Aurania Resources Ltd (TSX-V:ARU, OTCQB:AUIAF) said it had identified a new epithermal gold-silver target on its Lost Cities-Cutucu project in Ecuador.
The target covers an area of more than 0.67 square kilometres, according to Aurania, and is near the previously identified Kuri-Yawi target on the property.
Soil sampling has returned gold values of up to 0.56 grams per ton (g/t), the company said in a statement.
READ: Aurania intersects sediment-hosted copper mineralization at Tsenken N1 target in Lost Cities-Cutucu project
Aurania’s team pinpointed the new target while its other teams are in the midst of drilling programs in the Tsenken and Tiria-Shimpia areas, CEO Keith Barron told shareholders.
“The enrichment of gold in soil is up to 0.56 g/t, which is of considerable significance in soil,” Barron said in a statement.
“The target therefore is epithermal gold below the sinter - which would have been a Yellowstone-like silica platform around geyser systems at the time of gold deposition approximately 170 million years ago. We believe that this Latorre C target forms part of the same epithermal system as Kuri-Yawi where other relicts of sinter terraces have been found."
Lost Cities-Cutucu is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
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