LABRADOR - Good news for AURORA ENERGY RESOURCES of Vancouver. The latest numbers for its Michelin uranium deposit in the Central Mineral Belt show a 20% increase in size plus significantly higher grades.
Resources now stand at 67.4 million lb of U3O8 (measured and indicated) plus 35.5 million lb of U3O8 (inferred).
Grades in the proposed underground section of the deposit are 0.12% U3O8 (up more than 11%) and in the proposed open pit are 0.07% U3O8 (up 5%).
Michelin is a large, high quality asset with deposit characteristics capable of supporting a conventional, relatively low cost, long-life mining operation, according to the company. Studies to date indicate that cash costs would compare very favourably with other operating hard rock uranium mines around the world.
Based on extensive metallurgical and pilot plant tests at SGS LAKEFIELD, the characteristics of the Michelin ore are well understood, uncomplicated, and conventional. Michelin lends itself to standard crushing and grinding technology and traditional leach processing, Aurora added.
The company is scheduled to submit its project description (registration) to federal and provincial authorities in the second quarter of 2008 to initiate the environmental assessment process for the Michelin project (which includes the Michelin and Jacques Lake deposits).
Take a look at the extensive photo gallery posted at www.Aurora-Energy.ca.
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