Aurelian surges on Fruta Del Norte drilling (July 18, 2007)

As Aurelian Resources (ARU-T) awaits assays from the final 8 holes of an 82-hole program on the Fruta Del Norte deposit in Ecuador, the companys shares rose nearly 13% today on the latest results.

Aurelian was up 96 to $8.40 on a trading volume of 4.3 million shares with the announcement 10 drill hole results, including a 172.70-metre intersection grading 7.71 grams gold per tonne and 8.2 grams silver per tonne in an infill drill hole.

Another hole returned 158.64 metres grading 8.13 grams gold per tonne and 11.13 grams silver.

Intercept widths are not true widths because the shape of the deposit and the angle of the drill holes. True width varies but is generally about 100 metres.

Fruta Del Norte is a part of the Condor project, a 95 sq. km land package with 38 mining concessions in southeastern Ecuador.

The results confirm the geometry and grade of the known zones of Fruta Del Norte, while also adding new mineralization at depth and to the east, said Aurelian president and CEO Patrick Anderson in a statement.

Aurelian describes Fruta Del Norte as a mineralized envelope that is traceable for more than 1,200 metres along strike and exceeds 100 metres in width through the central and southern portions. It dips moderately westward through to vertical and has a vertical extent of more than 250 metres.

Once the final eight holes are assayed, Micon International will be able to calculate the inferred resource estimate for the deposit.

Investor relations manager Marla Gale says the company hopes to have the resource out by mid-August before an analyst tour of the property.

The company will continue drilling at Fruta Del Norte to build on the initial resource, targeting areas to the south, north and east. Aurelian will also continue drilling at the El Tigre gold target on another area of the property. The company plans to drill another 60,000 metres this year, mostly on Fruta Del Norte.