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Aurania Resources Ltd. (TSXV:ARU) has announced the completion of its initial airborne geophysical survey over the company’s large ~2,080 km2 Lost Cities - Cutucu Project in southeastern Ecuador. Aurania was able to complete its airborne magnetic and radiometric surveys on budget, the data from which is now being analyzed. Initial results suggest that the Cutucu Project has a granitic core (previously unknown), similar to the adjacent Cordillera del Condor. In the Condillera del Condor the Zamora Batholith (granitic rocks) has been genetically linked to the formation of large gold, silver and copper deposits in southeastern Ecuador. While it remains early days, we view this preliminary result as encouraging. We note the geophysics is likely to primarily identify porphyry type targets versus epithermal gold-silver targets, which are likely to be identified through a combination of geophysics, satellite imagery and follow-up surface work. The company plans on providing the market with information on the targets identified through the geophysics, and is expecting to following up these new targets with surface work. read more
On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance. read more
Aurania Resources Ltd. (TSXV:ARU) provided an update regarding exploration activities at its ~2,080 km2 Lost Cities – Cutucu project in Ecuador. The airborne geophysics program that began in August is expected to be completed in October, although slightly affected by weather, the company notes it remains on budget. In addition, initial stream samples have been submitted for analysis, with results expected later this month. There are seven geologists working on site, all of which are currently focused on the stream sediment sampling program. The company is gathering data to identify targets for more detailed exploration. Initial results from exploration will be an important catalyst in determining next steps for the company. read more
Aurania Resources Ltd. (TSXV:ARU) has completed the acquisition of EcuaSolidus, S.A., and now owns the ~2,080 km2 Lost Cities – Cutucu project in Ecuador, after receiving shareholder approval at its annual and special meeting held on May 26, 2017. The company will begin an exploration program at the property, comprised of airborne geophysics and a regional stream silt sampling program including geological work, funded by the C$6.4 million financing completed in April. In addition, Richard Spencer current President, CEO and Director of U308 Corp. is now President of Aurania, while Dr. Keith Barron will remain as CEO and Chairman of the Board. Results from exploration work will be important catalysts for the company, as it aims to uncover the Lost Cities. read more
Aurania Resources Ltd. (TSXV:ARU) announced it has entered into a definitive agreement to acquire EcuaSolidus S.A., a private company that owns the ~2,080 km2 Lost Cities – Cutucu project in Ecuador. Consideration for the proposed transaction is C$500,000 and 1.0 million Aurania shares. Lost Cities is potentially the first project where professional historical archival research is coupled with modern exploration techniques. Findings from archives suggest the project area might host two major 16th and 17th century gold mines. The project is based at the foothills of the Andes, covering the core of a mountain range adjacent to that which hosts Lundin Mining Corp’s (TSX:LUN) 7M oz Au Fruta del Norte deposit. It was the team of Dr. Keith Barron, who currently is the President and CEO of Aurania, that discovered Fruta del Norte in 2006. Dr. Barron aims to apply the same exploration strategy this time, which might potentially lead to the expedited identification of drill targets. Dr. Barron is giving a special presentation on the Lost Cities and the process of finding them at our Pre-PDAC Conference tomorrow. read more
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Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.
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