Aurania Resources Ltd. has signed non-binding Memorandum of Understanding (MOUs) with the Communes of Ogliastro and Nonza in Cap Corse, Northern Corsica, France, through its wholly-owned subsidiary, Corsica Ressources S.A. The MOUs pertain to the exploitation of heavy mineral beach placers enriched in nickel and other metals. Recent analyses conducted by Activation Laboratories Ltd (Actlabs) revealed a remarkable assay of 50.4% nickel, 0.701% cobalt and 0.476% copper from a heavy mineral concentrate produced through simple gold panning of beach sand. Additionally, tests by SGS Laboratories yielded a concentrate of magnetic beach sand with a nickel content of 40.1%. These grades significantly exceed those of known hard rock deposits.
Aurania’s management recognized the significance of this discovery and has collaborated over the past year with various governmental bodies, including the Mineral Resources Department and the Interministerial Delegation for Critical Minerals and Strategic Metals in Corsica. Consultant Geologist Stefan Ansermet found a 1968 Geological Survey of France report discussing natural nickel-iron alloy accumulations on Albo Beach, attributed to asbestos mine waste disposed of in the Mediterranean Sea from 1948 to 1965. This material has been dispersed by natural forces, affecting the nearby historic ports of Albo and Nonza.
Streeton noted that the awaruite mineral, residing within serpentinite rock, has been naturally attrition-milled along the surf. Historical data indicated that beach sand from Albo, concentrated with heavy liquids, yielded nickel grades exceeding typical mine waste levels. After reviewing satellite images, Dr. Keith Barron, Chairman and CEO of Aurania, confirmed the presence of black sand accumulations at Nonza Beach. A subsequent sample taken from this area revealed that 31.7% of the sand was magnetic, primarily composed of awaruite (Ni₃Fe) and magnetite (Fe₃O₄).
Awaruite, a natural Ni-Fe alloy with a composition resembling stainless steel, poses no present environmental hazards according to the French National Institute of Industrial Environment and Risks. Both awaruite and magnetite can be easily separated from beach sand using gravity techniques similar to those used in placer gold recovery. The recovery process is straightforward, cost-effective, and environmentally friendly, requiring no chemicals. SGS Labs is currently analyzing a 130 kg sample to optimize the separation of awaruite.
Dr. Barron remarked on the potential of this nickel prospect, highlighting the absence of traditional mining methods like drilling and blasting, which makes it particularly attractive for direct shipping to smelters or battery-grade nickel sulfate producers. While this initiative diverges from Aurania’s ongoing copper and gold exploration in Ecuador, Dr. Barron, with his extensive experience in heavy mineral recovery, immediately recognized the economic significance of the project. The BRGM estimates that over 11 million tonnes of processed serpentinite grading 0.2% nickel were disposed of at sea, indicating a significant resource potential yet to be fully assessed. Currently, the company has not established a Resource or Reserve.
