AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Making Progress
Drilling progressing at Kuri-Yawi and Tsenken N1. Aurania has completed two holes at the Tsenken N1 copper-silver target, representing 722 meters and 433 meters of drilling, respectively, and is currently drilling a third hole. One hole has been drilled at the Kuri-Yawi 1 epithermal gold-porphyry copper target representing 1,212 meters, with a second hole being drilled. Recall that Aurania’s Mobile MT geophysical survey clearly defined a feature thought to be the sulphide-bearing core of a porphyry at the Kuri-Yawi target. Upcoming drill targets include the Tsenken West copper-silver and Tiria-Shimpia silver-zinc targets.Narrowing in on high-grade zones at Tiria-Shimpia. Exploration and channel sampling is yielding information about the distribution of grade on surface within the 15-kilometer trend along which silver-zinc is located at Tiria-Shimpia. This trend was recently extended to a total of 22 kilometers after the discovery of a 7-kilometer-long mineralized zone at Shimpia North. Within a 2.7-kilometer-long mineralized zone, Aurania’s exploration team discovered a 500-meter segment of high-grade material with silver grades up to 73 grams of silver per tonne and up to 49% zinc.Drilling sequence. Aurania currently has two rigs deployed with one working at the Tsenken N1 target and the other at Kuri Yawi 1. The first drill rig will eventually move on to Tsenken West and then to Tiria-Shimpia. The second drill rig will move on to Kuri-Yawi 2. The Tsenken N4 copper-gold, Tsenken B copper-silver, and Kuri-Yawi 3 copper-gold targets remain in the queue. Management has mentioned the order could change along with the potential for a third rig to be deployed at Tiria-Shimpia.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. The drilling program is progressing on schedule and the latest discovery at Tiria-Shimpia is encouraging because while the 22-kilometer trend is mineralized, the company appears to be narrowing in on the highest-grade sections for drilling. Read More >>