Aurania Confirms Extensive, High-Grade Copper-Silver at ''Tsenken B'' Target in Ecuador

ID: 1559821
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(businesspress24) - Toronto, Ontario, July 30, 2020 - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (Aurania or the Company - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ ) is pleased to report on extensive, sedimentary-hosted high-grade copper-silver in the Tsenken B target area in its Lost Cities - Cutucu Project (Project) in southeastern Ecuador. A summary of targets in the Tsenken area and next steps is provided in Table 1.

Dr. Keith Barron, Chairman and CEO of Aurania commented, We are very encouraged to see the copper-silver in the Tsenken area resolving into specific targets that we aim to drill-test as soon as possible. The light-weight drill rig, that has a maximum reach of 800 metres (2,600 feet) is in country and will be deployed to site in the coming weeks to start the drill program on Tsenken N2 and N3, before proceeding to the other priority targets.

The results reported extend from the intensely mineralized fault breccia at Tsenken A northwards over 6 kilometres (km). The copper-silver is hosted by sedimentary layers that contain fossilized, carbonized plant fragments within an enclosing stack of red-coloured sandstone or red beds. Copper minerals include malachite, chrysocolla, tenorite and chalcocite. Samples from sporadic outcrops that stick up through the jungle floor are distinguished from boulders found in streams and on hillsides in Figure 1.

Table 1. Summary of the targets with associated next steps in the Tsenken area.

Target Characteristics of target Next steps
name

Tsenken N1Copper-silver - bearing Field mapping &
hydrothermal (diatreme?) set-up for
breccia scout
drilling

Tsenken N2Copper enrichment in soil Detailed mapping
over conspicuous magnetic & scout
feature evident in the drilling


geophysical
data

Tsenken N3
Tsenken N4Conspicuous magnetic feature Soil sampling
evident in the geophysical underway
data

Tsenken A Fault-related breccia with Field mapping &
high-grade copper-silver. set-up for
Adjacent sedimentary-hosted scout
copper-silver likely related drilling
to metal-bearing fluid that
rose up the
fault

Tsenken B Sedimentary-hosted Field mapping &
copper-silver mineralization soil sampling
in outcrop & boulders in to define drill
carbon-bearing targets
layers

Tsenken Possible porphyry or Wide-spaced soil
magnetic intrusive-related sampling
centre
cluster
https://www.irw-press.at/prcom/images/messages/2020/52845/Aurania_Tsenken_ENPRcom.001.png


Figure 1. Location of high-grade copper-silver samples taken from outcrops and boulders in streams in the Tsenken B target area on a background of magnetic data (negative reduction to the equator, which is roughly equivalent to reduction to the pole (RTP).
https://www.irw-press.at/prcom/images/messages/2020/52845/Aurania_Tsenken_ENPRcom.002.jpeg


Figure 2. Photo of a piece of Sample Y991879 showing green copper mineral (malachite) and black mineral (chalcocite). The sample contains 7.2% copper and 76g/t silver. Scale bar is in centimetres.

Sample Analysis & Quality Assurance / Quality Control (QAQC)

Laboratories: The rock samples were prepared for analysis at MS Analytical (MSA) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (mm)), from which a one-kilogram sub-sample was taken. The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (g) split was set aside for analysis.

Analytical procedure: Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the over-limit samples, those that had a grade of greater than 1% copper and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Auranias analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits. In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person
The technical information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
VP Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir(at)aurania.com

Dr. Richard Spencer
President
Aurania Resources Ltd.
(416) 367-3200
richard.spencer(at)aurania.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Auranias future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as believes, anticipates, expects, estimates, may, could, would, will, or plan. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet managements expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Auranias objectives, goals or future plans, statements, exploration results, potential mineralization, the corporations portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Auranias public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.



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Date: 07/30/2020 - 08:21
Language: English
News-ID 1559821
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