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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% | 9.50 | 9.00 | 10.00 | 9.50 | 9.50 | 9.50 | 187,577 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Uranium-radium-vanadium Ores | 0 | -6.49M | -0.0110 | -16.36 | 106.65M |
TIDMAURA
RNS Number : 0005J
Aura Energy Limited
14 August 2019
14 August 2019
Häggån Vanadium DRILLING RESULTS
CONFIRM HIGH GRADE ZONE
DRILLING INTERCEPTED GRADES IN EXCESS OF 0.6% V(2) O(5)
Scoping study continues to progress well
battery initiative and separate listing
options remain active
Aura Energy Limited (AEE; ASX, AURA; AIM) is pleased to advise that drill assay results on the Häggån Vanadium Project have confirmed the high grade and continuous nature of the Häggån vanadium mineralistion.
To enable finalisation of the Häggån Vanadium Project Scoping Study infill drilling was carried out to achieve a Measured and Indicated Resource for Häggån.
The drilling not only confirmed the High Grade Zone but also intersected several areas of mineralisation with grades in excess of 0.6% V(2) O(5) . This very positive and unexpected outcome provides good potential for higher grade areas to be mined within the existing zone or in other zones within the broad Häggån Resource.
The most significant results[1] were as follows;
-- 103 metres at 0.41 % V2O5 in hole 19DDHG085 -- 101 metres at 0.43 % V2O5 in hole 19DDHG089, including 68 metres at 0.5% V2O5 -- 93 metres at 0.41 % V2O5 in hole 19DDHG084 -- 78 metres at 0.43 % V2O5 in hole 19DDHG083 -- 71 metres at 0.43 % V2O5 in hole 19DDHG080 -- 54 metres at 0.45 % V2O5 in hole 19DDHG090
Drilling consisted of 2930 metres of diamond drilling in 22 drillholes to test the top 140 metres of vanadium mineralisation. The drilling was conducted during the Swedish winter months. Following corelogging, density determination, cutting and sampling, assay results have now been received.
The assay data is currently with Aura's resource consultants who are in the process of completing a re-estimation of the Häggån poly-metallic resource.
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 1: Location of Häggån Project
Peter Reeve, Aura's Executive Chairman, commented "This drilling has confirmed our expectations in this high grade zone. We are very pleased with the thickness and continuity of these high vanadium grade intersections and the positive implications this has for the operating, and particularly mining, phase of the the Häggån Vanadium Project".
"The current High Grade Zone remains open for expansion and there is also the potential for repeat zones of a similar grade", he continued.
The recent drilling program was designed to upgrade a sufficient portion of the resource to Measured and Indicated status in order to comply with JORC and ASX guidelines.
Importantly this drilling has not defined the limits of the higher grade zone either laterally or at depth providing potential for the High Grade Vanadium Zone to be extended.
Depth to the top of the mineralisation in the 28 drillholes in this high grade zone averaged 27 metres which confirms the low stripping ratio of the future/planned mining operation.
The area covered by the recent drilling in this high grade zone covers only a small portion of the giant Häggån Resource (See Figure 2) leaving potential for repeats of the current zone to be discovered within proximity of the current resource.
All major technical work for the Häggån Scoping Study has now been completed as per schedule with the final report being assembled currently. The Haggan Scoping Study will be released in September, coinciding with the opening of business and close of the holiday period in Europe and Sweden.
Aura continues to review the potential for an IPO of the Häggån Vanadium Project and this activity remains current however somewhat dependent on the current turbulent market conditions. Similarly, the initiative to incorporate battery manufacturing remains active and discussions remain ongoing.
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 2: Aura Tenements and location of the Northwest High-grade Zone in the Häggån resource
Aura's Häggån deposit currently has an Inferred Resource of 800 million lbs at 0.42% V2O5[2] (at a 0.4% lower cutoff - refer Table 1). Refer Aura ASX announcement of 23 May 2018 : New Resource Estimate - Haggan Battery Metals project.
