Rick Rule interviews Dr. Keith Barron, Aurania Resources chairman and CEO, to discuss how Barron’s record has prepared him for exploration success in Ecuador. Barron recounts how his attraction to Ecuador began in 1998, when a history professor told him of two lost Ecuadorian gold mines of the Spanish conquistadors — supposedly in an area of the country near Peru. Barron went on to co-found Aurelian Resources, which in 2006 made a world class discovery: a massive 13-million ounce gold discovery at its Ecuadorian Fruta del Norte mine. Kinross Gold later acquired the company for over $1.2 billion, catapulting the share price from 46 cents to $43.
Barron is now back in Ecuador with another project — what he calls the kind of frontier exploration that could turn up elephants. After he researched and pored through more than 300 historical archival documents and maps — including a book in the Vatican that traced a road map to one of the lost mines — Aurania staked a land package in the country encompassing more than 500,000 acres. Situated less than 100 kilometers from the Fruta del Norte discovery, the land has never undergone exploration from a mining company. Aurania is applying advanced geochemistry and geophysics on the site, technology that the Spanish conquistadors could never have thought of in their wildest dreams. The company has found gold, silver and copper in many places. Geologists on the ground have found 12 epithermal gold-silver type targets. Barron says they’ve found copper oxide in sedimentary rocks and embedded rocks of quite high grade — consistently more than 1% and anything up to 9%.
Listen below to Rick Rule’s interview with Dr. Keith Barron, Aurania Resources chairman and CEO.
Interview Date: February 19, 2019