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Aurania Discovers Nickel-rich Beach Placers in France and Signs Memoranda of Understanding
Toronto, Ontario--(Newsfile Corp. - October 3, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Discovers Nickel-rich Beach Placers in France and Signs Memoranda of UnderstandingToronto, Ontario--(Newsfile Corp. - October 3, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\"). Aurania has signed non-binding Memoranda of Understanding (\"MOUs\") with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France, through Aurania's wholly-owned subsidiary Corsica Ressources S.A. for the exploitation of heavy mineral beach placers that are highly enriched in nickel (Ni) and other metals. Analysis by Activation Laboratories Ltd (Actlabs) of Ancaster, Ontario, of a heavy mineral concentrate produced by simple gold panning the beach sand by hand yielded an assay of 50.4% nickel, 0.701% cobalt (Co), and 0.476% copper (Cu). A Mozley gravity table concentrate of magnetic beach sand performed by SGS Laboratories of Lakefield, Ontario yielded 40.1% nickel. These nickel grades are far in excess of any known hard rock deposits to our knowledge. The Management of Aurania was quick to realize the significance of this \"discovery\" and has worked over the last year with the Mineral Resources Department of the Ministry of Economy and Finance, the Interministral Delegation for the Provision of Critical Minerals and Strategic Metals as well as various levels of Government within Corsica.Aurania's Consultant Geologist, Stefan Ansermet, located a Geological Survey of France (BRGM) report from 1968 entitled \"Le problème du nickel dans le serpentines de Corse\" (The problem of nickel in the serpentinites of Corsica) which contained a one-paragraph reference to an accumulation of natural nickel-iron alloy (awaruite) on the beach of Albo, originating from asbestos mine waste that had been disposed of in the Mediterranean Sea. At the Canari open-pit mine, processed mine waste was dumped in the sea from 1948-1965. This has been broken up by storms and tides and travelled up to six kilometres along the coast and silted up two historic ports: Albo and Nonza. The awaruite mineral resides within the serpentinite host rock which in the surf has been naturally attrition milled. In the historical data a minus 2 millimetre fraction of beach sand from Albo, concentrated by heavy liquids, gave a Ni assay more than double the typical grade of mine waste. Aurania's Chairman and CEO, Dr....