Aurania Resources of Canada announced its latest exploration progress in the Cutucu gold, silver and zinc project in the province of Morona, Ecuador.
Analysis of the two mines of Kirus and Jempe showed that the copper grade was 4%-7% and the silver was 20-79 g/ton.
These findings are 20 kilometers apart and were obtained during the magnetic anomaly verification of the geophysical exploration. The copper mineralization at the Kirus site is at the northern edge of the strong magnetic anomaly zone, 4 km in diameter.
In addition, the Tsenken magnetic anomaly analysis showed a copper grade of 7.1% and a silver weight of 19 g/t. The anomaly is 8 km from Kirus and 12 km from Jempe.
The company believes that these secondary copper mineralization is the result of weathering deposition of nearby primary porphyry copper deposits. Tropical humid environments often form secondary enrichment zones near porphyry copper deposits, while secondary enrichment can form economically valuable resources. However, the secondary enrichment zone is easily eroded. However, the extent of erosion in the above areas is small.
Keith Barron, president and chief executive officer of the company, acknowledged that the project is still in its early stages, but the discovery of secondary copper mineralization near magnetic anomalies is significant. Barron believes that, unlike porphyry copper exploration elsewhere in Ecuador, it is believed that at least a portion of the target area will be able to find porphyry copper deposits by comparing the southern Cordillera del Condor. At least 20% of the secondary copper enrichment exists in the area of the library library project 20 km wide. Even though deep porphyry copper deposits are of little economic importance, secondary enrichment belts have mining value, such as Morenci in Arizona, USA, which can be mined for many years.
In 2017, Oraniya Resources conducted aeronautical detection of the entire project and delineated the anomalous zone. Subsequently, the anomalous target area was surveyed and geochemically sampled. Up to now, five magnetic anomalies have been investigated, and four of them have porphyry features. Next, the company will perform drilling verification on the preferred target area.
Barron founded Orania Resources in 2001 with Stephen Leary and Patrick Anderson. In 2006, the Fruta del Norte gold mine was discovered.
The Library Gallery project is 90 km north of the Furuta North project, which is currently owned by Lundin Gold.