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19 April
2017
STRONG RESOURCE
POTENTIAL AT HIPPOLYTE SOUTH INDICATED BY ULTRA DETAILED GROUND
RADIOMETRIC SURVEY
INDICATES A STRONGLY MINERALISED
ZONE SIMILAR
TO HIPPOLYTE RESOURCE
A SEPARATE PROGRAM
OF DOWNHOLE GAMMA LOGGING HAS PROVIDED CONFIRMATION OF PREVIOUS
U3O8 GRADES
TECHNIQUE WILL BE
USED IN RESOURCE UPGRADE DRILLING TO COMMENCE SHORTLY
Aura Energy Limited (AEE; ASX, AURA; AIM) is pleased to
announce that recent field programs of both ultra-detailed ground
radiometric surveying and of downhole gamma logging have resulted
in two important outcomes for the Tiris Project currently under
development by Aura Energy.
The first important outcome is that the Hippolyte South prospect
which the company pegged following the completion of the Tiris
Scoping study, has been surveyed using ultra-detailed ground
radiometric methods and this has highlighted several strongly
mineralised zones larger in area than Hippolyte Zone 1 which contains 4.6 million
pound U3O8 as Inferred Resource.
In May 2015, Aura announced that
it had made an application for a mineral exploration permit over an
area of 224 km2 adjoining to the south of its important
Hippolyte uranium resource.
The Hippolyte South permit area had indicated strong uranium
responses in regional airborne radiometric data, similar in
strength and size to those over Aura's nearby resources. The
anomalies within this new tenement extend for more than 15 km and
cover an area of approximately 10 km2.
In 2011, Aura carried out a brief reconnaissance drilling
program over these radiometric highs as part of a possible JV
arrangement over the area. This drilling was broadly spaced
with holes 200 metres apart on lines 800 metres or more apart.
More than 25% of these reconnaissance holes intersected
ore-grade mineralisation (i.e. at least one metre at 100 ppm U3O8
or greater) with values ranging up to 646 ppm
U3O8 (see Figure 2). Details of results
are set out in Table 1.
This latest survey is the first more detailed testing of the
broad mineralised zones following the initial reconnaissance
drilling and has confirmed the confidence in the prospect and
indicated large zones of continuous uranium bearing mineralisation
with strong similarities to Aura’s key Hippolyte uranium
deposit.
Peter Reeve, Aura Energy's
Executive Chairman said, “The indication of potential
extensions to Aura’s Tiris Uranium Project resource position is
extremely pleasing and highlights that Tiris is still at an early
stage in our knowledge and understanding of the project. Tiris
contains a large 49 million pound resource of uranium but as time
goes on and we refine our methods and techniques the potential for
new discovery in the Tiris field is high”.
Hippolyte Downhole Logging Success
The second important outcome is that a downhole gamma logging
survey was conducted on 63 drillholes in the key Tiris Resource
zone, Hippolyte Zone 1 and has
validated previous drilling and sampling of the project. This
coverage is shown in Figure 5.
The downhole gamma logging indicated U3O8
grades that compare well with grades determined by chemical
assay. Aura will proceed to utilise downhole gamma logging in
its next resource upgrade drilling which will commence next month
aimed at converting more of the Tiris Resource into Measured and
Indicated categories.
