RSS UpdatesCompany Information for Aura Energy
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 ASX; AEE
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Company Statement
Aura Energy (ASX: AEE, "Aura") is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company believes demand for uranium will steadily increase and its projects are well positioned to meet some of that demand. Aura is focusing on two main projects: the Storsjön Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world; and the highly prospective Reguibat Province in Mauritania. The Company plans to announce a maiden inferred JORC for its Storsjön Project in Q3 2010 and establish a JORC for its Reguibat Project in Q1 2010.
Current Operations
Sweden
Aura Energy’s main projects in Sweden are based on the Alum Shales, which have been historically known as one of the largest depositories of uranium in the world. Uranium was mined and extracted from the Shales in the 1960s.The mineralisation contains significant amounts of molybdenum, vanadium and nickel.
Storsjön Project
Storsjön Project in Brief
Ownership: 100% Aura
Location: Storsjön District in Sweden
Coverage Area: 110 km2
Exploration Target: 800 to 1200 million pounds U3O8
Assay Test Results: Average grade of 150 ppm to 200 ppm U3O8
Status: Developing a JORC compliant resource by the end of July 2010
In April 2010, Aura’s drilling programme at its Storsjön Project indicated additional thick sequences of mineralisation outside previous drill areas. Every drill hole in the 18 km2 Häggån permit intersected uranium mineralisation, at between 20 and 250 metres thickness.
Virka Project
Virka Project in Brief
Ownership: 100% Aura
Location: Resource-rich Norrbotten area in Northern Sweden
Coverage Area: 27.24 km2
Assay Test Results: Confirmed presence of high grade mineralisation
Status: Drill programme planned for early 2011
Aura’s wholly owned Virka Project covers 27.24 km2 and is located in the resource rich Norrbotten area of Northern Sweden. The project lies approximately 45 km southeast of the 20+ million pounds Pleutajokk Uranium Deposit in northern Sweden and approximately 50 km northwest of Arvidsjaur and the Arvidsjaur uranium province. High grade mineralisation from earlier drilling still needs to be further evaluated.
Kallsedet Project
Kallsedet Project in Brief
Ownership: 100% Aura
Location: near Kallsedet, Sweden, close to the Norwegian border
Coverage Area: 147 km2
Assay Test Results: Average of 100 to 233 ppm U3O8
Status: Drilling programme to test Alum Shale at depth is planned for early 2011
Aura’s wholly owned Kallsedet Project covers 147km2 near Kallsedet, close to the Norwegian border. Kallsedet was explored by the Swedish government in the 1970s, when they found good grades of uranium, although at lesser thicknesses than at Häggån.
West Africa
Aura Energy has exploration permits and applications in three regions in West Africa: the Reguibat Craton in Mauritania, the Mauritanide Fold belt in Mauritania, and the Tim Mersoi Basin in Niger.
The West African region hosts several world class uranium mines. The Tim Mersoi Basin in Niger is one of the world’s major uranium producing regions. The Reguibat Craton area in Northern Mauritania is shaping up as a major emerging uranium province.
Aura is currently active in Mauritania on nine granted exploration permits covering over 8,000 km2. Exploration activities on all permits are managed by Aura.
Reguibat Craton Project, Mauritania
Reguibat Craton Project in Brief
Ownership: Aura currently holds eight granted exploration permits: three permits are 100% Aura, three permits in joint venture with GCM Resources where Aura is earning a minimum of 61% to 64% by sole funding exploration and evaluation and two permits in joint venture with Ghazal Minerals Limited where Aura is earning 70%
Location: Reguibat Craton in Northern Mauritania
Area held: approximately 7000 km2
Exploration Target: 40 to 60 million pounds of U3O8
Assay Test Results: Average grade of 300 to 450 ppm U3O8
Status: Resource definition activities to develop a JORC compliant resource statement will resume as soon as weather permits in the third quarter of 2010, together with ongoing exploration to extend the known mineralisation
Fai Project, Mauritania
FaI Projects in Brief
Ownership: Aura is earning a minimum of 58% in the joint venture with GCM Resources
Location: Mauritanide Fold Belt in Central Mauritania
Coverage Area: 2900 km2
Assay Test Results: 140 ppm U3O8 in near surface gravels associated with very strong airborne radiometric anomalies
Status: Drill programme planned for second half of 2010
The Fai Project is located in the Mauritanide Fold Belt in Central Mauritania and covers 2900 km2. This well located area lies 250 km east of Nouakchott, Mauritania’s capital. Access to the area is good, and a previous Paris-Dakar Rally route runs through the permit. The project currently consists of one granted permit in joint venture with GCM Resources. Aura is earning a minimum of 58% interest in the granted permit by sole funding exploration, and can earn a higher interest if the partner continues to elect to reduce its interest.
Tim Mersoi Basin Applications, Niger
Tim Mersoi Basin Applications in Brief
Ownership: 100% Aura
Location: Northwest Niger
Coverage Area: 1500 km2
Status: Permit applications lodged and awaiting grants
Aura’s wholly owned Tim Mersoi Basin applications are located in Northwest Niger and cover 1500 km2. The Tim Mersoi Basin area is one of the world’s major uranium producing areas.
