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Exploratory drilling hits very first iron oxide-copper-gold system in Ecuador – Columns

Many applications in our daily life already require a lot of copper, and the trend is rising! But the supply side cannot keep up with demand.

That is why new copper projects are becoming more and more important!

Dear Readers,

as we already know, owns Aurania Resources (ISIN: BMG069741020 / A2DKJ4 / TSX-V: ARU) with his TOP project ‘Lost Cities – Cutucu’ a real treasure of precious metals and copper! The iron oxide-copper-gold-silver project in the southeastern part of Ecuador is in an aggressive exploration phase. Thanks to different analysis methods, further promising results and updates came to light.

The company reported on drilling and exploration progress in further press releases, e.g. on the 8th (LINK to the press release) and December 10, 2020 (LINK to the press release).

First results promise BIG !!

With such significant discoveries, it stands to reason that further spectacular news will follow as part of the approximately 36,000 meter drill program that began in September!

On the trail of the Spanish gold diggers!

The ‘Lost Cities’ project, in the south-eastern part of Ecuador, which consists of 42 concessions over an area of ​​approximately 208,000 hectares, is perhaps the only project that has ever carried out professional historical archival research using modern geological, geochemical and geophysical exploration techniques in a geographical area with high potential for discovery.

Source: Aurania Resources

On to the new exploration level, thanks to a fresh 11.5 million CAD!

Due to the extremely high demand in the last financing round, the successful financing of 11.5 million CAD, including the full exercise of the over-allotment option, was announced on October 29. With this money, the major project “Lost Cities Cutucu” in Ecuador can be raised to the next exploration level, and the first explorations can be undertaken in neighboring Peru.

The exploration program is in full swing! First drill results from nearly 2,000 meters of drill samples published !!

The reconnaissance boreholes at ‘Tsenken N2’ and ‘N3’ identified the first iron oxide-copper-gold system (‘IOCG’), which is even stronger towards the north and thus differs from the magnetic central function of Tsenken, where the target ‘Tsenken’ N1 ‘lies, moved away! It covers an area of ​​over 20 square kilometers and has many analogies to other ‘IOCG’ systems around the world.

Source: Aurania Resources

However, as assumed by the exploration team and management, the wells drilled on the periphery of the iron oxide-copper-gold system ‘Tsenken’ could not make any significant contribution to the increase in resources, as no significant copper-gold mineralization was intersected. These three holes for a total of 645 meters were deliberately located outside the mineralized zone in order to further define the location and extent of the ore body.

The extremely exciting and hopefully informative results of the 230 meter and 494 meter deep boreholes TS-004 and TS-005, which were drilled on ‘Tsenken N3’, and which were set much closer to the expected core of the system, are still in the analysis laboratory! We hope to have them presented soon.

Well TS-006, which was drilled 1 km north of holes 4 and 5 and is also located in the ‘Tsenken N3’ system, has reached a depth of approximately 250 m and is planned to be drilled to a depth of approximately 500 meters will. There alteration mineral vectors indicate that the center of this ‘IOCG’ system could be located here!

Dr. Keith Barron, Chairman and CEO of Aurania, said:

“Our exploration model, developed from knowledge of the Tsenken North drilling, included holes TS-001 through 003 outside the mineralized zone, so the assay results obtained were not a surprise. The mobile ‘MT’ exploration is intended to complement the exploration wells that have been drilled to date, as it is designed to record the electrical conductivity associated with the sulphide-bearing core of the mineralized system. “

Source: Aurania Resources

In the figure above you can see a vertical profile section through a typical ‘IOCG’ system, showing the distribution of iron minerals (left half) and silicate minerals (right half). The drilling positions of the holes TS-001 – 005 are also shown.

In a further press release, dated December 12th, 2020, Aurania Resources reported on its preparations for the reconnaissance drilling on the ‘Tsenken N1’ area, the next TOP target on the exploration list.

Is the real treasure hiding here ?!

The target ‘Tsenken N1’ lies in the central magnetic feature of ‘Tsenken Central’ and will be second iron oxide-copper-gold system which is to be tested as part of so-called ‘scout’ drilling. This type of drilling is used to test the depth expansion of a copper-silver bearing breccia that is already exposed on the surface.