Table 1:
Hippolyte South reconnaissance aircore drilling results as
previously released by Aura Energy Ltd to the Australian Stock
Exchange: 27/5/2015
Table 1: Assay Results for all holes containing at least 1 metre
at 100ppm U308
HoleID |
Easting |
Northing |
Depth from |
Depth To |
U3O8 ppm |
|
HoleID |
Easting |
Northing |
Depth from |
Depth To |
U3O8 ppm |
10TSFAC004 |
682805 |
2805602 |
0 |
0.5 |
73 |
|
10TSFAC039 |
686804 |
2803200 |
0 |
0.5 |
13 |
|
|
|
0.5 |
1 |
106 |
|
|
|
|
0.5 |
1 |
19 |
|
|
|
1 |
2 |
104 |
|
|
|
|
1 |
2 |
33 |
|
|
|
2 |
3 |
84 |
|
|
|
|
2 |
3 |
358 |
|
|
|
3 |
4 |
37 |
|
|
|
|
3 |
4 |
206 |
|
|
|
4 |
5 |
19 |
|
|
|
|
4 |
5 |
47 |
|
|
|
5 |
6 |
22 |
|
|
|
|
5 |
6 |
20 |
10TSFAC010 |
687799 |
2805596 |
0 |
0.5 |
- |
|
10TSFAC041 |
687273 |
2803189 |
0 |
0.5 |
12 |
|
|
|
0.5 |
1 |
- |
|
|
|
|
0.5 |
1 |
57 |
|
|
|
1 |
2 |
46 |
|
|
|
|
1 |
2 |
215 |
|
|
|
2 |
3 |
26 |
|
|
|
|
2 |
2.5 |
48 |
|
|
|
3 |
4 |
147 |
|
10TSFAC042 |
687413 |
2803211 |
0 |
0.5 |
8 |
|
|
|
4 |
5 |
147 |
|
|
|
|
0.5 |
1 |
14 |
|
|
|
5 |
6 |
160 |
|
|
|
|
1 |
2 |
17 |
10TSFAC011 |
688000 |
2805603 |
0 |
0.5 |
13 |
|
|
|
|
2 |
3 |
320 |
|
|
|
0.5 |
1 |
156 |
|
|
|
|
3 |
4 |
171 |
|
|
|
1 |
2 |
25 |
|
|
|
|
4 |
5 |
77 |
|
|
|
2 |
3 |
32 |
|
|
|
|
5 |
6 |
50 |
10TSFAC015 |
682803 |
2805201 |
0 |
0.5 |
53 |
|
10TSFAC043 |
687623 |
2803201 |
0 |
0.5 |
73 |
|
|
|
0.5 |
1 |
53 |
|
|
|
|
0.5 |
1 |
646 |
|
|
|
1 |
2 |
157 |
|
|
|
|
1 |
2 |
356 |
|
|
|
2 |
3 |
147 |
|
|
|
|
2 |
3 |
364 |
|
|
|
3 |
4 |
13 |
|
|
|
|
3 |
4 |
167 |
|
|
|
4 |
5 |
14 |
|
|
|
|
4 |
5 |
70 |
|
|
|
5 |
6 |
20 |
|
|
|
|
5 |
6 |
8 |
10TSFAC017 |
683240 |
2805204 |
0 |
0.5 |
13 |
|
10TSFAC046 |
683001 |
2801993 |
0 |
0.5 |
40 |
|
|
|
0.5 |
1 |
42 |
|
|
|
|
0.5 |
1 |
134 |
|
|
|
1 |
2 |
337 |
|
|
|
|
1 |
2 |
38 |
|
|
|
2 |
3 |
93 |
|
|
|
|
2 |
3 |
24 |
|
|
|
3 |
3.5 |
53 |
|
10TSFAC047 |
683198 |
2801995 |
0 |
0.5 |
66 |
10TSFAC018 |
687000 |
2804799 |
0 |
0.5 |
13 |
|
|
|
|
0.5 |
1 |
106 |
|
|
|
0.5 |
1 |
28 |
|
|
|
|
1 |
2 |
141 |
|
|
|
1 |
2 |
468 |
|
|
|
|
2 |
3 |
107 |
|
|
|
2 |
3 |
585 |
|
|
|
|
3 |
4 |
62 |
|
|
|
3 |
4 |
347 |
|
|
|
|
4 |
5 |
11 |
|
|
|
4 |
5 |
118 |
|
|
|
|
5 |
6 |
13 |
|
|
|
5 |
6 |
68 |
|
10TSFAC048 |
683400 |
2801993 |
0 |
0.5 |
24 |
10TSFAC028 |
683604 |
2804009 |
0 |
0.5 |
45 |
|
|
|
|
0.5 |
1 |
371 |
|
|
|
0.5 |
1 |
97 |
|
|
|
|
1 |
2 |
180 |
|
|
|
1 |
2 |
61 |
|
|
|
|
2 |
2.5 |
585 |
|
|
|
2 |
3 |
123 |
|
10TSFAC049 |
683598 |
2802002 |
0 |
0.5 |
15 |
|
|
|
3 |
4 |
24 |
|
|
|
|
0.5 |
1 |
17 |
|
|
|
4 |
5 |
46 |
|
|
|
|
1 |
2 |
173 |
|
|
|
5 |
6 |
33 |
|
|
|
|
2 |
3 |
450 |
10TSFAC035 |
686001 |
2803207 |
0 |
0.5 |
9 |
|
|
|
|
3 |
4 |
