Aura Energy delivers new uranium mineralisation at Tiris

(via NewsDirect)

Aura Energy Ltd (ASX:AEE) managing director and CEO Andrew Grove joins Proactive’s Jonathan Jackson to discuss developments at the Tiris Uranium Project in Mauritania. Grove shares promising results from the company’s phase one drilling program signalling extensive new uranium mineralisation. He provides an overview of the phase one program, which has not only revealed significant new mineralisation but also highlighted the potential for substantial resource growth, beyond the initial estimate of 58.9 million pounds of U3O8.

With high-grade mineralisation identified over a 6-square-kilometre area at Hippolyte South, the findings suggest potential extensions in multiple directions, with the area still open for exploration. Grove says phase two of the drilling program, aims to further delineate these findings and extend the mineralised trends.

Grove said: "The drilling results are excellent and clearly demonstrate the significant potential to grow the mineral resources at Tiris beyond the current 58.9 milion pounds U3O8.

“The recently released FEED study demonstrated excellent economics for a low‐cost 2 million pounds U3O8 per annum near-term uranium mine with a 17‐year mine life based on the current mineral resources.

"There is significant optionality in the project design for a modest capital investment to increase the production rate to make the most of any new economic resources.”

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