Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) announced in a news release it chose drill targets to test the high-grade silver zones of the Tiria-Shimpia silver-gold target at its Lost Cities–Cutucu project in Ecuador.
"Intensive geological mapping in the region of Tiria-Shimpia as well as a compilation of the geological work of all the exploration teams along the 15 kilometre trend is indicating that the mineralization is not a simple vein system as previously thought, but is following both fault zones and the sedimentary layering of the host rock. It appears to be a vein-manto type of environment where silver, zinc, lead and epithermal pathfinders have travelled upwards through faults and then spread laterally along the horizons, replacing limestone," said Aurania Chairman and CEO Dr. Keith Barron in the release.
"The best way to explain it is that these are crumpled sheets of mineralized limestone, with vertical feeders, potentially with a width of up to 3 kilometers (3 km) and a trend of up to 15 km," Barron continued.
The company selected drill sites to test two outcrops on the northwestern margin, which showed high-grade silver.
"Silver values in soil samples suggest that the two outcrops are connected beneath soil cover—a concept that will be tested in the planned drill program. In fact, the area of enrichment in soil continues well beyond the two outcrops, extending over an area 3 km long, in which scattered outcrops range in grade from 1.4 to 356g/t silver with 1 to 22% zinc. The Tiria-Shimpia target contains six other extensive zones of silver enrichment in soil that are being investigated through the construction of detailed geological profiles," the company noted.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Aurania Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
