Uranium explorer expands internationally

Melbourne-based uranium explorer Aura Energy reported encouraging results from its first drilling programme in West Africa in April.

Aura Energy carried out its first drilling program from November 2009 to January 2010 for uranium mineralisation on its permits on the Reguibat Craton in northern Mauritania. The recently completed program was designed to test the extent, continuity and variability of the uranium mineralisation. The results support the exploration’s target of 18-27 million kg of uranium at an average grade of 300-450ppm.

Aura is developing a program that should allow the establishment of the first resource for the project to commence in the third quarter of 2010 onwards.

Aura Energy also has advanced projects in Australia and Sweden. Besides the Reguibat Craton project, the company is focusing on the Storsjön project located in Sweden’s Alum Shale province, one of the largest depositories of uranium in the world.

The company aims to create shareholder value by rapidly establishing resources and then completing feasibility studies on these two projects.