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23 FEBRUARY 2017
AURA ENERGY
LIMITED
(“Aura” or the
“Company”)
AURA’S BASE METAL
REVIEW HIGHLIGHTS HIGH COBALT VALUES
HIGH-GRADE COBALT
DRILL INTERSECTIONS REVEALED WITH
BEST COBALT (Co)
DRILLING INTERECEPTS INCLUDING;
-
1 metreat0.58% Co
-
4 metres at 0.48% Co
-
1 metreat0.46% Co
DRILL RESULTS ARE ACROSS A BROAD
AREA AND ONLY
SPORADIC ASSAYING FOR COBALT WAS
UNDERTAKEN
Aura Energy Limited (AEE; ASX, AURA;AIM) is pleased to
announce that following its recent agreement to purchase two
under-explored mineralised greenstone belts in Mauritania (See Fig 1), a review of the base
metal potential on these tenements has highlighted several
significant cobalt drilling results.
The Tasiast South project tenements lie along strike from
Kinross’ giant Tasiast Gold Mine and from Algold's Tijirit gold
deposits. The tenements are highly prospective for gold but
previous work also indicated anomalous occurrences of nickel and
copper. In a review of the two project areas, Bella and Taet,
cobalt values have been found.
Importantly sampling for cobalt was sporadic and only
approximately 1 in 10 samples were assayed for cobalt. Of the high
Co values 14 samples exceeded 0.1% Co, 6 samples exceeded 0.25% Co
and 3 samples near or above 0.5% Co. These results found, over a
1.6 km long drill line at Bella with strong nickel and copper
values in ultramafic rocks were within 30 metres of the surface,
and at Taet where the anomalous copper values are possibly
indicative of sulphides. Drilling to date has tested only a small
part of the ultramafic body and the drill lines are possibly
parallel to strike.
The base metal targets were considered as secondary targets at
Tasiast South by the previous explorer and very little targeted or
comprehensive base metal exploration has been carried out in these
areas. However, considering the range of metals encountered
over broad areas and the fact that these are largely
incidental results achieved in a gold exploration program, Aura now
considers these areas to be highly prospective for base metals.
The range of cobalt values is shown below however it should be
reiterated that cobalt has not been targeted or comprehensively
assayed for and as such Aura will be reviewing where re-assays for
cobalt can be conducted on previously drill holes. The highest
cobalt results are as follows;
Prospect
Name |
Hole ID |
Easting |
Northing |
Depth From |
Depth To |
Interval |
Co_% |
Ni_ppm |
Cu_ppm |
HADEBET BELAA |
11HBAC031 |
466697 |
2219203 |
7 |
8 |
1 |
0.581 |
5300 |
488 |
TOUERIG TAIEUH |
12TGAC198 |
445378 |
2219429 |
24 |
28 |
4 |
0.484 |
9140 |
400 |
HADEBET BELAA |
11HBAC030 |
466598 |
2219199 |
16 |
17 |
1 |
0.445 |
4190 |
259 |
HADEBET BELAA |
11HBAC030 |
466598 |
2219199 |
17 |
18 |
1 |
0.357 |
3840 |
259 |
HADEBET BELAA |
11HBAC033 |
466900 |
2219203 |
9 |
10 |
1 |
0.273 |
3010 |
247 |
HADEBET BELAA |
11HBAC033 |
466900 |
2219203 |
10 |
11 |
1 |
0.260 |
5250 |
270 |
TOUERIG TAIEUH |
11TGAC013 |
444700 |
2218702 |
34 |
35 |
1 |
0.218 |
5650 |
354 |
HADEBET BELAA |
11HBAC031 |
466697 |
2219203 |
6 |
7 |
1 |
0.150 |
3090 |
276 |
HADEBET BELAA |
12HBRC007 |
467373 |
2219200 |
22 |
23 |
1 |
0.149 |
6530 |
114 |
HADEBET BELAA |
11HBAC030 |
466598 |
2219199 |
18 |
19 |
1 |
0.142 |
7770 |
238 |
HADEBET BELAA |
12HBAC073 |
463432 |
2217212 |
4 |
8 |
4 |
0.128 |
15 |
28.4 |
TOUERIG TAIEUH |
11TGAC033 |
431000 |
2212800 |
52 |
53 |
1 |
0.111 |
38 |
120 |
TOUERIG TAIEUH |
11TGAC053 |
430997 |
2210803 |
53 |
54 |
1 |
0.103 |
11 |
31 |
HADEBET BELAA |
11HBAC033 |
466900 |
2219203 |
11 |
12 |
1 |
0.102 |
5110 |
208 |
The analyses were carried by SGS
Laboratories using ICP-MS following a multi-acid digestion.
Peter Reeve, Aura Energy's
Executive Chairman said “Aura continues to be surprised on the
upside by the broad spectrum of metals and the potential for
further discoveries from its Tasiast South project. The opportunity
to explore a near virgin Greenstone belt, in a mining friendly
country, similar in geology to the prolific Kalgoorlie province
with its gold, nickel and copper discoveries, as the commodity
cycle recovers is an extremely rare one and these cobalt values
only further heighten our anticipation of exploration success in
this field”.
Aura's Tasiast South project area has the following
attributes;
-
Tenements over two lightly explored greenstone belts covering
175 km2
-
The +20 Moz Tasiast gold deposit is nearby on the same
greenstone belt and highlights the potential for major deposits in
the region (See Fig 2)
-
$3m has been expended by the
previous explorer on airborne geophysics, reverse circulation and
air-core drilling, and sampling
-
Broad zones of gold mineralisation have been identified with
strong similarities to the Tasiast Gold Mine mineralisation and
alteration
-
No testing deeper than 150m with most previous holes less than
100m
-
High grade drill intersections have been reported by others in
the district from both past and current programs, including one in
progress with Algold Resources (TSX), which highlight the current
interest and potential in these poorly tested belts
The Ghassariat Prospect intersections(See Fig 3 & 4) occur
in strongly sulphidic and quartz-veined mafic volcanics and have
marked similarities with some of the ore zones and near-ore
alteration zones at the neighbouring Kinross Tasiast Mine.
References in this announcement to exploration results and
potential have been approved for release by Mr Neil Clifford (Geologist and Member of the
Australasian Institute of Mining and Metallurgy) who has more than
40 years relevant experience in the field of activity concerned Mr
Clifford has consented to the inclusion of the material in the form
and context in which it appears.
For more information please visit www.auraenergy.com.au or
contact the following:
Aura Energy
Limited
Peter Reeve (Executive Chairman) |
Telephone: +61 (3) 9516
6500
info@auraenergy.com.au |
WH
Ireland Limited
Adrian Hadden
James Bavister |
Telephone: +44 (0) 207 220
1666 |
Yellow Jersey PR
Limited
Felicity Winkles
Joe Burgess |
Telephone:
+44 (0) 7748 843 871
+44 (0) 7769 325 254 |