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 drilling confirms high grade calcrete uranium mineralisation in Mauritania
Aura Energy (ASX: ASX) has received encouraging results from the initial resource drilling program at the Reguibat Project in Mauritania, confirming the extensive nature of the calcrete uranium mineralisation.
High grade intercepts from the first batches of assays include:
- 4.5 metres at 1863 parts per million (ppm) uranium (U3O8);
- 3m at 1312ppm U3O8; and
- 3m at 1417ppm U3O8.
Mineralisation starts at or close to the ground surface with local mineralisation up to 8 metres in thickness. The assay results indicate the presence of strong mineralisation within Aura's targeted areas and more results are expected shortly.
The drilling program commenced in November 2010 and was completed in February with 2,169 holes being drilled, covering all of Aura’s wholly owned permits as well as its joint venture permits totaling over 9100 metres.
Of the holes drilled 2,022 were within the Reguibat Project and underpin its potential, supporting the presence of broad areas of mineralisation.
Dr. Bob Beeson, Aura’s managing director, said “calcrete uranium mineralisation has low mining costs as it is close to the ground surface, with low strip ratios."
"We have put trenches and pits into many of our mineralised areas, so we know that it is easy to excavate. We do not anticipate having to use drill and blast mining techniques.”
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.
The Reguibat Craton area in Northern Mauritania is emerging as a major emerging uranium province.
In December 2010 Aura placed 17,229,000 shares at $0.23 per share to raise about A$3.96 million to further the development of the company’s Swedish and Mauritanian projects.
