Aurania Resources Ltd (TSX-V:ARU, OTCQB:AUIAF) has reported that the third hole drilled on the 22 kilometer (km)-long Tiria-Shimpia silver-zinc target at the company's Lost Cities-Cutucu project area in Ecuador has intersected the extension of the mineralized layer that was seen at surface.
Aurania said hole SH-003 intersected five meters (m) at a grade of 10.5 grams per tonne (g/t) silver and 2.5% zinc within a 31.5m thick halo of mineralization in layered sedimentary rock.
“We've finally hit significant mineralization in drill hole 3 at our Tiria-Shimpia target in the Lost Cities Project,” Aurania Resources CEO Keith Barron said in a statement.
READ: Aurania Resources to raise capital to advance its Lost Cities - Cutucu Project in Ecuador
“We have intersected the extension of mineralization exposed at surface as planned, and now we need to home in on the higher-grade parts of the system within the 22km long trend defined by metal enrichment in soil,” Barron added.
The company noted that hole SH-003 was drilled about 2km to the north of where holes SH-001 and SH-002 were drilled.
It added that a total of 1,018m has been drilled in the three holes completed at Tiria-Shimpia.
Aurania also announced that drilling at hole 7 (TSN1-007) at the company's Tsenken N1 sediment-hosted copper-silver target has been completed with results pending.
Drilling at Hole 8 at Tsenken N1 has also been started.
Aurania’s flagship asset, the Lost Cities - Cutucu project, sits in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Contact Sean at sean@proactiveinvestors.com