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Mineral Explorer 'Getting Closer to the Source of Copper' at Ecuador Project
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Recent drill results from two targets at Aurania Resources' Lost Cities–Cutucu project are reviewed in a Noble Capital Markets report.

In an Aug. 20 research note, Noble Capital Markets analyst Mark Reichman reported new drill results from Aurania Resources Ltd.'s (ARU:TSX.V; AUIAF:OTCQB) Tsenken N1 and Tiria-Shimpia targets at its Lost Cities–Cutucu project.

"The current drilling program appears to be providing management with a clearer view of the system encompassing Tsenken N1 and Tiria-Shimpia, along with its potential," wrote Reichman.

The analyst pointed out that Aurania thinks these two targets are part of the same system over 45 kilometers, in which primarily copper mineralization slowly transitions into mostly zinc mineralization.

At Tsenken N1, Reichman noted, drilling of six holes over 1,859 meters (1,859m) encountered sediment-hosted copper. Hole TSN1-007, now being drilled, already showed this same type of mineralization over 7 kilometers. The hole also indicated the presence salt, a feature typical of these mineralized systems.

"A fault system is thought to have fed copper into the sediments much in the way it did zinc-silver in the Tiria-Shimpia area," Reichman explained.

Regarding Tiria-Shimpia, Reichman relayed, Aurania completed two holes there, SH-001 and SH-002. SH-001 intersected faint silver-zinc mineralization in seven sedimentary layers. SH-002 results are pending. The Canadian explorer is currently drilling SH-003, which so far has reached a depth of 300m.

Reichman highlighted that given all results to date, Lost Cities is showing potential to encompass multiple beds of mineralization, much like the Europe's Kupferschiefer, one of the world's largest sediment-hosted accumulations of copper ores. In sediment-hosted layered copper systems, the mineralization generally comes from sections of oxidized sediments, called red beds, and volcanic rocks, and Aurania's management suspects the overall system present at Los Cities is mostly made up of red bed sediments. This is in part due to the numerous layers of sandstone present there.

Noble has an Outperform rating and a $3.75 per share target price on Aurania. Its stock is trading today at about $1.81 per share.

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 Ltd. 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.
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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. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aurania Resources Ltd., a company mentioned in this article.


Disclosures for Noble Capital Markets, Aurania Resources, August 20, 2021
Company Specific Disclosures
The following disclosures relate to relationships between Noble and the company (the "Company") covered by the Noble Research Division and referred to in this research report.

The Company in this report is a participant in the Company Sponsored Research Program ("CSRP"); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

Noble has arranged non-deal roadshow(s) with investors in the last 12 months. The Company has attended Noble investor conference(s) in the last 12 months.

Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.

Noble is not a market maker in the Company.

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis. Named WSJ 'Best on the Street' Analyst and Forbes/StarMine's "Best Brokerage Analyst." FINRA licenses 7, 24, 63, 87.


Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

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