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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Aura Energy Limited | LSE:AURA | London | Ordinary Share | AU000000AEE7 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.00 | 8.50 | 9.50 | 9.00 | 9.00 | 9.00 | 26,662 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Uranium-radium-vanadium Ores | 0 | -6.49M | -0.0110 | -15.45 | 100.72M |
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TIDMAURA
To view this release as a .pdf complete with referenced images please click the
following link:
http://www.auraenergy.com.au/investor/ASX%20Announcements/2017/
Strong%20Hippolyte%20South%20Uranium%20Survey%2019%20April%202017.pdf
19 April 2017
STRONG RESOURCE POTENTIAL AT HIPPOLYTE SOUTH INDICATED BY ULTRA DETAILED GROUND
RADIOMETRIC SURVEY
INDICATES A STRONGLY MINERALISED ZONE SIMILAR
TO HIPPOLYTE RESOURCE
A SEPARATE PROGRAM OF DOWNHOLE GAMMA LOGGING HAS PROVIDED CONFIRMATION OF
PREVIOUS U3O8 GRADES
TECHNIQUE WILL BE USED IN RESOURCE UPGRADE DRILLING TO COMMENCE SHORTLY
Aura Energy Limited (AEE; ASX, AURA; AIM) is pleased to announce that recent
field programs of both ultra-detailed ground radiometric surveying and of
downhole gamma logging have resulted in two important outcomes for the Tiris
Project currently under development by Aura Energy.
The first important outcome is that the Hippolyte South prospect which the
company pegged following the completion of the Tiris Scoping study, has been
surveyed using ultra-detailed ground radiometric methods and this has
highlighted several strongly mineralised zones larger in area than Hippolyte
Zone 1 which contains 4.6 million pound U3O8 as Inferred Resource.
In May 2015, Aura announced that it had made an application for a mineral
exploration permit over an area of 224 km2 adjoining to the south of its
important Hippolyte uranium resource.
The Hippolyte South permit area had indicated strong uranium responses in
regional airborne radiometric data, similar in strength and size to those over
Aura's nearby resources. The anomalies within this new tenement extend for
more than 15 km and cover an area of approximately 10 km2.
In 2011, Aura carried out a brief reconnaissance drilling program over these
radiometric highs as part of a possible JV arrangement over the area. This
drilling was broadly spaced with holes 200 metres apart on lines 800 metres or
more apart.
More than 25% of these reconnaissance holes intersected ore-grade
mineralisation (i.e. at least one metre at 100 ppm U3O8 or greater) with values
ranging up to 646 ppm U3O8 (see Figure 2). Details of results are set out in
Table 1.
This latest survey is the first more detailed testing of the broad mineralised
zones following the initial reconnaissance drilling and has confirmed the
confidence in the prospect and indicated large zones of continuous uranium
bearing mineralisation with strong similarities to Aura's key Hippolyte uranium
deposit.
Peter Reeve, Aura Energy's Executive Chairman said, "The indication of
potential extensions to Aura's Tiris Uranium Project resource position is
extremely pleasing and highlights that Tiris is still at an early stage in our
knowledge and understanding of the project. Tiris contains a large 49 million
pound resource of uranium but as time goes on and we refine our methods and
techniques the potential for new discovery in the Tiris field is high".
Hippolyte Downhole Logging Success
The second important outcome is that a downhole gamma logging survey was
conducted on 63 drillholes in the key Tiris Resource zone, Hippolyte Zone 1 and
has validated previous drilling and sampling of the project. This coverage is
shown in Figure 5.
The downhole gamma logging indicated U3O8 grades that compare well with grades
determined by chemical assay. Aura will proceed to utilise downhole gamma
logging in its next resource upgrade drilling which will commence next month
aimed at converting more of the Tiris Resource into Measured and Indicated
categories.
