Aurania Nickel Samples from Corsica Yield Precious Metals as Well as Cobalt and Copper
Aurania Resources has received preliminary results from mineral processing studies conducted by SGS Laboratories on magnetic sand samples from Nonza Beach, Corsica. The beach sand contains awaruite, a nickel-iron alloy, with the beach extending 1350 meters long and up to 350 meters wide. Laboratory tests revealed impressive mineral concentrations in the awaruite flotation concentrate: 71.4% nickel, 0.98% cobalt, 0.65% copper, and precious metals including gold, platinum, and palladium. The beach material is 40% sand, with up to 31.7% being magnetic. SGS achieved 83.8% nickel recovery from magnetic sand with a 6% nickel head grade.
Aurania Resources ha ricevuto risultati preliminari dagli studi di elaborazione mineraria condotti dai laboratori SGS su campioni di sabbia magnetica provenienti dalla spiaggia di Nonza, in Corsica. La sabbia della spiaggia contiene awaruite, una lega di nichel e ferro, con una lunghezza di 1350 metri e una larghezza fino a 350 metri. I test di laboratorio hanno rivelato concentrazioni minerali impressionanti nel concentrato di galleggiamento dell'awaruite: 71,4% di nichel, 0,98% di cobalto, 0,65% di rame e metalli preziosi tra cui oro, platino e palladio. Il materiale della spiaggia è composto per il 40% da sabbia, di cui fino al 31,7% è magnetico. SGS ha ottenuto un recupero di nichel dell'83,8% dalla sabbia magnetica con un grado di nichel in testa del 6%.
Aurania Resources ha recibido resultados preliminares de los estudios de procesamiento de minerales realizados por los laboratorios SGS sobre muestras de arena magnética de la playa de Nonza, en Córcega. La arena de la playa contiene awaruite, una aleación de níquel y hierro, con una longitud de 1350 metros y un ancho de hasta 350 metros. Las pruebas de laboratorio revelaron concentraciones minerales impresionantes en el concentrado de flotación de awaruite: 71,4% de níquel, 0,98% de cobalto, 0,65% de cobre y metales preciosos que incluyen oro, platino y paladio. El material de la playa es 40% arena, con hasta un 31,7% que es magnético. SGS logró una recuperación de níquel del 83,8% a partir de arena magnética con una ley de níquel del 6%.
오라니아 리소스는 코르시카의 논자 비치에서 자성을 가진 모래 샘플에 대한 SGS 연구소의 광물 가공 연구에서 예비 결과를 받았습니다. 해변 모래는 아와루아이테라는 니켈-철 합금을 포함하고 있으며, 길이는 1350미터, 폭은 최대 350미터입니다. 실험실 테스트 결과는 아와루아이테 부유 농축물에서 71.4%의 니켈, 0.98%의 코발트, 0.65%의 구리 및 금, 백금, 팔라듐과 같은 귀금속의 인상적인 광물 농도를 보여주었습니다. 해변 소재는 40%가 모래로 구성되어 있으며, 최대 31.7%가 자성입니다. SGS는 6%의 니켈 헤드 그레이드에서 자성 모래로부터 83.8%의 니켈 회수를 달성했습니다.
Aurania Resources a reçu des résultats préliminaires d'études de traitement minéral réalisées par les laboratoires SGS sur des échantillons de sable magnétique de la plage de Nonza, en Corse. Le sable de la plage contient awaruite, un alliage de nickel et de fer, avec une longueur de 1350 mètres et une largeur allant jusqu'à 350 mètres. Les tests de laboratoire ont révélé des concentrations minérales impressionnantes dans le concentré de flottation d'awaruite : 71,4 % de nickel, 0,98 % de cobalt, 0,65 % de cuivre et des métaux précieux comme l'or, le platine et le palladium. Le matériau de la plage est composé de 40 % de sable, dont jusqu'à 31,7 % est magnétique. SGS a obtenu un taux de récupération de nickel de 83,8 % à partir de sable magnétique avec un taux de nickel de 6 %.
