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Aurania Resources Ltd
Symbol ARU
Shares Issued 46,868,398
Close 2021-09-13 C$ 2.41
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Aurania Resources talks Tatasham geophysical modelling

2021-09-13 10:29 ET - News Release

Dr. Keith Barron reports

AURANIA REFINES TATASHAM TARGET IN PREPARATION FOR DRILLING

Aurania Resources Ltd. has provided an update on geophysical modelling, which has refined the shape of the Tatasham target, a feature that has characteristics of a porphyry, a deposit type that contains over half of the world's copper resources. Tatasham is located near the western margin of the company's Lost Cities/Cutucu project area in southeastern Ecuador.

Aurania's chairman and chief executive officer, Dr. Keith Barron, commented: "Tatasham is the largest geophysical feature identified in the airborne magnetic survey that we carried out over the whole concession area in 2017. We subsequently covered the target area in the MobileMT survey completed earlier this year. We believe that our geophysical inversion contractors have made a breakthrough in the inversion of MobileMT geophysical data acquired in mountainous areas like the project area. The 3-D inverted MobileMT and magnetic data define a magnetic core that is approximately three kilometres in diameter that could be the central part of a porphyry which is partially enclosed by a conductive zone that could be due to the presence of sulphides -- which is where most of the mineralization is located in copper porphyries. Now that the target shape has been refined by remodelling of the geophysical data, we're doing some final field checking and are preparing to drill Tatasham this year in Q4."

An early description of the Tatasham target can be found in a video (starting at minute mark 1:10) on the company's website entitled "Metron Probability Update Part III -- Making Sense of our Magnetic Data."

Tatasham target

The core of the Tatasham target is a magnetic cylinder three kilometres to four kilometres in diameter that is partially enclosed by a conductive zone derived from a totally different data set -- MobileMT. This geophysical model is consistent with a magnetic porphyry at the centre with an adjacent sulphide-bearing conductive zone -- where mineralization is typically located.

Drilling is planned for Q4 2021. Details of the drilling, in terms of metreage and number of planned holes, will be announced in due course.

Details of the geophysical modelling

Original processing of magnetic data from the 2017 geophysical survey showed the Tatasham magnetic feature (negative reduction to the pole) having a diameter of over 10 kilometres -- the largest in the project area. Refined processing of the magnetic data by three-dimensional magnetic vector inversion has resulted in a better-defined, smaller magnetic feature that is three kilometres to four kilometres in diameter. In addition, three-dimensional inversion of MobileMT data has refined the location of conductive areas that are consistent with geological data.

Modelling of the magnetic and MobileMT data was carried out by Geotexera Inc. of St. John's, Nfld., Canada.

Qualified person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators.

About Aurania Resources Ltd.

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, the Lost Cities/Cutucu project, is located in the Jurassic metallogenic belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

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