Table 1: Häggån Inferred Resource
V(2) Tonnes V(2) V(2) Ni (ppm) Zn (ppm) Mo (ppm) U(3) O(5) (Million) O(5) O(5) O(8) Cut-off % Billion (ppm) % lbs 0.40% 90 0.42% 0.8 400 550 220 160 ----------- ------ --------- --------- --------- --------- ------- 0.30% 900 0.35% 7.0 370 500 230 170 ----------- ------ --------- --------- --------- --------- ------- 0.20% 1,950 0.30% 12.8 330 440 210 160 ----------- ------ --------- --------- --------- --------- ------- 0.10% 2,600 0.26% 15.1 300 400 200 150 ----------- ------ --------- --------- --------- --------- -------
The recent infill drill pattern shown in Figure 3, illustrates that the majority of the high grade vanadium resource is in area already cleared.
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 3: Häggån Northwest High Grade Zone - drillhole layout
A number of intersections achieved well above the average resource grade with a number of these above 0.6% V(2) O(5) as shown below in Figure 4 and Table 2.
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 4: Häggån mineralisation. The top 3 rows of core (to 38 metres) average 0.61% V(2) O(5)
Table 2: Drillhole location details
Drillhole From To Thickness V2O5 grade Hole collar location RL ----------------------- (m) (m) (m) % Easting* Northing* (m) --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG085 34.5 137.3 103 0.41% 462,801 6,990,400 361 --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG089 20.2 121.5 101 0.43% 462,700 6,990,298 362 --------- ------------ ---------- ----------- --------- ------------ ------ incl 20.2 88.0 68 0.50% " " " --------- ------------ ---------- ----------- --------- ------------ ------ incl 24.0 26.0 2 0.64% " " " --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG084 19.0 112.0 93 0.41% 462,716 6,990,400 359 --------- ------------ ---------- ----------- --------- ------------ ------ incl 22.0 24.0 2 0.65% " " " --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG083 4.3 82.0 78 0.43% 462,608 6,990,494 359 --------- ------------ ---------- ----------- --------- ------------ ------ incl 6.0 8.0 2 0.61% " " " --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG080 27.1 98.0 71 0.43% 462,703 6,990,501 358 --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG090 8.2 62.0 54 0.45% 462,597 6,990,313 362 --------- ------------ ---------- ----------- --------- ------------ ------ 17DDHG069 60.0 62.0 2 0.60% 462,294 6,990,391 365 --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG078 12.0 14.0 2 0.61% 462,611 6,990,387 361 --------- ------------ ---------- ----------- --------- ------------ ------ 19DDHG091 34.0 38.0 4 0.61% 462,507 6,990,318 364 --------- ------------ ---------- ----------- --------- ------------ ------ " 42.0 44.0 2 0.60% " " " --------- ------------ ---------- ----------- --------- ------------ ------
*Coordinate system is SWEREF99 TM, the standard Swedish system
All holes collared vertical
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 5: Häggån Vanadium Resource block plan at 50 metres depth
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Figure 6: Häggån Vanadium Resource cross section
http://www.rns-pdf.londonstockexchange.com/rns/0005J_1-2019-8-14.pdf
Plate 1: Diamond drilling in -20 C temperature - Häggån winter drilling
For further information please contact:
Mr Peter Reeve
Executive Chairman
Phone +61 (0)3 9516 6500
info@auraenergy.com.au
Competent Persons
The Competent Person for drill hole data, cut-off grade and prospects for eventual economic extraction is Mr Neil Clifford. The information in the report to which this statement is attached that relates to drill hole data, cut-off grade and prospects for eventual economic extraction is based on information compiled by Mr Neil Clifford. Mr Clifford has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking. This qualifies Mr Clifford as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Clifford is an independent consultant to Aura Energy. Mr Clifford is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Clifford consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Aura Energy Limited Telephone: +61 (3) 9516 6500 Peter Reeve (Executive Chairman) info@auraenergy.com.au WH Ireland Limited Telephone: +44 (0) 207 220 (Nominated Adviser and Joint Broker) 1666 Adrian Hadden James Sinclair-Ford SP Angel Corporate Finance LLP (Joint Broker) Telephone: +44 (0) 203 470 Ewan Leggat 0470 Jamie Spotswood Yellow Jersey PR Limited Telephone: +44 (0) 7769 325 Felicity Winkles 254 Joe Burgess
