Aura adding more uranium


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As previously remarked ,Aura Energy ASX AEE has almost as much uranium as Extract resources but is just a fraction of EXT’s market cap. AEE’s main holding is in Sweden where they are on track to prove up a remarkably large resource that may eventually be 4x EXT’s current resource. Adding to its rather obvious attractions to an investor wanting cheap exposure to Uranium,  AEE has just announced that it has hired a drilling rig to explore its West African Reguibat Project in Mauritania, West Africa.

Aura completed the initial drilling of calcrete mineralisation in Mauritania earlier in 2010. The 392‐hole drill programme confirmed the presence of the widespread calcrete uranium mineralisation generally two to four metres in thickness, and locally up to six metres thickness.

Uranium grades and extent of the mineralisation were considered highly encouraging with individual one metre drill samples ranged up to 4056 ppm U3O8.

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