Aurania Finds First Evidence of Porphyry-Style Alteration Related to a Geophysical Target IN Its Lost Cities – Cutucu Project, Ecuador
TSX-V: ARU
NR 2018-09
AURANIA FINDS FIRST EVIDENCE OF PORPHYRY-STYLE ALTERATION RELATED TO
A GEOPHYSICAL TARGET IN ITS LOST CITIES – CUTUCU PROJECT, ECUADOR
Toronto, Ontario, March 15, 2018 – Aurania Resources Ltd. (TSX -V: ARU) (“Aurania” or the
“Company”) is pleased to report that field work confirms that the Awacha geophysical Target Cluster also
has geological and geochemical features that are typical of porphyry systems. This finding is significant
because it supports the contention that Aurania’s project area likely contains porphyry deposits similar to
the copper and copper-gold deposits of the adjacent Cordillera del Condor.
Aurania’s President, Dr. Richard Spencer commented, “We are using the same stream sediment sampling
technique in our Lost Cities – Cutucu Project (the “Project”) that was instrumental in the mid -1990’s
discovery of large porphyry copper and copper-gold deposits located just a few tens of kilometres south of
our property boundary. Aurania’s airborne magnetometer survey detected a cluster of magnetic features
that we believe are the buried magnetic cores of porphyries, and our exploration team recently discovered
surface rock exposures of quartz-sericite-pyrite (“QSP”) which represents an alteration shell that would
typically enclose porphyry-style mineralization. This type of alteration further suggests that the target lies
at a reasonabl y shallow depth. Since n umerous similar magnetic features have been identified by the
geophysical survey elsewhere across the Project, we are now more confident of the potential for these to be
due to porphyry bodies as well”.
Awacha Target
The Awacha Target Cluster has been extended to include 13 magnetic cen tres, three more than were
described in Aurania’s press release dated December 6, 2017 (http://www.aurania.com/aurania-reports-
first-target-defined-geophysics-program-lost-cities-cutucu-project-ecuador/). Each centre is similar in size
and intensity to magnetic features related to drilled and confirmed porphyry deposits along the geological
trend, in the adjacent Cordillera del Condor. The closest porphyry that has a NI 43-101 copper resource is
the Warintza Deposit, located 25 kilometres from the southwestern corner of the Project. The Warintza
and Panantza copper deposits are the northernmost in a 150km-long chain of porphyry deposits that hosts
more than 34 billion pounds of copper.
Initial stream sediment sampling over p art of the Awacha cluster of magnetic targets identified
molybdenum enrichment over the Awacha A Target and molybdenum, arsenic and slight copper enrichment
over the Awacha B geophysical feature. Molybdenum is a key pathfinder element for porphyry deposit s
and arsenic typically occurs in the upper part of porphyry systems in association with quartz-sericite-pyrite
alteration. Copper and gold typically are concentrated in the magnetic core that lies beneath the quartz-
sericite-pyrite alteration zone.
Next Steps
With Awacha having provided the first confirmation of porphyry-style alteration over a magnetic feature,
field teams are now working on other conspicuous geophysical features in the Project area. The field teams
are sampling silt in streams in these target areas, while a second group of geologists is mapping geology
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and alteration patterns to confirm and refine these target areas for more intense rock-chip and soil sampling.
The objective is to work up targets for scout drilling later this year. Our expectation is that the first phase
of scout drilling will be done on epithermal gold-silver targets, such as the Latorre Target described in prior
press releases (eg. February 28, 2018 http://www.aurania.com/aurania-expands-footprint-latorre-
epithermal-target-lost-cities-cutucu-project-ecuador/), and some on porphyry copper and copper -gold
targets.
Technical Disclosure
The technical information contained in this pres s release has been verified and approved by Jean -Paul
Pallier, MSc., a EurGeol designated by the European Federation of Geologists. Mr. Pallier is a Qualified
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Person as defined by National Instrument 43- 101, Standards of Disclosure for Mineral Projects of the
Canadian Securities Administrators.
About Aurania
Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and
exploration of mineral property interests, with a focus 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/auranialtd/, Twitter at https://twitter.com/auranialtd,
and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Dr. Richard Spencer
President
Aurania Resources Ltd.
(416) 367-3200
Carolyn Muir
Manager, Investor Services
Aurania Resources Ltd.
(416) 367-3200
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-
V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains 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
statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward- looking statements are bas ed on assumptions and
address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information 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 corporate
objectives, goals or future plans, statements, exploration results, potential 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 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 accommo date certain 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 project s, 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 forward-looking information in this
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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.