Source: Quaterra Resources
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  • Aurania Resources (ARU) reports the company’s first drill hole at the Tsenken N1 target intersected sediment-hosted copper in the company’s Lost Cities – Cutucu Project
  • The Lost Cities – Cutucu Project is located in southeastern Ecuador
  • The first drill hole at the target reached a depth of 722 metres
  • Native copper was intersected within 2 metres of the maximum depth of the drill
  • Shares of Aurania Resources are down 6.06 per cent on the day, and trading at C$2.48 at 2:08 pm ET

Aurania Resources’ (ARU) first drill hole at the Tsenken N1 target intersected sediment-hosted copper in the company’s Lost Cities – Cutucu Project.

The Lost Cities – Cutucu Project is located in southeastern Ecuador.

The first drill hole at the target reached a depth of 722 metres and native copper was intersected within 2 metres of the maximum depth that the small-format drill could reach.

The second drill hole on the target is now underway.

Mineralization is immediately beneath a 75-metre thick lava layer that constitutes an impermeable barrier within the permeable sedimentary strata.

Though the intersection was modest with grades below economic levels, the occurrence of native copper beneath the impermeable layer within the red beds is a key piece of evidence supporting the exploration model that the company is using for sediment-hosted mineralization.

“We believe that through a modest intercept, that we have cracked one of the key elements to sediment-hosted copper in the Tsenken target area, and we look forward to completing the second drill hole that is currently underway. The drill had reached its maximum depth just as it entered the MobileMT conductor at the first hole. The native copper intersected is extremely conductive – it’s effectively like intersecting electrical wire mesh in the drill hole. Our exploration model for sediment-hosted copper mineralization combines oil geology with controls on the formation of mineral deposits to define the location of target areas for drilling,” said Aurania Chairman and CEO Dr. Keith Barron.

Shares of Aurania Resources are down 6.06 per cent on the day, and trading at C$2.48 at 2:08 pm ET.

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