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 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.
