Aurania Resources Ltd. reported that through a collaboration with Metron Incorporated ("Metron") of Reston, Virginia, USA, the "lost city" of Logroño de los Caballeros has been found in Ecuador. The site considered to be the ancient gold camp is not on Aurania's concession block, but is downstream, and is exclusively alluvial (placer) gold. No archaeology has been found. Aurania is now on the hunt to find Logroño's source of gold within its Lost Cities ­ Cutucu Project ("Project") in southeastern Ecuador. The location of Logroño, as inferred by Metron, is supported by a multitude of historical documents as well as geological information collected by Aurania and the increased presence of artisanal miners in the area. Logroño de los Caballeros was one of seven historic mining areas operating during the time of the Spanish conquistadors in the land that became Ecuador. Its geographic location and that of a second site, Sevilla del Oro, have been lost over time. Aurania's Project is partly based, and is named on the premise, that the two
lost cities would be within Aurania's large concession package. Metron worked with the Company from the fall of 2019 to July 2020 to help refine the search for the two historic gold camps and locate prospective mineralized areas. Using Bayesian search theory, Metron churned through a mountain of historical, geological, geochemical, and geophysical information from the concessions to generate: probability maps for the Lost Cities; and likelihood ratio surfaces showing potential locations for deposits of copper, silver, and gold on the concession package. The likelihood ratios that the team generated for porphyry style copper, epithermals and PbZn deposits based on stream sediments, geology, and magnetics were later combined with land use, structural setting, LiDAR features and radiometric response.