Aurania Finds New Epithermal Target: Gold Found In Streams

 

Toronto, Ontario, May 04, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on a new epithermal target called Kuripan in its Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.  Gold has been panned from streams that drain the target area.

The streams where gold was panned drain an area in which silica veinlets that have typical epithermal characteristics, occur in volcanic tuff.  Results from stream sediment sampling show that, in addition to gold and silver, the area is enriched in pathfinder elements such as naturally occurring arsenic and antimony.

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “After focusing on our silver-zinc discovery in the last few press releases, I’m very pleased to report that we have an exciting new target where we’ve been able to pan gold from streams draining an area that has an epithermal signature.  Furthermore, indications from the field are that this is an “intermediate-sulphidation” epithermal system – the same type of mineralization as Lundin Gold’s Fruta del Norte mine 100 kilometres to the south of us in the Cordillera del Condor.”

Geological Details of the Kuripan Target

Gold was panned from streams over an area of approximately 12 square kilometres (Figure 1).  Pan concentrates returned values of up to 1 gram per tonne (“g/t”) and the gold grains have an irregular shape consistent with a local source (Figure 2).  Stream sediment sample results have elevated concentrations of silver, arsenic and antimony (Figure 1), and mercury, molybdenum, selenium and thallium.

The target area lies within a sequence of black shales and siltstones of the Jurassic Santiago Formation.  These strata are extensively silicified in the target area and some chalcedonic silica contains casts of adularia (Figure 2), a key alteration mineral found in low- and intermediate- sulphidation epithermal systems.  Banded chalcedonic veinlets are located in volcanic tuff, which is not an ideal host for epithermal veins because the rock is not sufficiently brittle for intense veining to occur.  The target for well-developed epithermal veins is the thick lavas beneath the area in which gold occurs at surface.

A clay-altered diatreme breccia is located near the target area and near where the adularia casts were found (Figure 1). The diatreme is reminiscent of the lower parts of the maar-diatreme systems at Crunchy Hill and Yawi.

The occurrence of adularia with extensive manganese oxide staining suggests that the mineralized system is an intermediate-sulphidation epithermal.

Next Steps

Soil sampling teams are operating in the Kuripan area – the intention being to define the area from which the gold is being eroded into the streams.  More detailed geological mapping is underway to refine the target with emphasis on the distribution of brittle lavas that lie beneath the target area.

 

Figure 1.  a. Plan view of distribution of gold values in pan concentrate samples in the Kuripan target area.  Also shown is the location of silica with casts of adularia. b. Distribution of silver in stream sediment samples. c. Distribution of naturally occurring arsenic in stream sediment samples. d. Distribution of antimony in stream sediment samples.

 

Figure 2.  a. Field guide panning in the Kuripan target area.  b. Gold grains from one of the sample sites in a wooden pan. c. Chalcedonic silica from a banded vein. d. Casts of weathered-out adularia crystals evident in chalcedonic silica.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”) 

Laboratories: The stream and pan concentrate samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The pan concentrate 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 200-gram (“g”) split was set aside for analysis.

The stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.  The samples were transported from the field to Aurania’s field office in Macas, Ecuador and batched for delivery to at MSA in Cuenca, for drying and screening at 80 mesh (0.18mm sieve aperture).  The -80 mesh silt was packaged by MSA for analysis.

Analytical procedure:  Approximately 0.25g of pan concentrate pulp or -80# soil underwent four-acid digestion and analysis for 48 elements by ICP-MS.

Stream sediment: a 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 48 elements 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 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 Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

Dr. Richard Spencer President Aurania Resources Ltd. (416) 367-3200 richard.spencer@aurania.com

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 statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, 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 decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations 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, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania 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.

Aurania Finds New Epithermal Target: Gold Found In Streams

 

Toronto, Ontario, May 04, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on a new epithermal target called Kuripan in its Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.  Gold has been panned from streams that drain the target area.

The streams where gold was panned drain an area in which silica veinlets that have typical epithermal characteristics, occur in volcanic tuff.  Results from stream sediment sampling show that, in addition to gold and silver, the area is enriched in pathfinder elements such as naturally occurring arsenic and antimony.

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “After focusing on our silver-zinc discovery in the last few press releases, I’m very pleased to report that we have an exciting new target where we’ve been able to pan gold from streams draining an area that has an epithermal signature.  Furthermore, indications from the field are that this is an “intermediate-sulphidation” epithermal system – the same type of mineralization as Lundin Gold’s Fruta del Norte mine 100 kilometres to the south of us in the Cordillera del Condor.”

