Aura Energy has completed air core drilling at the Tiris uranium project, in Mauritania and announces intention of upgrading the mineral resource.
Tiris uranium project is a major greenfield mine being developed by Aura Energy, with an estimated capital cost of £51.9m ($62.9m). Located in Mauritania, the uranium mine is anticipated to produce 12.4 million pounds (Mlbs) of uranium a year for an initial 15 years of mine life.
Tiris uranium project
The Tiris uranium project is located approximately 680km from the nearby town of Zouerat and 1,440km from the Mauritanian Capital, Nouakchott. It is located on the Paleoproterozoic rocks of the Reguibat Craton that are primarily granitoids, meta-sedimentsand volcanics, generally of high metamorphic grade.
Following the completion drilling program, the ASX-listed uranium and polymetallic producer has delivered validation samples to ALS Ireland and ANSTO Minerals, Australia, awaiting update on its resource estimate.
The drilling program involved 10 000 m infill drilling designed to upgrade the firm’s inferred resources to measured or indicated status, and to identify further exploration targets within the tenure. The project is part of the company’s goal of achieving first uranium production by 2025.
“Importantly, it also demonstrates clear progress on the path set in the first quarter of this year to rapidly develop Tiris and grow its value for all our stakeholders, including the government and community. Through the fourth quarter of this year, we expect to finalise key negotiations with the Mauritanian government, which remains very supportive of Tiris,” said Aura COO Dr Will Goodall.