The Hamama VMS Property

The Hamama Property is located within the Abu Marawat Concession, approximately 105 km from the Abu Marawat project which occurs in a historical gold and copper mining district. This drill ready deposit contains a favourable VMS horizon that has been traced 3,000 m along strike. A historical drill intercept reported 9.7% zinc over 16 m. Chip/channel samples of the gossan indicated up to 9.7 g/t gold, 173 g/t silver, 0.7% copper and 18.5% zinc.

Similar to the neighbouring Abu Marawat Property, the Hamama Property is in close proximity to the Port of Safaga, Qena, and Hurghada International Airport. The property has excellent infrastructure and support including good gravel roads, electricity grid lines; direct railroad access and availability of experienced work force. The Eastern Desert has an excellent geological environment, climate and terrain and allows for year round exploration on the property.

Ownership

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

Geology

A weathered and altered massive sulphide zone has been traced for more than 3.0 km along strike. Over the southwestern half of the length it is an iron-rich gossan up to a few metres thick. To the northeast, it is a carbonate-rich gossan up to 20 m thick.

A zone up to a few hundred metres thick in the footwall of the massive sulphide consists of strongly altered andesite with 3-7% stock work veins of quartz and sulphides (altered to iron oxides). The massive sulphide zone is overturned to the east, and is overlain stratigraphically by well bedded and sedimentary rocks and tuffaceous felsic and intermediate volcanic rocks. Locally these rocks were contorted into tight folds. At the soutweat edge of the concession, the Proterozioic rocks are overlain by a thin covering of flat-lying to gently dipping Nubian sandstone, under which the massive sulphide zone may continue.

Exploration

In a press release dated November 23, 2011, the Company announced the commencement of a drilling program on the Hamama Property. The program consisted of 11 diamond drill holes totaling to 1,185 m.  In a press release dated February 16, 2012 the Company confirmed volcanogenic massive sulphide style mineralization on the property. Significant assays include: 

•  AHA-005 intersected 16.0 metres grading 4.71% Zn, 0.22% Cu, 0.81 g/t Au, 16.2 g/t Ag, 
•  AHA-004 intersected 14.1 metres grading 6.51% Zn, 0.20 % Cu, 0.81 g/t Au, and 42.5g/t Ag
•  AHA-003 intersected 50 metres of stringer zone material grading 0.69% Zn, 0.05% Cu, 0.01 g/t Au, and 1.5 g/t Ag

To view the full press release please visit our news section and release dated February 16, 2012.

A surface trench program was completed. The following results were announced: 

• A new discovery - the Western VMS Zone - is 650 m along strike and averaging 60 metres wide contains relatively uniform mineralization averaging 1.15 g/t gold and 19.4 g/t silver
• Trench 9 returned 82 metres grading 1.73 g/t gold and 39.2 g/t silver, including 50 metres grading 2.35 g/t gold and 48.1 g/t silver
• Trench 11 returned 88 metres grading 1.82 g/t gold and 31.5 g/t silver, including 74 metres grading 2.09 g/t gold and 29.4 g/t silver.

To view the full press release please visit our news section and release dated March 26, 2012.