27th Aug 2021 17:55
Aura Energy Ltd - Australia-based minerals company - Ups resource upgrade at Tiris uranium deposit by 10%, or 5.0 million pounds of uranium, taking total to 56 million pounds at a grade of 254 parts per million.
Company is the operator and has an 85% interest in the Tiris project.
Upgrade follows recent commissioning of new resource estimate on the Sadi South Zone to incorporate drillholes not included in earlier resource estimates.
Chief Executive & Managing Director Peter Reeve says: "We are very excited by this resource upgrade at the Tiris uranium project, as it confirms our belief that the resource will continue to increase in size as further exploration work is undertaken.
"The company continues to seek operating and capital expenditure cost reductions, whilst concurrently planning future exploration activities to further increase resource size and the potential of the opportunity. With Stage 2 exploration initiatives now underway, including an opportunity review to lower operating costs and capital expenditure, Aura is also exploring the potential positive impact on Tiris operating cost from vanadium by-product recovery."
Current stock price: 254.00 pence
Year-to-date change: up 2.0%
By Paul McGowan; [email protected]
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