The company reckons its proven model for successful exploration can be extended across the wider region by extending the exploration footprint. Pic: via Getty Images.
Mining
Special Report: Aura Energy plans to significantly expand its Tiris project in Mauritania, Africa with a province-scale 13,000km tenure application.
The company says Mauritania’s Minister of Mines is supporting President Mohamed Ould Cheikh El Ghazouani’s goal of developing a strong resources industry.
This goal has seen the reopening of the Mining Cadastre and the Ministry has begun accepting applications for exploration tenure, including Aura Energy’s (ASX:AEE) application.
The new exploration license applications target areas with strong synergies with the Tiris West resource of 11.2Mlbs (16.4Mt at 305ppm U3O8).
The company’s goal is to confirm its radiometric analysis that the Tiris region is a world-class uranium province.
“Our geologists are confident that the Tiris Zemmour region of Mauritania is a world-class uranium region, similar in importance to the uranium market as the Pilbara region in Western Australia is for iron ore,” AEE chairman Phil Mitchell said.
“We believe Aura’s uranium-enriched carnotite zone extends across the north-eastern Mauritania area of Tiris Zemmour, and our exploration success to date provides validation for pursuing further strong growth platform for Aura’s shareholders and our Mauritanian partners.
“With the potential for our current Tiris West resource to be materially expanded, the company strategy is to:
The new tenure application areas were selected following a detailed 12-month evaluation program based on historical drilling and radiometric data and analogues from the company’s successful uranium discoveries, which underpin the Tiris uranium project.
This analysis led to the recent exploration target announced for the existing Tiris East resource areas, for which drilling is planned to commence before the end of 2023.
The company is confident that the proven model for successful exploration can be extended across the wider Tiris Zemmour region by extending the exploration footprint.
“Combined with our recently announced exploration target, these tenement applications – if successful – will give us an opportunity to be a driving force to realise the full potential of this region, which we believe could be truly world-class in scale,” AEE MD and CEO David Woodall said.
Subject to the successful granting of these applications, Aura will work to progressively confirm and test exploration targets within these tenements through 2024 and 2025.
The Tiris project’s Front-End Engineering Design (FEED) study is also approaching completion, with Tiris East exploration and preconstruction activities to commence shortly.
“Aura Energy has already established a commanding position with its mineral and reserves and resources at Tiris West, which has put us in a position to consider a final investment development decision in the coming months,” Woodall said.
“Our development strategy for Tiris is complemented by our exploration strategy, which aims to grow our resources and allow scaled-up production over time in a capital-efficient manner.
“We look forward to working with our stakeholders to progress our applications, ultimately growing the Tiris Project into a global-scale project that contributes to Mauritania’s economic and social development.”
This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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