Aurora Energy Metals (ASX:1AE) aims to unlock the inherent value of its namesake uranium project in the US when it seeks to complete a Scoping Study in Q1 2024.
Managing Director Greg Cochran says the company believes the conclusion of a ‘successful’ Scoping Study will lead to broader recognition of the project’s inherent value.
This study comes at a time when uranium spot prices have reached a 15-year high and COP28 declaration seeks to triple nuclear energy capacity by 2050.
As previously reported, the Scoping Study began during the previous quarter, starting with a metallurgical testwork program designed by DRA Global.
Cochran adds: “For those of us that have been in the uranium industry a long time, these are without doubt the most promising of times. At long last nuclear is now widely recognised as an indispensable key to both energy security and to unlocking a safe and affordable path to net zero.
The United States has become a leading protagonist for the world and its own nuclear industry, which is why Aurora is so well-positioned.”
The $13.42 million market capitalisation company reports the second stage of the metallurgical testwork program consists of leach testwork to enable the development of the scoping level flowsheet.
An additional program was added with sighter leach tests to be conducted on the rejects, aimed to provide information about leach characteristics in advance of the leach phase to be undertaken on the beneficiated products.
Aurora notes the initial leach sighter tests and the first beneficiation tests have been completed, with results and analysis pending.
Currently, an independent mining consultant is being engaged to undertake mining studies with an expanded scope including evaluation of progressive rehabilitation during mining, a site mining layout to deliver to an ore transport facility and a conceptual Tailings Management Facility design.
Further, meetings have been held with the Vale District Bureau of Land Management to progress the Baseline Needs Assessment Form (BNAF) to define survey/baseline protocols and studies required prior to formal community engagement, assessment, and approval.
The first round of biological surveys covering the project area have been completed, while a second survey is being planned that aims to be completed in the spring.
Aurora Energy Metals is an Australian explorer and developer focused on its wholly owned namesake uranium project.
As of 30 September 2023, the company had $3.023 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Aurora Energy Metals
