Major Resource Upgrade at Aura Energy’s Tiris Project

Aura Energy Limited (ASX:AEE, AIM:AURA) is pleased to announce that the Resource Upgrade program undertaken in 2022 has increased the Measured and Indicated (M&I) Resources at the Tiris Project (“Tiris or the “Project”) from 19.5 Mlbs to 29.6 Mlbs, 62.2Mt at 216ppm U3O8 at a 100ppm cut-off.

KEY POINTS:

52% increase in Measured and Indicated Resources to 29.6 Mlbs U3O8, 62.1Mt at 216 ppm U3O8 at a 100ppm grade cut-off.
Global Mineral Resource Estimate (MRE) of 58.9 Mlbs U3O8, 113Mt at 236 ppm U3O8 at a 100ppm grade cut-off.
Near-term exploration targets identified to further grow the Tiris resource.
Tiris Reserves estimate with the updated expanded Feasibility imminent

The significance of the Resource upgrade is that it enables Aura to update the 2019 Tiris Definitive Feasibility Study (DFS)¹project work, assessing the potential to increase the production rate based on the increased M&I resource. This work is expected to be released before the end of Q1 2023.

Aura’s Tiris Project differs from other near-term projects in that the carnotite is mostly ultrafine, micron scale in grain size enabling the separation of the uranium without crushing and grinding as demonstrated in the 2019 DFS¹. In the DFS¹ production averaged 800,000 lbs U3O8 per year with a capital cost of USD 74.8 million and C1 costs of USD 25.43/lb U3O8. Aura is confident that our existing fast-to-market development strategy will be accentuated in the updated DFS as a result of the economies of scale on the capital and operating costs using a modular expansion of the Tiris Project.

Commenting on the increased MRE, Aura Energy Managing Director Dave Woodall said:

“The significant increase of our M&I resources confirms our confidence that the Tiris province which we believe has great expansion potential. Our immediate focus is now to work with our Mauritanian stakeholders, offtake providers, investors and financing partners to progress towards a decision to Mine in Q3 CY2023, a target construction timeline of Q4 CY2023, and first production expected in late 2024 or early 2025.

“Our exploration success is creating a strong platform for growth for Aura’s shareholders and our Mauritanian partners, and an exciting new zero-carbon energy source for an increasingly energy-hungry world.”

Figure 1 - Location of the Tiris Project Global Mineral Resource

Upgraded Measured and Indicated Resource

The program successfully delivered an additional Measured and Indicated resource of 23.0Mt at 200ppm U3O8 containing 10.1Mlb U3O8 at 100ppm U3O8 cut-off grade. The detail of the upgraded resource across the project areas and the previous resources are shown in Tables 1 and 2. The drilling program completed in 2022 comprised 1,746 holes (1,680 air-core and 66 diamond-core holes) at an average depth of 7m, from 11,600m of drilling.

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This article includes content from Aura Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

aura energy asx:aee uranium exploration Uranium Investing aim:aura

AEE:AU

Laramide Announces the Appointment of Vice-President for Operations and Strategic Planning, U.S. and Provides Update on Drilling Activity in Australia

Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant assets in the United States and Australia is pleased to announce the appointment of Mr. Josh Leftwich as Vice-President for Operations and Strategic Planning, U.S.A. Mr. Leftwich's substantive professional expertise will be instrumental in advancing Laramide's U.S. uranium assets through development and into production.

Mr. Josh Leftwich's career includes a role as Director of Radiation Safety and Licensing, reporting directly to the President of Cameco. At Cameco, he was a key senior manager in charge of operational compliance and oversight of three mine operations and seven development projects. He was the key contact for all tribal relations which required development and administering of policy processes, as well, he was the key regulatory contact for all state and federal communications including the Nuclear Regulatory Commission (NRC).

His other relevant uranium mining company experience includes negotiating complex regulatory issues at Uranium Energy Corp. (UEC); and, as a key component of the initial start-up team at Mestena Uranium (now The Alta Mesa Project owned by enCore Energy and Boss Energy), he was responsible for all permitting activities including demonstrating and communicating groundwater restoration capabilities and establishing health, safety and environmental/radiation programs from greenfield to production.

"We are very pleased to welcome Josh to Laramide Resources and back to the uranium industry where he began his career," said Marc Henderson , CEO and President of Laramide Resources Ltd. "Each of our U.S. projects are development stage with significant resources and can make a meaningful contribution to future US domestic uranium production, which is now a bipartisan US government objective. This political backdrop should provide a tailwind for our assets and Josh's skills will enhance our progress towards achieving our aggressive development timeline."

Westmoreland Uranium Project Drilling Update

Drilling at the Westmoreland project is proceeding well with the first three of seven planned diamond holes at the Amphitheatre prospect now completed. Initial core sampling of shallow mineralised zones is underway, guided by downhole gamma probe and handheld scintillometer data. The first samples are being prepared for delivery next week to ALS Laboratories.

The first five drillholes at Amphitheatre are targeting immediate extensions of the known mineralisation and to understand any structural controls. The last two holes planned for this study at Amphitheatre will be to step out and to test over 300m to the north under alluvial cover to get a sense of the potential scale of this project.

As part of the 2024 resource extension program, a second drill rig will arrive later this month to commence drilling at Huarabagoo and Junnagunna to test whether the zones between these two deposits can be linked. The combined program will comprise 10,000 to 12,000 meters over 100 drillholes and includes the satellite deposit at Long Pocket with an objective of expanding and updating the Westmoreland Mineral Resource Estimation.

Qualified/Competent Person
The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies , a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a Qualified Person under the guidelines of the National Instrument 43-101. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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About Laramide Resources Ltd.:

Laramide is focused on exploring and developing high-quality uranium assets in Australia and the western United States . The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size, production potential, and the two large projects are considered to be late-stage, low-technical risk projects.

The Westmoreland project in Queensland, Australia , is one of the largest uranium development assets held by a junior mining company. This project has a PEA that describes an economically robust, open-pit mining project with a mine life of 13 years. Additionally, the adjacent Murphy Project in the Northern Territory of Australia is a greenfield asset that Laramide strategically acquired to control the majority of the mineralized system along the Westmoreland trend.

In the United States , Laramide's assets include the NRC licensed Crownpoint-Churchrock Uranium Project. An NI 43-101 PEA study completed in 2023 has described an in-situ recovery ("ISR") production methodology. The Company also owns the La Jara Mesa project in the historic Grants mining district of New Mexico and an underground project, called La Sal, in Lisbon Valley, Utah.

This press release contains forward-looking statements. The actual results could differ materially from a conclusion, forecast or projection in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information.

SOURCE Laramide Resources Ltd.

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Global Atomic Announces the Credit Committee Meeting to Review the Dasa Funding Opportunity has been Postponed

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) reports that the presentation of the debt financing facility to the Credit Committee of a U.S. Development Bank has been postponed to August. The Bank decided not to bring this project to the Credit Committee in July, citing a need to answer and confirm additional questions.

With approval by the Credit Committee postponed, final approval by the Bank's Board of Directors is now expected in October 2024 .