Aurania’S Sampling of SEA Bottom Indicates Potential FOR Greater Extent of Nickel at Corsica
TSX-V: ARU
NR 2024-23
AURANIA’S SAMPLING OF SEA BOTTOM INDICATES POTENTIAL FOR GREATER
EXTENT OF NICKEL AT CORSICA
Toronto, Ontario, November 4, 2024 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF;
Frankfurt: 20Q) (“Aurania” or the “Company”) reports that further to its news release dated October 3,
2024, Je an -Paul Pallier, P. Geo., VP Exploration of Aurania, and Stefan Ansermet, Geological Consultant
to Aurania, have completed first pass sea bottom sampling offshore of the Nonza and Albo Beaches, Cap
Corse suggesting that the nickel potential is not confined to the beach alone, but extends significantly
offshore. Using a high-intensity rare earth magnet lowered to the seabed, very abundant black sands were
collected as much as 600 metres offshore of Nonza Beach and up to 300 metres offshore of Albo B each.
The black sands are believed to be composed of awaruite (Ni 3Fe) and magnetite (Fe3O4), and preliminary
analysis of a concentrate of black beach sand at Nonza yielded 40.1% nickel.
LiDAR is a remote sensing technology that penetrates through vegetation and water, producing detailed 3D
images of the Earth’s surface both above and below water. Examination of the black and white Li DAR1
image below (Figure 1), which shows Nonza Beach and the sea bottom immediately to the west of the
beach, indicates a markedly different submarine topography in front of the beach. You can see the
submarine areas to the north and south have an irregular topography which is due to rocky seabed. The
sea bottom west of the beach is mostly smooth; the hollows have been filled in with sand. As demonstrated
by historical air photos (Figure 2), i t is believed that the waste from the historic Canari Mine, which had
filled in the port of Nonza, also filled in and covered the sea bottom at Albo and Nonza Beaches.
One day was spent in reconnaissance sampling of the sea bottom to test this hypothesis (Figures 3 and 4).
A high field strength Sm-Nd magnet was used on the end of fishing line and an innovative reel to retrieve
it was put together from a power drill by Stefan. A total of four samples were collected in front of Albo
Beach and six samples in front of Nonza Beach. In each case, the magnet collected large amounts of
magnetic sand off the sea bottom. Samples of this sand have been sent to ALS Chemex in Seville, Spain ,
for analysis. Since nickel is not present in the magnetite, any nickel in the assays would indicate the
presence of awaruite.
The Company has been in touch with WOKO Magnet - und Anlagenbau GmbH of Duisburg, Germany,
who manufacture a marine electromagnet that possibly could be used to recover the magnetic sand. This
magnet (Figure 5) is used to clean up ordnance from WWII in the sea, and to remove metal trash. We
believe the recovery of sand by this method would have minimal disturbance to the environment. The sand
is obviously already at the surface and is probably a bottom lag, winnowed by the currents so that the heavy
metal grains are preferentially concentrated.
1 The LiDAR data is public access: Coastal altimetry - Litto3D® | Shom
2
Figure 1: LiDAR image of the land and sea bottom topography at Nonza Beach, N. Corsica. The
blue line indicates sea level.
3
Figure 2: Historical air photo on the left and present-day photo on the right, showing the
development and progradation of the Albo and Nonza Beaches over time. The beach material is
believed to be composed of waste from the historic Canari Mine, and also extends up to 600m west
of the shoreline below water.
4
Figure 3: Deployment of the rare earth magnet to the sea bottom to sample for magnetic material.
Figure 4: Two rare earth magnet sea probes, both covered in magnetic black sand.
5
Figure 5: WOKO Magnet- und Anlagenbau GmbH, marine electromagnetic in operation.
Qualified Persons:
The geological information contained in this news release has been verified and approved by Aurania’s VP
Exploration, Mr. 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, Standards of Discl osure
for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and
exploration of mineral property interests, with a focus on precious metals and copper in South America. Its
flagship asset, The Lost Cities – Cutucú 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.sedarplus.ca, as
well as on Facebook at https://www.facebook.com/auranialtd/ , Twitter at https://twitter.com/auranialtd,
and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
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.
Forward-Looking Statements
This news release contains forward -looking information as such term is defined in applicable securities
laws, which relate to future events or future performance and reflect management’s current expectations
and assumptions. The forward- looking information includes Aurania’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has
the potential for economic extraction and processing, the merits and effectiveness of known process and
recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets
6
profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the
Company’s teams being on track ahead of any drill program, the commencement of any drill program and
estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and
are based on assumptions made by and information currently available to Aurania, including the assumption
that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and
approvals will be obtained, including various local government licenses and the market. Investors are
cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks
and uncertainties that may cau se future results to differ materially from those expected. Risk factors that
could cause actual results to differ materially from the results expressed or implied by the forward-looking
information include, among other things: 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 ; the inability to recover and process
mineralization using known mining methods; the presence of deleterious mineralization or the inability to
process mineralization in an environmentally acceptable manner; commodity prices, supply chain
disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to
obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability
to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political
unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental
regulations; a weakening of market and industry reliance on precious metals and base metals ; and those
risks set out in the Company’s publi c documents filed on SEDAR +. Aurania cautions the reader that the
above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors
used in preparing the forward- 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. The Company
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.