Aura sets exploration target at Tiris

PERTH (miningweekly.com) – ASX-listed Aura Energy has identified exploration targets to extend its Tiris project’s current resource, in Mauritania.

The company said on Tuesday that preliminary work had identified seven exploration targets in Tiris East as extensions to the existing 58.9-million-pound uranium oxide resource, ranging between 30-million to 60-million tonnes, at between 120 parts per million (ppm) and 240 ppm for between 8-million and 32-million pounds of uranium oxide.

“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,” said Aura MD David Woodall.

“The near-term, low-cost, producer status of our Tiris project was confirmed by our March 2023 enhanced definitive feasibility study. Further resource expansion towards 100-million pounds 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 3.5-million pounds a year, equivalent to the planned back-end plant capacity.”