Aurania Resources granted first concessions in northern Peru

Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) said it has been granted the first six mineral concessions from the 393 covering around 384,000 hectares that it has applied for in northern Peru. 

The mineral explorer said the application for the concession package was made to cover potential extensions of the sedimentary-hosted copper-silver identified over the border at its Lost Cities – Cutucu project in south-eastern Ecuador. 

READ: Aurania Resources begins drilling at Tsenken N1 target

The first concessions granted form part of a larger block that adjoins a joint venture between Hannan Metals Limited CVE:HAN) (OTCMKTS:HANNF) (FRA:C8MQ) and Japan Oil, Gas and Metals National Corporation, from which high-grade copper and silver have been reported.

Aurania added that the concession blocks it has applied for also cover the contact between red-beds (oxidized sandstone) and carbon-bearing rocks, which it said form “prime trap-sites for copper”.

The company also said that publicly available seismic data, acquired by various oil companies that previously explored the area of the concessions, has been secured at no cost from the Peruvian government.

If all the concessions are granted, Aurania said it will represent the fourth largest landholding in Peru.

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Story by ProactiveInvestors