Aura Energy Limited (ASX:AEE) is preparing to commence a programme of regional exploration with a focus on resource enhancement at its low capex, low operating cost Tiris Uranium Project in Mauritania.
Acting CEO, Dr Will Goodall, said the proposed Resource Enhancement Programme is seeking to expand the Tiris uranium resources whilst concurrently progressing towards uranium production.
“We will focus on expanding the existing Measured and Indicated Resources and locate additional exploration targets that have been underexplored.
“We look forward to commencing the programme as soon as the necessary approvals are in place, as we continue to advance towards low emission uranium production at Tiris.”
Resource Upgrade Programme
The Resource Upgrade Programme aims to expand the Measured / Indicated Resource base within the Tiris East project area.
A drilling programme will focus on portions of the current Inferred Resource within the catchment area of the proposed plant site at Tiris East, to reduce drillhole spacing sufficiently to upgrade the classification of the Resource to Measured/Indicated status. Aura will cover the Tiris West resources in a separate future programme.
The previous resource drilling programme in 2017 focused on converting sufficient Inferred Resource to Measured and Indicated status to support the Tiris Definitive Feasibility Study, with the areas omitted from the 2017 programme reasonably anticipated to be upgraded following similar drilling in the new programme.
Aura is currently liaising with drilling contractors aiming to complete the programme by midyear 2022.
Vanadium Resource Estimate
Uranium in the Tiris Resources is contained within the mineral carnotite, with vanadium also an essential component of carnotite. Test work has been previously undertaken by Aura demonstrating that the vanadium can be readily extracted.
Resource estimation work is currently underway by independent consultants to enable a vanadium resource statement to be declared in compliance with JORC requirements.
The proposed Vanadium Resources Estimate aims to produce a JORC compliant resource statement for vanadium (V2O5) contained within the Tiris uranium resource, which is likely to further reduce the cash cost of the project. The aim is to produce a vanadium resource estimate that is separate from the Uranium Resource estimate and independent of the Uranium Resource Upgrade work.