Historical gold and copper mining district
The Abu Marawat Property occurs within a historical gold and copper mining district in the Abu Marawat Concession and is situated in the Eastern Desert of the Nubian Shield in Egypt. A re-emerging mining district with historical mining dating back to Pharaonic times. Including numerous old workings demonstrate the resource potential with the application of modern exploration and mining techniques. The discovery of Centamin Egypt’s Sukari Mine which now has global resources over 14 M oz of gold has brought a great deal of attention to the Eastern Desert. Alexander Nubia’s management team has been successful in establishing the prospective land claim, one of the largest in the Eastern Desert, as it advances its Abu Marawat Property to a NI 43-101-compliant resource estimate
The Abu Marawat Property
The Abu Marawat Property, which is located in the Abu Marawat Concession, has excellent infrastructure and support including good gravel roads, electricity grid lines; railroad access and availability of experienced work force. It is in close proximity to the Port of Safaga, Qena, and Hurghada International Airport. Weather and terrain allows for year round exploration on the property.
In 2008, Alexander Nubia won an international competitive auction through the Ministry of Petroleum to have the right to explore and develop gold and associated minerals.. The previous operator of the property was Centamin Egypt Limited (TSX: CEE), which mandatorily relinquished the property. Alexander Nubia owns 100% of the Abu Marawat concession.
The Abu Marawat Property is a gold rich, polymetallic deposit and has had preliminary exploration, including a historical resource estimate of 94,000 oz of Au and Au/Ag equivalent by Fluor Daniel (1995), based on drilling by Minex in 1988-1989. The deposit is a gold-rich polymetallic mesothermal quartz vein system. Mineralization occurs pre- and post-faults. Geology, geophysics and geochemistry outlined potential of the vein zone for a strike length of 1,500 m. Drilling conducted by Alexander Nubia has intersected mineralization to a depth of 230 m and is open both along strike and at depth.
In 2010, the Company completed geological mapping, geophysics and soil sampling of eight targets representing old workings and historical mines, and prioritized targets for further exploration and drilling. Drilling initially targeted the Abu Marawat gold-copper-zinc-silver property, were identified a 1,500 m vein structure known to extend beyond the historical resource area. The Company began a drilling program in 2011 on the central vein zone (CVZ).
Initial NI 43-101 Compliant (Resource estimate by Rosco Postle Associates)
- The Inferred Mineral Resource is 2.9 million tonnes at an average grade of 1.75 g/t Au, 29.3 g/t Ag, 0.77% Cu and 1.15% Zn, containing 162,000 ounces Au, 2.7 million ounces Ag, 49 million lbs Cu, and 73 millions lbs Zn.
- The mineral resource estimate is based on 98 diamond drill holes totaling 19,573 meters.
- Approximately 60% of the Inferred Resource is contain within potentially economic open pits.
- The Abu Marawat gold-copper deposit remains open along strike i nthe north and south directions, laterally, and at depth.