Aurora's Michelin Infill Drilling Program Progresses Resource Conversion
August 05 2008 - 9:28AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: AXU) is pleased to announce
that it has received the final results from the three remaining
drill holes from the 2008 winter drill program and initial results
from the summer drill program at the Company's Michelin deposit
("Michelin") in coastal Labrador.
"The results continue to reinforce the grade and widths of
mineralization intersected in both the recent and historic drilling
at Michelin, enhancing the resource value of the Michelin Project,"
said Dr. Mark O'Dea, President and CEO of Aurora. "These results
will assist Aurora in the conversion of inferred to indicated NI
43-101 resource categories for pre-feasibility work."
The 2008 drill program focused on both infilling the deeper
portion of the main deposit and further confirmation drilling the
shallow "open-pitable" part of the deposit above 200 metres
depth.
New highlights from both programs are as follows:
- 0.10% U3O8 over 33.91 metres (from 21.6 to 55.5 metres)
including 0.25% U3O8 over 7.00 metres (from 21.6 to 28.6 metres) in
M08-105
- 0.12% U3O8 over 13.21 metres (from 107.9 to 121.1 metres) and
0.10% U3O8 over 7.37 metres (from 126.3 to 132.6 metres) in
M08-093
- 0.14% U3O8 over 12.47 metres and 0.08% U3O8 over 20.10 metres
in M08-111
- 0.13% U3O8 over 12.50 metres in M08-110
- 0.27% U3O8 over 7.96 metres in M08-103
Detailed results can be found in the table below.
-----------------------------------------------------------
Hole ID From (m) To (m) Length(i)(m) % U3O8
-----------------------------------------------------------
M08-093 107.89 121.10 13.21 0.12
-----------------------------------------------------------
incl 107.89 110.89 3.00 0.21
-----------------------------------------------------------
and 125.25 132.62 7.37 0.10
-----------------------------------------------------------
incl 128.5 129.5 1.00 0.27
-----------------------------------------------------------
M08-103 539.55 547.51 7.96 0.27
-----------------------------------------------------------
M08-105 21.57 55.48 33.91 0.10
-----------------------------------------------------------
incl 21.57 28.57 7.00 0.25
-----------------------------------------------------------
and 52.57 55.48 3.21 0.19
-----------------------------------------------------------
M08-109 491.77 503.04 11.27 0.11
-----------------------------------------------------------
incl 493.00 496.00 3.00 0.30
-----------------------------------------------------------
M08-110 565.5 578.00 12.50 0.13
-----------------------------------------------------------
incl 566.5 577.00 10.50 0.15
-----------------------------------------------------------
M08-111 553.11 565.58 12.47 0.14
-----------------------------------------------------------
and 571.60 591.70 20.10 0.08
-----------------------------------------------------------
incl 571.60 576.48 4.88 0.21
-----------------------------------------------------------
M08-115 545.42 547.42 2.00 0.15
-----------------------------------------------------------
(i) The orientation of the mineralized zones is interpreted to be
moderately to steeply southeast dipping and true widths are
approximately 80% of stated widths
(ii) Holes M08-107, M08-108, M08-112, M08-113, M08-114 were lost,
abandoned, or incomplete
For a view of the updated long section of the Michelin deposit,
please use the following link:
www.aurora-energy.ca/files/Michelin_LS_073108.jpg.
ABOUT AURORA
Aurora is a uranium development company focused on the Central
Mineral Belt in coastal Labrador - one of the world's most
promising uranium districts. Aurora is currently completing its
2008 summer work program, details of which can be found in the May
15, 2008 news release titled, "Aurora's 2008 Work Program Aims to
Progress Community Efforts and Demonstrate Resource Value".
Aurora has no debt and approximately $113 million in cash that
is fully liquid and held with a large commercial bank.
Aurora is committed to responsible development, which includes
community consultation, lasting local benefits and the highest
standards of safety, health, and environmental protection.
Assay results have been prepared under the guidance of Steve
Barrett, P.Geo., Exploration Manager 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.
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements". Such forward-looking statements, include but are not
limited to, those with respect to the timing and amount of
estimated future resources and resource conversion rates, potential
for expansion of resources, estimates of potential mineralization
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, and estimates of mineralization,
uncertainty in the estimation of mineral resources, changes in
project parametres 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 Relations and Public Affairs (709) 726-2223 Aurora
Energy Resources Inc. Don Falconer VP, Corporate Development (416)
362-5556 Website: www.aurora-energy.ca
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