Heliostar Metals stock gains on Mexican asset buys
Heliostar aims to reach production of more than 500,000 oz. of gold a year by 2030.
Aurania Resources (TSXV: ARU) announced that, by mid-September, it plans to kick off a drill campaign at the Yawi targets on its Lost Cities – Cutucu project in Ecuador.
In a press release, Aurania said the targets at Yawi lie within an area measuring approximately 4 kilometres by 4 kilometres in the southern region of the project.
Soil sampling has identified four targets that contain elevated levels of silver and other pathfinders
“Soil sampling has identified four targets that contain elevated levels of silver and other ‘pathfinders’ – elements that typically occur in epithermal gold-silver systems,” the media brief reads. “Metal and pathfinder elements are concentrated in elongate zones 1 kilometre – 2 kilometres long and 100 metres – 200 metres wide that contain banded chalcedonic quartz veinlets that represent the upper fringes of vein systems.”
The Toronto-based miner added that the aim of the drilling campaign is to intersect the vein system represented by metal-enriched corridors at an elevation several hundred metres beneath the altitude of the sinters at Yawi.
Even though permits have not been issued yet, the Canadian company expects to receive them by September.
The Lost Cities – Cutucu project, in the southeastern province of Morona-Santiago, consists of 42 concessions located in the central part of the Cordillera de Cutucu. The concessions extend for approximately 95 kilometres along the mountain range, which is part of the Northern Andean Jurassic Metallogenic Belt. The area contains clusters of porphyry copper, gold-copper skarn and epithermal gold deposits.
