Aurania Receives Assays on the Mont Chemin Gold Project

Toronto, Ontario--(Newsfile Corp. - December 3, 2013) - Aurania Resources Ltd. (TSXV: AOZ) ("Aurania" ) is pleased to report that it has received all assay results from the initial exploration drill program on the Mont Chemin gold project in Switzerland. The program consisted of 1390 metres of diamond drilling in 12 holes designed to test surface showings and induced polarization geophysical anomalies. A map of drill hole locations can be found at http://auraniaresources.com/news/picture-map-of-mt-chemin-project/. The following are all intervals assaying 1gram per tonne ("g/t") or better gold.

Hole Number From To Interval Gold Assay
MC-2013-01 84.1 metres 86.6 metres 2.50 m 1.77 g/t
MC-2013-01 93.4 metres 95.4 metres 2.00 m 27.93 g/t
Including 94.4 metres 95.4 metres 1.00 m 54.80 g/t
MC-2013-02 29.0 metres 30.0 metres 1.00 m 1.14 g/t
MC-2013-02 58.0 metres 59.0 metres 1.00 m 1.21 g/t
MC-2013-03 41.1 metres 42.4 metres 1.00 m 1.03 g/t
MC-2013-04 67.0 metres 68.0 metres 1.00 m 2.22 g/t
MC-2013-04 95.0 metres 96.0 metres 1.00 m 5.29 g/t
MC-2013-04 175.0 metres 176.0 metres 1.00 m 25.20 g/t
MC-2013-04 184.0 metres 185.0 metres 1.00 m 2.03 g/t
MC-2013-05  No significant assays   
MC-2013-06 33.9 metres 34.9 metres 1.00 m 1.00 g/t
MC-2013-07  No significant assays   
MC-2013-08  No significant assays   
MC-2013-09 20.2 metres 21.2 metres 1.00 m 2.18 g/t
MC-2013-10  No significant assays   
MC-2013-11  No significant assays   
MC-2013-12  No significant assays   

 

The following are all intervals assaying 2g/t or better silver.

Hole Number From To Interval Silver Assay
MC-2013-01 20.0 metres 21.0 metres 1.00 m 4.30 g/t
MC-2013-01 44.8 metres 46.0 metres 1.20 m 21.20 g/t
MC-2013-01 94.4 metres 95.4 metres 1.00 m 8.10 g/t
MC-2013-01 115.0 metres  116.0 metres 1.00 m 11.90 g/t
MC-2013-01 59.9 metres 61.1 metres 1.20 m 4.70 g/t
MC-2013-02 24.5 metres 25.6 metres 1.10 m 7.10 g/t
MC-2013-02 38.7 metres 40.2 metres 1.50 m 30.20 g/t
MC-2013-02 48.8 metres 50.1 metres 1.30 m 23.90 g/t
MC-2013-02 56.0 metres 59.0 metres 3.00 m 2.97 g/t
MC-2013-03 3.6 metres 4.7 metres 1.10 m 3.08 g/t
MC-2013-03 25.0 metres 28.0 metres 3.00 m 3.70 g/t
MC-2013-03 39.4 metres 42.4 metres 3.00 m 3.57 g/t
MC-2013-04 67.0 metres 68.0 metres 1.00 m 6.30 g/t
MC-2013-04 89.9 metres 90.9 metres 1.00 m 9.10 g/t
MC-2013-04 95.0 metres 96.0 metres 1.00 m 22.50 g/t
MC-2013-04 126.0 metres 127.0 metres 1.00 m 130.0 g/t
MC-2013-04 131.7 metres 132.7 metres 1.00 m 7.40 g/t
MC-2013-04 140.0 metres 141.0 metres 1.00 m 4.70 g/t
MC-2013-04 145.0 metres 146.0 metres 1.00 m 18.90 g/t
MC-2013-04 169.0 metres 170.0 metres 1.00 m 2.20 g/t
MC-2013-04 171.0 metres 174.0 metres 3.00 m 16.47 g/t
MC-2013-04 175.0 metres 176.0 metres 3.00 m 7.6 g/t
MC-2013-05 No significant assays   
MC-2013-06 60.0 metres 61.0 metres 1.00 m 10.5 g/t
MC-2013-06 72.0 metres 73.0 metres 1.00 m 24.3 g/t
MC-2013-06 73.0 metres 74.0 metres 1.00 m 2.6 g/t
MC-2013-07 No significant assays   
MC-2013-08 12.75 metres 13.75 metres 1.00 m 2.1 g/t
MC-2013-09 42.15 metres 42.75 metres 0.60 m 2.8 g/t
MC-2013-09 84.0 metres 86.0 metres 2.00 m 3.2 g/t
MC-2013-10 38.5 metres 39.7 metres 1.20 m 2.5 g/t
MC-2013-10 84.0 metres 85.0 metres 1.00 m 3.1 g/t
MC-2013-11 No significant assays   
MC-2013-12 No significant assays   