JORC Code (2012 Edition) - Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of The 2018 Häggån resource sampling (e.g. cut estimate was based on several drilling channels, random chips, or campaigns: specific specialised * 2008: 3453m in 17 diamond drillholes industry standard measurement tools appropriate to the * 2010: 5091m in 25 " minerals under investigation, such as down hole * 2011: 2279m in 10 " gamma sondes, or handheld XRF instruments, etc). These examples should not * 2012: 2226m in 14 " be taken as limiting the broad meaning of sampling. * 2015: 149m in 1 " Include reference to measures taken to ensure sample representivity and * 2017: 374m in 2 " the appropriate calibration of any measurement tools * 2018/19: 2929m in 22 " or systems used. Aspects of the determination of mineralisation that are All drill samples were obtained by diamond Material to the Public drilling. Drillcore samples were provided Report. to ALS In cases where 'industry Laboratories core sawing and for sample standard' work has been preparation and analysis. done this would be The Alum Shale, host to the mineralisation relatively simple (e.g. has a relatively consistent content of the 'reverse circulation target drilling was used to metals. obtain 1 m samples from Sample interval in most cases was 2m which 3 kg was pulverised except where there was a lithological to produce a 30 g charge contact. Each lithology for fire assay'). In other was sampled separately. Sample was dried cases more explanation may at 105degC, then crushed to 70% -6 mm be required, using ALS-Chemex such as where there is method Prep22. 100 g was split using a coarse gold that has riffle splitter by method SPL21, followed inherent sampling by fine pulverizing problems. Unusual to 85% less than 75 micron by method commodities PUL31. or mineralisation types 10-20 grams of pulp subsample were (e.g. submarine nodules) dispatched to ALS in Ireland for ICP may warrant disclosure of multi-element analysis. detailed information. Drilling techniques Drill type (e.g. core, Diamond drill core; standard tube; all but one hole were reverse circulation, drilled vertically open-hole hammer, rotary All holes were drilled with BQTQ (core diameter 47mm) air blast, auger, Bangka, All holes were surveyed downhole for direction at usually sonic, etc) and details 3m intervals. The holes show minimal (e.g. core diameter, downhole deviation , with a maximum location error at the triple or standard tube, bottom of a hole of c. 6m. depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drill sample recovery Method of recording and Any core loss is marked by the drillers and then recorded assessing core and chip in the log by the geologist. sample recoveries and The Alum Shale, host to the mineralisation, consistently results assessed. has recoveries of +95%. In addition Measures taken to maximise the material has relatively consistent values of the target sample recovery and ensure metals. representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Logging Whether core and chip Core was aligned and checked for continuity and marked out samples have been in one meter intervals. It was geologically and checked for drill bit marking as bit matrices are known to geotechnically logged to a contain molybdenum. Comments were level recorded in the database regarding the presence of bit of detail to support marks. appropriate Mineral Core was geologically logged recording lithology, Resource estimation, oxidation, mineralogy (where possible), mining studies and texture & structure and scanned with a handheld metallurgical scintillometer. Down hole depth intervals studies. were recorded with an accuracy of 20 cm. Whether logging is All core was photographed. qualitative or All core was geologically logged. quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. Sub-sampling techniques If core, whether cut or Core was sawn in half using a core saw. and sample preparation sawn and whether quarter, All drill holes were diamond drill holes. half or all core taken. * Half core was taken using a sample interval of 2 m.