Table 1: Hippolyte South reconnaissance aircore drilling results as previously
released by Aura Energy Ltd to the Australian Stock Exchange: 27/5/2015
Table 1: Assay Results for all holes containing at least 1 metre at 100ppm U308
HoleID Easting Northing Depth Depth U3O8 HoleID Easting Northing Depth Depth U3O8
from To ppm from To ppm
10TSFAC004 682805 2805602 0 0.5 73 10TSFAC039 686804 2803200 0 0.5 13
0.5 1 106 0.5 1 19
1 2 104 1 2 33
2 3 84 2 3 358
3 4 37 3 4 206
4 5 19 4 5 47
5 6 22 5 6 20
10TSFAC010 687799 2805596 0 0.5 - 10TSFAC041 687273 2803189 0 0.5 12
0.5 1 - 0.5 1 57
1 2 46 1 2 215
2 3 26 2 2.5 48
3 4 147 10TSFAC042 687413 2803211 0 0.5 8
4 5 147 0.5 1 14
5 6 160 1 2 17
10TSFAC011 688000 2805603 0 0.5 13 2 3 320
0.5 1 156 3 4 171
1 2 25 4 5 77
2 3 32 5 6 50
10TSFAC015 682803 2805201 0 0.5 53 10TSFAC043 687623 2803201 0 0.5 73
0.5 1 53 0.5 1 646
1 2 157 1 2 356
2 3 147 2 3 364
3 4 13 3 4 167
4 5 14 4 5 70
5 6 20 5 6 8
10TSFAC017 683240 2805204 0 0.5 13 10TSFAC046 683001 2801993 0 0.5 40
0.5 1 42 0.5 1 134
1 2 337 1 2 38
2 3 93 2 3 24
3 3.5 53 10TSFAC047 683198 2801995 0 0.5 66
10TSFAC018 687000 2804799 0 0.5 13 0.5 1 106
0.5 1 28 1 2 141
1 2 468 2 3 107
2 3 585 3 4 62
3 4 347 4 5 11
4 5 118 5 6 13
5 6 68 10TSFAC048 683400 2801993 0 0.5 24
10TSFAC028 683604 2804009 0 0.5 45 0.5 1 371
0.5 1 97 1 2 180
1 2 61 2 2.5 585
2 3 123 10TSFAC049 683598 2802002 0 0.5 15
3 4 24 0.5 1 17
4 5 46 1 2 173
5 6 33 2 3 450
10TSFAC035 686001 2803207 0 0.5 9 3 4 367
0.5 1 15 4 5 31
1 2 18 5 6 45
2 3 51 10TSFAC050 683803 2802000 0 0.5 9
3 4 251 0.5 1 9
4 5 421 1 2 246
5 6 393 2 3 88
10TSFAC038 686604 2803197 0 0.5 17 10TSFAC056 683800 2801200 0 0.5 64
0.5 1 22 0.5 1 271
1 2 40 1 2 138
2 3 604 2 2.5 22
3 4 189 10TSFAC079 684000 2797600 0 0.5 6
4 5 145 0.5 1 67
5 6 124 1 2 251
2 3 218
3 3.5 6
Indicated and Inferred Resources for the Tiris Project at a 100ppm U3O8 cut-off
grade
Cut-off grade Tonnes Grade (ppm) Mlb U3O8
Total Indicated 100 66 334 49
& Inferred
Indicated 100 2 300 2
Inferred 100 64 335 47
Competent Person
Dr Robert Beeson has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which he is undertaking. This qualifies Dr Beeson as a Competent Person as
defined in the 2012 edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'. Dr Robert Beeson
consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears. Dr Beeson is a member of the
Australian Institute of Geoscientists.
The information related to resources for the Tiris Project is extracted from
the report given below in this document. This report is available to view on
the company's website www.auraenergy.com.au. The company confirms that it is
not aware of any new information or data that materially affects the
information included in the original market announcements. The company confirms
that the form and context in which the Competent Person's findings are
presented have not been materially modified from the original market
announcement. This information was prepared and first disclosed under the JORC
code 2004. It has not been updated to comply with the JORC Code 2012 on the
basis that the information has not materially changed since it was reported.
Aura Energy Ltd release to the Australian Stock Exchange: First uranium
resource in Mauritania, 19/07/2011
For more information please visit www.auraenergy.com.au or contact the
following:
Aura Energy Limited Telephone: +61 (3) 9516 6500
Peter Reeve (Executive Chairman) info@auraenergy.com.au
WH Ireland Limited Telephone: +44 (0) 207 220 1666
Adrian Hadden
James Bavister
Yellow Jersey PR Limited Telephone:
Felicity Winkles +44 (0) 7748 843 871
Joe Burgess +44 (0) 7769 325 254
END
(END) Dow Jones Newswires
April 19, 2017 02:54 ET (06:54 GMT)
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