Geological Details of the Kuripan Target

Gold was panned from streams over an area of approximately 12 square kilometres (Figure 1).  Pan concentrates returned values of up to 1 gram per tonne (“g/t”) and the gold grains have an irregular shape consistent with a local source (Figure 2).  Stream sediment sample results have elevated concentrations of silver, arsenic and antimony (Figure 1), and mercury, molybdenum, selenium and thallium.

The target area lies within a sequence of black shales and siltstones of the Jurassic Santiago Formation.  These strata are extensively silicified in the target area and some chalcedonic silica contains casts of adularia (Figure 2), a key alteration mineral found in low- and intermediate- sulphidation epithermal systems.  Banded chalcedonic veinlets are located in volcanic tuff, which is not an ideal host for epithermal veins because the rock is not sufficiently brittle for intense veining to occur.  The target for well-developed epithermal veins is the thick lavas beneath the area in which gold occurs at surface.

A clay-altered diatreme breccia is located near the target area and near where the adularia casts were found (Figure 1). The diatreme is reminiscent of the lower parts of the maar-diatreme systems at Crunchy Hill and Yawi.

The occurrence of adularia with extensive manganese oxide staining suggests that the mineralized system is an intermediate-sulphidation epithermal.

Next Steps

Soil sampling teams are operating in the Kuripan area – the intention being to define the area from which the gold is being eroded into the streams.  More detailed geological mapping is underway to refine the target with emphasis on the distribution of brittle lavas that lie beneath the target area.

 

Figure 1.  a. Plan view of distribution of gold values in pan concentrate samples in the Kuripan target area.  Also shown is the location of silica with casts of adularia. b. Distribution of silver in stream sediment samples. c. Distribution of naturally occurring arsenic in stream sediment samples. d. Distribution of antimony in stream sediment samples.

 

Figure 2.  a. Field guide panning in the Kuripan target area.  b. Gold grains from one of the sample sites in a wooden pan. c. Chalcedonic silica from a banded vein. d. Casts of weathered-out adularia crystals evident in chalcedonic silica.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”) 

Laboratories: The stream and pan concentrate samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The pan concentrate 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 200-gram (“g”) split was set aside for analysis.

The stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.  The samples were transported from the field to Aurania’s field office in Macas, Ecuador and batched for delivery to at MSA in Cuenca, for drying and screening at 80 mesh (0.18mm sieve aperture).  The -80 mesh silt was packaged by MSA for analysis.

Analytical procedure:  Approximately 0.25g of pan concentrate pulp or -80# soil underwent four-acid digestion and analysis for 48 elements by ICP-MS.

Stream sediment: a 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 48 elements 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 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 Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

Dr. Richard Spencer President Aurania Resources Ltd. (416) 367-3200 richard.spencer@aurania.com

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 statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, 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 decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations 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, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania 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.

Golden Predator Mining Corp. Announces Termination of Arrangement Agreement with Viva Gold Corp

 

VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) (“Golden Predator“) announces that the Company and Viva Gold Corp. (“Viva Gold”) have mutually agreed to terminate the arrangement agreement dated March 2, 2021 for the proposed acquisition of all of the issued and outstanding shares of Viva Gold by Golden Predator. Golden Predator also advises, regardless of the terminated Agreement with Viva Gold, Golden Predator will proceed with its plans to distribute 8,620,000 common shares of C2C Gold Corp. to shareholders of record of Golden Predator Mining Corp. by way of a return of capital transaction. A date of record will be announced.

Golden Predator will continue to focus on advancing its Brewery Creek project in the Yukon through the permitting renewal process. The Company is working with the Yukon Department of Energy, Mines and Resources, and the Yukon Water Board to renew its mining and water use licenses, with the ongoing support of the Tr’ondek Hwech’in First Nation.

ABOUT GOLDEN PREDATOR MINING CORP.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km² brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: www.goldenpredator.com.

FOR ADDITIONAL INFORMATION:

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Golden Predator Mining Corp. Announces Termination of Arrangement Agreement with Viva Gold Corp

 

VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) (“Golden Predator“) announces that the Company and Viva Gold Corp. (“Viva Gold”) have mutually agreed to terminate the arrangement agreement dated March 2, 2021 for the proposed acquisition of all of the issued and outstanding shares of Viva Gold by Golden Predator. Golden Predator also advises, regardless of the terminated Agreement with Viva Gold, Golden Predator will proceed with its plans to distribute 8,620,000 common shares of C2C Gold Corp. to shareholders of record of Golden Predator Mining Corp. by way of a return of capital transaction. A date of record will be announced.

