VANCOUVER, BRITISH COLUMBIA (TSX: AXU) is pleased to announce
that drilling along the Inda Lake Trend has continued to intersect
significant intervals of uranium mineralization at the Gear, Inda
and Nash deposits, along with multiple intercepts of encouraging
silver +/- copper +/- gold. The repeated association of uranium
with precious and base metals opens up the potential for new
deposit types and discovery opportunities in this important
Canadian uranium district.
"As Aurora moves its large resource towards development, we are
excited to continue making advances on the exploration front," said
Dr. Mark O'Dea, Aurora's President and CEO. "These new results
clearly demonstrate that this emerging uranium district is still in
its exploration infancy. We have now established a pipeline of six
growing open-pitable uranium deposits in our district, with
multiple targets yet to be tested."
The following drill results from Inda, Gear and Nash are very
similar, in terms of grade and thickness, to intersections obtained
from early shallow drilling at both Aurora's Michelin and Jacques
Lake Deposits.
INDA DEPOSIT
Uranium at the Inda Lake Deposit has been traced over a strike
length of 1,400 metres, and drill tested locally to a depth of 400
metres. This growing deposit has approximately the same strike
length as Michelin and remains open for expansion in all
directions. An aggressive drilling campaign is planned for the 2008
field season.
Seven drill holes were completed over the southern portion of
the Inda deposit in 2007. All holes intersected encouraging levels
of uranium +/- silver +/- copper mineralization over variable
widths and grades. New assay highlights include:
- 0.03% U3O8, and 148 grams per tonne silver (4.3 ounces per
ton) over 6.50 metres in I07-007
- 0.08% U3O8 over 7.00 metres in I07-004
- 0.05% U3O8 over 24.00 metres in I07-006
Similar polymetallic results were intersected during Aurora's
2006 drill program, including:
- 4.38% U3O8, 30.1 grams per tonne silver, and 1.07% copper over
2.07 metres in I06-001
GEAR DEPOSIT
Assay results received for the final three of six holes
completed at the Gear deposit have returned noteworthy levels of
silver, copper and gold in spatial association with the expanding
uranium mineralization. New assay highlights include:
- 16.0 grams per tonne silver, and 0.43% copper over 4.04 metres
in G07-004
- 0.4 grams per tonne gold, 4.0 grams per tonne silver, and
0.32% copper over 1.00 metre in G07-008
Similar metal associations were intersected during Aurora's 2006
drill program, including:
- 0.33% U3O8, 31.0 grams per tonne silver, 0.13% copper over
2.00 metres and 0.10% U3O8, 31.6 grams per tonne silver, 0.73%
copper over 3.66 metres in G06-001A
- 0.09% U3O8, 22.5 grams per tonne silver, 0.59% copper over
3.86 metres and 19.4 grams per tonne silver and 0.50% copper over
1.08 metres in G06-003
The main zone of uranium mineralization at Gear has now been
intersected over a strike length of 200 metres. The deposit remains
open to the southwest and down-plunge below a vertical depth of 300
metres. An aggressive drilling campaign is planned for 2008.
NASH DEPOSIT
Four holes were drilled in 2007 below the historic Nash deposit.
