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Aurania Resources Ltd
Symbol ARU
Shares Issued 40,486,673
Close 2020-07-29 C$ 3.73
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Aurania identifies Cu-Ag drill targets at Lost Cities

2020-07-30 11:09 ET - News Release

Dr. Keith Barron reports

AURANIA CONFIRMS EXTENSIVE, HIGH-GRADE COPPER-SILVER AT 'TSENKEN B' TARGET IN ECUADOR

Aurania Resources Ltd. has provided an update on extensive sedimentary-hosted, high-grade copper-silver in the Tsenken B target area at its Lost Cities-Cutucu project in southeastern Ecuador. A summary of targets in the Tsenken area and next steps is provided in an attached table.

Dr. Keith Barron, chairman and chief executive officer of Aurania, commented: "We are very encouraged to see the copper-silver in the Tsenken area resolving into specific targets that we aim to drill test as soon as possible. The light-weight drill rig, that has a maximum reach of 800 metres (2,600 feet) is in country and will be deployed to site in the coming weeks to start the drill program on Tsenken N2 and N3, before proceeding to the other priority targets."

The results reported extend from the intensely mineralized fault breccia at Tsenken A northwards over 6 kilometres. The copper-silver is hosted by sedimentary layers that contain fossilized, carbonized plant fragments within an enclosing stack of red-coloured sandstone or red beds. Copper minerals include malachite, chrysocolla, tenorite and chalcocite. Samples from sporadic outcrops that stick up through the jungle floor are distinguished from boulders found in streams and on hillsides.

Sample Analysis and Quality Assurance/Quality Control

Laboratories

The rock samples were prepared for analysis at MS Analytical (MSA) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation

The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres ("mm")), from which a one-kilogram sub-sample was taken. The sub-sample was crushed to a grain size of 0.075mm and a 200 gram ("g") split was set aside for analysis.

Analytical procedure

Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the over-limit samples, those that had a grade of greater than 1% copper and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

Quality assurance/quality control

Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania's analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits. In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The 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

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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