- Aurania Resources Ltd. (TSXV:ARU) has discovered a possible ancient road on the Cutucu Project in Ecuador
- Aurania is hoping the road is related to Colonial Spanish gold mining in the area
- However, the possible road will need to be confirmed on location by a qualified and Ecuador-registered archaeologist to be considered legitimate
- The company will recommence exploration at the Cutucu Project, once the COVD-19 restrictions are lifted in the province
- Aurania Resources Ltd. (ARU) is up 7.91 per cent, with shares trading for C$3.41 and a market cap of $46.1 million
Aurania Resources (TSXV:ARU) has discovered a possible ancient road on its Cutucu Project in Ecuador.
Aurania is hoping the road indicated is related to Colonial Spanish gold mining in the region.
However, the possible road will need to be confirmed on location by a qualified and Ecuador-registered archaeologist to be considered legitimate.
The company noticed the possible road while looking over previously gathered survey data. The data was gathered before the site was forced to temporarily close following the onset of the COVID-19 crisis.
This is the second potential ancient road the company has identified through LiDAR surveys on the site. The LiDAR method uses laser technology to develop a three-dimensional picture of property.
Aurania’s Chairman & CEO, Dr. Keith Barron said the technology has been a valuable tool for exploring the property.
“We’re using the LiDAR in two principal areas: to refine our geological targets for gold and copper exploration; and secondly, to identify possible remnants of infrastructure from Colonial Spanish times related to gold mining in the ‘lost cities’ of Logroño and Sevilla.
“However, this LiDAR interpretation requires further verification in the field. We are making good use of our time during the COVID-related shutdown to take a very close look at our LiDAR data and integrate it with our large geophysics and geochemistry databases,” he said.
The company will recommence exploration at the Cutucu Project, once the COVD-19 restrictions are lifted in the province.
Aurania Resources Ltd. (ARU) is up 7.91 per cent, with shares trading for C$3.41 at 11:55am EDT
