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- Aurania Resources (ARU) has confirmed the extension of the Tiria-Shimpia silver-gold target at its Lost Cities Project in southeastern Ecuador
- The discovery covers a total strike length of 15 kilometres, which has been short-listed for a later drill program
- Soil sampling at the Tiria-Shimpia target defined a large mineralised system covering 75 square kilometres, which remains open along trend
- Rock chip samples from boulders had grades of up to 710 grams per tonne of silver and 48 per cent zinc
- Aurania Resources (ARU) is currently up 14.03 per cent and is trading at C$5.04 per share
Aurania Resources (ARU) has confirmed the extension of the Tiria-Shimpia silver-gold target at its Lost Cities Project in southeastern Ecuador.
The discovery covers a total strike length of 15 kilometres, and sits within a larger mineralised system that covers an area of 75 square kilometres. It remains open along trend, on the margin of an intensely magnetic feature interpreted to be a porphyry cluster.
Rock chip samples from boulders in the region returned grades of up to 710 grams per tonne of silver and 48 per cent zinc, while outcrop samples returned up to 356 grams per tonne of silver, 12.7 per cent zinc and 11 per cent lead.
Aurania also confirmed that epithermal-type pathfinder elements, such as naturally-occurring arsenic, mercury, antimony, thallium and selenium, lie along the same fault structure.
Keith Barron, Chairman and CEO of Aurania Resources, said the Tiria-Shimpia is shaping up to be one of the most compelling targets in the company’s portfolio.
“We’re excited about this target area because the silver zone lies in the central part of a far larger mineralised system that, itself, lies on the flank of the biggest magnetic feature of our entire geophysical survey.
“We expect the roots of the mineralisation to be a system of veins from which mineralisation likely seeped into the layering of the limestone host rock to form flat-lying ‘mantos’,” he added.
While a drilling program at the separate Tsenken N2 copper target is ongoing, Aurania has short-listed the Tiria-Shimpia target for a later drill program, which is expected to begin once the work at Tsenken N2 has been completed.
Aurania Resources (ARU) is currently up 14.03 per cent to C$5.04 per share at 12:25pm EDT.