Many experts assume that the price of precious metals will continue to rise. That is why mining stocks should not be missing in a diversified portfolio. After all, it’s about improving the portfolio’s return. If investments in government bonds or cash promise no or even a negative return, then it is time for precious metals and mines.
The copper price has also recovered significantly since March and is even higher today than it was a year ago. There seems to be signs of economic optimism here. When looking at the purchasing managers’ indices for the manufacturing sector in July in China, the USA and Europe, the numbers are also good, despite the corona pandemic.
Aurania Resources is continuing to develop the ‘Tsenken’ and ‘Kirus Project’ at an incredible pace
There are the past top successes of the soil samples on ‘Tsenken N1’ and ‘Tsenken A’ of the Ecuador-based ‘Lost Cities Cutucu’ project of the Canadian gold explorer Aurania Resources Ltd. (ISIN: BMG069741020 / TSX-V: ARU) has not yet faded, the company is already presenting the next mega-successes, this time, however, from ‘Tsenken B’ and ‘Kirus’.
The soil samples collected from formation eruptions on the surface and pieces of rock from the sediment layer in the area have also produced astonishing values on ‘Tsenken B’.
Source: Aurania Resources
As the black-framed samples from ‘Tsenken B’ show, they could be found in large parts of the area 8.6% copper not only find noticeably high copper contents, but with 126 g / t silver even an extreme concentration of silver mineralization.
When such fantastic deposits are found on the surface, it becomes extremely exciting when the underlying layers are explored with drilling. But ‘Tsenken B’ was not the only exploration target, because soil samples were also collected on ‘Kirus’. Kirus is not only about 6 km south of ‘Tsenken’, but, and this turned out to be the case with the analysis of the soil samples, has a geological structure similar to ‘Tsenken’!
Source: Aurania Resources
On ‘Kirus’ there are also rock formations (‘Outcrops’) with excellent copper and silver content that reach to the surface. Excellent mineralization can also be found in the rocks of the surrounding sedimentary layers. It is therefore not surprising that the samples also showed great levels on ‘Kirus’. Up to 11.9% copper and 166 g / t silver are mighty gradeswhich show that ‘Kirus’ is in no way inferior to the ‘Tsenken’ area in terms of quality. The previously known mineralized area has already doubled through the soil samples alone! And there is further, enormous potential slumbering beneath the surface.
So it is hardly surprising that board member Dr. Keith Barron is not only pleased about the successes achieved so far on these two sub-targets, but has also included ‘Tsenken B’ and ‘Kirus’ in the upcoming drill program. The drilling program is started on ‘Tsenken N2’ and ‘Tsenken N3′. After that it is’ Tsenken A ‘, Tsenken B’ and ‘Kirus’. The lightweight drilling rig, which can penetrate to a depth of 800 m at low cost, has already reached the first drilling target. As a result, the first well will begin very soon. In the meantime, further work will be started on ‘Kirus’ so that the best drilling targets can be defined.
Aurania Resources is advancing at an incredible pace, and continues to do so! That is why a hot autumn of news awaits shareholders! More details about the drillings and the planned scope will be announced separately. The enormous grades in the soil samples on all parts of the project examined so far indicate a powerful depot.
Eric Sprott invests CAD 5 million in Summa Silver Corp.
The Canadian silver explorer Summa Silver Corp. (ISIN: CA86565E1051 / CSE: SSVR) has completed a non-bank financing in the form of a private placement of corporate units at a price of $ 1 per unit for gross proceeds of $ 8 million. Billionaire Eric Sprott, one of the major commodity investors, has taken on a lead order for an impressive 5 million CAD!
Each unit issued consists of one common company share and half a warrant. Each entire warrant entitles the holder to purchase one additional share at a price of CAD 1.75 over a period of two years with a term from the conclusion of the offer.
Prior to the offer, Sprott held 4 million common shares. The number will increase to 9 million common shares and 2.5 million warrants upon closing, representing 17.64% of the issued and outstanding common shares on a non-diluted basis and 21.50% on a partially diluted basis after the warrants are exercised.
If the volume weighted trading price of the common stock on the Canadian Securities Exchange is at least CAD 3 or more for ten consecutive trading days, Summa has the right to advance the warrant’s expiration date by issuing a press release. The warrants will then expire 30 days after the date of this press release.
Galen McNamara, CEO of the company, thanks all new and existing shareholders for their continued support and says:
“With more than CAD 12 million, we have a solid financial basis to advance our aggressive exploration program on the east side of the historic Tonopah mining district. Since the drilling work is already underway and making good progress, we look forward to publishing new analysis results in the near future. “
The net proceeds of the offering will be used for exploration, business development and general working capital purposes. The securities issued as part of the offer are subject to a statutory holding period of four months and one day.
The exploration work at Summa Silver is being advanced financially well. And with that, the company is entering an exciting phase. The first of 15 planned holes totaling 7,500 meters will test the immediate area of the Company’s historically producing Belmont Mine, which is reported to have produced 36.7 million ounces of high grade silver and 428,000 ounces of gold but has never been systematically explored !
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