All four holes successfully intersected uranium mineralization and
the deposit remains open down-dip with further drilling planned for
2008. New assay highlights include:
- 0.11% U3O8 over 4.00 metres in N07-005
- 0.08% U3O8 over 4.00 metres in N07-006
Table: Inda Lake Trend - Summary of 2006-2007 Assay Composites
---------------------------------------------------------------------------
Gear - 2006-2007 Assay Highlights
---------------------------------------------------------------------------
Hole ID From (m) To (m) Width (m) U3O8 % Silver g/t Copper % Gold g/t
---------------------------------------------------------------------------
G06-001A 217.32 220.98 3.66 0.10 31.6 0.73 NSV
---------------------------------------------------------------------------
and 229.00 231.00 2.00 0.33 31.0 0.13 NSV
---------------------------------------------------------------------------
G06-002 NSV
---------------------------------------------------------------------------
G06-003 67.42 68.50 1.08 0.01 19.4 0.50 NSV
---------------------------------------------------------------------------
and 71.00 74.86 3.86 0.09 22.5 0.59 NSV
---------------------------------------------------------------------------
G07-004 321.46 325.50 4.04 NSV 16.0 0.43 NSV
---------------------------------------------------------------------------
and 370.50 372.50 2.00 NSV 0.9 0.04 0.4
---------------------------------------------------------------------------
and 379.50 380.50 1.00 NSV 1.0 0.03 0.9
---------------------------------------------------------------------------
G07-005 346.00 369.00 23.00 0.10 NSV NSV NSV
---------------------------------------------------------------------------
incl. 358.00 368.00 10.00 0.17 NSV NSV NSV
---------------------------------------------------------------------------
and incl. 361.00 367.00 6.00 0.22 NSV NSV NSV
---------------------------------------------------------------------------
and incl. 363.00 364.00 1.00 0.45 NSV NSV NSV
---------------------------------------------------------------------------
G07-006 NSV
---------------------------------------------------------------------------
G07-007 Hole abandoned due to excessive deviation
---------------------------------------------------------------------------
G07-007A 320.17 330.00 9.83 0.13 NSV NSV NSV
---------------------------------------------------------------------------
incl. 328.00 329.00 1.00 0.27 NSV NSV NSV
---------------------------------------------------------------------------
G07-008 17.00 18.00 1.00 NSV 4.0 0.32 0.4
---------------------------------------------------------------------------
------------------------------------------------------------------
Inda - 2006-2007 Assay Highlights
------------------------------------------------------------------
Hole ID From (m) To (m) Width (m) U3O8 % Silver g/t Copper %
------------------------------------------------------------------
I06-001 146.88 148.95 2.07 4.38 30.1 1.07
------------------------------------------------------------------
I07-002 271.00 276.00 5.00 0.08 0.7 0.02
------------------------------------------------------------------
incl. 274.00 275.00 1.00 0.10 0.7 0.02
------------------------------------------------------------------
and 311.00 313.00 2.00 0.11 0.7 0.02
------------------------------------------------------------------
and 318.00 320.00 2.00 0.16 1.0 0.01
------------------------------------------------------------------
and 339.00 345.00 6.00 0.05 NSV 0.02
------------------------------------------------------------------
I07-003 126.00 130.00 4.00 0.08 0.9 0.01
------------------------------------------------------------------
I07-004 156.00 163.00 7.00 0.08 0.8 0.01
------------------------------------------------------------------
I07-005 133.00 134.00 1.00 0.05 2.3 0.01
------------------------------------------------------------------
I07-006 139.00 163.00 24.00 0.05 5.1 0.01
------------------------------------------------------------------
incl. 150.00 151.00 1.00 0.06 42.6 0.02
------------------------------------------------------------------
I07-007 247.00 248.00 1.00 0.04 2.2 0.01
------------------------------------------------------------------
and 284.00 290.00 6.00 0.04 22.6 0.02
------------------------------------------------------------------
and 303.00 309.50 6.50 0.03 148.0 0.05
------------------------------------------------------------------
incl. 305.00 306.00 1.00 0.07 150.0 0.02
------------------------------------------------------------------
and 310.05 311.00 0.95 0.11 39.0 0.01
------------------------------------------------------------------
I07-008 Hole abandoned due to excessive deviation
------------------------------------------------------------------
I07-008A 425.00 427.00 2.00 0.13 1.1 0.01
------------------------------------------------------------------
and 437.00 443.00 6.00 0.08 0.7 0.01
------------------------------------------------------------------
--------------------------------------------
Nash 2006 - 2007 Assay Highlights
--------------------------------------------
Hole ID From (m) To (m) Width (m) U3O8 %
--------------------------------------------
N06-001 28.00 32.00 4.00 0.21
--------------------------------------------
N06-002 23.38 26.79 3.41 0.25
--------------------------------------------
N07-003 194.00 195.00 1.00 0.03
--------------------------------------------
N07-004 278.00 279.00 1.00 0.06
--------------------------------------------
N07-005 218.00 222.00 4.00 0.11
--------------------------------------------
incl. 219.00 220.00 1.00 0.34
--------------------------------------------
N07-006 355.00 356.00 1.00 0.08
--------------------------------------------
and 361.00 365.00 4.00 0.08
--------------------------------------------
incl. 364.00 365.00 1.00 0.11
--------------------------------------------
and 373.00 374.00 1.00 0.11
--------------------------------------------
The orientation of the mineralized zones is interpreted to be
moderately to steeply southeast dipping and stated widths are
approximately 80% of true widths.
