Aurania Resources Ltd. (OTCQB:AUIAF)

Aurania Resources Ltd. (OTCQB:AUIAF)

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Aurania is a Toronto-based mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on gold, silver and copper. Its flagship asset, The Lost Cities – Cutucu Project is located in the eastern foothills of the Andes mountain range of southeastern Ecuador. Aurania’s goal is to discover large, economic, gold-silver and copper deposits in this previously unexplored, but highly prospective area of Ecuador.

Aurania’s story brings together 12 years of historical archival research with modern geological, geochemical and geophysical exploration techniques in a highly favourable area that is along geological trend of major gold and copper deposits in southeastern Ecuador. Numerous historic documents refer to the production of gold from mines in areas that management believes are on Aurania’s concessions: Logroño de los Caballeros and Sevilla de Oro. A map from 1584, shows the location of these two “lost cities” relative to readily identifiable landmarks - the Upano River and the Cutucu Mountain range - which forms the core of Aurania’s project area.

Aurania’s exploration concession block is in the Cordillera de Cutucu that lies along trend of the mineral belt in which Ecuador’s two modern mines - Fruta del Norte (“epithermal” deposit), an underground gold-silver mine that opened on November 14, 2019; and Mirador (“porphyry” deposit), an open-pit copper mine that was opened on July 19, 2019.

Aurania’s management was involved in the grassroots discovery of both the Fruta del Norte and Mirador deposits and is applying the same exploration techniques that were used in those discoveries to Aurania’s Project area - an area that has never been explored with modern techniques. These techniques include covering the whole concession area with an airborne geophysics survey and undertaking systematic stream sediment sampling (50% of entire concession area completed).

The integration of exploration data has identified 20 “epithermal” targets for gold-silver of which the first target was scout drilled in 2019 and has been interpreted to have cut the upper part of a mineralized system. Scout drilling is currently underway on another epithermal gold-silver target and will continue throughout 2020.

“Sediment-hosted,” high-grade copper-silver has been discovered in exposures of sandstone and shale over a total distance of 23 kilometres (14 miles) within the Project area. The continuity of the copper-silver is being confirmed, and shallow drilling may follow using a light-weight, man-portable rig.

Geophysical data from our exploration has also highlighted many tens of features that are interpreted to be porphyries – the type of granitic “plug” that contains much of Chile and Peru’s copper. Aurania has also discovered “Manto”-type silver-zinc-lead in limestone layers along a 15km (9 mile) trend.

Project Highlights

Management team has exceptional track record of world-class discoveries in Ecuador:
- CEO Keith Barron and team discovered the Fruta del Norte epithermal gold-silver deposit
- President Richard Spencer led teams responsible for discovery of the Mirador, San Carlos and Panantza porphyry copper and Loma Larga epithermal gold deposits

Large, contiguous property (2,080 km2) is 100%-owned, unexplored and along the same major geological trend that hosts multiple gold and copper deposits in southeastern Ecuador

Multiple targets identified and being readied for drilling:

20 targets for epithermal gold-silver;
A 23km trend containing copper-silver showings in sandstone & shale layers;
A 15km trend containing silver-zinc-lead showings in limestone layers;
Many tens of geophysical features interpreted to be porphyry copper targets;
Bayesian analysis of big data by Metron Inc. is augmenting the search for the gold mines of the “lost cities” of Logrono and Sevilla.

Exceptional community relations (“CR”) program focused on building strong relationships with local communities

Ecuadorian Government highlighting the role of responsible mining as a driver for economic growth; committed to resource investment.

Aurania Resources Ltd.. is a publicly traded company listed on the OTCQB under the ticker symbol AUIAF. This is not investment advice. Please view the disclaimer found on this website.
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  • Founded Year 2007

  • Employee Size 11 - 50

  • Address 36 Toronto Street Suite 1050 Toronto, ONT M5C 2C5 Canada