Golden Predator will continue to focus on advancing its Brewery Creek project in the Yukon through the permitting renewal process. The Company is working with the Yukon Department of Energy, Mines and Resources, and the Yukon Water Board to renew its mining and water use licenses, with the ongoing support of the Tr’ondek Hwech’in First Nation.

ABOUT GOLDEN PREDATOR MINING CORP.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km² brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: www.goldenpredator.com.

FOR ADDITIONAL INFORMATION:

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Monday, May 03, 2021

Aurania Resources (AUIAF)(ARU:CA)
Tiria-Shimpia Increasing in Potential as a Target

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining 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 in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Management provides an update. On April 27, management hosted a conference call for investors to update them on the progress at the Lost Cities project. A replay is available on Aurania’s website. The company has two drills operating, including at the Kuri-Yawi epithermal gold and porphyry copper target and the Tsenken N1 copper-silver target. Management indicated that stream sediment sampling and regional exploration had identified two new target areas, including a new area of silver-zinc called Shimpia North.


Encouraging grab sample results.  Shimpia North is an extension of the high-grade silver-zinc-lead mineralization at Tiria-Shimpia and increases the length of the Tiria-Shimpia target to 22 kilometers from 15 kilometers. During the initial reconnaissance exploration in this new area, the Shimpia target yielded promising results from six grab samples, including from both outcrop and boulders …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Aurania Confirms New Discovery That Extends Tiria-Shimpia to 22km

Toronto, Ontario, April 30, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on the discovery of Shimpia North, an area in which elevated metal values have been found in streams draining a ridge that is seven kilometres (“km”) long.  Shimpia North is an extension to the high-grade silver-zinc-lead mineralization at Tiria-Shimpia in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.  Shimpia North extends the Tiria-Shimpia target from 15 km to a total length of 22 km.

Outcropping mineralization in the first reconnaissance exploration in this new area gave a grade of 40 grams per tonne (“g/t”) silver in an extensively weathered gossan (iron-rich residue that remains after intense weathering of sulphide-rich rock) and, among other samples, a boulder of barite in a stream returned 19g/t silver, 6.5% lead and 1.1% zinc.

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “Shimpia North appears to have the same character, style and mineralization type as Tiria-Shimpia, though it is displaced to the northwest.  I consider it to be part of the same system. This may be the distal expression of the copper/silver -in-sediment system we have traced further to the south across country for 23 kilometres.  In any case, the Cutucu is proving to be a rare case of a metal-rich basin, that though uplifted and exposed has appeared to not be eroded to significant extent.  The siliceous sinters we find at Kuri-Yawi are evidence of the original land surface in the Jurassic, when we expect the mineralizing event took place.  What I find astounding is that Cretaceous and younger cover rocks have been stripped off to just the right erosional level to expose mineralization.  Otherwise, we would never have guessed it was there.  Equally significant, our very large land parcel has allowed us to piece this story together.  If we had had a postage stamp type parcel, we never would have guessed the magnitude of these mineralizing systems.  Serendipity has worked in our favour.”

Rock-chip and stream sediment sampling that highlights the extent of the mineralized zone, corresponds closely with high potassium detected in radiometric data from the Company’s geophysical survey completed in 2017.  The potassium enrichment feature extends approximately 10 km beyond the area investigated so far (Figure 1), providing an invaluable exploration guide to finding possible further extensions of the mineralized system.  Though it is not yet confirmed, it is believed the potassium mineral is langbeinite, a potassium magnesium sulphate which could potentially occur with the other sulphates like barite, celestite, or gypsum.  The Company has commenced selection of drill sites at the Tiria-Shimpia target area and expects to begin drilling in this quarter.

Geological Details of the Area Sampled at Shimpia North

The mineralization is sediment-hosted, found parallel to the sedimentary layering in limestone intercalated with sandstone.   Hard rock samples contain galena (lead sulphide) and sphalerite (zinc sulphide) with barite (barium sulphate) and celestite (strontium sulphate).   Gossan, weathered rock in which the sulphide minerals have been removed by oxidation to leave an iron oxide residue, has also been encountered.  Although zinc and lead would have been leached out of the gossans, these residues allow us to map out the original extent of the sulphide-rich layers at surface, which could guide us to fresh, sulphide-rich rock below the weathered zone as illustrated in Figure 2.

 

Figure 1.  Image of potassium radiometric data from the geophysical survey that Aurania carried out over the Lost Cities – Cutucu Project in 2017 showing the distribution of silver in rock-chip samples and lead in stream sediment samples.  (Red and purple are areas rich in potassium, blue and green have little potassium). Lead was selected to demonstrate the extent of the Tiria-Shimpia and Shimpia North target areas because it is not easily leached – hence its distribution provides a footprint that is faithful to the extent of the mineralization.

 

Table 1.  Selected analytical results for grab samples of rocks from the Shimpia target (Ag is silver, Pb is lead and Zn is zinc).

 

 

 

Figure 2.  Gossan found on the jungle floor was excavated to reveal fresh, sulphide-bearing mineralization below the weathered layer at Shimpia North.

 

Sample Analysis & Quality Assurance / Quality Control
(“QAQC”)

Laboratories: The stream and rock samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The 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 200-gram (“g”) split was set aside for analysis.

The stream sediment samples were wet-sieved through a 20 mesh (0.84mm) screen in the field and placed in cloth bags so that excess water could drain.  The samples were transported from the field to Aurania’s field office in Macas, Ecuador and batched for delivery to at MSA in Cuenca, for drying and screening at 80 mesh (0.18mm sieve aperture).  The -80 mesh silt was packaged by MSA for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp or -80# soil underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% lead and zinc, or 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

Stream sediment: a 0.5g split of the -80 mesh fraction of the stream silt underwent digestion with aqua regia and the liquid was analyzed for 48 elements 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 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 Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

 

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.com

 

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 statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, 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 decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations 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, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania 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.

Friday, April 30, 2021

Ely Gold Royalties (ELYGF)(ELY:CA)
Building on a Solid Track Record

As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

2020 was a year of significant growth. In 2020, the company significantly enlarged its asset portfolio via acquisition and option agreements. Ely’s current portfolio includes 12 key assets including 4 producing royalties, 26 development assets, and 43 exploration assets. Ely also owns 20 additional mineral properties which are being marketed for sale. In 2020, the company doubled the number of key assets, increased the number of producing royalties, purchased 12 development portfolio royalties on properties near producing mines or part of larger resources, and added 13 properties to its sale portfolio.


2020 financial results.  Total revenue increased 60.8% to C$3.3 million compared to C$2.1 million during 2019 and our estimate of C$3.5 million. Royalty revenue increased to C$2.2 million, while option proceed revenue decreased 12.8% to C$1.0 million. Gains associated with the disposal of mineral interests amounted to C$118.2 thousand compared to C$918.4 thousand in 2019. Ely Gold Royalties reported …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Friday, April 30, 2021

Coeur Mining (CDE)
Moving to the Sidelines; Rating Lowered

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, rochester, wharf, and kensington. Its projects are located in the United States, Canada and Mexico, and North America.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

First quarter 2021 financial results. Coeur reported first quarter adjusted earnings of $13.9 million, or $0.06 per share, compared with a loss of $919 thousand, or $0.00 per share during the prior year period. Adjusted EBITDA were $65.9 million versus $46.5 million during the first quarter of 2020. We had forecast earnings of $11.7 million, or $0.05 per share, and EBITDA of $53.0 million. Unadjusted EPS and EBITDA were $0.01 and $49.7 million.


Updating estimates.  We have lowered our 2021 EPS and EBITDA estimates to $0.45 and $293.4 million from $0.55 and $320.1 million. While the company has maintained its 2021 production guidance, we have lowered our estimates within the company’s guidance ranges …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Allegiant Gold Completes 9 Hole, 3800 Metre Drill Program Near Original Pit Zone At Eastside

 

Reno, Nevada / April 29, 2021 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce the completion of a 9-hole drill program (approximately 3,800 metres) near the Original Pit Zone at Eastside, our flagship project, 30 km northwest of Tonopah, NV.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have completed the recent drill program which was conducted on the western flank of the Original Pit Zone. Our initial objectives for this drill program were three-fold: First, to test the perspectivity of the western flank immediately outside the Original Pit Zone. Second, test deeper targets within the Original Pit Zone. Third, potentially expand the pit wall leading to a reduced strip ratio in the Pit Zone. We expect to release a summary of all assays upon receipt and analysis. Furthermore, we expect to provide a more thorough corporate update in the near future.”

