Impact: Positive
Aurania has announced the discovery of a new epithermal zone ~8km south of the “Crunchy Hill” target area. The new discovery is called “Yawi”, which means “thermal spring” in the local Shuar language.
Impact: Positive
Recent exploration at the company’s Lost Cities – Cutucu Project has revealed an entirely new epithermal system, now called the “Charip” target, which is completely separate from its cluster of targets at Latorre and its Awacha porphyry target.
Impact: Positive
Following up on the previously discovered chalcedonic silica at the Latorre target led to the identification of the source of vuggy silica rocks, which is a known indicator of epithermal gold-silver systems thus making the recently renamed Crunchy Hill (was Latorre B), the most likely initial drill target for Aurania.
Impact: Positive
Recent exploration success at Lost Cities, pushes management to renew the entire Lost Cities – Cutucu Project. Due to the additional fees, Dr. Keith Barron, Chairman & CEO invests US$2 million through a convertible debenture loan, convertible into common shares at C$3.00/share, a premium to the market (C$2.86 as of close April 5, 2018).
Aurania Resources Ltd. (TSXV:ARU) has found evidence of porphyry-style alteration related to its Awacha geophysical target at its Lost Cities – Cutucu Project, Ecuador. The geophysical surveys at Awacha previously detected a cluster of magnetic features, which are believed to be indications of buried magnetic cores of porphyries.
Aurania Resources Ltd. (TSXV:ARU) has identified 3 additional targets with features typical of the upper parts of epithermal gold-silver systems, Latorre A, Latorre B and Latorre C in the Latorre area. Exploration at Latorre continues to resemble the discovery of Fruta del Norte, as well, now to the Alto Chicama deposit (Lagunas Norte Mine) in northern Peru.
Red Cloud Klondike Strike Inc. and Aurania Resources Ltd. (TSXV:ARU) hosted a conference call for investors to provide an update on its ongoing exploration program on its 100%-owned Lost Cities – Cutucu Project in southeastern Ecuador.
Aurania Resources Ltd. (TSXV:ARU) reported results on its initial field exploration, which included stream sediment results and rock textures, on its 100%-owned Lost Cities – Cutucu Project in southeastern Ecuador. The company was able to identify its first epithermal target, which is the prime target for Au-Ag deposits within the project area.