Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) has reported that the first drill hole at the Tsenken N1 target intersected sediment-hosted copper at its Lost Cities-Cutucu Project in southeastern Ecuador.
The company said the first drill hole at Tsenken N1 (TSN1-001) reached a depth of 722 meters (m) and native copper was intersected within 2m of the maximum depth that the small-format drill could reach. A second drill hole on the target is now underway.
The mineralization is immediately beneath a 75m thick lava layer that constitutes an impermeable barrier within the permeable sedimentary strata. Though the intersection was modest with grades below economic levels, Aurania said the occurrence of native copper beneath the impermeable layer within the red beds is a key piece of evidence supporting the exploration model the company is using for sediment-hosted mineralization.
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The company said the next step is to drill through the impermeable layer near the crest of a fold where the model predicts that more robust mineralization should be located. The second scout drill hole at Tsenken N1 is aimed at just such a target.
"We believe that through a modest intercept, that we have cracked one of the key elements to sediment-hosted copper in the Tsenken target area, and we look forward to completing the second drill hole that is currently underway,” said CEO Dr Keith Barron in a statement.
“The drill had reached its maximum depth just as it entered the MobileMT conductor at the first hole. The native copper intersected is extremely conductive - it's effectively like intersecting electrical wire mesh in the drill hole. Our exploration model for sediment-hosted copper mineralization combines oil geology with controls on the formation of mineral deposits to define the location of target areas for drilling."
Rationale for Drill Hole 2
Aurania said the first drill hole at Tsenken N1 intersected the lava seal near the bottom of a fold, well away from the crest where oil and gas are likely to have accumulated. And the elemental copper intersected is the footprint of a copper-bearing fluid that flowed through the permeable red-beds until it was trapped beneath the impermeable lava layer.
The company added that Hole TSN1-002 is aimed to drill through the lava seal higher in the arch-shaped fold where there should have been more gas and oil, providing a larger trap site for the copper-bearing brine to have interacted with the hydrocarbon, potentially precipitating copper sulphide mineralization. The hole is planned to be drilled to a depth of about 450m with the lightweight rig.
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