Aurania’S Grab Sampling at “Tsenken-a” Target IN Ecuador Yields Copper Grades as High as 9%
TSX-V: ARU
NR 2019-01
AURANIA’S GRAB SAMPLING AT “TSENKEN-A” TARGET IN ECUADOR YIELDS
COPPER GRADES AS HIGH AS 9%
Toronto, Ontario, January 10, 2019 – Aurani a Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) reports up to 9% copper with 185 grams per tonne
(“g/t”) silver – from grab samples of rock in streams draining a doughnut-shaped magnetic feature identified
as the “Tsenken-A” porphyry target in magnetic data fr om the Lost Cities – Cutucu Project (“Project”) in
southeastern Ecuador.
Aurania’s Chairman and CEO, Dr. Keith Barron commented, “The significance of these high-grade copper
results is that they suggest that the highly magnetic fe ature at Tsenken – rather than being one very large,
broad target area - is resolving into a cluster of di screte magnetic features, each of which could be a
porphyry body. So, rather than having one potenti al source of copper at Ts enken, we probably have
multiple sources that underscore the mineralization poten tial of the target area. The resolution of the
magnetic feature at Tsenken into a cluster of discrete bodies is leading us to look at the other big magnetic
features along trend of Tsenken – the Kirus, Jempe and Awacha target areas – as potential porphyry clusters
too”.
“Tsenken A” Target
The high-grade samples contain malachite, chrysocolla, tenorite and chalcocite with minor cuprite. A total
of 8 samples in this area returned grades ranging from 0.9%-9% copper. These secondary copper minerals
are hosted in distinctly bedded sedimentary rocks, some of which have a tuffaceous component. These
high-grade grab samples were found in streams that drai n an area that has a distinct geophysical signature
on the edge of the large magnetic feature at Tsenken. Magnetic data over the Tsenken-A target, acquired
in the geophysics survey flown in late 2017, defines a circular area of relatively low magnetism surrounding
a core of strong magnetism (Figure 1) – the type of signature expected from a porphyry system in which
the central, potassium-altered, magnetite-bearing core is enclosed by “phyllic” alteration in which
magnetite has been altered to non-magnetic minerals.
Copper mineralization at Tsenken-A has been found in an area of 3km by 1km in extent (Figure 1, Table
1). The current exploration concept defines a porphyry body intruding a sedimentary and volcano-
sedimentary sequence, with fluids from the porphyry infiltrating and mineralizing the enclosing permeable
sedimentary and volcano-sedimentary rocks.
The Tsenken magnetic feature lies 8km from the Kirus magnetic feature, where copper grades of up to 5.4%
with 54g/t silver were obtained, and 12km from Jempe, where grades of up to 3% copper and 47g/t silver
were reported in a press release dated October 4, 2018.
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Figure 1. Map of magnetic data from the Tsenken target showing the location of the high-grade rock
samples. Data for each sample includes the alpha-numeric sample number and grade for copper (“Cu”)
and silver (“Ag”). Magnetic data are illustrated by col our, dark blue being the least magnetic areas and
purple/pink shades being the most intensely magnetic . Rock grab sample positions are shown as yellow
triangles.
Table 1. Copper and silver assays from grab samples of rock in streams in the “Tsenken A” target area.
Sample Number Silver (g/t) Copper (%)
C175938 19.6 7.16
Y003554 45.0 2.63
Y003556 27.8 1.45
Y003557 23.1 1.68
Y003558 45.6 2.65
Y003560 185.0 9.28
Y003561 12.2 0.89
Y003562 23.8 1.46
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Update on Scout Drilling Program
The Company is awaiting one more permit to clear the way for scout drilling of the epithermal gold-silver
target at Crunchy Hill. This permit is within the juri sdiction of the Ministry of the Environment, in which
the new minister was appointed in early-December. Management has met with the new Minister and the
Undersecretary of the Ministry of the Environment and has been assured that the scout drilling permit will
be issued shortly. The selected drill contract company has had its technical staff on site and is ready to
mobilize as soon as the final permit is received for drilling at Crunchy Hill.
Sample Analysis & Quality Assurance / Quality Control (“QAQC”)
The samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, Ecuador. The rock samples
were jaw-crushed to 10 mesh (crushed material p asses through a mesh with ap ertures of 2 millimetres
(“mm”)), from which a one-kilogram sub-sample was taken. The sub-sample was crushed to a grain size
of 0.075mm and a 200 gram (“g”) split was set aside for analysis.
Aurania personnel inserted a certified standard pulp sample , alternating with a field blank, at intervals of
approximately 20 samples in all sample batches.
ALS’s preparation lab in Quito sent the prepared samples to its analytical facility in Lima, Peru for analysis.
Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.
For the over-limit samples, those that had a grade of greater than 1% copper and 100g/t silver, 0.4 grams
of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.
ALS reported that the analyses had passed its internal QAQC tests. In addition, Aurania’s analysis of results
from its QAQC samples showed the batches reported on above, lie within acceptable limits.
Qualified Person
The technical information contained in this news release has been verified and approved by Jean-Paul
Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified
Person as defined by National Instrument 43-101, St andards of Disclosure for Mineral Projects of the
Canadian Securities Administrators.
About Aurania
Aurania is a junior mineral exploration company engaged in the identification, evaluation, acquisition and
exploration of mineral property interests, with a focu s on precious metals and copper. Its flagship asset,
The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the
Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as
well as on Facebook at https://www.facebook.com/aurania ltd/, Twitter at https://twitter.com/auranialtd,
and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
Manager – Investor Services
Aurania Resources Ltd.
(416) 367-3200
Dr. Richard Spencer
President
Aurania Resources Ltd.
(416) 367-3200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Forward-Looking Statements
This news release may contain forward-looking information that involves substantial known and unknown
risks and uncertainties, most of which are beyond th e control of Aurania. Forward-looking statements
include estimates and statements that describe Aurania’s future plans, objectives or goals, including words
to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “be lieves”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward- looking statements are based on assumptions and
address future events and conditions, by their very na ture they involve inherent risks and uncertainties.
Although these statements are based on information cu rrently available to Aura nia, Aurania provides no
assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cau se actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, Aurania’s objectives, goals
or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio,
treasury, management team and enhanced capital mark ets profile, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and estimates of
market conditions. Factors that could cause actual resu lts to differ materially from such forward-looking
information include, but are not limited to, failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to complete a feasibility study which recommends a production
decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain
required governmental, regulatory, environmental or other project approvals, political risks, inability to
fulfill the duty to accommodate indigen ous peoples, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations
in commodity prices, delays in the development of projects, capital and operating costs varying significantly
from estimates and the other risks involved in the mineral exploration and development industry, and those
risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the
assumptions and factors used in preparing the forwar d-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in the disclosed time frames or
at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than as required by law.