If non-core, whether Sample was dried at 105degC, then crushed to 70% -2 riffled, tube sampled, mm using ALS method Prep22. 100 g was split using a rotary split, etc and riffle splitter, followed by fine pulverizing to 85% whether sampled wet or less than 75 micron by method PUL31. dry. For all sample types, the nature, quality and * 10-20 grams of pulp subsample were dispatched to ALS appropriateness of the in Ireland for ICP analysis. sample preparation technique. Quality control procedures * Precision of sampling and analysing pulps is adopted for all considered to be within +/- 5% and acceptable for use sub-sampling stages to in resource estimation at any confidence level. maximise representivity of samples. Measures taken to ensure The grain size of the Alum Shale is extremely fine, less that the sampling is than 10 microns, and commonly around representative of the 1 micron. The uranium mineralisation is finely disseminated in-situ material throughout the shale, again at collected, a micron scale or less. Consequently the mineralisation and including for instance its host rock are very well represented results for field in the 2m samples of core collected (average sample 3.3 duplicate/second-half kg). Because of the extremely fine sampling. nature of the mineralisation each drill core sample may Whether sample sizes are contain many millions of individual appropriate to the grain grains of uranium minerals. Therefore sample size is size of the material being appropriate. sampled. Quality of assay data and The nature, quality and Because of the very fine nature of the host Alum Shale and laboratory tests appropriateness of the the mineralisation minerals, it assaying and laboratory is considered that the laboratory procedures are procedures used and appropriate for this mineralisation. The whether the technique is ICP method after 4 acid digestion is considered to give considered partial or near total assay for all resource total. elements. For geophysical tools, ALS also assayed 2 standards, 1 duplicate and 1 blank for spectrometers, handheld each batch of 40 samples as part XRF instruments, etc, the of their internal QAQC. QAQC data were inspected by Aura parameters used in before data were accepted and entered determining the analysis into the Aura database. including instrument make In addition Aura inserted 1 blank, 1 certified reference and model, reading times, sample and 1 duplicate in every 25 calibrations samples for QAQC factors applied and their Review of these QAQC results indicates acceptable levels of derivation, etc. accuracy and precision have been Nature of quality control established. procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Verification of sampling The verification of No twin holes were drilled. and assaying significant intersections The following information primary data is recorded: Collar, by either independent or alteration, assays, drilling type, alternative company Geology, Geotech, Magnetic susceptibility, mineralisation, personnel. radiometrics, samples, scintillometer, The use of twinned holes. spectrometer, structure, veining, surface samples, batch Documentation of primary details. data, data entry All logging was done by the geologist digitally in an Excel procedures, data spreadsheet. Photos of the core verification, data storage are taken after the hole was logged. Data is kept on site (physical on an external hard drive as well and electronic) protocols. as being sent by email to Aura Energy in Australia where it Discuss any adjustment to was uploaded into the independently assay data. managed EarthSQL data base. No data enters the database without verification by the Database Manager. Database managed by external contractor EarthSQL. In house copy and backup offsite. No adjustment to assay data. Location of data points Accuracy and quality of Drill hole collar locations have been surveyed by with an surveys used to locate accuracy of 20 cm. Initial location drill holes (collar and is taken during drilling with handheld GPS when the casing down-hole surveys), has been put down. trenches, mine workings All 2018/19 holes were recorded in grid system SWEREF 99 and other locations used TM, the standard Swedish projection. in Mineral Resource Holes were vertical in all cases except Hole 39. The estimation. drilling contractor conducted down hole Specification of the grid surveys for deviation using a Reflex Ex Trac survey device system used. with a reading at 3m intervals. Quality and adequacy of Downhole deviation was slight. topographic control. The 2018/19 drillholes are located on an approximate 100 m by 100 m grid with 2 holes placed centrally within the the 100m squares; exact locations depended partially on access. Topography: RL was surveyed by DGPS with an accuracy of c. 20 cm. Data spacing and Data spacing for reporting All data reported in this release is based on drilling as distribution of Exploration Results. described. Whether the data spacing The vast majority of sample intervals are 2 m in length, and distribution is except where this interval contained sufficient to establish a lithological contact, in which case each litholy was the degree of geological sampled separately. and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. Orientation of data in Whether the orientation of The mineralisation occurs in sub-horizontal sheets. It is relation to geological sampling achieves unbiased considered that vertical drilling structure sampling of possible is the most appropriate drilling orientation for this structures and mineralisation. the extent to which this is known, considering the deposit type. If the relationship between the drilling
orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Sample security The measures taken to Drillcore was collected by Aura personnel from the ensure sample security. drillsite and immediately taken and housed in Aura's local locked core shed. After logging the core was transported to ALS Laboratories facility by either Aura or ALS personnel for core sawing, sample preparation and assaying. Audits or reviews The results of any audits The site was visited during the drilling program by or reviews of sampling independent resource consultant Rupert techniques and data. Osborn of H&S Consultants who reviewed and reported favourably on procedures employed. =========================== =========================== ============================================================
