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Market:ASX
Sector:General Mining
EPIC:AEE
Latest Price: 0.15  (0.00%)
52-week High:0.34
52-week Low:0.13
Market Cap:22.39M
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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.

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Aura Energy to define first calcrete uranium resource in Mauritania in early 2011

Tuesday, November 30, 2010
Aura Energy to define first calcrete uranium resource in Mauritania in early 2011

A 10,000 metres air core drill program to establish the initial resource for the Aura Energy (ASX: AEE) Reguibat Project in Mauritania has commenced, after completing a 392 hole program earlier in the year, which confirmed the presence of widespread calcrete uranium mineralisation generally two to four metres in thickness, and locally up to six metres.

The current drilling program is designed to further test these areas and obtain sufficient information to estimate a JORC compliant resource for a portion of Aura’s exploration target, which comprises 40 to 60 million pounds of U3O8 at an average grade of 300 to 450 ppm.

Bob Beeson, managing director, said "We are on track to establish the first calcrete uranium resource in the country within the first half of 2011.”

The drilling program will last up to three months and in addition to the resource drilling is designed to test several radiometric anomalies on permits where drilling has already occurred, as the company has so far tested less than half of its known radiometric anomalies.

In the Ain Sder permit, a new zone containing radiometric anomalies has been identified over 10 kilometres in length, which the company said may contain additional calcrete-type uranium mineralisation.

In other Aura news, it will also drill on its new joint venture permits, Agouyme and Bir Moghrein, where Aura can earn 70% by funding and managing the exploration, with both permits having extensive uranium anomalies defined by an airborne radiometric survey and follow‐up ground surveys.

 

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