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Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: AEE
Latest Price: A$0.14  (0,00%)
52-week High: A$0.34
52-week Low: A$0.13
Market Cap: A$21.62M
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Aura Energy Limited
www.auraenergy.com.au

Aura Energy (ASX: AEE) is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company 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 Project in Mauritania. The company aims to create shareholder value by rapidly establishing resources and then completing feasibility studies on these two projects. Aura Energy is headquartered in Melbourne, Australia and has been listed on the ASX since May 2006.

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Aura Energy hits more high grade uranium in West Africa, JORC Resource pending

11th Apr 2011, 6:52 am The latest high grade near surface uranium hits by Aura at Reguibat continue to confirm the extensive nature of the calcrete uranium mineralisation. Aura also continues to achieve milestones with the JORC Resource on track for mid-2011.

Aura Energy (ASX: AEE) has intersected more near surface high grade calcrete uranium (U308) mineralisation at the company’s Reguibat Project in Mauritania, with a JORC Resource on track for the middle of this year.

Highlights include:

 - 3 metres at 2,268 parts per million (ppm) U308;
 - 2.5 metres at 1,859ppm U308;
 - 10 metres at 2,000ppm U308; and
 - 2.5 metres at 1,787ppm U308.

Bob Beeson, managing director, said “Calcrete uranium mineralisation has low mining costs and low strip ratios due to the mineralisation’s close proximity to the surface.

"We do not anticipate having to use drill or blast mining techniques.”

The assay results come from a drilling program completed in February this year that comprised of 2,169 holes over 9,100 metres.

These positive results will provide Aura with the capability to further explore the potential of these deposits, with additional assays pending.

The program had been conducted on the wholly-owned Aura permits as well as joint venture permits.

Aura has a 70% stake in two permits at the 8,400 square kilometre joint venture project with private company Ghazal Minerals holding the remaining stake.

The U308 exploration target at Reguibat is 40 to 60 million pounds.

Forte Energy’s (ASX: FTE) Bir En Nar Project is within 200 kilometres of the Aura – Ghazal joint venture, with the city of Bir Moghrein less than 50 kilometres away.

All of Aura’s Mauritania projects, except one, are located in the north of the country near the borders with Algeria, Mali and Western Sahara.

Aura also has projects in Sweden and Australia.

 

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