AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Epithermal Gold Targets In the Line-Up
Drilling program. Six drill holes have been completed at the Tsenken N1 sediment-hosted copper-silver target with Hole TSN1-007 still underway. We think management intends to complete 10 drill holes at Tsenken N1. Three drill holes have been completed at the Tiria-Shimpia silver-zinc-lead target. While the first two holes intersected more mineralized layers than anticipated, grades were lower than expected. Results from Hole 3 are expected to be similar. The rig is being moved to a different location than the first three holes and drilling will begin later this month.Epithermal gold targets. Aurania will resume drilling on the epithermal gold-silver systems, including Latorre C, later this year while management prioritizes various targets that continue to emerge in the southwestern portion of the project area. While recent drilling activity has centered on Tsenken N1 and Tiria-Shimpia, epithermal gold targets will likely get renewed attention later this year.Tatasham emerges as a promising copper porphyry target. The Tatasham porphyry copper target, the largest magnetic feature identified in the company’s 2017 geophysical survey, is emerging as a promising target for scout drilling although it would require constructing another drill camp. A cylindrical central magnetic area that is 3 kilometers in diameter partially enclosed by a conductive zone is evident in the MobileMT geophysical data. Management believes the cylindrical core is a porphyry and the adjacent conductive area is sulphide-rich, constituting a high-priority target for scout drilling.Rating is Outperform. Aurania’s exploration program is providing an abundance of drilling targets for a variety of metals and the potential to make multiple discoveries in its large concession package. Aurania currently has formal access agreements with 44 of the 55 communities within the concession area and, as of June 30, stream sediment sampling has been completed over 63% of the project area. One of the unique aspects of Aurania's large land position is the potential for it to have entire mineralized systems hosting large deposits. Read More >>