Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: ARU; AUIAF

Explorer to Begin Geophysical Survey of Ecuador Property This Week
News Update

Share on Stocktwits

Source:

Aurania Resources aims to identify the sulphide-bearing core of iron oxide copper-gold targets at Lost Cities–Cutucu.

Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) announced in a news release that a mobile magnetotelluric (MT) geophysical survey is scheduled to commence this week at its Lost Cities–Cutucu project in Ecuador and continue into next year.

"The Mobile MT survey should complement the scout drilling undertaken to date," Chairman and CEO Dr. Keith Barron said in the release.

The survey will cover numerous targets, including N2, N3, N4 and N5, which comprise the Tsenken North iron oxide copper-gold system; Tsenken Central's magnetic feature, the copper-silver mineralized Tsenken N1 breccia target; Yawi; Kirus; Awacha; Sunka; and Tatasham–Tiria–Shimpia.

The aim is to identify electrically conductive areas related to sulphides in the target area in addition to electrically resistive zones related to silica associated with epithermal systems."Results from the survey are expected to make a fundamental contribution to the exploration for the sulphide-bearing core of IOCG targets, as well as complementing magnetic data in refining porphyry copper and epithermal gold-silver and silver-zinc-lead targets," the company stated.

The MT survey comes at the near conclusion of drilling of six bore holes in Tsenken N2. The first three, TS-001 to TS-003, did not return any mineralization.

"Our exploration model developed from the drilling at Tsenken North had holes TS-001 to 003 located outside of the mineralized zone, so the assay results received come as no surprise," Dr. Barron said.

Results from the fourth and fifth holes, TS-004 and TS-005, drilled closer to what is believed to be the core, are pending.

Drilling of the sixth hole, TS-006, is in progress; it has reached 250 meters of a targeted 500 meter depth.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Aurania Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.





Want to read more about Gold and Base Metals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe