Aurania Resources Ltd.
Aurania is a Toronto-based mineral exploration company focused on gold, silver and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, lies in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Aurania’s entry into southeastern Ecuador was driven by Colonial Spanish documents describing the “lost cities” of Logroño de los Caballeros and Sevilla de Oro – gold mines that operated between about 1562 and 1600. Aurania acquired mineral concessions of 208,000 hectare (500,000 acre) to cover the historic mine sites and called it the “Lost Cities – Cutucu Project.”
The Lost Cities – Cutucu Project, Southeastern Ecuador
The Lost Cities – Cutucu concession block covers the Cordillera de Cutucu, an extension of a very well-endowed gold-copper belt that contains 26 million ounces of gold and 36 billion pounds of copper in NI 43-101 resources. The pillars of Ecuador’s modern mining era lie along-trend of Aurania’s concessions: the Fruta del Norte epithermal gold silver deposit opened in November 2019; and Mirador – a copper porphyry- opened in July 2019.
Experience & Vision
Aurania’s management was involved in the grassroots discovery of both the Fruta del Norte and Mirador deposits in the adjacent mineral belt. That tenacity and experience, using similar exploration techniques that led to those discoveries, is being applied to Aurania’s Lost Cities – Cutucu Project, an area that has never been explored using modern techniques. Aurania’s exploration has identified multiple targets that fall into 5 silos:
Ecuador as a Jurisdiction
Management and Directors
Over 150 Years of Combined Mining Experience
Dr. Keith Barron, Chairman and CEO
Exploration geologist with over 36 years of experience in the mining sector
Co-founded Aurelian Resources Inc., an Ecuador gold explorer that discovered the Fruta del Norte gold deposit, currently being developed by Lundin Gold.
Dr. Richard Spencer, P.Geo., C.Geo., President and Director
Geologist with 32 years of experience in mineral exploration with 10 years living and working in Ecuador
Led teams responsible for discovery of the San Carlos, Panantza and Mirador porphyry copper and Loma Larga epithermal gold deposits.
Tony Wood, B.Sc., CA, Chief Financial Officer
Over the last 20 years, he has successfully completed close to $1bn in financing and M&A transactions in the mining industry.
Jean Paul Pallier, M.Sc., VP Exploration
A geoscientist with over 21 years of experience in the mining industry
Has worked on gold exploration projects in French Guiana
Has experience in Uranium exploration, having led an exploration team in Mongolia.
Carolyn Muir, VP Investor Relations
An investor relations professional with 17 years of experience in the resource sector. She has been working with Aurania since December 2017 on a consulting basis.
Dr. Leanne Baker, MBA, Director
Mineral economist and consultant to the metals/mining industry since 2002
Jonathan Kagan, MA, AB, Director
• Former investment banker with over 35 years of experience
Warren Gilman, B.Sc., MBA, Director
• Mining Engineer with more than 30 years of experience as a deal maker in the mining sector
Alfred Lenarciak, Director
• Civil and Mining Engineer with over 25 years of experience in financing and strategic development of resource companies
On June 11, 2020, Aurania Resources Ltd. announced that its shareholders have approved all resolutions at its annual and special meeting which was held on June 10, 2020.
The Company corrected an error made in its press release dated Feb. 28, 2020. The cash compensation paid to finders for their assistance with the first tranche of the private placement of units of the Company at $3.10 per unit that closed on Feb. 28, 2020, was incorrectly reported as $604 instead of the correct amount of $2,604.
On June 1, 2020, Aurania Resources Ltd. has provided an update of activities, many of which are key points from the Company's results for the three months ended March 31, 2020, contained in the financial statements and management's discussion and analysis dated May 26, 2020, that are available on SEDAR and the Company's website.
On May 22, 2020, Aurania Resources Ltd. has provided additional detail about its application for mineral concessions in northern Peru (see press release dated Jan. 17, 2020). Aurania has applied for 419 mineral concessions covering 413,200 hectares in northern Peru. Although the concessions may not formally be granted for several months under Peruvian law, it has already commenced a detailed review of existing data that are available from the Peruvian government. The Company will provide updates in respect of the gold and copper potential as work progresses.
On May 21, 2020, Aurania Resources Ltd. announced that its soil sampling has provided evidence that the Tsenken North area is evolving into three distinct copper targets, and that number is likely to grow as fieldwork extends over adjacent geophysical targets. Tsenken North lies in the central part of the Lost Cities – Cutucu Project in southeastern Ecuador.