Aurania Confirms Extension of Silver-GOLD Target IN Ecuador
TSX-V: ARU
NR 2020-31
AURANIA CONFIRMS EXTENSION OF SILVER-GOLD TARGET IN ECUADOR
Toronto, Ontario, September 25, 2020 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) reports that while the scout drilling program at the
Tsenken N2 copper target is ongoing, other exploration teams have discovered extensions to the areas of
silver enrichment in soil previously reported from the Tiria-Shimpia silver-gold target over a cumulative
length of 15 kilometres (“km”). Tiria-Shimpia is on the short-list for scout drilling when the program at
Tsenken has been completed.
Dr. Keith Barron, Chairman and CEO of Aurania commented, “ Tiria-Shimpia is
shaping up to be one of many compelling targets in Aurania’s portfolio. Soil sampling
has defined four main zones of silver enrichment that total 1 5 km in length. We’re
excited about this target area because the silver zone lies in the central part of a far
larger mineralized system that, itself, lies on the flank of the biggest magnetic feature
of our entire geophysical survey (Figure 1). Gold is slightly enriched adjacent to silver
in some parts of the mineralized system – and those areas will be investigated as specific
gold-silver targets, while most of the silver occurs with zinc, lead and barium. We
expect the roots of the mineralization to be a system of veins from which mineralization
likely seeped into the layering of the limestone host rock to form flat-lying “mantos”.
Our plan is to refine the targets with additional field work during which time the scout
drilling program for Tiria-Shimpia will be planned.”
Tiria-Shimpia Target
Soil sampling at the Tiria-Shimpia target has defined a large mineralized system that covers an area 75
square kilometres in extent – and is still open along trend - on the margin of a large, intensely magnetic
feature that is interpreted to be a porphyry cluster. The silver zone lies in the central part of a more extensive
area of enrichment of lead and zinc with epithermal pathfinder elements such as antimony, mercury,
selenium, thallium and arsenic (Figure 1). Minor enrichment of gold occurs with, or close to, some of the
silver-rich areas. Previous announcements about Tiria-Shimpia can be found in Aurania’s press releases
dated February 5, 2020, September 9, 2019 and November 29, 2018.
Rock-chip samples from boulders had grades of up to 710g/t silver and 48% zinc, while the highest grade
samples from outcrop were 356g/t silver with 12.7% zinc and 11% lead (see press release dated September
9, 2019) and a subsequent sample with 199g/t silver, 22% zinc and 20.6% lead. Epithermal-type pathfinder
elements of naturally-occurring arsenic, mercury, antimony, thallium and selenium lie along the same fault
structures as the silver, zinc and lead.
Aurania’s exploration of the Tiria-Shimpia target is guided by its likeness to the silver -lead-zinc deposits
of the Colquijirca district in Peru that contains the Cerro de Pasco deposit that was mined for silver by the
Colonial Spanish from the year 1630 onwards.
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Figure 1. Distribution of silver and gold plotted on an image of magnetic data (negat ive reduction to the
equator) with antimony, selenium, thallium, zinc and naturally -occurring mercury and arsenic shown
relative to the fault system in the Tiria-Shimpia target area.
Next Steps
Despite the large size of the target area at Tiria- Shimpia, regional exploration in adjacent areas suggests
that the system is larger and soil sampling will be done to refine those potential extensions. In addition,
grid soil sampling will be done to further refine existing target areas so that scout drilling can be efficiently
planned.
Sample Analysis & Quality Assurance / Quality Control (“QAQC”)
Laboratories: The soil samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, or at
MS Analytical (“MSA”) in Cuenca, Ecuador . Analysis by ALS wa s done in Lima, Peru, and MSA
conducted their analyses in Vancouver, Canada.
Sample preparation: Soil samples consisted of approximately one kilogram of clay from the iron-rich “B”
horizon at each sample p oint. 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.
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.
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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 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, 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 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 – Investor Services
Aurania Resources Ltd.
(416) 367-3200
Dr. Richard Spencer
President
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
to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking
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Although these statements are based on information currently availabl e 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
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Forward looking information in this news release includes, but is not limited to, Aurania’s objectives, goals
or future plans, statements, exploration results, pot ential mineralization, the corporation’s portfolio,
treasury, management team and enhanced capital markets 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 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
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decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain
required governmental, regulatory, environmental or other project approvals, politica l 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 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 SE DAR. 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 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.