MARCH QUARTERLY REPORT 28th April 2017
KEY POINTS: TIRIS PROJECT (Mauritania)Tiris Definitive Feasibility Study (DFS) has progressed strongly in all areas
Environmental and Social Impact Assessment (ESIA) largely complete
Tiris Shareholders Agreement with Mauritanian Government currently under negotiation
Tiris Project Water Study approaching drill testing phase
Tiris Resource Upgrade drilling to commence in May
Metallurgical test work to commence in June
Mining Lease Application to be lodged in May
TASIAST SOUTH GOLD PROJECT (Mauritania)Planning continued for exploration of Aura's gold tenements
Strong regional drill results continue by Algold Resources (TSX)
Finalisation exploration permits expected soon
Cobalt and other base metal potential reviewed
Results from initial sampling are being analysed to determine next steps
HÄGGÅN PROJECT (Sweden)Diamond drilling program was undertaken on two areas aimed at establishing a Measured Resource in this area
Work continues on the Community Engagement brief
Desktop study of Häggån metal content undertaken to highlight the significant polymetallic potential of the project
CORPORATEKey shareholders exercised unlisted options early unlocking $1.84M for the company which will be used to explore the gold and base metal prospects
Aura instituted a Sale Facility for shareholders who hold unmarketable parcels of shares in the Company
QUARTERLY OVERVIEW
During the March Quarter Aura Energy focussed significant effort on advancing the Tiris Definitive Feasibility Study (DFS) with strong progress achieved across many areas.
Aura continues to maintain that its ability to get Tiris into production is the main near- term driver of shareholder returns.
Work on the Tiris DFS centred around the submission for the Mining Lease Application which entails a range of other activities to be completed. Substantial work on the EISA was completed including the Flora, Fauna and Archaeology Studies etc and community consultation meetings are scheduled to occur in early May. Other areas including resource drilling and upgrade, water search and metallurgical test work progressed past the planning phase
Aura also maintained a strong focus on planning for exploration on its significant Tasiast South gold and base metal prospects whilst noting further gold drill results on the adjacent tenements of Algold Resources (TSX). Final granting of the permits to allow commencement of field exploration has been slower than expected however this is expected shortly.
Drilling was undertaken at two resource areas on the Häggån Project in Sweden and discussion on the Community Engagement Program has continued. Significantly Aura has conducted a desktop review of the polymetallic aspects of the project which has highlighted possible project upside given the recent increase in base metal prices.
The commodity backdrop in uranium continues to be buoyant for the term uranium price series and the sentiment in the sector is solid. The company remains in a well- funded position.
TIRIS PROJECT, MAURITANIA (AURA 100%) Tiris Project OverviewAura is conducting a Feasibility Study on its 100% owned 49 million pound U₃O₈ calcrete uranium project in Mauritania (See Figure 1). The project has low operating
costs and low development capital with strong financial returns under long-term pricing scenarios.
Figure 1: Location of Aura's Tiris Project Uranium ResourcesAura Energy Limited published this content on 28 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 April 2017 04:29:07 UTC.
Original documenthttp://www.auraenergy.com.au/investor/ASX Announcements/2017/Quarterly Report March 2017 and Appendix 5B.pdf
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