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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AEE
Latest Price:	0.15 (-6.25% )
52-week High:	0.34
52-week Low:	0.13
Market Cap:	23.16M

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Aura Energy Full Aura Energy profile here

Aura Energy (ASX: AEE) is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company is focusing on two main projects: the Storsjön Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world; and the highly prospective Reguibat Project in Mauritania.

Aura Energy’s main projects in Sweden are based on the Alum Shales, which have been historically known as one of the largest depositories of uranium in the world. Aura Energy has exploration permits and applications in three regions in west Africa: the Reguibat Craton in Mauritania, the Mauritanide Fold belt in Mauritania, and the Tim Mersoi Basin in Niger.

Aura Energy to kick off drilling at West African uranium project in late November

Monday, November 08, 2010

Aura Energy (ASX: AEE) has signed an agreement with Wallis Drilling Pty Ltd for 10,000 metres of air core drilling to establish the initial resource for the company’s Reguibat Project in Mauritania, West Africa.

The drilling rig is currently en route between Europe and Nouakchott in Mauritania, and is expected to be on site in the last week of November.

The drilling programme will last for two to three months and the company are on track to establish the first calcrete uranium resource in the country within the first half of 2011.

Bob Beeson, Aura’s managing director, said “we are pleased that we have acquired a drilling rig for Aura’s resource drilling in Mauritania. The shortage of rigs in Mauritania has forced Aura to locate a rig outside of the country, but it is scheduled to arrive in the capital, Nouakchott, in November.”

Aura completed the initial drilling of calcrete mineralisation in Mauritania earlier in 2010. The 392‐hole drill programme confirmed the presence of the widespread calcrete uranium mineralisation generally two to four metres in thickness, and locally up to six metres thickness.

Uranium grades and extent of the mineralisation were considered highly encouraging with individual one metre drill samples ranged up to 4056 ppm U3O8.

The average uranium grade of all samples with assays greater than 100ppm U3O8 cut‐off was 264 ppm for reconnaissance drill holes, and 424 ppm U3O8 for closespaced drilling.

The percentage of holes with greater than 100ppm U3O8 in the 16 square kilometres tested was 46%.

Aura drill tested less than half of its known target areas in areas with existing radiometrics in the previous drill programme.

Aura’s target of 40 to 60million pounds of U3O8 at an average grade of 300 to 450 ppm in its permits has been supported by the first phase of drilling.

On October 20, Aura increased its position in Mauritania by purchasing a 100% interest in GCM Resources’s (LON: GCM) subsidiary, GCM Africa Uranium Limited, which holds all of GCM’s interests in the joint venture permits with Aura in West Africa.

The acquisition established Aura as one of the largest landowners in Mauritania and covers three key permits in the northeast of the country.

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