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Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) is pleased to announce it has acquired additional radiometric survey data, reviewed historical drilling results, and identified strong indications of mineralisation extensions on Aura’s existing tenements that could significantly expand Aura’s current Tiris Project (“Project”) 58.9 Mlbs U₃O₈ resource.
KEY POINTS:
- Aura identifies an Exploration Target aimed to expand the existing 58.9 Mlbs U3O8 Tiris Project Resource (113Mt at grade of 236ppm U3O8), which was defined at an exploration cost of ~US$0.20 per lb U3O8.
- Preliminary work has identified seven Exploration Targets in Tiris East as extensions of the existing resources 30 – 60 Mt at 120 - 240 ppm U3O8 for 8 - 32 Mlbs U3O8.
- The new Exploration Targets highlight the potential for the Tiris Project to achieve world-class scale.
- Exploration Target will be tested with a 15,500m drilling exploration program planned to commence imminently.
- Proving up additional resources is likely to expand the ore available to the Tiris Project and potentially facilitate modular expansion. The Front-End Engineering Design (FEED) study is 80% complete, and pre- construction activities will commence at the Tiris Project.
Aura has signed contracts for an exploration program of 15,500m air core drilling over approximately 78 km2 on existing tenements, aiming to significantly increase the Inferred Mineral Resource at the Tiris Project in Mauritania by extending the existing resources. The mobilisation of the drilling contractor commenced on October 16th, with the program commencing soon after.
The potential quantity of the Exploration Target is conceptual in nature. There has been insufficient exploration of these targets to estimate a Mineral Resource, and it is uncertain whether this exploration effort will result in an estimation of a Mineral Resource.
Aura Managing Director David Woodall said,
“Aura’s strategy is to be development-ready in relation to our Tiris Project, and this strategy is progressing and accelerated as we aim to expand our mineral resource.
The near-term, low-cost, producer status of our Tiris Project was confirmed by our March 2023 Enhanced Definitive Feasibility Study1. Further resource expansion towards 100m lbs of U3O8 progresses the project towards a global scale and reinforces the potential for Mauritania to be a material producer in the near term. The robust economics of our Tiris Uranium Project will be further enhanced by increasing our mineral resources and reserves. Due to the modular nature of the project, we see outstanding opportunities to grow the annual production capacity of the project to 3.5Mlb per annum, equivalent to the planned back-end plant capacity.”
“To that end, Aura will commence key pre-construction activities, including the geotechnical drilling of the proposed plant site, and allow some trial mining to provide valuable data in the production planning for the Tiris operation once developed.”
Figure 1 - Tiris Project Exploration Program Target Areas
The exploration program will be conducted on existing granted tenements targeting the expansion of the Mineral Resources at the Tiris Project. It will focus on the Exploration Target shown in Table 1 below.
Exploration Target Estimate
A significant level of exploration has previously been undertaken by Aura on the currently held tenements, resulting in a Global Mineral Resource Estimate (MRE) of 113Mt at an average grade of 236ppm U3O8 containing 58.9 Mlbs U3O84, which was reported in a market announcement (“Major Resource Upgrade at Aura Energy’s Tiris Project”), dated 14th February 2023. The MRE has been based on 21,990 metres of drilling in 5,619 holes for a total project cost of US$11.9M or US$0.20 per lb U3O8.
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AEE:AU
North Shore Uranium: Unlocking Value Across Two World-class Uranium Districts in North America
North Shore Uranium (TSXV:NSU) is a uranium exploration company focused on North America, advancing a dual-track strategy aimed at high-impact discoveries in two of the world’s most prolific uranium regions: the eastern Athabasca Basin in Saskatchewan, Canada, and the Grants Uranium District in New Mexico, USA. With a lean capital structure, fully permitted drill targets in Saskatchewan, and strong insider ownership, the company is well-positioned to create value through cost-effective exploration and resource definition in a rising uranium price environment.
The Rio Puerco project, located in New Mexico’s Grants District—a historically productive uranium belt responsible for over 340 million pounds of past U₃O₈ production—offers strong potential. Drawing on data from approximately 800 historical drill holes, a JORC-compliant inferred resource estimate of 11.4 million pounds U₃O₈ was completed in 2009. Early assessments suggest potential for in-situ recovery (ISR) mining, one of the lowest-cost extraction methods in the industry.
North-Shore-Uranium-Athabasca-Basin-ProjectsAt the Falcon project in the Athabasca Basin, North Shore’s maiden 2024 drill program confirmed near-surface uranium mineralization in previously untested zones, underscoring the project’s discovery potential. The company has outlined a 7-kilometre conductive corridor with high-priority drill targets in the South Priority Area and is planning prospecting and follow-up drill programs.
Company Highlights
- Dual Jurisdiction Exposure: Active exploration in Athabasca Basin and the Grants Uranium District, two of the most historically significant uranium-producing regions in North America.
- Rio Puerco Option: Binding term sheet signed for a transaction that would see North Shore Uranium acquire up to an 87.5 percent of the Rio Puerco uranium project in New Mexico, where there is a historical resource estimate of 6 million tonnes grading 0.09 percent eU₃O₈ for 11.4 million lbs of U₃O₈.1
- Falcon Discovery in 2024: Maiden drill program confirmed near-surface uranium mineralization at two targets on the Falcon property in the Athabasca Basin in a previously undrilled area within 30 km of the active Key Lake uranium mill.
- Path to Resource Definition: Upon completion of the transaction, North Shore plans to validate historical data, attempt to expand the resource and evaluate the ISR potential at Rio Puerco and concurrently work to expand the discovery footprint at Falcon.
- Lean Structure, Strong Insider Support: $2.2 million market cap (as of July 2025), 40.3 million shares outstanding, with 43.3 percent held by insiders and founding investors.
- High-caliber Team: Led by award-winning geologist Brooke Clements and supported by proven uranium dealmakers and technical experts.
This North Shore Uranium profile is part of a paid investor education campaign.*
Click here to connect with North Shore Uranium (TSXV:NSU) to receive an Investor Presentation