Initial soil sampling in July of this year already indicated a copper concentration along a copper-silver mineralized trend. Promising anomalies have also been discovered in an adjoining area that was previously 500 mx 200 m. This now needs to be confirmed with new holes.

Source: Aurania Resources

As usual from Aurania, we continue at full throttle! The aggressive drilling program is proceeding according to plan and after the successful drilling on ‘Tsenken N2-N3’ it is now on to ‘Tsenken N1’ to explore the central magnetic features more closely!

Geophysical data from the ‘Mobile MT’ to specify further explorations!

In addition to the drilling, the geophysical, helicopter-based ‘Mobile MT’ exploration is now starting and is expected to be completed by the end of January 2021. The results of this survey are expected to make a significant contribution to the exploration of the sulphide bearing core of the IOCG targets, as well as complement the magnetic data in refining the porphyry copper and epithermal gold-silver and silver-zinc-lead targets .

Dr. Keith Barron stated:

“We assume that the geophysical data from the ‘Mobile MT’ method will complement the mineral vectors obtained from the ‘Scout’ wells and will refine the targets for further exploration.”

What happens now?

The other plans at a glance:

  • Completion of borehole TS-006 at ‘Tsenken N3’
  • Integrating the data from the Mobile MT geophysical survey with existing magnetic data from the 2017 geophysical survey and other exploration data to refine the high priority targets
  • Reconnaissance drilling on the 25 square kilometer ‘Tsenken N1’ part including the target area ‘Tsenken Central’
  • Preparation of reconnaissance drilling for part of the 15 kilometer long ‘Tiria-Shimpia’ target in the silver-rich zinc-lead system
  • Continuation of soil sampling on the magnetic feature ‘Tsenken Central’
  • Providing an update of the ‘LiDAR’ results when searching for activities related to Spanish colonial mining in the project area
  • Continuation of the exploration work that led to the discovery of the ‘IOCG’ prospecting area ‘Sunka’

That is why copper will continue to rise: the electric car boom is driving the demand for copper

In view of the global boom in electric cars and the global increase in investments in sustainable infrastructure, the future prospects for the industrial metal copper are sensationally good. Therefore the absolute necessity to develop new copper production facilities!

The International Copper Association (‘ICA’) believes that by 2030, more than 250,000 tons of copper per year will be used as windings in electric motors in electric vehicles on the road. Therefore, with the advancing electrification of road traffic, the demand for copper will also increase significantly.

Based on these prospects, further positive results can increase the enterprise value of Aurania Resources (WKN: A2DKJ4 / TSX-V: ARU) multiply! Aurania Resources offers you the opportunity to participate disproportionately in the electric car and copper boom!

Tight share structure promises quick profits

Another plus for Aurania is the extremely tight share structure. Because insiders hold about 45% of the outstanding shares, a large part of which on the CEO Dr. Keith Barron not applicable. And this expert knows what he’s doing.

When Co-founder of Aurelian ResourcesKeith Barron, who discovered ‘Fruta del Norte’ in Ecuador as a little explorer in 2006 and was sold to Kinross just two years later for an incredible 1.2 billion CAD, knows the area like no other. With the help of his expertise and his relationships, this project can sooner or later find a new owner for a lot of money!

https://www.youtube.com/watch?v=jY3Y8_Sazb0&t=3s

Conclusion:

As part of previous exploration work, Aurania has already identified several targets that can be grouped into the categories of epithermal gold, silver-zinc-lead, porphyry copper and sediment-hosted copper-silver. All of these targets are exceptionally good exploration targets, with the 36,000 meter drill program initially focusing only on the copper-silver and gold-silver targets on the Lost Cities project.

So you can expect a lot of new and meaningful news in the next weeks and months! We look forward to this and estimate that the coming results will give Aurania further impetus. The time for copper and gold from Ecuador has come and Aurania Resources (WKN: A2DKJ4 / TSX-V: ARU) is one of the absolute pioneers in this country.

Best regards and maximum success with your investments!

your

JS research team

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