Rising gold prices and better operational and financial discipline are motivating companies more than ever to seek new ounces to fill their production pipelines. Below is a look at eight companies exploring worldwide.
Aurania Resources
Aurania Resources (TSXV: ARU) is exploring its flagship Lost Cities–Cutucu gold-copper project in southeastern Ecuador under the direction of seasoned mining executives CEO Keith Barron and Richard Spencer, president.
The company is hunting for two gold-mining centres that Spanish manuscripts and maps from the 16th and 17th centuries refer to as Sevilla del Oro and Logrono de los Caballeros. In late November, field teams found remnants of what the company believes is an old road in the central part of the project that once linked the two mining centres. The remnants of the road, 50 km from where Aurania is drilling its Yawi gold target, were found in heavy vegetation over 2.5 km, and run north-south along Aurania’s concession block in the eastern foothills of the Andes mountain range of southeastern Ecuador. The next steps include a LIDAR survey over the area.
In addition to its gold targets, Aurania has come across two types of copper at surface — porphyry-related copper and sedimentary copper, where the copper exists in specific sedimentary horizons — and reported an average grade from 18 outcrop samples of 4.4% copper and 51 grams silver per tonne at its Tsenken, Kirus and Jempe targets. Highlights included 9% copper with 185 grams silver per tonne and 7.1% copper with 19 grams silver per tonne.
Continue reading at The Northern Miner.
Comments