AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Virtual Roadshow Highlights
Virtual Roadshow. Noble and Channelchek recently hosted a well-attended virtual roadshow featuring Dr. Keith Barron, Chairman and CEO, and Dr. Richard Spencer, President and Director, of Aurania Resources Ltd. Both provided an update on the company’s progress to date and plans going forward. To date, 28 holes have been drilled, representing 12,018 meters of drilling, among several targets, including the Crunchy Hill and Kuri-Yawi epithermal gold-silver targets, the Tsenken N2/N3 porphyry copper targets, and Tsenken N1 sedimentary-hosted copper-silver target.Drilling Program. The company has three drill rigs in the field with two currently active. Drilling will continue at the Tsenken N1 target, with a second rig currently drilling the first hole at the Tiria-Shimpia silver-zinc target. 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 JV opportunities. With such a large land package hosting a variety of mineralization, management discussed the potential to joint venture or spin-off certain claim packages at some point. Under a joint venture scenario, a major mining concern could assume exploration activities to completion of a feasibility study and earn up to a certain percentage (i.e., 75%) with Aurania holding the remaining interest in a specific project. This is common practice in the industry and relieves the junior explorer from having to commit further capital once a discovery is made while still retaining an ownership interest.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. We anticipate that management could have a clearer view of the system encompassing Tsenken N1 and Tiria-Shimpia by the end of summer. Read More >>