367 |
|
|
|
0.5 |
1 |
15 |
|
|
|
|
4 |
5 |
31 |
|
|
|
1 |
2 |
18 |
|
|
|
|
5 |
6 |
45 |
|
|
|
2 |
3 |
51 |
|
10TSFAC050 |
683803 |
2802000 |
0 |
0.5 |
9 |
|
|
|
3 |
4 |
251 |
|
|
|
|
0.5 |
1 |
9 |
|
|
|
4 |
5 |
421 |
|
|
|
|
1 |
2 |
246 |
|
|
|
5 |
6 |
393 |
|
|
|
|
2 |
3 |
88 |
10TSFAC038 |
686604 |
2803197 |
0 |
0.5 |
17 |
|
10TSFAC056 |
683800 |
2801200 |
0 |
0.5 |
64 |
|
|
|
0.5 |
1 |
22 |
|
|
|
|
0.5 |
1 |
271 |
|
|
|
1 |
2 |
40 |
|
|
|
|
1 |
2 |
138 |
|
|
|
2 |
3 |
604 |
|
|
|
|
2 |
2.5 |
22 |
|
|
|
3 |
4 |
189 |
|
10TSFAC079 |
684000 |
2797600 |
0 |
0.5 |
6 |
|
|
|
4 |
5 |
145 |
|
|
|
|
0.5 |
1 |
67 |
|
|
|
5 |
6 |
124 |
|
|
|
|
1 |
2 |
251 |
|
|
|
|
|
|
|
|
|
|
2 |
3 |
218 |
|
|
|
|
|
|
|
|
|
|
3 |
3.5 |
6 |
Indicated and Inferred Resources for the Tiris Project at a
100ppm U3O8 cut-off grade
|
Cut-off
grade |
Tonnes |
Grade
(ppm) |
Mlb
U3O8 |
Total Indicated
& Inferred |
100 |
66 |
334 |
49 |
Indicated |
100 |
2 |
300 |
2 |
Inferred |
100 |
64 |
335 |
47 |
Competent Person
Dr Robert
Beeson has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking. This qualifies Dr
Beeson as a Competent Person as defined in the 2012 edition of the
‘Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves’. Dr Robert Beeson consents to the inclusion in the
report of the matters based on his information in the form and
context in which it appears. Dr Beeson is a member of the
Australian Institute of Geoscientists.
The information related to resources
for the Tiris Project is extracted from the report given below in
this document. This report is available to view on the company’s
website www.auraenergy.com.au. The company confirms that it is not
aware of any new information or data that materially affects the
information included in the original market announcements. The
company confirms that the form and context in which the Competent
Person’s findings are presented have not been materially modified
from the original market announcement. This information was
prepared and first disclosed under the JORC code 2004. It has
not been updated to comply with the JORC Code 2012 on the basis
that the information has not materially changed since it was
reported.
Aura Energy Ltd release to the
Australian Stock Exchange: First uranium resource in Mauritania, 19/07/2011
For more information please
visit www.auraenergy.com.au or contact the following:
Aura Energy Limited
Peter Reeve (Executive Chairman) |
Telephone: +61 (3) 9516 6500
info@auraenergy.com.au |
WH Ireland Limited
Adrian Hadden
James Bavister |
Telephone: +44 (0) 207 220 1666 |
Yellow Jersey PR Limited
Felicity Winkles
Joe Burgess |
Telephone:
+44 (0) 7748 843 871
+44 (0) 7769 325 254 |