Aurania Appoints Senior Advisor and Provides Update ON Awacha Target
TSX-V: ARU
NR 2022-09
AURANIA APPOINTS SENIOR ADVISOR AND PROVIDES UPDATE ON AWACHA TARGET
Toronto, Ontario, April 19, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company ”) is pleased to announce it has appointed Dr . Steve
Garwin as a Senior Technical Advisor and retained him as a Geological Consultant. The Company also
provides an update on initial findings at its Awacha target at its Lost Cities-Cutucu project in south-eastern
Ecuador.
Dr. Steve Garw in, B.Sc, M.Sc, PhD, FAusIMM, FAIG, FSEG, has over 34 years of experience as an
exploration geologist and is one of the leading authorities on porphyry, epithermal and Carlin‐style
mineralization in the circum‐Pacific region and applies methods of structur al geology and geochemistry
towards gold and copper exploration. He has worked with more than 35 exploration and mining companies
in over 20 countries.
He has previously worked with Newmont Mining for ten years, including two years as Chief Geologist in
Nevada, USA. He has been involved with several exploration and mining projects including the Batu Hijau
copper-gold porphyry deposit (where he completed his PhD) , the Indo Muro, Way Linggo and Tembang
epithermal gold‐silver vein systems, and the Mesel sediment‐hosted gold deposit in Indonesia; mines of the
Carlin Trend and Battle Mountain district in Nevada; the Whistler gold-copper porphyry deposit in Alaska;
and the Santa Barbara gold‐porphyry deposit in south-eastern Ecuador.
Dr. Garwin has been instrumental in the discovery of the world-class, Alpala porphyry copper-gold deposit
in the Cascabel project, north-western Ecuador and the implementation of state‐of‐the‐art detailed mapping
and logging strategies for SolGold Plc. He is also part of the team that recently discovered the Porvenir
(Cacharposa) copper-gold porphyry deposit in the Cordillera del Condor in south-eastern Ecuador. He has
played a leading role in the recognition and delineation of the copper-gold-molybdenum porphyry deposits
at Cortadera, Chile. He has been an adjunct research fellow at the Centre for Exploration Targeting at the
University of Western Australia since 2001 and was appointed a visiting fellow at the Research School of
Earth Sciences, Australian National University from 2014 to 2017. Dr. Garwin has authored and co -
authored more than 40 scientific papers and abstracts.
Steve’s initial findings for the Company’s Awacha porphyry target area (Figure 1) indicate:
• Jurassic dioritic sills and dikes hosted by black shale, feldspathic sandstone and meta-basalt.
• A low-grade anomalous copper in soil (> 50 ppm Cu) and rock (> 200 ppm Cu) that extends 7 km
(north-south) by 1-2 km (east-west) through the western part of the prospect.
• Hydrothermal alteration styles that range from chlorite -propylitic in the east to illitic, phyllic
(quartz-sericite) and minor potassic (biotite) in the west.
• PIMA portable infrared spectrometer results indicate abundant illite ( of high-crystallinity) and
some kaolinite in the western part of the area.
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• Discrete magnetic highs and a broad zone of conductivity characterize the Awacha prospect area.
• Hydrothermal a lteration and metal assay results are consistent with the exposure of the
intermediate- to upper-levels of a porphyry system.
Figure 1: Awacha copper in soil > 50 ppm and copper in rock > 200 ppm, shown with mapped geology
and faults. The soil samples are collected along a 200m by 100m grid. Five copper -anomalies are
apparent, indicating the diorite, sandstone, folded black shale and the western magnetic high (geology
yet to be mapped) to be prospective. A recent assay of 2.2% Cu and 0.24% Zn characterizes a
chalcopyrite-bearing stream-boulder of calcite-veined and brecciated sandstone in the south-western
part of the prospect. A previous sample of silicified rock with pyrite veinlets, honey coloured
sphalerite grains, chalcopyrite and covellite, returned 0.2 g/t Au, 0.2 % Cu and 0.9% Zn.
Geological mapping and sampling continue at Awacha, where a chalcopyrite- bearing stream-boulder
recently returned 2.2% Cu. Dr. Garwin will continue to examine and appraise results as they are returned
from the field, as well as review the Company’s portfolio of other porphyry prospects.
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Sample Analysis & Quality Assurance / Quality Control (“QAQC”)
Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador,
and the analyses were done in Vancouver, Canada.
Sample preparation: Soil samples consisted of approximately one kilogram of clay from the iron-rich
“B” horizon at each sample point. The soil samples were dried and subsequently screened through 80
mesh (using screens with apertures of approximately 0.18 millimetres). A 250 gram (“g”) split of the
material that passed through 80 mesh was pulverized to 85% passing 0.075mm and was packaged for
shipment to the analytical facility.
The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures 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.
Analytical procedure: A 0.5g split of the -0.075mm fraction of soil samples underwent digestion with
aqua regia, and the liquid was analyzed for 48 elements by ICP-MS. Apart from being analyzed by ICP-
MS, gold was also analyzed by fire assay with an ICP-AES finish.
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, zinc and lead, 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.
QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at
approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent
QAQC samples showed the batches reported on above, lie within acceptable limits. In addition, the labs
reported that the analyses had passed their internal QAQC tests.
Qualified Person
The geological 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, Standards of Disclosure 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 – 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 http s://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 Investor Relations
Aurania Resources Ltd.
(416) 367-3200
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 the control of Aurania. Forward -looking statements
include estimates and statements that describe Aurania’s future plans, objectives or goals, including words
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Although these statements are based on i nformation currently available to Aurania, Aurania provides no
assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause 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, statemen ts, exploration results, potential mineralization, the corporation’s portfolio,
treasury, management team and enhanced capital markets profile, the estimation of mineral resources,
exploration, timing of the commencement of operations and estimates of mark et conditions. Factors that
could cause actual results 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, politic al risks, inability to fulfill the duty to accommodate
indigenous 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 pr ices, 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, the effects of COVID-19 on the
business of the Company including but not limited to the effects of COVID-19 on the price of commodities,
capital market conditions, restrictions on labour and international travel and supply chains, 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 forward- looking information in this news release are reasonable, undue
reliance should not be placed on such information, which on ly 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.