 

The mineralized drill holes are concentrated in the Scheelite, Crevace, and Vouillamoz pit areas. Though there are no historical records of production, it would appear that there are some small mine dumps and collapsed shafts in the area that may be related to past gold mining. These may be as old as the iron mining, which was carried out during the Middle Ages in several areas of Mont Chemin. The gold-silver mineralized system is genetically and spatially related to a high-level felsic porphyry intrusive, which shows disseminated and vein-hosted fluorite, barite and scheelite mineralization as well as pyrite in pods and disseminations. A conspicuous feature of the drill holes is disseminated scheelite (calcium tungstate CaWO4) which is fluorescent under ultraviolet light, across intervals of up to several metres. Scheelite always occurs with at least trace gold, but can also be in zones lacking any silver. The economic significance of scheelite, which is the main ore mineral of tungsten, has still to be assessed. Samples returned up to a maximum of 1430 ppm tungsten.

Assay results for the Siviez uranium-copper-gold project initial four holes are still pending.

Dr. Keith Barron, Chairman and CEO reports "Our Mont Chemin drilling has proven that the high grade gold and silver mineralization seen at surface can be intersected at depth. It remains for us now to establish the geometry and continuity of the various zones through more drilling."

In addition to the drill samples, four grab samples from two separate sphalerite (zinc) skarns at Mont Chemin were submitted for ICP-MS analysis and returned up to 88.4 parts per million of indium. Indium is a specialty metal used primarily for thin-film coatings of LCD (liquid crystal display) panels on computer screens. It is also a reflectant used in solar panels. Indium is currently quoted at circa $600US per kilogram. To date very little work has been done by Aurania on the zinc occurrences but this will be rectified in light of this new information.

Drill intervals of interest were split using a diamond saw and one half retained for reference purposes. All samples were analyzed at ALS Minerals OMAC Laboratories, Loughrea, Ireland. ALS Minerals is an ISO 9001 accredited assay laboratory, and introduces quality control samples (Certified Reference Materials, Duplicates and Blanks) with all sample batches. In addition, Aurania staff inserted certified reference materials in the sample stream as part of QA-QC protocol. Gold and silver assays were carried out on a 50 gram charge using a 4-acid digestion and fire assay with an atomic adsorption (AA) finish.

The technical information contained in this news release has been verified and approved by Aurania's Chief Geologist, Jean-Paul Pallier, a designated EurGeol by the European Federation of Geologists and 'Qualified Person' for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

For further information please contact:

Keith Barron Donna McLean
President and CEO CFO
Tel: 416 367-3200 Tel: 416 367-3200
E: keith@auraniaresources.com E: donna@auraniaresources.com
  

CAUTIONARY STATEMENT: Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Aurania's objectives, goals or future plans, potential mineralization, exploration and mine development plans, timing of the commencement of operations, estimates of market conditions and the estimated timing and cost of the exploration of the Mont Chemin, Marécottes and Siviez projects. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining of failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, changes in exchange rates, fluctuations in commodity prices, delays in the developments of the company's projects and those risks set out in Aurania's public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, 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. Aurania 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.

 
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