Welcome to our dedicated page for Aurania Resource news (Ticker: AUIAF), a resource for investors and traders seeking the latest updates and insights on Aurania Resource stock.
Aurania Resources Ltd. (AUIAF) is a mineral exploration specialist focused on discovering precious metals and copper deposits in South America's underexplored regions. This page serves as the definitive source for official corporate announcements, project updates, and strategic developments.
Investors and industry observers will find timely updates on the company's flagship Lost Cities – Cutucu Project in Ecuador, regional exploration activities, and technical advancements in geological methodologies. Our curated collection includes press releases covering mineral discovery updates, strategic asset transactions, and exploration technology implementations, providing critical insights into the company's value-creation pipeline.
All content undergoes rigorous verification to ensure accuracy and compliance with financial disclosure standards. The archive reflects Aurania team's expertise in geophysical surveying, concession management, and community-focused exploration practices across multiple jurisdictions.
Bookmark this page for direct access to primary source materials about Aurania's copper and precious metals targets, partnership announcements, and operational milestones. Check regularly for new developments in this active exploration company's pursuit of mineral resources.
Aurania Resources has received a conceptual desktop study from IHC Mining Advisory Services (IMAS) for the Albo-Nonza black beach sands project in Corsica. The study proposes extraction and recovery methods for heavy minerals containing nickel and iron, with an estimated combined capital of 13MM Euro and operational cost of 2.82 Euro/t. The beach material consists of 40% sand, with 31.7% being magnetic at Nonza beach, where magnetic concentrate yielded 40.1% nickel. IMAS proposed two recovery scenarios, favoring a floating suction and cutter-head dredge system. The project would halt during tourist season, with beach restoration planned after each extraction period.
Aurania Resources has conducted sea bottom sampling offshore of the Nonza and Albo Beaches in Cap Corse, revealing potential nickel deposits extending significantly offshore. Using a high-intensity rare earth magnet, black sands were collected up to 600 metres offshore of Nonza Beach and 300 metres offshore of Albo Beach. Preliminary analysis of black beach sand concentrate at Nonza showed 40.1% nickel content. The company is exploring the use of marine electromagnets for sand recovery, with samples sent to ALS Chemex for analysis. LiDAR imaging suggests the sea bottom contains waste material from the historic Canari Mine, which may contain valuable nickel deposits.
Aurania Resources has initiated an induced polarization (IP) geophysical survey at its Kuri-Yawi gold target in southeastern Ecuador. The survey, conducted by GexplOre, aims to identify deep conductors potentially indicating gold mineralization for a planned 2025 drilling program. Kuri-Yawi, discovered in 2018 through sinter findings, is the most advanced epithermal target in the company's Cutucu project.
The area shows promising signs with thallium-rich chalcedony veins and epithermal chlorite-smectite-illite zonation, suggesting intense hydrothermal alteration. Previous exploration included nine scout holes during 2020-2021, with results indicating mineralization vectors northeast. The IP survey is expected to conclude by mid-December 2024, with results anticipated in early 2025.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has announced the grant of 415,000 stock options to certain officers and consultants. The options have an exercise price of C$0.70. Of these options, 200,000 were granted to an officer with a five-year exercise period from the grant date, subject to standard vesting conditions.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has discovered nickel-rich beach placers in Northern Corsica, France, and signed non-binding MOUs with local communes for their exploitation. Analysis of heavy mineral concentrates from beach sand yielded exceptionally high nickel grades of 50.4% and 40.1%, far exceeding known hard rock deposits.
The nickel-rich sand originates from asbestos mine waste dumped into the Mediterranean Sea between 1948-1965. The waste has been naturally processed by the sea, concentrating awaruite (a nickel-iron alloy) and magnetite on the beaches. Aurania sees this as both a critical metals recovery project and a clean-up operation.
The company is working with French authorities and has commissioned studies to determine the best methods for commercial recovery. While this project represents a departure from Aurania's Ecuador operations, management believes it could be a significant nickel resource.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) provides an update on its activities:
- Preparation for an induced polarization (IP) geophysical survey at the Kuri-Yawi gold target in Ecuador, expected to start in late October
- Completion of the Anaconda mapping program at the Awacha porphyry copper target area, revealing new intrusive outcrops with porphyry alteration
- Opening of a new school near the Awacha target in collaboration with the Step Forward Foundation
- Application for a 51km2 exploration permit in the Brittany Peninsula, France, in an area with historical high-grade gold finds
- Upcoming attendance at the Swiss Mining Institute conference and Deutsche Goldmesse
- Granting of 42,000 stock options to directors in lieu of cash fees for Q3 2024, exercisable at $0.54 for three years
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has completed the sale of its Peruvian subsidiary, Sociedad Minera Vicus Exploraciones S.A.C. (Vicus), to Palamina Corp. (TSXV: PA) (OTCQB: PLMNF). As compensation, Aurania received 350,000 common shares of Palamina and a 1% Net Smelter Return (NSR) royalty. Palamina has the option to buy back half of the NSR for $1,000,000 at any time.
The only asset held by Vicus is the Pluma copper silver project, which covers 9,800 hectares in northeastern Peru. Palamina S.A.C. plans to transfer its Sora, Volcano, and Galena copper silver projects into Vicus as well.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has clarified the terms of stock options granted to directors in lieu of cash fees for 2024. For Q1 2024, 94,000 stock options were granted at an exercise price of $0.25. For Q2 2024, 54,000 stock options were granted at an exercise price of $0.46. All options are exercisable for three years from the grant date and vested immediately. Directors are responsible for paying the full exercise price if they choose to exercise the options. This arrangement replaces quarterly cash fees for participating directors in 2024.
Aurania Resources announced the discovery of visible gold at its Crunchy Hill target in southeastern Ecuador. This discovery was made during basic prospecting by a geologist, and further investigation, including assays, is required to determine the source. Crunchy Hill was previously confirmed to host an epithermal gold system during a 2019 scout drilling campaign. Additional fieldwork is planned to locate the heart of the system. Concurrently, an Anaconda mapping program has been completed at the Awacha porphyry copper target, and a geophysical survey is planned for the Kuri-Yawi epithermal target.
Aurania Resources announced the grant of 2,154,000 stock options under its Incentive Stock Option Plan to directors, officers, employees, and consultants. This includes 54,000 options granted to directors in lieu of their second-quarter fees, with each director receiving 13,500 options at an exercise price of $0.46. The remaining 2,100,000 options were allocated to directors, officers, employees, and consultants.
The options are priced at C$0.46, exercisable for five years, and subject to standard vesting conditions.
