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Explorer Gaining Momentum in Push for New Discoveries at Ecuador Property
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Critical and precious metals explorer Aurania Resources Ltd. is methodically moving forward with is exploration program at its Lost Cities-Cutucu Project which has been shown to host significant amounts of zinc, copper, silver and other elements. Noble Capital Markets advised that the firm plans to begin exploration work at its Awacha target site in mid-December and is building momentum as it moves into 2022.

In a December 9 research note, Senior Natural Resources Research Analyst Mark Reichman of Noble Capital Markets Inc. stated that junior precious and critical metals explorer Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) may be on a steady course to a new discovery at its Lost Cities-Cutucu Project in southeastern Ecuador.

Reichman noted that some follow-up work drill work may be necessary at the company's Tiria-Shimpia silver-zinc site. It was here at drill Hole SH-004, where starting from a depth of 52.0m, the company encountered a 2m high-grade intercept of 12.4% Zn, 5.4 g/t Ag, 61 g/t Ga and 9 g/t In.

The analyst commented that Aurania Resources' management team may consider drilling deeper beyond the layers of weathered sulphide mineralization with the goal of finding higher grade zinc-silver shoots at depth as the highly prospective interval it discovered is surrounded by an 8.5-meter halo of 3% zinc.

The report advised that Aurania has begun drilling in Hole TSN1-009 at the Tsenken target. The firm has reached a drill depth of 350m and plans to extend that to around 500m when completed. The company's primary objective is to search for copper-silver mineralization that lies within evaporite mineral beds within sedimentary layers. Based upon their findings so far, the firm's management believes that there appears to be excellent potential for copper sulphide mineralization.

The report from Noble Capital Markets mentioned that Aurania is now preparing to move forward with exploration work at the Awacha target site starting in mid-December. The company has executed an agreement with the local indigenous communities and its initial focus will be to refine porphyry targets. The field work will begin with grid mapping and soil sampling in the areas where elevated levels of metal material has been detected.

Nobel Capital indicated that Aurania's exploration efforts are progressing well at Tiria-Shimpia and Tsenken N1. Nobel stated that positive assay results from Hole TSN1-009 would be very useful in filling in the picture at Tsenken N1. The analyst commented, "We expect greater momentum moving into 2022 as Aurania's exploration activities are affirmed with positive drill results and discoveries and progress at new targets."

Aurania Resources Ltd. is a Toronto, Ont.-based junior exploration firm that focuses on acquiring, exploring and developing precious metals and copper properties. The company's "flagship" asset is The Lost Cities-Cutucu Project in Ecuador. The project includes 42 mineral exploration concessions over an area of about 208,000 ha (~2,080 sq. km).

Noble Capital Markets Inc. advised that it is maintaining an "Outperform" rating for Aurania Resources Ltd. with a price target of US$2.35 per share. The firm's shares trade on the OTCQB Venture Market under the symbol "AUIAF" and last closed for trading at US$0.80 per share on Tuesday, December 14, 2021.

In addition, the firm's shares trade under the symbol "ARU" on the TSX Venture Exchange and "20Q" on the Frankfurt Exchange.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his 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. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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IMPORTANT DISCLOSURES for Noble Capital Markets, Inc., Aurania Resources Ltd., Dec. 9, 2021
Noble Capital Markets, Inc. ("Noble") seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst's judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.

The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

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.


CONTINUING COVERAGE: Unless otherwise noted through the dropping of coverage or change in analyst, Mark Reichman, Senior Natural Resources Analyst, the analyst who wrote this research report will provide continuing coverage on this company through the publishing of research available through Noble Capital Market's distribution lists, website, third party distribution partners, and through Noble’s affiliated website,

WARNING: This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc..

RESEARCH ANALYST CERTIFICATION — 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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