Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Aurania Resources (TSXV: ARU) reported that, following the partial lifting of covid-related restrictions, its field teams are operational at the Lost Cities – Cutucu project in southeastern Ecuador.
In a media statement, the company’s chairman and CEO, Keith Barron, said that the reopening of the field is not yet 100% as a total lift depends on independent decisions taken by the mayors of the various cantons overlapping the Lost Cities concessions.
Aurania’s CEO said Ecuador still remains in the grip of the covid-19 pandemic and deemed the situation as ‘somewhat volatile’
“At this moment, only 50% of our normal field personnel are permitted – in the open cantons – legally to work. In addition, social distancing practices must be in force. Ecuador still remains in the grip of the covid-19 pandemic, and the situation is somewhat volatile,” Barron said.
According to the executive, Aurania staff have implemented a comprehensive back-to-work protocol and are actively cooperating with the communities around the project area, the Governor of the Morona Santiago province, and the Ministry of Health.
The miner’s exploration teams re-entered the field in mid-June to start mapping and soil sampling on a number of priority targets for gold-silver, copper-gold and copper.
For its summer campaign, Aurania is also planning to run a heliborne Mobile MT survey as a means of identifying sulphides related to porphyries and epithermal gold-silver systems, as well as resistive zones that may represent silica-enriched areas linked with epithermals.