Australia
Aura Energy has three projects in Western Australia: Wondinong, Gunbarrel and Porcupine Well Prospect. Legislation has recently been passed to allow uranium mining in Western Australia.
Wondinong Project
Wondinong Project in Brief
Ownership: 100% Aura
Location: Eastern shore of Lake Austin near Mount Magnet in Western Australia
Coverage Area: 51.5 km2
Assay Test Results: JORC compliant inferred resource of seven million pounds of U3O8 at 100 ppm cut-off grade
Status: 72 hole drill programme permitted
Aura’s wholly owned Wondinong Project is located on the eastern shore of Lake Austin near Mount Magnet in Western Australia and covers 51.5 km2. This project was first discovered by Western Mining Corporation (WMC) in the 1970s. Aura acquired the project in 2006. Subsequent exploration by Aura Energy has expanded the known mineralisation into a significant deposit. The Wondinong Project has a JORC compliant inferred resource of seven million pounds of U3O8 at 100 ppm cut-off grade. There is potential to increase the inferred resource via further in-fill drilling and untested extensions to the south and west. The main mineralisation occurs as a thin sheet, the top of which is between 0.3 and 2.4 metres below the current ground surface, with a second deeper zone developed between 3.5 and 4.5 metres on the north-western edge of the deposit.
Gunbarrel Project
Gunbarrel Project in Brief
Ownership: 100% Aura
Location: Yilgarn Craton in the far east of Western Australia
Coverage Area: 3287.7 km2
Assay Test Results: 85 to 147 ppm U3O8 from chemical analysis
Status: Seeking potential partners to begin a drilling programme
Aura’s wholly owned Gunbarrel Project is located on the Yilgarn Craton in the far east of Western Australia and covers 3287.7 km2. In the early 1980s, PNC and Uranex explored the Gunbarrel tenements. From the early 1980s to 2005, no further exploration was conducted. In 2005, Aura acquired the project.
Focus is on Aura’s large palaeochannels, as several resources have been defined in the basin at similar locations. Approximately 100 million pounds U3O8 have been discovered in other channels in the region. Including: Mulga Rock 24,520 tonnes contained U3O8 (Energy and Minerals Australia) and Ponton 4,960 tonnes contained U3O8 (Manhattan). Drilling has identified uranium mineralisation in two of the palaeochannels. Initial drilling in July 2009 intersected 14 metres of radiometric anomalism in a hole, which contained two metres at 147 ppm U3O8 from gamma logging, and two metres at 85 ppm U3O8 from chemical analysis.
Porcupine Well Prospect
Porcupine Well Prospect in Brief
Ownership: 100% Aura
Location: South East of Wiluna, WA
Coverage Area: 52.5 km2
Assay Test Results: Samples below 1.5 metres contain values above 67 ppm U308
Status: Drilled 50 air core holes. Holes will be sampled and radiometrically logged with results expected in July 2010.
Porcupine Well is located midway between the Lake Way/Centipede and the Lake Maitland deposits in Western Australia’s major calcrete uranium region and covers 52.5 km2. Toro Energy has a 23.9 million pounds U308 resource at Lake Way/Centipede with average grades of over 500 ppm and recently purchased a newly discovered zone of mineralisation located a few kilometres from Porcupine Well. Mega Uranium has a 23.7 million pounds U308 resource at Lake Maitland.
Geographical Spread
Sweden, West Africa and Australia
Board of Directors and Key Management
| Brett Fraser | Chairman |
| Bob Beeson | Managing Director |
| Jay Stephenson | Non Executive Director and Company Secretary |
| Simon O’Loughlin | Non Executive Director |
Company AddressUnit 6, 34 York Street
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Major Shareholders
| 7,939,993 | 9.54 | GCM RESOURCES PLC |
| 7,921,434 | 9.52 | UBS NOMINEES PTY LTD |
| 3,550,000 | 4.27 | DRAKE RESOURCES LIMITED |
| 2,300,000 | 2.76 | WALKER GROUP HOLDINGS PTY LTD |
| 2,000,000 | 2.40 | MRS JENNY LEE BUSHELL |
| 1,350,000 | 1.62 | YARANDI INVESTMENTS PTY LTD |
| 1,300,000 | 1.56 | SUVALE NOMINEES PTY LTD |
| 1,210,100 | 1.45 | MR VIKTOR PALL + MRS MARGIT PALL |
| 1,200,000 | 1.44 | FINANCE ASSOCIATES PTY LTD |
| 1,150,000 | 1.38 | ASHABIA PTY LTD |
Related News
25/08/10 - Aura Energy Gets To Work On The Metallurgy At Storsjon, The World’s Seventh Largest Undeveloped Uranium DepositMost Recent Statement
21/07/10 - Significant initial resource of 291M pounts at Storsjon06/07/10 - Swedish assays confirm thick, continuous mineralisation
15/06/10 - Strong Uranium Mineralisation on New Mauritania Permits
20/05/10 - Drilling commences at Porcupine Well uranium target in WA
17/05/10 - Assays from Storsjon identify major new uranium intersection
13/05/10 - Aura Secures High Potential Uranium Permits in Mauritania