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary Mineral tenement and Type, reference name/number, location and ownership including The drilling reported land tenure status agreements or material issues was located on with third parties such as joint ventures, partnerships, exploration permit overriding royalties, native title Häggån No. 1. interests, historical sites, wilderness or national park and This permit environmental settings. is held 100% in the name The security of the tenure held at the time of reporting along of Vanadis Battery with any known impediments Metals AB, a 100% owned to obtaining a licence to operate in the area. subsidiary of Aura Energy Limited. Only standard Swedish government royalties apply to these permits No native title interests are known to exist in the two permits. A small, 2 hectare Natura 2000 area occurs against the eastern boundary of Häggån No.1 permit; this area is not in the vicinity of the currently planned mining area should a project be initiated at Häggån The Häggån Nr 1 Exploration permit on which the entire resource is situated is valid until 28/8/2022. Exploration done by Acknowledgment and appraisal of exploration by other parties. The area has not been other parties explored prior to Aura Energy. Geology Deposit type, geological setting and style of mineralisation. Mineralisation at is hosted by bedded black shales of the Cambrian to Ordovician Alum Shale in tectonically or otherwise stratigraphically thickened metal enriched north-north-west striking elongated geological domains. The mineralised sequence outcrops in an area in the east of the tenement but elsewhere underlies a variably thin cover of limestone. Minor inter-beds of carbonate enriched shale or siltstone occasionally occur within the mineralised sequence. The mineralised unit overlies a mixed sequence of siltstone and massive mineralized back shale above a granitoid gneissic basement. It is interpreted that there are a series of overthrusts which have displaced and caused
thickening of Alum Shale within the resource area, and the sub-horizontal thrust sheets have influenced the grade distribution within the Häggån deposit. Drill hole Information A summary of all information material to the understanding Drillhole collar of the exploration results including locations are shown on a tabulation of the following information for all Material Figure 2 of the ASX drill holes: Announcement which this * easting and northing of the drill hole collar table accompanies. Drillhole location information for * elevation or RL (Reduced Level - elevation above sea intersections reported level in metres) of the drill hole collar is presented in Table 2. * dip and azimuth of the hole * down hole length and interception depth * hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Data aggregation methods In reporting Exploration Results, weighting averaging Grades reported are techniques, maximum and/or minimum grade simple averages over the truncations (e.g. cutting of high grades) and cut-off grades interval specified with are usually Material and should no weighting or grade be stated. truncation. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. Relationship between These relationships are particularly important in the reporting The mineralisation mineralisation widths of Exploration Results. occurs in sub-horizontal and intercept lengths If the geometry of the mineralisation with respect to the drill sheets. It is considered hole angle is known, its nature that vertical drilling should be reported. is the most appropriate If it is not known and only the down hole lengths are reported, drilling orientation for there should be a clear statement this mineralisation. to this effect (e.g. 'down hole length, true width not known'). Diagrams Appropriate maps and sections (with scales) and tabulations of Appropriate maps and intercepts should be included sections, and for any significant discovery being reported These should tabulations of include, but not be limited to a intersects, can be found plan view of drill hole collar locations and appropriate on the Aura Energy sectional views. website (www.auraenergy.com.au) or in releases to the Australian Stock Exchange (ASX), available on the ASX website. Balanced reporting Where comprehensive reporting of all Exploration Results is not . practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Other substantive Other exploration data, if meaningful and material, should be This information has exploration data reported including (but not been reported to the ASX limited to): geological observations; geophysical survey over the 10 years since results; geochemical survey results; the discovery drill bulk samples - size and method of treatment; metallurgical test hole. results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Further work The nature and scale of planned further work (e.g. tests for The results lateral extensions or depth extensions of the or large-scale step-out drilling). 2018/19 Diagrams clearly highlighting the areas of possible extensions, drilling including the main geological campaign interpretations and future drilling areas, provided this reported in information is not commercially sensitive. the ASX release to which this table is attached have been passed to independent resource consultants who will produce a resource estimate. ========================= ================================================================ =========================
[1] Refer Table 1 for further drillhole details
[2] Aura ASX announcement date 23 May 2018 : New Resource Estimate - Haggan Battery Metals project
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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