Aurania Resources Ltd (TSX-V:ARU, OTCQB:AUIAF) reported that drilling has intersected sediment-hosted copper mineralization visible over about two metres at the Tsenken N1 target in its Lost Cities-Cutucu project in southeastern Ecuador.
The company said it also intersected salt, a key element of sediment-hosted copper mineralized systems. Scout drilling continues for sediment-hosted copper at Tsenken N1 and for silver-zinc at the Tiria-Shimpia target area.
"We recognized early on that the copper-silver within the project is of Kupferschiefer style, and this was confirmed by Professor Gregor Borg, an international expert on the subject,” chairman and CEO Keith Barron said in a statement.
“Essentially, what we have are multiple levels of sandstone with organic plant material, which is now carbon in the Jurassic-aged Chapiza Formation,” he added.
READ: Aurania Resources says drill results prove Tsenken zone is connected to Tiria-Shimpia target
Aurania said the geological formation consists mostly of "red bed" sediments and is analogous to the Rotliegendes found beneath the Kupferschiefer in Poland and Germany. The carbon in the Chapiza has acted as a chemical reductant, causing the dissolved copper to fall out of solution where oxidized, copper-charged groundwaters come in contact with the carbon.
“At this point, we still do not know the grade and thickness of these copper and silver mineralized carbon beds, nor how many individual stacked beds occur on our concessions,” Barron said.
“We do know through mapping that we are dealing with multiple beds.”
South America-focused 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. 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.
Contact the author at stephen.gunnion@proactiveinvestors.com