Keith M. Barron, Chairman & CEO, Aurania Resources

Aurania Resources is using stream sediment analysis to not only explore new copper and gold reserves but also capture geochemical expressions of two lost gold mines from the 16th century.

• Interview

How did Aurania become involved in a new mining destination like Ecuador?

Aurania is a junior exploration company listed on the Toronto Venture Exchange. The principals of Aurania have been involved with other mining entities in Ecuador since the early 1990s, so it is not a new destination for us. However, Aurania set up a holding company, EcuaSolidus, just before the eight-year long moratorium on granting new concessions was lifted. In March 2016, we applied for 42 concessions covering 208,000ha. I co-founded Aurelian Resources in 2001, which discovered the Fruta del Norte (FDN) gold deposit that went into production, and selected the properties both for Aurelian and more recently for Aurania, 100km north of FDN in the same belt of rocks. The area we are exploring has never been looked at for minerals. We have so far identified 20 gold-silver epithermal prospects, numerous copper porphyry targets, a silver-lead-zinc replacement or “mantos” deposit, and an incredibly expansive copper-silver oxide discovery hosted in sediments that extends for a minimum of 22km. Thus far, we have explored only about 55% of the concessions. We are searching for two lost gold mines that were active in the 16th century, called Logroño de los Caballeros and Sevilla del Oro. Both mines lie within our concession blocks. We are covering the entire area with stream sediment analysis, an extremely sensitive geochemical technique that we used successfully to find FDN in 2006. We will capture a geochemical expression of the two lost historic mines.

What will be the potential uses of the minerals found at Aurania’s concessions?

We have been finding oxide copper, which is comparatively easy to mine compared to copper sulfide from a porphyry, which would require a concentrate to be sent overseas to a smelter. Oxide copper could be a large front edge cash generator should we choose to go the mining route. We are a long way from mining today, but we are excited about the possibility of producing copper metal for the first time. The future for copper looks bright as a green part of the electric vehicle revolution.

How do you manage the relationship with the local communities around the current exploration projects, and how can this impact the viability of mining in Ecuador?

It is our policy to engage with communities and other stakeholders long before we begin exploration. We work with the indigenous Shuar community and currently employ more than 100 people as laborers, geological assistants, and prospectors. When we work alongside them every day, it shows total transparency. The Shuar population is transitioning from a traditional hunter-gatherer lifestyle to one in permanent villages, where raising cattle and growing crops has become important, but the transition has been difficult, and the poverty levels are still high. There is a preponderance of young people; in fact, there are 21,000 children under the age of 15 in the province of Morona Santiago. In 2018, I established the Step Forward Foundation, a private foundation that works with children and youth to first get them healthy, and then put them on the first rung of the ladder for advancement through education. In general, minerals can provide not just a future for the people living there, but also a future for Ecuador. Ecuador is the last place in South America that is left to explore. I have no doubt that in a decade, there will be many mines in development. The future will be even better. Ecuador could over time be more important in copper extraction than Chile. Demand for copper is set to increase in the future, and Ecuador has the potential to cover a good share of that demand. ✖

Only of the concessions explored concessions in 208,000ha

Keith M. Barron CHAIRMAN & CEO, AURANIA RESOURCES