ARU - Aurania Resources (AUIAF) - Interesting High-Grade Discovery at Tsenken Target

Field work is progressing. Aurania’s exploration teams resumed field work in mid-June to commence mapping and soil sampling on priority targets for gold-silver, copper-gold, and copper. For the sediment-hosted copper and silver targets, the focus is on determining the mineral continuity within sedimentary layers through mapping and soil sampling in the Tsenken target area. The Tsenken N2 and N3 targets are being soil sampled and mapped in preparation for scout drilling with an ultra-light rig. A heliborne mobile geophysical survey is also being considered which could be done relatively quickly.Work restrictions remain. To comply with a government-mandated 50% cap on employees operating in the field or in the office at any one time, Aurania field teams operate on a two-week rotational schedule. Exploration teams are working in six target areas.Encouraging finding at Tsenken N1 target. Aurania reported that grades of up to 7% copper with 55 grams of silver per tonne have been discovered in a large breccia body at the Tsenken N1 target. Drilling is expected to commence at the Tsenken N2 and N3 targets prior to the end of the third quarter and the N1 target will be drilled immediately thereafter. Field teams are identifying copper and silver in breccia, sedimentary-hosted mineralization, and intrusive rocks and note the absence of other metals which highlights some commonality among the mineral types.Rating remains Outperform. Aurania’s exploration program has already revealed the rich mineral potential of the Lost Cities project and yielded ample drilling targets. With teams having returned to the field, we believe the company is well positioned to accelerate its efforts.Read More >>