Further Exploration Defines Additional GOLD-Silver Targets at Aurania’S Lost Cities Project Indication of Large Mineralized System
TSX-V: ARU
NR 2019-22
FURTHER EXPLORATION DEFINES ADDITIONAL GOLD-SILVER TARGETS AT
AURANIA’S LOST CITIES PROJECT
INDICATION OF LARGE MINERALIZED SYSTEM
Toronto, Ontario, September 09, 2019 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF)
(Frankfurt: 20Q) (“Aurania” or the “Company”) reports that follow-up exploration is defining
additional, extensive epithermal targets for gold and silver at the Tiria target area on the flanks of a 15
kilometre (“km”) trend of silver-zinc-lead mineralization at its Lost Cities – Cutucu Project (“Project”) in
Ecuador. The Tiria epithermal target was originally described as ‘Tiria East’ and ‘Tiria West’ (see press
release dated November 29, 2018). T he Company has now identified four separate targets within the
extensive Tiria target area. These targets lie on the margins of a core of silver-zinc-lead, providing strong
indications of a large mineralized system.
Aurania’s Chairman and CEO , Dr. Keith Barron, commented, “We continue to build our portfolio of
epithermal targets, which currently sits at 20 targets, in our search for the next Fruta del Norte. The way in
which the Tiria targets for gold-silver are arranged around a corridor of silver -zinc-lead, suggests that we
are looking at a large and coherent mineralized system. We believe that the silver, zinc and lead
accumulated in the hotter core in the centre of the system and that gold and silver precipitated at the cooler
margins. I’m impressed by the grades in the core target area and I believe that w e are likely to be in a
position to joint venture the silver-zinc-lead target shortly.”
Tiria Targets
Four separate target areas have been identified through the presence of blocks of various types of silica that
exhibit characteristics of epithermal sys tems, such as chalcedony veins and hydrothermal breccia. The
Tiria targets have a combined length of approximately 20km and two of the targets are up to 3km wide
(Figure 1). Initial r idge-and-spur soil sampling has identified north - to northwest -trending areas of
enrichment in pathfinder elements for epithermal systems, such as naturally occurring antimony and
mercury. Silver distribution in soil is an invaluable exploration tool in this area since it occurs in both the
epithermal environment and the zinc-lead target. These corridors of silver and pathfinder enrichment will
be the focus of further exploration for epithermal gold-silver.
Shimpia Target
High-grade silver (up to 325 grams per tonne (“g/t”)) with high -grade zinc and lead were reported in
Aurania’s first press release on the Shimpia target on November 29, 2018. Further e xploration has
encountered even higher grades, with up to 710g/t silver, 42% zinc and 9.2% lead in boulders in streams
(Table 1). A major step forward was the discovery of a 300m long area of breccia in carbonate host-rock
– the highest -grade sample from which contains 356g/t silver, 12.7% zinc and 11% lead. The breccia
contains abundant sphalerite (zinc sulphide) and galena (lead sulphide). The silver is not identifiable as a
separate mineral and is suspected to occur within galena.
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Regional Context
The current exploration concept i s that the conspicuous magnetic zone at Jempe, interpreted as a buried
porphyry with copper potential , is genetically related to the silver -zinc-lead zone at Shimpia, that then
evolves outward and upward into the Tiria epithermal targets for gold and silver . Magnetic data from the
heliborne survey flown by Aurania shows that these targets are linked by faults that provided conduits along
which the metal -bearing fluids first deposited copper, followed by silver -zinc-lead, finally emerging at
surface to form the silica terraces that represent the four epithermal targets at Shimpia (Figure 2).
Table 1: Selected analytical results for outcrop and boulder samples from the Shimpia target.
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Figure 1. Map of the Shimpia - Tiria targets showing the location & grade of samples of rock (grab
samples from boulders in streams) and outcrop with the distribution of silver and pathfinder elements,
antimony and mercury, in ridge-and-spur soil samples.
Next Steps
Further exploration will focus on the corridors of enrichment of pathfinder elements and silver in the
epithermal target areas with the aim of advancing them toward scout drilling. This work will include
additional soil sampling, geological mapping and detailed alteration mineral analysi s of soil and rock
samples. Induced polarization geophysical surveys may also be considered as a means of imaging silica -
rich features such as veins, as well as sulphide minerals at depth. The silver-zinc-lead mineralization is not
core to Aurania and is likely to be made available to interested parties for joint venture.
Update on Drilling at Yawi
The water-use permit has been obtained for the scout drilling at Yawi and final preparations are underway
for the program which is expected to commence on the first of four targets later in September.
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Figure 2. Map showing the Jempe porphyry target, p otentially the source of metals that first deposits
copper-silver in sedimentary rocks, followed by silver-zinc-lead as the metal -bearing fluids cool, and
finally epithermal gold-silver as the fluids cool further. The way in which the Tiria targets for gold-silver
are arranged around the silver-zinc-lead zone in the centre, suggests that we are looking at a large and
coherent mineralized system.
Sample Analysis & Quality Assurance / Quality Control (“QAQC”)
Laboratories: The samples were prepared for analysis at ALS Global’s (“ALS”) lab in Quito, or at MS
Analytical (“MSA”) in Cuenca, Ecuador. Analysis by ALS was 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.
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 200g split was set aside for analysis.
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Analytical procedure: A 0.5g split of the -0.075mm fraction of soil samples underwent digestion with
aqua regia , and rock samples by four-acids, and the liquid was analyzed for 48 elements by ICP -MS.
Samples that had lead and zinc grades of greater than 1%, and silver grades of over 100g/t underwent a
second analysis in which 0.4 grams of pulp was digested in a mixture of four acids and the resulting liquid
was diluted and analyzed by ICP-MS. Apart from being analyzed by ICP-MS, gold was also analyzed by
fire assay with an ICP-AES finish.
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 app roved 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 junior mineral exploration 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:
Carolyn Muir
Manager – Investor Services
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.
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 available to Aurania, Aurani a provides no
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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, potential mineralizatio n, the corporation’s portfolio,
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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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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 SEDAR. Although Aurani a 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.