Allegiant continues to develop and expand upon our inferred resource base of 57 million tonnes grading 0.54 g au/t (approx. 1 million gold ounces inferred) at Eastside. Over the past six months, Allegiant has now drilled approximately 10,000 metres at Eastside including 6,000 metres in the Castle Area and 3,800 metres nearby the Original Pit Zone

Graph 1: Map of Eastside
https://www.allegiantgold.com/nr/2020-01-27-map.pdf

Qualified Person

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release.

About Allegiant

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Source: Allegiant Gold

Research coverage of Allegiant Gold (AUXXF) on Channelchek is provided by Noble Capital Markets, Inc. Please refer to the research disclosures on the most recent AUXXF report for more information.

Allegiant Gold Completes 9 Hole, 3800 Metre Drill Program Near Original Pit Zone At Eastside

 

Reno, Nevada / April 29, 2021 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce the completion of a 9-hole drill program (approximately 3,800 metres) near the Original Pit Zone at Eastside, our flagship project, 30 km northwest of Tonopah, NV.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have completed the recent drill program which was conducted on the western flank of the Original Pit Zone. Our initial objectives for this drill program were three-fold: First, to test the perspectivity of the western flank immediately outside the Original Pit Zone. Second, test deeper targets within the Original Pit Zone. Third, potentially expand the pit wall leading to a reduced strip ratio in the Pit Zone. We expect to release a summary of all assays upon receipt and analysis. Furthermore, we expect to provide a more thorough corporate update in the near future.”

Allegiant continues to develop and expand upon our inferred resource base of 57 million tonnes grading 0.54 g au/t (approx. 1 million gold ounces inferred) at Eastside. Over the past six months, Allegiant has now drilled approximately 10,000 metres at Eastside including 6,000 metres in the Castle Area and 3,800 metres nearby the Original Pit Zone

Graph 1: Map of Eastside
https://www.allegiantgold.com/nr/2020-01-27-map.pdf

Qualified Person

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release.

About Allegiant

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Source: Allegiant Gold

Research coverage of Allegiant Gold (AUXXF) on Channelchek is provided by Noble Capital Markets, Inc. Please refer to the research disclosures on the most recent AUXXF report for more information.

Thursday, April 29, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Drilling at Tyko Yields Encouraging Results; Geophysical Survey to Commence in May

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Phase II drilling program extends known mineralization at Smoke Lake. A total of 14 holes were completed, of which 11 intersected massive and/or semi-massive sulphide mineralization at the Smoke Lake Zone, which previously returned up to 9.9% nickel equivalent over 3.8 meters. Recall that ground-based and borehole EM surveys outlined two significant conductors at Smoke Lake. The most significant conclusion from the Phase II drill program was the linking of massive sulphide mineralization in the upper conductor with the lower conductor. The Phase II drill program indicates a continuous lens of sulphide mineralization joining the upper and lower conductors that dips to the west and plunge to northwest. Management is awaiting first assay results from the laboratory.


VTEM geophysical survey scheduled for May.  Drilling has been paused due to the spring thaw. Drilling will resume following a 3,000-line kilometer airborne versatile time-domain electromagnetic (VTEM) survey that will cover the entire Tyko project area to discover additional EM anomalies and refine future drill locations …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Thursday, April 29, 2021

Chakana Copper Corp (CHKKF)(PERU:CA)
More Good News

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Drilling results underscore significant mineral resource potential. Chakana Copper released results from 8 exploration holes from Huancarama representing 1,522.1 meters of drilling, and 5 resource definition drill holes from Paloma East representing 1,455.15 meters of drilling. At Huancarama East, the drilling program has defined a large zone of copper-gold-silver mineralization that is expected to be of importance to the company’s maiden resource estimate. At Huancarama West, the exploration drilling continues to define continuity, while drilling at Paloma East has revealed significant near-surface mineralization.


Drilling program for calendar year 2021.  Including drilling activities that commenced in August 2020, a total of 32,000 meters of drilling is anticipated through 2021. This includes 56 drill holes, representing 11,062.5 meters of drilling in the Paloma and Huancarama areas, for which results have been released. For the 26,000 meters of drilling planned in 2021, the company expects to complete …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.