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Aurania Resources Ltd.
Summary
| Project: | Lost Cities - Cutucu | |
|---|---|---|
| Deposit: | Lost Cities - Cutucu | |
| Location: | Ecuador | |
| Commodities: | Silver-Silver | |
| Date: | 1/30/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-1-2020: Aurania Resources Ltd. announces an Exploration/Drilling Update report for its Lost Cities - Cutucu deposit at the Lost Cities - Cutucu project. No significant gold-silver values received from recent drilling. Toronto, Ontario, January 30, 20 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jean-Paul Pallier (Not stated) | |
| ABSTRACT: | Toronto, Ontario, January 30, 2020 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to provide an interim report on its scout drilling at its Yawi target in its Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador. Six drill holes have been completed on Targets A, B and C on the Yawi epithermal gold-silver target area. Assay results have been received for the first four holes; no significant gold-silver mineralization was intersected. However, alteration mineral and pathfinder element vectors are being used to refine the target as drilling continues at Yawi (see Figure 1). In addition, findings at Yawi have refined Aurania’s understanding of its Crunchy Hill target and a target concept has been better defined in the area of the last hole drilled there. Aurania’s Chairman and CEO, Dr. Keith Barron commented, “The first drill holes at Yawi have provided us with a clear picture of the nature of the epithermal target and we are using vectors evident in the drill core to direct our exploration towards the more prospective parts of the epithermal system. The maardiatreme environment we have discovered in core is a well-known environment for epithermal mineralization. We are focusing on the margins of the column-shaped diatreme pipes identified in the early drilling because these so-called ring fractures are often mineralized. We also have built enough confidence and knowledge of the subsurface geology to now employ focused geophysics to more accurately direct our drilling. Aurania is looking into using Controlled-source Audio-frequency Magnetotellurics (CSAMT) that has been used so successfully by Irving Resources to refine their epithermal targets in Japan.” | |
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