Alexander Nubia International Inc. (TSX: V.AAN, Stock Forum) said deep trenching is ongoing at its Hamama volcanogenic massive sulphide (VMS) deposit in Egypt.
The Hamama VMS deposit, located in the Eastern Desert within the Abu Marawat Concession, is comprised of a principal mineralized unit, the Main VMS Horizon, a steeply dipping, overturned iron-rich gossan and ankerite-rich exhalite is traceable on surface for 3,000 metres along strike.
According to theAlexander Nubia International press release, in tandem with a diamond-drilling program, a program of trenching was carried out to identify additional drill targets.
Highlights from the new deep trench results include 30 metres grading 2.20 grams per tonne gold and 51.3 grams per tonne silver and 50 metres grading 3.09 grams per tonne gold and 55.0 grams per tonne silver.
Alexander Nubia is an established Canadian mineral exploration company committed to identifying, focusing on, and advancing gold and base-metal projects in the Eastern Desert of Egypt.
On Thursday, Alexander Nubia’s stock rose 25% and was trading at $0.05 a share. The company has a market cap of $5.72 million, based on 114.3 million shares outstanding. The 52-week high and low was $0.105 and $0.035 respectively.