Aurania Resources Ltd. announced its proposed 2023 exploration activities. As the concessions for its mineral properties in Ecuador are fully renewed and in good standing for another year after payment of all concession fees in March, the Company is able to develop the 2023 exploration programs. Aurania attended the Prospectors and Developers Association of Canada meeting (PDAC) in Toronto the first week of March, and the company were delighted by the interest sho wn by several Major companies in Ecuador asset. As a result of follow-up meetings there are now several companies in data room. The primary interest has been in porphyry copper and sediment-hosted copper-silver prospects. To date, approximately 45% of the Awacha Porphyry Target has been covered by Anaconda-style Mapping. This is an intensive mapping technique that was originally developed by the famous Anaconda Copper Company, and has been taught to the Aurania geological staff by consultant Dr. Steve Garwin. This target is approximately 11 km x 5 km in size and was discovered by stream sediment sampling which showed elevated copper and molybdenum in the vicinity of two strong airborne magnetic anomalies. This size is significantly larger than any copper porphyry known and so working hypothesis is that it is a cluster of porphyries, and similar to the Warintza cluster to the south of concessions. Intrusive rock types from gabbro to diorite to monzonite and syenite have been mapped. Many of these intrusives show secondary biotite (potassic) alteration and fine quartz veins containing molybdenite or a centre line of chalcopyrite. These so called distinctive B veins are classic evidence of mineralized porphyry systems. Most of the Awacha area is covered by a unit of black shale which obscures the geology except where streams have cut down through the sediments and exposed the porphyry. The area is also covered by thick jungle. Nevertheless, Terraspec Mineral Spectrometer analysis of soils in the southern half of the anomaly
indicates chlorite, kaolinite, white micas, dickite and pyrophyllite which are compatible with porphyry- style alteration. The last two minerals are typically found in the upper part of porphyry systems. Copper soil anomalies are patchy, which is in keeping with soil results seen near outcropping sediment hosted copper elsewhere on the property. It would seem that copper is easily flushed away from surface soils by the significant rainfall in the area. Molybdenum however, which is essentially insoluble and immobile presents a much more coherent group of anomalies. Half of the Awacha target is still to be sampled for soils. The Tatasham epithermal gold/porphyry copper target is compelling due to the presence of what are believed to be pipe breccias. The area is, however, in steep terrain and the geology is mostly covered by post-mineral sedimentary cover and does not outcrop. Soil samples along the ridgeline above the previous porphyry drilling campaign yielded anomalous antimony, which is a pathfinder element in gold systems. An additional soil survey is required at Tatasham to extend the antimony anomaly that is still open to the north. Intensive mapping and prospecting are required. The discovery of the epithermal system at Tatasham was unexpected, in our pursuit of a copper porphyry target indicated by geophysics. That porphyry target is still valid, but it may lie at considerable depth, or it may lie laterally. Over the next six months it is intended to finish the Anaconda mapping on Awacha, and bring it to drill readiness. At the same time, Tatasham will be re-examined in the belief that the antimony anomaly in soils may be due to a subcropping mineralized system. The Fruta del Norte gold deposit was discovered by drilling a geochemical anomaly of antimony, arsenic and mercury which had virtually no gold on surface. Aurania is currently investigating the feasibility of conducting an Induced Polarization (IP) geophysical survey at Tatasham and Awacha.