Toronto, Ontario – (February 28, 2014) – Aurania Resources Ltd. (TSXV: AOZ) (“Aurania”) reports that it has received all assay results from the initial exploration drill programme on the Siviez U-Cu-Au project in Switzerland. The programme consisted of 623 metres of diamond drilling in 4 holes designed to test surface showings and radiometric anomalies. These initial drill holes at Siviez followed the 1390 metre drill program at the Mont Chemin gold project, taking advantage of minimal incremental mobilization costs. Drilling was initiated at Siviez later in 2013 than planned and snowfall impeded both access to the property and moves between holes. The second hole was abandoned and redrilled due to water loss issues and freezing night temperatures.
The drilling provided valuable geological and structural information, however failed to encounter any zones of significant radiometric response and subsequent assays did not reveal any substantial uranium mineralization. Anomalous copper was returned from several intervals suggesting that the mineralized halo was sampled. Core recovery was poor and it is suggested that mineralized intervals may have been lost. Mineralization at Siviez is visible at numerous locations at surface along a 5.5 kilometre strike length. However, the uraninite typically occurs as discrete clots, rather than continuous bands. This “nugget effect” was expected to pose some sampling challenges.
The 2014 planned programme will consist of a comprehensive structural mapping campaign to better constrain future drilling. Siviez is a uranium-bearing contact zone between metasediments and metavolcanics that stretches more than 5.5 km on surface above treeline. Only one small area accessible by road was drilled in the 2013 campaign. Aurania is investigating the possibility of a second drill programme for the Mont Chemin gold project in Switzerland in summer 2014, consisting of drilling several zones from underground in the Hubacher tunnel, an existing adit that was driven to explore for fluorite mineralization in the 1980’s. The tunnel predates the discovery of gold.
Aurania will have a booth at this year’s Prospectors and Developers Annual Convention (“PDAC”) at the Metro Toronto Convention Centre on Sunday, March 2 and Monday, March 3, from 10:00 a.m. to 5:30 p.m. Shareholders and interested parties are invited to visit and examine drill core from Mont Chemin at booth number 2407A. Drill intervals of interest were split using a diamond saw and one half was 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.
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:
Dr. Keith Barron, President and CEO
Tel: 416 367-3200 ext. 202
Donna McLean, CFO
Tel: 416 367-3200 ext. 203
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. Forwardlooking 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.