AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Moving Closer to a Discovery

Tiria-Shimpia drill results may require follow-up. Drill hole SH-004 at the Tiria-Shimpia silver-zinc target returned a high-grade intercept of 12.4% zinc, 5.4 grams of silver per tonne, 61 grams of gallium per tonne, and 9 grams of indium per tonne over 2.0 meters at a depth of 52.0 meters. The mineralized interval lies within an 8.5-meter halo of 3% zinc. Management may consider drilling deeper and below weathered sulphide mineralization to intersect higher grade zinc-silver shoots at depth.Hole TSN1-009 at Tsenken in progress. Drilling recently commenced at Hole TSN1-009 with a planned depth of approximately 500 meters. The target of Hole TSN1-009 is copper-silver mineralization in evaporite mineral beds within sedimentary layers. Because Hole TSN1-009 has reached 350 meters depth and penetrated numerous salt layers in the red bed, management believes there is significant potential for copper sulphide mineralization.Preparations for Awacha. An access agreement associated with the Awacha target area has been signed. Following engagement with indigenous communities, exploration teams are expected to begin work in mid-December to refine porphyry targets. Planned field work includes mapping of alteration minerals often associated with porphyries, as well as soil sampling in a regular grid over geophysical features and stream systems where elevated metal content was detected.Rating is Outperform. Aurania’s exploration activities are progressing well at both Tiria-Shimpia and Tsenken N1. We think Hole TSN1-009 could help fill in the picture at Tsenken N1 and are also encouraged that exploration could begin this month at Awacha. We expect greater momentum moving into 2022 as Aurania’s exploration activities are affirmed with positive drill results and discoveries and progress at new targets. Read More >>