LABRADOR - AURORA ENERGY of Vancouver has okayed a budget of $26 million for uranium exploration and development in coastal Labrador for the remainder of this year. The company says this is the largest single uranium exploration campaign in the world.
The price tag for the drilling portion of the program is $21 million. Plans call for 75,000 to 100,000 m of drilling at the Michelin, Jacques Lake, Aurora Corridor and Inda Lake trend.
Another $5 million has been earmarked for environmental, engineering and metallurgical studies related to the pre-feasibility study of the Michelin deposit.
The Michelin and Jacques Lake properties are the most advanced in Auroras portfolio. Together they contain 57.9 million lb of uranium in the measured and indicated resource categories, plus 38.0 million lb in the inferred category. Additional details of the companys Central Mineral Belt activities are available at www.Aurora-Energy.ca.
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