Aurania - CEO, Dr Keith Barron
CEO, Dr Keith Barron
Source: Bloomberg
  • Scout drilling at Aurania Resources’ (ARU) Tsenken N2 copper target in Ecuador has unearthed potentially fruitful results
  • Drilling at the target intersected altered mineralisation associated with an iron oxide copper-gold system
  • Aurania’s management revealed one of the three assays contained “wholescale replacement of the original rock by iron oxide” in some sections
  • With the results still pending, the company has planned an upcoming heliborne survey, as well as a step-out drill program at the nearby Tsenken N3 target
  • Aurania Resources (ARU) remains unchanged and is trading at C$4.09 per share

Scout drilling at Aurania Resources’ (ARU) Tsenken N2 copper target in Ecuador has unearthed some potentially fruitful results.

Drilling at the target intersected altered mineralisation associated with an iron oxide copper-gold system.

In the first core of three drill holes, the company’s management were very encouraged to see what was as described as “wholescale replacement of the original rock by iron oxide” in some sections.

The core samples have now been sent through to the assay laboratory for analysis.

Aurania CEO Dr. Keith Barron drew comparisons between the alteration seen in the early drilling and the mineral system at the Sossego copper-gold deposit in Brazil. He went on comment on the inbound results.

“Aurania has already carried out substantial geochemical and geophysical surveying to define a large number of targets and the objective of ‘scout drilling’ a limited number of holes per target is to achieve discovery in a minimal amount of time, knowing that an eventual full investigation of all the targets will take substantial time and resources,” he said.

While the results are being analysed, Aurania plans to perform a step-out drill program at Tsenken N3 target, which is located 1.7 kilometres from Tsenken N2.

On top of the step out program, Aurania is currently in talks with MPX Geophysics to perform an MMT heliborne survey over the current targets, in order to gain a better picture of the underlying mineralisation. The survey is expected to begin sometime this month.

Aurania Resources (ARU) remains unchanged and is trading at C$4.09 per share at 9:33am EST.

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