www.auraenergy.com.au
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. The company aims to create shareholder value by rapidly establishing resources and then completing feasibility studies on these two projects. Aura Energy is headquartered in Melbourne, Australia and has been listed on the ASX since May 2006.
Aura Energy drilling unveils second major uranium field in Sweden
The extensive uranium mineralisation identified at the Kallsedet project provides potential for Aura to establish another significant deposit in Sweden.
Aura Energy (ASX: AEE) has identified extensive uranium mineralisation from an initial drilling program on its Kallsedet project, providing a boost to Aura’s strategy to develop a pipeline of uranium projects in Sweden.
The four hole diamond drilling program for a total of 419 metres revealed thick mineralised intersections of 66 metres at 144 parts per million (ppm) uranium (U3O8) and 60 metres at 144 ppm U3O8 including 6m at 224ppm U3O8.
Aura is continuing its evaluation of these promising results which confirm the widespread occurrence of uraniferous shale in the project area and the potential for Aura to establish another significant deposit in Sweden.
Three holes were drilled on the Olden permit and one hole on the Hamborg permit. Both permits are wholly-owned by Aura.
The company said the early results met the high expectations Aura had for the project area.
Dr Bob Beeson, Aura Energy’s managing director, said “we are pleased that the drilling results confirmed our belief that the project area holds large developments of thick uranium mineralisation.
“The thicknesses of mineralisation found in our drilling were greater than the surface mapping indicated”.
Aura has substantial landholding covering the uraniferous Alum Shale near Kallsedet, close to the Norwegian border.
Aura holds 90 square kilometres of permits with the Kallsedet Project and believes that significant proportions of this area are underlain by mineralised Alum Shale.
The next step for Aura is to undertake further drilling to explore the potential of the outcropping alum shale in Aura Energy’s permit zones.
Aura has resources of 291 million pounds of U3O8 in its Häggån Project some 120 km southeast of Kallsedet.
On April 18 Aura completed an 11 hole drill program on the western side of its main permit at Häggån and expects a substantial extension to the resource once assays are received in May.
Importantly, the technological advances that Aura is making for developing options for the economic processing of the Alum Shale at Häggån can be applied to the Kallsedet Project.
Häggån is amongst the ten largest uranium resources in the world, yet the existing JORC first inferred resource of 291 million pounds of uranium (U3O8) is based on only 5% of the permit area, mainly in the eastern side, highlighting the projects resource upside potential.
Results will enable Aura to understand the alternatives for scoping study work on the uranium-molybdenum-vanadium project due to be completed later this year.
