Aurania Resources (AUIAF) – Setting Up for the 2025 Drilling Program

Monday, November 04, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Kuri-Yawi geophysical survey. Aurania commenced an induced polarization (IP) geophysical survey over its Kuri-Yawi gold target where the discovery of numerous sinters in 2018 revealed the area to be highly prospective for epithermal gold mineralization. Kuri-Yawi is the most advanced epithermal target at the company’s Lost Cities-Cutucu project in southeastern Ecuador and may represent the quickest path for a successful outcome based on work that has already been completed, along with easy access. In 2020 and 2021, nine scout holes were drilled that indicated a vector to mineralization toward the northeast which is the focus of the IP survey.

Preparing for the 2025 drilling program. The IP survey is designed to identify deep conductors that could correspond to gold mineralization, and to target drill holes for the planned program in 2025. The IP survey is expected to be completed by mid-December 2024, with results expected in early 2025 following a review and interpretation of the data.

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