In a news release, Toronto-based minerals explorer Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) reported that during the course of conducting a MobileMT (MMT) geophysical survey at its Lost Cities Cutucu Project in southeastern Ecuador, it discovered and identified an extensive new target area situated on the edge of the very large Tsenken Central magnetic feature.
The company noted that the new Tsenken West target area extends 3.5 km westward from Tsenken N1. The firm stated that it is now making final preparations to commence drilling at both Tsenken N1 and Tsenken West.
The company's Chairman and CEO Dr. Keith Barron stated, "The MMT data is providing us with a three-dimensional image of the Tsenken target area in which we are able to see the sedimentary layering through differences in the electrical conductivity of the various strata. The new Tsenken West target is large and strong, and lies right on the edge of the massive Tsenken Central magnetic feature. We assume that the conductive zone is an area of electrically conductive sulphides perhaps in some way linked to the adjacent magnetic center."
The company discussed that the MMT data gathered from the Tsenken West Target revealed a conductive anomaly area measuring approximately 3.5 km by 2.0 km. The firm stated that the anomaly might perhaps be formed by an accumulation of sulphides related with mineralization or clay minerals such as epithermal gold-silver, iron oxide copper-gold or porphyry copper. The company pointed out that "the proximity of copper-silver in sediment outcrops to the periphery of this anomaly may perhaps indicate a copper concentration at depth."
The firm advised that the MMT geophysical survey is being performed jointly by two Toronto-based firms, MPX Geophysics Ltd. and Expert Geophysics Ltd. The company indicated that the Heliborne MMT is presently being flown in the northern part of Tiria-Shimpia.
The firm stated it is finishing up the integration of MMT geophysical data with scout drilling results and field work undertaken recently in the Yawi target area and now intends to extend the MMT to fully cover a newly identified area of interest there. Aurania stated that it also expects to prepare for scout drilling at the first targets contained within the Tiria-Shimpia silver-zinc-lead system. The company indicated that it will continue with its reconnaissance exploration work and explained that the priority areas of focus may shift somewhat based upon new additional MMT survey findings.
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