Aura Energy Limited (AEE:ASX, AIM:AURA) (Aura Energy), an Australian-based minerals company and operator with an 85% interest in the Tiris Uranium Project, has announced a Resource Upgrade of 10% or 5.0 million lb U3O8 for the Company’s Tiris Uranium Project in Mauritania.
This brings the total JORC Resource to 56 Mlbs at a grade of 254 ppm U3O8 (at a 100 ppm U3O8 lower cut-off grade). 2.4 Mlbs U3O8 of the total 5.0 million lb U3O8 Resource Upgrade is classified as Indicated Resource with the remainder as Inferred Resource.
The Tiris Uranium Project is a major greenfield mine located approximately 680km from the nearby town of Zouerat and 1 440km from the Mauritanian Capital, Nouakchott. The Resource Upgrade follows Aura recently commissioning a new resource estimate on the Sadi South Zone to incorporate drillholes not included in earlier resource estimates.
Prior to the Resource Upgrade, the Tiris Uranium Project held a Resource of 50.6 Mlbs U3O8 at a grade of 254 ppm U3O8 (at a 100 ppm U3O8 lower cut-off grade), including 38.4 Mlbs at 343 ppm U3O8 (at a 200 ppm U3O8 lower cut-off grade).
Aura Energy is currently planning further exploration and drilling programmes for Tiris. The Company’s Managing Director and CEO, Peter Reeve, commented, “We are very excited by this Resource Upgrade at the Tiris Uranium Project, as it confirms our belief that the Resource will continue to increase in size as further exploration work is undertaken.”
Source: //auraenergy.us.1,list-manage,com 2021.08.27 AEE – Tiris Resource Upgrade (v3) (mcusercontent.com)