Aurania Resources Ltd (TSX-V:ARU, OTCQB:AUIAF) has announced that drilling in hole SH-004 successfully intersected the targeted silver-zinc mineralized layer at the Tiria-Shimpia target on its Lost Cities-Cutucu project in Ecuador and assay results are pending.
The company also said progress is being made with exploration for sediment-hosted copper at the Tsenken target at Lost Cities-Cutucu, with copper having been intersected in several sedimentary layers and targets were refined during a week-long site visit by Professor Gregor Borg, a specialist in sediment-hosted copper, zinc and lead.
Aurania noted that Borg has just completed his third visit to site where he reviewed field data, exploration results and drill core from both the Tsenken and Tiria-Shimpia targets to verify and provide feedback on the company's current exploration models.
READ: Aurania Resources gets set to drill promising new area of silver-zinc mineralization at the Tiria-Shimpia target in Ecuador
It added that Borg’s visit confirmed features in the core that derive from salt layers being dissolved, leaving breccias cavities that subsequently collapse, which the company says represents good drill targets.
In addition, Aurania said final results have been received for drill hole TSN1-007 at the Tsenken target, which confirms continuity of mineralization from surface to depth.
The company noted the grade of a mineralized sedimentary layer that lies adjacent to an evaporite-related unit at surface was 1.9% copper and 3 grams per tonne (g/t) silver and the same layer, intersected at 157 metres (m) down-hole, contains 0.5% copper over an interval of 1.7m.
In addition, Aurania has announced that its CEO Keith Barron and president Richard Spencer will be hosting a webcasted exploration update conference call on Friday, November 26, 2021, at 11:00 AM EST to discuss recent developments. Investors can view the webcast here.
Participants can also phone toll free at 1-800-319-4610 in Canada and the US and 0808-101-2791 in the UK and Europe.
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