Aura Energy (ASX:AEE) is confident it can grow the resource at its Tiris Uranium Project in Mauritania, West Africa beyond the existing 58.9 million pounds following a recent 15,500m drilling program.
Aura describes Tiris as a near-term, long-life future uranium mine slated to produce 2 million pounds per annum over a 17-year mine life, with production scheduled to begin in 2026. The project sits about 1,200km northeast of the capital city of Nouakchott.
Drilling at Tiris has been planned to demonstrate the resource growth potential of the project and to further enhance its value through either extending the current mine life or expanding the production capacity in the future.
Thus far, drilling has defined two areas of shallow mineralisation at both the Hippolyte South and Sadi prospects, as well as numerous extensions to known mineralisation over other resource areas which is aimed at growing the existing cumulative 58.9-million-pound resource.
Drilling program is now complete, with the remaining 3,000m of results yet to be released. In the meantime, Aura expects to deliver an updated resource during the current quarter.
Results from both prospects so far demonstrate top grades of 395 and 345 parts per million uranium, respectively.
“These results have now defined mineralisation over at least 8km strike at Hippolyte South,” Managing Director and CEO Andrew Grove says.
“Additionally, further drilling has been undertaken at Sadi, with those results pending. Both areas are expected to significantly add to the mineral resources at Tiris.
“The shallow, free dig open pit mining and outstanding beneficiation properties at Tiris has demonstrated very robust economics. Additional mineral resources are likely to allow for future expansion opportunities beyond the currently proposed 2 million pounds per annum production rate.”
Aura Energy is an Australia-based explorer with a portfolio of uranium and polymetallic projects in Africa and Europe.
Write to Adam Drought at Mining.com.au
Images: Aura
