Toronto, Ontario--(Newsfile Corp. - September 13, 2018) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") reports that an extension to its Crunchy Hill target has been confirmed in pathfinder element enrichment in soil over a one-kilometre trend. Pathfinder element enrichment outlines the shape of what appears to be an underlying vein system which, combined with other datasets, is being used to refine the form and depth of a possible epithermal gold-silver target. Crunchy Hill is the Company's most advanced target in its Lost Cities — Cutucu Project ("Project") in Ecuador and will be the first target to be drilled in late 2018. Detailed exploration is being conducted on other targets so that they can be readied for scout drilling in sequence after the initial drilling at Crunchy Hill.
Soil Geochemistry Results:
Detailed exploration of the Crunchy Hill target resulted in an extension of the original soil sampling grid 800 metres to the west to cover an area in which vuggy silica has been found at surface. The soil sample results show a strong coincidence of pathfinder elements such as molybdenum, silver, antimony, mercury, thallium and lead (Figure 1).
Soil Analyses Refining the Crunchy Hill Target:
The narrow corridors in which the pathfinder elements occur, within the broad one-kilometre trend, is reminiscent of a typical vein system in which the individual veins are inclined to one another. Furthermore, molybdenum is known to be exceptionally stable in the tropical soil profile found in southeastern Ecuador since it does not dissolve and migrate downslope from the position of the underlying rock from which it was weathered and incorporated into the soil. Hence, molybdenum provides a reliable anchor that should faithfully represent the position and shape of the underlying vein system from which it was derived. The confinement of other pathfinder elements, such as antimony and mercury, to coincident corridors with molybdenum adds to the conviction that the corridors represent mineralized structures at depth.
In contrast to the narrow corridors of molybdenum, antimony and mercury, other elements such as naturally-occurring arsenic and iron occur over broader areas of the soil grid — typical of epithermal systems where these elements occur, not only in the veins, but in the enclosing rock as well. The distribution of manganese close to the pathfinder elements is unusual — and highly informative - since it typically occurs as a halo to mineralization in many deposits. An exception to this rule is "intermediate sulphidation" epithermal deposits, of which Fruta del Norte is a prime example, where manganese occurs in a carbonate mineral, rhodochrosite, at the core of the mineralization (Figure 1).
Detailed field mapping is underway to determine whether the inclination of the veins inferred from the pathfinder element corridors can be discerned from features in the vuggy silica. The prime drill targets would be where the veins intersect chemically reactive layers of rock, such as limestone, or permeable units such as tuff, at depth. This data will be used to refine the location and orientation of the drill holes.
Figure 1. Summary of distribution of pathfinder elements in soil at Crunchy Hill.
To view an enhanced version of Figure 1, please visit:
Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. 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:
Manager — Corporate & Investor Services
Aurania Resources Ltd.
Dr. Richard Spencer
Aurania Resources Ltd.
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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 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 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.