AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Getting Closer to the Source of Copper at Tsenken N1
Drilling intersects sediment-hosted copper at Tsenken N1. Six drill holes have been completed, representing 1,859 meters of drilling, at the Tsenken N1 copper-silver target. Hole TSN1-007, which is still underway, intersected sediment-hosted copper mineralization visible over roughly 2 kilometers, along with salt which is a key element of sediment-hosted copper mineralized systems. A fault system is thought to have fed copper into the sediments much in the way it did zinc-silver in the Tiria-Shimpia area. Management believes that Tsenken and Tiria-Shimpia may be part of the same mineralized system, extending over 45 kilometers, that gradually changes from copper-dominant to zinc-dominant mineralization.Potential for multiple beds of mineralization. Management believes the copper-silver found within the Lost Cities project is similar to that found in the Kupferschiefer of northern central Europe, one of the world's largest sediment-hosted accumulations of copper ore. The source for the copper in sediment-hosted layered copper deposits is often sections of oxidized sediments, or red beds, and volcanic rocks. There are multiple layers of sandstone leading management to believe the geological formation is mostly comprised of red bed sediments although the grade and thickness of the copper and silver mineralized carbon beds are not yet known.Two holes completed at Tiria-Shimpia. Two drill holes have been completed at the Tiria-Shimpia silver-zinc target, representing 762 meters of drilling. Hole SH-003 has reached a depth of 300 meters. Faint silver-zinc mineralization was intersected in 7 sedimentary layers in Hole SH-001 and results for Hole SH-002 are pending.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. One of the unique aspects of Aurania's large land position is the potential for it to have entire mineralized systems hosting large deposits. The current drilling program appears to be providing management with a clearer view of the system encompassing Tsenken N1 and Tiria-Shimpia, along with its potential. Read More >>