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Geology & Resources

Aurora claims cover a significant area of prospective ground over the Central Mineral Belt (CMB). The claims are also coincident with 108Mlb of Measured and Indicated Resources and 35Mlb of Inferred Resources across 6 deposits. The largest of these deposits is Michelin, the flagship of Aurora’s CMB project and one of the world’s top five albitite-hosted resources.

 

Open Pit portion Cut-off grade 250ppm

  Mt Grade % Mlb
Measured

11.90

0.09

24.43

Indicated

5.21

0.09

10.67

M + I

17.11

0.09

35.10

Inferred

0.89

0.11

2.12

Underground portion Cut-off grade 500ppm

Measured

5.72

0.10

13.15

Indicated

15.44

0.10

33.91

M + I

21.16

0.10

47.06

Inferred

3.65

0.10

7.73

Combined

Measured

17.62

0.10

37.58

Indicated

20.65

0.10

44.58

M + I

38.27

0.10

82.16

Inferred

8.54

0.10

9.85

 

ADDITIONAL POTENTIAL

The Michelin Deposit is still open along strike and at depth. Drilling programmes have already been designed to both infill and extend the existing Mineral Resource. In addition, there are also a number of promising targets within the Michelin – Rainbow trend, which are actively being explored and are expected to contribute to the economic viability of the project. Additional Mineral Resources for other deposits within the Michelin project are detailed below.

Deposit

Measured Mineral Resource

Indicated Mineral Resource

Inferred Mineral Resource

Cut-off 0.05%
& 0.02% U3O8
Mt Grade % t U3O8

Mt

Grade %

t U3O8

Mt

Grade %

t U3O8
Jacques Lake

 

 

 

13.0

0.07

8,138

3.6

0.06

1,988

Rainbow

0.2

0.09

190

0.8

0.09

654

0.9

0.08

739

India

 

 

 

1.2

0.07

826

3.3

0.07

2,171

Nash

 

 

 

0.7

0.08

564

0.5

0.07

367

Gear

 

 

 

0.4

0.08

270

0.3

0.09

279

Total

0.2

0.09

190

16.0

0.66

10,453

8.6

0.06

5,544

The Mineral Resources for the satellite deposits are reported at cut-off grades that contemplated underground (0.05% U3O8 cut-off) and open pit (0.02% U3O8 cut-off) mining, based on preliminary economic assumptions carried out by Aurora.

Latest prices

ASX A$ 0.18

Latest Prices

TradeTech U3O8 spot US$26.15/lb
TradeTech U3O8 long term US$31.00/lb

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