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Explorer Plans More Drilling For 2021: Epithermal Gold Targets in Lineup
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Various targets "continue to emerge in the southwestern portion of Aurania Resources' Lost Cities–Cutucu project," a Noble Capital Markets report noted.

In a Sept. 7 research note, Noble Capital Markets analyst Mark Reichman provided an update on current and imminent 2021 drilling at Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) Lost Cities–Cutucu project in Ecuador.

"Aurania's exploration program is providing an abundance of drilling targets for a variety of metals and the potential to make multiple discoveries in its large concession package," wrote Reichman.

The analyst noted that Aurania is now drilling the seventh hole of a 10-hole program planned for the Tsenken N1 sediment-hosted copper-silver target; hole TSN1-007 is in progress.

As for the explorer's Tiria-Shimpia target, Aurania completed three holes there but is awaiting results of the third. It is expected to show what the first two holes did, which is multiple mineralized layers but lower-than-expected grades. The company is moving the drill rig to a different spot within Tiria-Shimpia, and once it is there, Aurania will start drilling, most likely sometime this month, September.

Later this year, Reichman wrote, Aurania will commence drilling the epithermal gold-silver systems at Lost Cities, including Latorre C, "while management prioritizes various targets that continue to emerge in the southwestern portion of the project area."

One of Aurania's high-priority drill targets is Tatasham, though drilling it will require building another drill camp. About 3 kilometers in diameter, Tatasham is the largest magnetic feature seen via the geophysical survey done in 2017.

"Management believes the cylindrical core is a [copper] porphyry and the adjacent conductive area is sulphide-rich," wrote Reichman.

Noble Capital has an Outperform rating and a $3.50 per share target price on Aurania, the shares of which are trading at about $1.98 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. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Aurania Resources Ltd. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

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Disclosures for Noble Capital Markets, Aurania Resources, Sept. 7, 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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