Subscribe
Be the first with the news that moves the market- Aurania Resources (ARU) has posted the bouldering sample results from its Lost Cities project in Ecuador
- The results included assays as high as seven per cent copper and 55 grams per tonne silver from bouldering rock chip sampling taken on the site
- The assays come from the Tsenken North One zone on the site, the northern margin of the Tsenken target, a large mineralised breccia the company has located on the property
- Based on the results, the company is now targeting the whole breccia body and not just the solid mineralised section
- Aurania Resources (ARU) is up 3.5 per cent and is trading at C$3.19 per share
Aurania Resources (ARU) has posted the bouldering sample results from its Lost Cities project in Ecuador.
The Lost Cities project is part archaeological and part minerals exploration, in which Aurania hopes to locate Spanish silver mines along Ecuador’s south-eastern boarder
The latest results from the boulder sampling program have returned results as high as seven per cent copper and 55 grams per tonne silver. The boulders were found beneath the jungle’s canopy in an area of 500 metres by 400 metres.
The company has revealed that both the breccia at Tsenken and the matrix of finely grained soil within the breccia are mineralised.
As a result, the company is now targeting the whole breccia body and not just the solid mineralised section.
The Tsenken target has proved particularly difficult to explore, due to the dense jungle cover and the relative shortish boulders that occur on the target.
CEO of Aurania Resources, Dr Keith Barron said he was delighted to have struck such high-grade intercepts.
“This represents a relatively simple target that is likely cylindrical in shape – and this will be readied for scout drilling using an ultra-lightweight rig as soon as possible behind the drilling that is planned for Tsenken N2 and N3 targets.
“The combination of copper with silver without significant enrichment of other metals is unusual – and hence we believe that all three types of mineralization are likely linked,” he said.
Aurania Resources (ARU) is up 3.5 per cent and is trading at $3.19 per share at 10:00 am EDT.
