Aurania Resources Confirms Significant Amounts of High-Tech Metals in Tiria-Shimpia Samples
(PresseBox) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (?Aurania? or the ?Company? - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ ) reports that laboratory assays have confirmed the presence of the high-tech metals, gallium (?Ga?) and indium (?In?) in significant amounts in rock-chip samples from the Tiria-Shimpia target in the Company?s Lost Cities ? Cutucu Project (?Project?) in southeastern Ecuador.
Gallium and indium are known to substitute for zinc in the structure of sphalerite (zinc sulphide mineral), and sulphidic zinc ores are a major source of these by-product metals.
Next generation GaAs semiconductors promise to bring a huge market, not totally replacing the existing semiconductor market, but ultimately making a huge dent in it. The ability to replace silicon semiconductors, a market that is $500 billion dollars in 2020 makes one sit up and take notice. The existing silicon semiconductor market is a pretty good size for a market that barely existed in 1975. Next generation GaAs support the signal speed that is needed to implement 5G. (Business Wire, March 4, 2020).
It has been well-publicized that there is currently a worldwide shortage of GaAs semiconductor chips.https://roskill.com/news/gallium-price-floor-set-to-rise-in-2021. Whatever the situation, it would appear that gallium supply is inelastic.
So far, sampling at Tiria-Shimpia has produced maximum values of 163 parts per million (?ppm?) for gallium and 39 ppm for indium.https://www.kitco.com/strategic-metals/), the gallium price has ranged between approximately US$200 to US$534 per kilogram (?kg?) over the past five years.
It should be made clear that the Company has not performed any metallurgical testing to date to determine the extent to which these metals are recoverable in any quantity, if at all.
About the Area
Gallium and indium values are concentrated in the central part of the Tiria-Shimpia target in an area approximately 500 metres long, that remains open to the south. Elevated gallium and indium are found in crackle-brecciated limestone that contains veins of sphalerite and barite, associated with high values in silver and zinc reported in prior press releases dated May 21, 2021.
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.
Analytical procedure:
QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania?s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.
Qualified Person
The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.
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.
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 athttps://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
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 Aurania?s 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 management?s 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 Aurania?s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation?s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, 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, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania?s 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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Datum: 25.05.2021 - 09:04 Uhr
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News-ID 1567476
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