Operating in Egypt since 2007, the Company is focused on the advancement of the Hamama VMS deposit - located in the Arabian-Nubian Shield (ANS), which is known for the quality of its VMS deposits. Hamama is similar to other well-known VMS deposits in the Arabian-Nubian shield, Hassai VMS (La Mancha), Bisha VMS (Nevsun) and Jabal Sayid VMS (Barrick Gold), which have a gold cap within the oxidized zone that grades into a zone of base-metal-rich, semi-massive to massive sulphide at depth.
First-stage drill results intersected high-grade semi-massive mineralization and a broad zone of disseminated gold-silver mineralization in the footwall and confirm a gold cap in the Western VMS Zone. Trenching confirm a broad zone of VMS gossan at-surface containing high-grade gold and silver, and an extensive mineralized footwall stringer and breccia zone.
These high quality assets are enhanced by a highly prospective land package with an established history of mining dating back to the Pharaonic era; it contains three historical gold mines and six prospects, the land package has excellent and nearby infrastructure which includes access to highway and railway, a high‐capacity electricity grid, and nearby major cities: Qena, on the Nile River, and Port of Safaga, on the Red Sea.