Aura Energy eyes U3O8 JORC Resource at Reguibat after continued high grade results

Aura Energy (ASX: AEE) continues to confirm the extensive nature of the calcrete uranium mineralisation at the Reguibat Project in Mauritania, with the final results from the company's major resource drilling program.
The latest high grade intercepts included:

- 4.5 metres at 1076 parts per million (ppm) U3O8 from 1 metre;
- 6.0 metres at 1356ppm U3O8 from surface;
- 3.0 metres at 1303ppm U3O8 from 3 metres; and
- 4.0 metres at 1409ppm U3O8 from surface.

Importantly for the news flow of Aura - the company said a JORC Resource estimate is expected early July 2011, to be conducted by Coffey Mining.

Bob Beeson, managing director, is very encouraged by the latest results and said “We are very pleased that we have continued to intersect strong uranium mineralisation throughout our main target areas and we are confident we can establish a resource.'

The positive of the latest hits are that they are in line with previous results and support the potential for the project envisaged by Aura at the completion of the 2010 drill program.

The program was extensive, covering more than 2000 holes, with the majority at Reguibat.

Drilling covered all of Aura’s wholly owned permits as well as the joint venture permits for over 9,100 metres.

The U308 exploration target at Reguibat is 40 to 60 million pounds, with the company's permits covering an extensive 8400 square kilometres.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/17566/aura-energy-eyes-u3o8-jorc-resource-at-reguibat-after-continued-high-grade-results-17566.html