Aurania Resources Ltd. (ARU: TSX-V; Frankfurt: 20Q; OTCQB: AUIAF) is focused on exploration for epithermal gold and porphyry copper deposits in the Jurassic Metallogenic Belt of southeastern Ecuador – an area that is home to the Shuar indigenous people. The 2,080 km2 Lost Cities – Cutucu Project was staked over the approximate location of two colonial Spanish gold mines that operated for about 40 years from the mid-1500’s. The location of the two “Lost Cities” was estimated from the study of hundreds of historic records in South American, Spanish and Vatican libraries. This project area has not been systematically explored since the cessation of the Spanish mining operations.
The Cordillera de Cutucu – the area in which the historic mines are believed to lie – forms the geological extension of the Cordillera del Condor where Aurania’s Chairman and CEO, Dr. Keith Barron and his team found the Fruta del Norte gold deposit in 2006 and President, Dr. Richard Spencer and his team discovered the Mirador, San Carlos and Panantza porphyry copper deposits between 1994 and 1997.
Building on social license, targets were defined through the integration of various data sets. Magnetic and radiometric data recently acquired over the project, forms a coherent base layer on which stratigraphic and structural mapping from satellite imagery are overlain, along with stream sediment geochemical data. Multiple precious metal epithermal targets, supported by blocks of high-level sinter, have been identified. Multiple porphyry targets are characterised by magnetic features and coincident stream sediment anomalies. Work is now focusing on preparing priority targets for initial scout-drilling in late 2018 with results expected in 2019.