LABRADOR - Vancouver's AURORA ENERGY RESOURCES has released an NI 43-101-compliant resource estimate for its wholly owned Michelin and Jacques Lake uranium deposits. Together the two deposits have measured and indicated resources of 58 million lb U3O8. There is also an additional inferred resource of 38 million lb of U3O8.
The detailed figures look like so:
MEASURED
Michelin open pit: 3.4 million tonnes (t) at 0.07% U3O8.
INDICATED
Michelin open pit: 7.9 million t at 0.06% U3O8;
Michelin underground: 14.3 million t at 0.12% U3O8;
Jacques Lake open pit: 1.2 million t at 0.08% U3O8;
Jacques Lake underground: 1.7 million t at 0.09% U3O8.
TOTAL MEASURED & INDICATED
25.1 million t at 0.10% U3O8
INFERRED
All areas: 17.9 million t at 0.10% U3O8
Both deposits remain open in all directions.
Aurora's 2007 plan has a budget of $20 million, including 80,000 to 100,000 m of drilling. Approximately 25% of the drilling will be done at Michelin, another 25% at Jacques Lake and the remaining 50% at other targets in the district. Additionally, $5 million has been committed to ongoing environmental and engineering studies that will be included in a feasibility study due in 2008.
Visit www.Aurora-Energy.ca to read any of Aurora's presentations delivered last year.
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