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Aurania Resources Ltd.
Summary
| Project: | Cutucu | |
|---|---|---|
| Deposit: | Cutucu | |
| Location: | Ecuador | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 5/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-5-2017: Aurania Resources Ltd. announces a Supporting Acquisition report for its Cutucu deposit at the Cutucu project. Summary of property in support of acquisition. Ecuasolidus S.A. (“ESA”) is an Ecuador-based private mineral exploration company, incor | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Karl John Roa (Independent) | |
| ABSTRACT: | Ecuasolidus S.A. (“ESA”) is an Ecuador-based private mineral exploration company, incorporated in Quito on March 16th 2015 and majority-owned by Dr. Keith Barron. ESA is focused on grassroots mineral exploration activities in Ecuador. In March 2016 the Company applied for 42 mineral exploration concessions following an eight-year freeze on the issuance of exploration licenses in Ecuador. Exclusive exploration licenses were granted on December 27th and 28th, 2016 for the 42 tenements that comprise the “Property”, herein named the “Lost Cities – Cutucu Project” or the “Project”. The exploration concessions were registered between February 9th and 16th, 2017. On March 2nd, 2017, ESA announced that it had entered into a definitive purchase and sale agreement with Aurania Resources Limited (“Aurania”), under which Aurania will acquire ESA. The terms of the acquisition are subject to approval by the TSX Venture Exchange, among other conditions such as raising sufficient funds for the recommended exploration program. At the request of Aurania, Karl John Roa, EurGeol (“the Author”), carried out an independent review and preliminary field investigation of the Property in November 2015. The area of mineral concessions that constitute the Property total 207,764Ha or 2,077.64km2 and cover the core of the Cordillera de Cutucú. This isolated mountain range forms the foothills of the main Andes mountain chain, located between 2° and 3° south of the equator in southeastern Ecuador. With extreme topography, rising from a few hundred metres above mean sea level (“amsl”) in the Amazon basin, and peaking at 2,460m, the Cordillera de Cutucú is sparsely inhabited and difficult to access. Modern mineral exploration techniques, to the Author’s knowledge, have not been applied in the Project area due to prior restrictions on mineral exploration in the Cordillera de Cutucú. However, recent amendments to the mining law in Ecuador have opened the area to exploration for the first time in decades. | |
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