Alexander Nubia International (AAN.V) has announced more exploration results from its Hamama VMS project in Egypt. As part of an expansion exploration program, Alexander has drilled some deep step out holes to the west of the currently known mineralized envelope.
One of the holes was a real success, returning in excess of 21 meters of more than 2.5 g/t gold and almost 20 ounces of silver per tonne of rock for a gold-equivalent grade of more than 10g/t within almost 90 meters of 1.11g/t gold and almost 4 ounces of silver per tonne of rock. Additionally, the most recent results of the drill program focusing on the gold-oxide cap at Hamama continue to reveal strong results as well, so the project is really getting stronger with every hole being drilled.
That’s a great result and once again emphasizes the importance of the Hamama VMS project. Unfortunately the company still has to deal with the ‘Egypt-discount’, because if this project would have been located in any other country, Alexander Nubia’s share price would be much higher.
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Disclosure: The author holds no position in Alexander Nubia. Please see our disclaimer for current positions.
