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Main ForumAura Energy (ASX:AEE) soars on results

  • Aura Energy Ltd has received the final assays for its major resource drilling programme in Mauritania.

    • Encouraging results continue to confirm extensive nature of the calcrete uranium mineralisation within the Reguibat Project
    • Excellent high grade intercepts received (drill hole locations Table 1), include:
    • 10ASACI143: 4.5m @ 1076 ppm U3O8
    • 10ASACW119: 6.0m @ 1356ppm U3O8
    • 10ASACJ048: 3.0m @ 1303 ppm U3O8
    • 10FEACA142: 4.0m @ 1409ppm U3O8
    • Mineralisation starts at or close to the surface

    Aura has an amazing amount of uranium....

    Read previous posts re AEE on Australian-Shares.com

    ASX: AEE Cheapest Uranium in the world?

    uraniumchartnov2010.JPG

  • It looks like AEE will again shine on the back of a largish JORC increase that will see the current JORC for their Swedish Haggan deposit markedly increase... so up from the current 291 million pounds to? is the question.

    Personally I think that eventually AEE's Haggan deposit will approach a billion pounds of uranium.

    Moreover AEE are making rapid progress with their bio and acid tank leaching processes that feature a very fast throughput.

    But perhaps the best thing about AEE's deposits is that they are outside of Australia and cannot be knocked on the head by the green Senate.

    "Aura Energy (ASX: AEE) has intersected more thick uranium from drilling at the Häggån Project in central Sweden, extending the area of known mineralisation into the west of its Häggån permit.

    The results are expected to boost the existing JORC Resource of 291 million pounds (Mlbs) at 162 parts per million (ppm) uranium (U3O8) in the following weeks, and will also provide key inputs for mining options in the Scoping Study.

    Today's results represent another significant step in the development of the Häggån Project as a world-class uranium project. Häggån is one of the 10 largest undeveloped uranium resources in the world.

    The final assays build on the previously announced results of the 11 hole drilling program undertaken earlier this year. There is up to 186 metres of mineralisation downhole and all holes in the program had mineralisation in excess of 100 metres.

    Dr Bob Beeson, managing director of Aura Energy, said “every hole in the 2011 program intersected greater than 100 metres of cumulative mineralisation, emphasising the extent of this thick, flat-lying sheet. " Read more

  • The securities of Aura Energy Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company.

    Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Monday, 22 August 2011 or when the announcement is released to the market.

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