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Additional Information
Market: ASX
Sector: General Mining
Epic: ASX: AEE
News: Latest news
Web Site: Aura Energy
Other Articles: 17-12-200910-08-200921-04-2009

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Friday March 12, 08:50Baobab Resources resumes drilling at Tete iron-vanadium-titanium project

Shares in the company were lifted by the news it started a 12,000 metres scout drilling campaign at its project in Mozambique, with constant updates expected in the next few months.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Aura Energy

Aura Energy

Aura Energy (ASX:AEE) is an Australian listed metal explorer with projects in Australia, Sweden and Africa. The Company has assembled a portfolio of properties on three continents, including a major presence in Sweden’s Alum Shale Province, one of the largest deposits of uranium in the world.  The Alum Shale is considered to contain Europe’s largest resources of uranium and contains exceptionally large resources of vanadium, molybdenum and nickel.

Aura has recently entered into a Heads of Agreement with Sino King Enterprise Investment Limited (“Sino King”) potentially worth A$460 million to develop the Company’s Storsjön Project in Sweden. Due diligence is currently being conducted.

In an alliance with GCM Resources Plc (LSE/AIM:GCM), Aura is exploring in West Africa. Under the alliance, Aura has been granted three exploration licences in Mauritania and applied 11 further licences.

Thursday, March 12, 2009

Aura Energy and Mega Uranium to commence maiden drilling for uranium in Gunbarrel Basin, WA

Aura Energy (ASX:AEE) has announced that Canadian uranium company Mega Uranium (TSX:MGA) has approved and will fund a proposed 24 hole aircore drill program of approximately 2000 metres in the Gunbarrel Basin Joint Venture in Western Australia with Aura Energy. The program will be managed and operated by Aura Energy.

The Gunbarrel Basin, located east of, and partly overlying, the Archaean Yilgarn Block, contains a large endowment of sediment-hosted uranium mineralisation in the Mulga Rock, Ponton and Thatcher Soak deposits. Despite the amount of uranium present, the Basin is significantly less explored than the other major uranium provinces of Australia.

Energy and Minerals Australia (ASX:EMA) recently announced a JORC compliant inferred resource of 24,500 t U3O8 at a cut off grade of 200 ppm U3O8 for the Mulga Rock deposit.

The drill programme is designed to test the prospective Junction Palaeochannel. This prospectivity is based on the similarity of the palaeochannel to those at Mulga Rock and Ponton, and also the presence of the Thatcher Soak calcrete deposit up-drainage in the channel.

Thatcher Soak, held by Uranerz Ltd and Eleckra Mines Ltd, contains almost 10,000 tonnes of uranium in resources compliant with the JORC code. The position of the Junction palaeochannel was delineated in an airborne electromagnetics survey conducted by the Aura Energy-Mega Uranium Joint Venture in 2007.

The program is planned for mid year, subject to Department of Mines and Petroleum approval of the work program. Aura’s Gunbarrel Basin exploration is a joint venture with Mega Uranium, whereby Mega can spend $3 million to earn 50% in Aura’s tenements.

Aura’s extensive landholding in the Gunbarrel Basin, totalling approximately 2760 km2,covers major portions of three of the four main palaeochannels in the region.

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