Aura Energy Limited’s (ASX Code AEE, “Aura”) confidence in the greenfields Reguibat Project in Mauritania has been confirmed by the announcement of the first JORC-code compliant resource.
The Inferred Resource of 50.2 million pounds at 330ppm U3O8 on the Reguibat Project was based on a cut-off grade of 100ppm U3O8 (Table 1). 48.9 million pounds of this resource are contained in permits 100% held by Aura.
The Reguibat Project comprises several, laterally extensive developments of calcrete uranium mineralisation in northern Mauritania, and confirms that the area is now a major emerging uranium province.
The resource was estimated from results of two drilling programmes, the most recent being completed between November 2010 and February 2011.
Drilling covered all of Aura’s wholly owned permits, as well as its joint venture permits, and totaled over 9,100 metres in 2,022 holes.
Final assay results were released on 1 July, 2011 as Aura continues to deliver on its development strategy forWest Africa. This new resource has Aura now holding a total of 348 mineral pounds.