Aurania Reports High-Grade Copper-Silver at Another Target IN Ecuador
TSX-V: ARU
NR 2020-24
AURANIA REPORTS HIGH-GRADE COPPER-SILVER AT ANOTHER TARGET IN
ECUADOR
Toronto, Ontario, July 21, 2020 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to report that grades of up to 10% copper
with 131 grams per tonne (“g/t”) silver have been found in a breccia in the Tsenken A target area in its Lost
Cities – Cutucu Project (“Project”) in southeastern Ecuador. Tsenken A is located approximately 2
kilometres from the Tsenken N1 target reported on last week (Figure 1 and see press release dated July 16,
2020). These latest results provide key information about sedimentary-hosted copper-silver at the Tsenken
A target.
Dr. Keith Barron, Chairman and CEO of Aurania commented, “ As has been previously discussed by
sedimentary copper expert Professor Gregor Borg, sedimentary hosted copper-silver has not previously
been found in close proximity to porphyries in any of the recognized copper camps internationally. Our
Project is clearly something different and potentially important, but the relationship to porphyry and the
geometry will ultimately be determined by drilling, which we intend to initiate in the 3rd quarter of this year.
Sedimentary-hosted copper-silver has been found regionally within the Aurania concessions over an extent
of 23 kilometres and is almost always associated with carbon -bearing shales and sandstones full of plant
fossils. It is conceivable that steeply -dipping faults were conduits for metal-bearing fluids coming from
depth. In many geological scenarios the thickest and highest-grade portions of systems are areas of greatest
focussed fluid flow, and these are potentially attractive targets in a broader regional context.”
To view the previously released video with Professor Gregor Borg, click on the following link:
http://aurania.com/the-opportunity-a-copper-experts-opinion-2/
Fault-related Mineralization at Tsenken A
A rock -chip sample from a fault breccia outcrop assayed 10% copper with 131g/t silver. High- grade
copper-silver has been found in blocks in streams and in outcrop over a large area in the Tsenken A target
area. Results have been reported in press releases dated January 10, 2019 and April 2, 2019, with additional
assays shown in Figure 1. Mineralization occurs in bleached layers in the red sandstone host rock, and
invariably is with carbonized, fossilized plant fragments. Copper minerals include malachite, chrysocolla
and tenorite with minor chalcocite.
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Figure 1. Location of fault breccia and sedimentary-hosted mineralization of high -grade copper -silver from the
Tsenken A target area shown on a background of magnetic data (negative reduction to the equator, which is roughly
equivalent to reduction to the pole (“RTP”)).
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Figure 2. An idealized vertical slice through southern Ecuador and northern Peru showing the red -bed sandstones
that accumulated against faults that were forming approximately 160 million years ago (constituting the Chapiza -
Saraquillo Formations). The exploration model includes copper -silver – bearing fluid rising up the faults (which are
mineralized) and seeping into permeable sedimentary layers, preferably where they are sealed by an overlying
impermeable layer such as shale. Carbon within the permeable layers causes copper and silver to precipitate.
Sample Analysis & Quality Assurance / Quality Control (“QAQC”)
Laboratories: The soil samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador,
and the analyses were done in Vancouver, Canada.
Sample preparation: 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: 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.
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 is a
Qualified Person as defined by Nationa l 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 h ttps://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
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 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 based 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 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
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, 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
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.