Aurania Resources hat vorläufige Ergebnisse von den mineralverarbeitenden Studien erhalten, die von SGS Laboratories an magnetischen Sandsamples vom Nonza-Strand in Korsika durchgeführt wurden. Der Sandsand enthält Awaruite, eine Nickel-Eisen-Legierung, mit einer Länge von 1350 Metern und einer Breite von bis zu 350 Metern. Labortests haben beeindruckende Mineralienkonzentrationen im Awaruite-Flotationskonzentrat offenbart: 71,4% Nickel, 0,98% Kobalt, 0,65% Kupfer und edelmetalle wie Gold, Platin und Palladium. Das Strandmaterial besteht zu 40% aus Sand, wobei bis zu 31,7% magnetisch sind. SGS erreichte eine Rückgewinnung von 83,8% Nickel aus magnetischem Sand bei einem Nickelgehalt von 6%.
- High mineral concentrations in awaruite flotation concentrate: 71.4% nickel, 0.98% cobalt, 0.65% copper
- Significant precious metals content: 0.58 g/t gold, 0.09 g/t platinum, 0.39 g/t palladium
- Efficient nickel recovery rate of 83.8% from magnetic sand
- Large potential deposit size: 1350m long, 350m wide beach with additional 600m offshore extension
- No compliant resource determination completed yet
- Process optimization still required for improved nickel recovery
- Maximum beach thickness of 14m still needs to be verified through drilling
Toronto, Ontario--(Newsfile Corp. - November 11, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") has received preliminary results from ongoing mineral processing, laboratory assay and metallurgical studies conducted by SGS Laboratories (Lakefield) Ltd. ("SGS") on a sample of magnetic sand taken from Nonza Beach, Corsica, under independent supervision by Mr. John Rae, P. Geo. of Ontario, Canada. The nickel-bearing mineral in the black magnetic sand is awaruite, a naturally occurring nickel-iron alloy, which is both of high specific gravity (dense) and of high magnetic susceptibility (magnetic).
Project Highlights:
- Black beach sands from Nonza Beach, Corsica, contain the magnetic nickel-iron mineral awaruite transported by longshore drift from a nearby historic mine.
- The beach is approximately 1350 metres long and up to 350 metres wide, with the beach material extending on the seabed up to at least an additional 600 metres offshore. The maximum beach thickness is estimated at 14 metres but this has yet to be tested by drilling.
- Preliminary studies indicate the beach is
40% sand, up to31.7% of which is magnetic, and a magnetic concentrate of the sand (containing awaruite+magnetite) yielded40.1% nickel.98% of the awaruite reports to the ˂ 1 mm fraction - New assays of an awaruite flotation concentrate yielded
71.4% nickel,0.98% cobalt,0.65% copper, 0.58 g/t gold, 0.09 g/t platinum and 0.39 g/t palladium - Further metallurgical studies are underway to determine the potential marketability of the mixed awaruite-magnetite as nickel-matte feedstock versus pure awaruite as a polymetallic product
- Study of identical sands at the nearby Albo Beach are also underway
SGS was able to isolate a nearly pure awaruite concentrate using a combination of grinding and flotation of magnetic sand collected in a traverse of Nonza Beach using a high field strength rare earth magnet. The awaruite flotation concentrate assayed
An examination of the literature shows that platinum group metal ("PGM") enrichment in awaruite is quite rare. The only other occurrence documented being in the Kamchatka Peninsula of Russia[1] The Company had previously determined that the Corsican awaruite contains PGMs by electron microprobe analysis carried out at Western University in Canada, and these new assay results by SGS confirm and quantify this.
As presented in the Company's press release dated October 3, 2024, a Mozley gravity table concentrate of magnetic beach sand generated by SGS yielded
The Company notes that it has not done sufficient work to determine a compliant resource at this juncture.
Qualified Persons:
The geological information contained in this news release has been verified and approved by Aurania's VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucú Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes Aurania's objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company's teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company's public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
[1] A. Kutyrev, V.S. Kamenetsky, A. Kontonikas-Charos, D. P. Saveley, T.Y. Yakich, Lithosphere Volume 2023; Behaviour of platinum-group elements during hydrous metamorphism; constraints from awaruite mineralization.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229480
FAQ
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