- Aurania Resources (ARU) has hit upon another high-grade silver and copper target, while searching for lost mines in Ecuador
- At its Lost Cities Cutucu Project, the company intercepted breccia grades up to 10 per cent copper and 131 grams per tonne silver
- The breccias were discovered at the site’s Tsenken A target area, roughly two kilometres east of the previously explored Tsenken N1 target
- Through the project, the company hopes to discover the lost mines of Logroño de los Caballeros and Sevilla del Oro, which it believes reside in Ecuador’s Cordillera de Cutucu region
- Aurania Resources (ARU) is up 0.29 per cent and is trading at C$3.45 per share
Aurania Resources has hit upon another high-grade silver and copper target, while searching for lost mines in Ecuador.
At the Lost Cities Cutucu Project, the company has intercepted breccia grades up to 10 per cent copper and 131 grams per tonne silver.
The breccias were discovered at the site’s Tsenken A target area, around two kilometres east of the Tsenken N1 target, which reported similarly promising results last week.
The project is located along the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador. Unlike other prospecting projects around the world, the Lost Cities Cutucu Project is combining modern mineral exploration techniques with historical archeology.
Through the project, the company hopes to discover the lost mines of Logroño de los Caballeros and Sevilla del Oro, which it believes reside in the Cordillera de Cutucu region of Ecuador.
The sites were noted in historical document reaching as far back as the sixteenth century, and the company hopes to unearth the same mineral veins that established the historical mines.
Dr. Keith Barron, Chairman and CEO of Aurania noted that sedimentary hosted copper-silver is not usually found in close proximity to porphyries, as it is at the Lost Cites project.
“Our project is clearly something different and potentially important, but the relationship to porphyry and the geometry will ultimately be determined by drilling, which we intend to initiate in the third quarter of this year.
“In many geological scenarios the thickest and highest-grade portions of systems are areas of greatest focussed fluid flow, and these are potentially attractive targets in a broader regional context,” he said.
Aurania Resources (ARU) is up 0.29 per cent and is trading at C$3.45 per share at 12:24pm EDT.