AUIAF - Aurania Resources (AUIAF)(ARU:CA) - Zeroing in on the Most Immediate High Potential Targets
New epithermal gold-silver target. A new epithermal gold target has been identified near the Kuri-Yawi target with soil samples returning gold values up to 0.56 grams of gold per tonne over a 0.67 square kilometer area. The Latorre C target forms part of the same epithermal system as Kuri-Yawi. Sinter material has defined probable upwelling zones that typically lie at the core of epithermal systems and MobileMT geophysical data revealed a conductive zone lying beneath the sinter.Drilling program. Six drill holes have been completed at the Tsenken N1 copper-silver target with Hole TSN1-007 still underway. We think management intends to complete 10 drill holes at Tsenken N1. Two drill holes have been completed at the Tiria-Shimpia silver-zinc target with Hole SH-003 in progress. Results for Hole SH-002 are pending. We think Aurania will remain focused on Tiria-Shimpia and Tsenken N1 but believe a drill could be deployed at the Latorre C target later in the year.Tiria-Shimpia appears to lead in discovery potential. According to the company's second quarter filings, management expects to dedicate additional resources to Tiria-Shimpia since it represents the company’s first discovery of potentially significant mineralization within the Lost Cities project. Silver-zinc-lead, with associated barite, has been traced over 22-kilometers. Up to seven stacked layers of mineralization have been identified, extending between 500 meters and 1.2 kilometers along trend in an area that has been sampled and analyzed. 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.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. Read More >>