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Aurania Resources Ltd
Symbol ARU
Shares Issued 36,617,113
Close 2020-02-13 C$ 3.36
Recent Sedar Documents

Aurania finds copper enrichment in soil at Tsenken N3

2020-02-13 09:18 ET - News Release

Ms. Carolyn Muir reports

COPPER ENRICHMENT IN SOIL ENHANCES AURANIA'S TSENKEN N3 AS A PORPHYRY COPPER TARGET

Aurania Resources Ltd.'s follow-up exploration has encountered copper enrichment in soils over the Tsenken N3 geophysical target. These results are consistent with the Tsenken N3 being a porphyry copper target like Tsenken N2 located only one kilometre to the southwest. Both targets lie in the central part of the Lost Cities -- Cutucu project in southeastern Ecuador.

Independent senior geophysical consultant Jeremy S. Brett, who was involved throughout the heliborne geophysical survey that the company commissioned in 2017, identified 64 individual targets, 31 of which were categorized as high priority for follow-up. Mr. Brett commented: "The reaction to a geophysicist selecting targets from geophysical data is often, 'These guys see targets wherever there's a red blob on a map and they can't be taken all that seriously.' Well, I'm delighted to counter this perception with the field checking and soil sampling that is under way over the Tsenken N2 and N3 targets, which were included in the group of 31 targets prioritized for follow-up. Now, I eagerly await the results of soil sampling over the next target to the north, Tsenken N4. The enrichment of copper in soil over the Tsenken N2 and N3 magnetic features suggests that they truly do represent high-priority porphyry copper targets. They strengthen the case for taking the top-priority geophysical targets seriously as porphyry copper-gold and porphyry copper targets."

Next steps

Soil sampling crews are extending the sampling over the remainder of the magnetic feature at Tsenken N3 while geological mapping is under way on the area. Due to the limited outcrop, the most efficient way of evaluating the copper potential of the Tsenken N2 and N3 targets is through shallow drilling with an ultralightweight rig that has the capacity to reach a maximum depth of 200 metres. Drilling is dependent on the receipt of a water-use permit. Applications have been submitted for a total of 39 water-use permits across the project area and this permitting is in process.

Update on drilling at Yawi

Bore hole YW007 has been completed to a final depth of 504 m.

Qualified persons

The technical information pertaining to geophysical data and related interpretations in this news release has been verified and approved by Mr. Brett, MSc, PGeo, an independent senior geophysical consultant with MPH Consulting Ltd. Mr. Brett is a professional geoscientist registered in Ontario and is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

All other technical 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 is 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 junior mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. 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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