For a map of the uranium surface showings, please click on
http://www.aurora-energy.ca/files/ProjectMap
A view of the Inda Lake Trend with drill hole locations will be
posted shortly.
COMPANY ACTIVITIES
An updated resource estimate for the Michelin, Jacques Lake,
Gear, Inda, Nash, and Rainbow Deposits will be forthcoming in
coming weeks.
The Company plans to submit its Project Description to federal
and provincial authorities in the second quarter of 2008 to
initiate the environmental assessment process for the Michelin
Project (which includes the Michelin and Jacques Lake
deposits).
Aurora has commenced a two-month winter program of in-fill and
geotechnical drilling on both the Michelin and Jacques Lake
Deposits and is undertaking engineering studies to move the project
towards development.
ABOUT AURORA
Aurora (TSX: AXU) is a uranium exploration and development
company focused on the Central Mineral Belt in coastal Labrador -
one of the world's most promising uranium districts.
Aurora's uranium district has a defined resource of 58 million
pounds of uranium (5 million measured and 53 million indicated) and
38 million pounds (inferred)(i). Aurora is undertaking
pre-feasibility studies to move the project towards
development.
Aurora is committed to responsible development with lasting
local benefits and the highest standards of safety, health, and
environmental protection.
Assay results have been prepared under the guidance of Mr. Ian
Cunningham-Dunlop, P. Eng, Exploration Vice-President for Aurora
Energy Resources Inc., who is designated as a Qualified Person with
the ability and authority to verify the authenticity of and
validity of this data. Drill core was prepared and analyzed in
accordance with industry standards by Activation Laboratories Ltd.,
Ancaster, Ontario.
(i)The Independent Qualified Person responsible for the current
resource estimates for the Michelin and Jacques Lake Uranium
Deposits is Gary Giroux, P. Eng. of Giroux Consultants Ltd. Further
details as to how these resources are calculated can be obtained by
reading The Exploration Activities of Aurora Energy Resources Inc.
on the CMB Uranium Property, Labrador, Canada, During the Period
January 2006 to January 2007 prepared to NI 43-101 requirements
which is available for viewing on SEDAR at www.sedar.com.
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements". Such forward-looking statements, including but not
limited to, those with respect to the timing and amount of
estimated future resources and resource conversion rates, potential
for expansion of resources and potential size of future exploration
programs and potential timing of receipt of permits and
classification of future mineral resources, and potential for
future benefits, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievement of Aurora to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others,
risks related to the actual results of current exploration
activities, conclusions of economic evaluations, uncertainty in the
estimation of mineral resources, changes in project parameters as
plans continue to be refined, future prices of uranium,
environmental risks and hazards, increased infrastructure and/or
operating costs, labor and employment matters, and government
regulation as well as those factors discussed in the section
entitled "Risk Factors" in Aurora's Annual Information Form
available on SEDAR at www.sedar.com. Although Aurora has attempted
to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. Aurora disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Contacts: Aurora Energy Resources Inc. Andrea Marshall Manager,
Government and Media Relations (709) 726-2223 Aurora Energy
Resources Inc. Don Falconer VP, Corporate Development (416)
362-5556 Website: www.aurora-energy.ca
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