\nsectors by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It allows Aton to continue exploration work on the Abu Marawat gold concession, while awaiting final amendments to Egypt&rsquo;s new mining laws.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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