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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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Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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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.

Monday, April 20, 2009

Aura Energy finds more high grade uranium in Sweden

Aura Energy (ASX:AEE) holds several high grade uranium prospects in Sweden. The company has previously reported upon its projects at Stripa, Hakantorp and Virka.

Aura has now received assays from samples collected in 2008 at its recently acquired Timansberg Project, 15 kilometres southwest of the Stripa Project. The mineralisation is associated with magnetite iron formations and altered carbonate rocks or skarns. Old iron workings extend for approximately 250 metres in this area, and geophysical data suggest that the mineralised horizon may extend for more than a kilometre in Aura’s permit.

Assays of seven radiometrically anomalous samples from the waste dumps of the old iron mines at Timansberg indicate the high uranium contents of the mineralisation, with grades between 0.08 and 6.5% U3O8.

Aura is very encouraged by the grade of uranium in these initial assays, and the diversity of rock types that host the mineralisation. It is pleasing that the thorium levels are low, and therefore the uranium is not hosted by a refractory thorium-uranium mineral.

The rocks are also characterised by very high levels of elements which are termed the heavy rare earth elements, including europium, gadolinium, dysprosium, ytterbium and yttrium. Assays of yttrium and dysprosium in the samples are given in the table above.

These elements have specialist uses in a number of industries. For example dysprosium is used in making lasers, in control rods for nuclear reactors, and in specialised magnets. Yttrium has numerous uses, including giving the red colour in television tubes, and as microwave filters.

The majority of heavy rare earth used in the world are currently mined in China. Aura will continue assessing the potential of the Timansberg Project in the coming Northern Hemisphere summer.

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