Aurania Defines Porphyry Drill Targets at Tatasham in Ecuador

The Anaconda mapping at Tatasham took place over an area of three-square kilometres (“km”) where the soil geochemistry anomalies coincided with the magnetic high. In parallel, IR spectrometry (Terraspec) was conducted on a selection of rock samples collected during the mapping program. Magnetic data collected during the 2017 airborne survey on the Project was merged with the data collected during the MMT survey that was flown interpolated between the 2017 survey lines.  The interpretation of the combined data has resulted in a new magnetic inversion that is more accurate than the previous version.

The magnetic inversion shows the presence of a low magnetic area lying within the major high magnetic anomaly.  This low magnetic is interpreted to be a classic de-magnetization of the rock by hydrothermal alteration related to the core of a porphyry system. The IR spectrometry (Terraspec) study shows the presence of hydrothermal alteration zones characterized by illite over the magnetic low anomaly that extends in the west part along a major N-trending ridge, which is inferred to represent a regional structure. Mapped zones of elevated fracture abundance and silicification are coinciding with the illite alteration zone (see fig. 1). Mapping also highlighted a central region of elevated goethite / hematite ratios, which is inferred to represent the oxidation of rocks with elevated chalcopyrite / pyrite ratios (see fig. 2). 

The data was reviewed by Senior Technical Advisor, Dr. Steven Garwin, together with Aurania’s exploration team to define specific target areas for the upcoming drill program planned at Tatasham.  The target areas of interest are distributed over 3.5 km along the anomalous N-trending ridge and are planned to test the following:

• The middle part of a zone of interest, characterized by northerly-trending, illite- and silica-alteration zones, elevated goethite / hematite and a magnetic high and adjacent magnetic low;
• An area beneath an outcrop of NE-trending, sheeted quartz veins that lie along the southern margin of a magnetic high; and
• The northern extent of the mapped illite alteration zone which is also a major MMT conductive zone.

The planned program at Tatasham is an iterative process and will be subject to change as drilling progresses.

Qualified Person

The geological 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 Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

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