Published on Tuesday October 01 2013 (AEST)
The region is regarded by many as one of the world's least explored for calcrete uranium deposits. The deal with Groupe Azizi could expand the company’s existing nearby Oum Ferkik resource of 16 million tonnes at 305pp U3O8.
Reconnaissance by Aura, and work by Groupe Azizi, has previously confirmed the presence of widespread uranium mineralisation at, or close to surface, in the two permits.
Several pits dug by the company contained visible carnotite mineralisation that returned between 400ppm and 540ppm eU3O8, measured by spectrometer.
In addition, the permits contain 30 square kilometres of strong radiometric anomalies that Aura’s recent experience in the Reguibat Project indicates is directly linked to uranium mineralisation.
Under the terms of the Agreement, Aura can earn a 65% interest in the tenements by completing a preliminary feasibility study.
The company is currently assaying 150 samples of soils collected from the permits by Groupe Azizi to obtain a better picture of the distribution of uranium.
It then plans to carry out ground radiometric surveys and further sampling to define targets for drilling.