AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Exploration Resumes at Awacha; Awaiting Tsenken Drill Results
Closing in on high-grade areas at Tiria-Shimpia. Based on feedback from Professor Gregor Borg, a specialist in sediment-hosted copper, zinc, and lead, management is gaining a better understanding of the sediment-hosted silver-zinc and copper-silver targets at Tiria-Shimpia and Tsenken, respectively. Information from Hole SH-004 results at Tiria-Shimpia were considered along with information from sampling of the mineralized zone at surface to provide an initial understanding of the pattern of mineralization representing a significant step toward identifying where high-grade zones are likely to be found. Management may consider drilling deeper to intersect higher grade zinc-silver shoots at depth.Tsenken drill results expected shortly. We anticipate results of Hole TSN1-009 drilled at the Tsenken copper-silver target to be available shortly. The target of Hole TSN1-009 is copper-silver mineralization in evaporite mineral beds within sedimentary layers. Professor Borg reviewed all the core drilled at Tsenken. Drilling penetrated salt layers in the red bed which would have made the basin predisposed to leaching and transporting metals in fluids. Management is focused on identifying the sites where the metals would have accumulated, and progress has been made in identifying potential trap locations for drilling.Exploration resumes at Awacha. An access agreement was recently signed with the communities around the Awacha porphyry copper target area and exploration teams returned to the area in early January to refine porphyry targets. Exploration at Awacha suggests that it may include a cluster of three porphyries. Field teams are focusing on soil sampling over the geophysical features and concentrations of copper, combined with molybdenum, representing target areas that could be prioritized for scout drilling.Rating is Outperform. Aurania has gotten off to a strong start in 2022 with the resumption of exploration activities at Awacha and results from Hole TSN1-009 at Tsenken N1 expected shortly. While the pace of drilling may depend on COVID considerations in Ecuador, management may also devote more time to analytical work which has been productive in refining drill targets. Read More >>