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'The opening of FDN is a turning point for the mining industry in Ecuador'

Aurania Resources (TSXV: ARU) chairman and CEO Dr Keith Barron is upbeat about mining prospects in Ecuador after attending the opening of Lundin Gold’s Fruta del Norte gold mine last week.
'The opening of FDN is a turning point for the mining industry in Ecuador' 'The opening of FDN is a turning point for the mining industry in Ecuador' 'The opening of FDN is a turning point for the mining industry in Ecuador' 'The opening of FDN is a turning point for the mining industry in Ecuador' 'The opening of FDN is a turning point for the mining industry in Ecuador'

Ecuador explorer Aurania Resources’ Dr Keith Barron at the opening of Fruta del Norte

Staff reporter

Barron was involved in the discovery of the deposit in 2006 which Aurania describes as on the adjacent and contiguous mineral belt to its Lost Cities-Cutucu project.

"The opening of FDN is a turning point for the mining industry in Ecuador," Barron said.
 
"Perceptions in this country have always been that gold mining is polluting, destructive to the environment and offers little to no benefit to the people or the state.

"For the first time in Ecuador's history, gold mining will be carried out in a responsible, technically safe and sustainable way, offering unimagined benefits to stakeholders and the people of Ecuador."

Lundin Gold had acquired Fruta del Norte in 2014 for US$240 million from Kinross Gold, which had reached a stalemate with the government over development terms for the project.

The high-grade mine is expected to produce an average 310,000 ounces of gold over 15 years.

Meanwhile Aurania said it had drilled its first scout hole for epithermal gold and silver at Yawi Target A at Lost Cities-Cutucu and was awaiting results.

Aurania's shares closed up 10% on Friday to C$2.85.

They have ranged from $2.18 to $4.10 over the past year and the company is capitalised about $104 million (US$79 million).