Aurora's Final 2008 Infill Drill Results Continue to Strengthen the Resource Value of Jacques Lake, Labrador
October 01 2008 - 4:57PM
Marketwired
Aurora Energy Resources Inc. ("Aurora" or "the Company") (TSX: AXU)
is pleased to announce the results of the final three holes from
its 2008 summer drill program at the Company's 100% owned Jacques
Lake deposit ("Jacques Lake") in the Central Mineral Belt, coastal
Labrador.
"The final 2008 infill results continue to confirm the
continuity of grade and the overall potential of Jacques Lake and
its contribution to the Michelin Project," said Bruce Dumville,
Aurora's President and CEO. "These shallow depth results will
assist Aurora in moving the 43-101 compliant resources from
inferred to indicated and measured, and will help advance the
Michelin Project pre-feasibility study and the creation of
outstanding value."
Highlights of the summer infill program include:
- 0.28% U3O8 over 7.00 metres and 0.14% U3O8 over 8.00 metres in
JL08-99
- 0.11% U3O8 over 4.00 metres and 0.05% U3O8 over 12.5 metres in
JL08-100
A total of 6,205 metres in fourteen holes have been completed as
part of an infill drill program initiated earlier this summer. The
drill results for the final holes are as follows:
-----------------------------------------------------------
Hole ID From (m) To (m) Length (m) %U3O8
-----------------------------------------------------------
JL08-098 342.00 343.00 1.00 0.11
-----------------------------------------------------------
JL08-099 230.00 237.00 7.00 0.28
-----------------------------------------------------------
and 240.00 245.00 5.00 0.05
-----------------------------------------------------------
and 268.00 276.00 8.00 0.14
-----------------------------------------------------------
JL08-100 49.00 61.50 12.50 0.05
-----------------------------------------------------------
incl. 49.00 49.75 0.75 0.11
-----------------------------------------------------------
and incl. 60.50 61.50 1.00 0.11
-----------------------------------------------------------
and 104.00 106.00 2.00 0.17
-----------------------------------------------------------
and 116.00 119.00 3.00 0.04
-----------------------------------------------------------
and 189.00 193.00 4.00 0.11
-----------------------------------------------------------
- The mineralized zones at Jacques Lake are interpreted as a steep
southeast dipping structure such that true widths are approximately
80-90% of stated widths
For a view of the updated long section at Jacques Lake, please
use the following link:
http://www.aurora-energy.ca/files/JacquesLake_LS_260908.jpg.
Jacques Lake is one of six uranium deposits 100% owned by Aurora
within the Central Mineral Belt of Labrador. In three years, it has
evolved from an undrilled surface showing to a significant and
growing deposit. A complete table of Aurora's Central Mineral Belt
resources can be viewed at:
http://www.aurora-energy.ca/files/Aurora_CMB_Resources_2008.jpg.
Both the Jacques Lake and Michelin deposits lend themselves to
conventional open pit and underground mining and processing
techniques and both remain open for expansion.
ABOUT AURORA
Aurora is a uranium exploration and development company active
in the Central Mineral Belt of coastal Labrador - one of the
world's most promising uranium districts - and in Nunavut, Canada,
where it has acquired an interest in the Baker Basin property
through a deal with Pacific Ridge Exploration Ltd.
Aurora recently completed its 2008 summer drill program in
Labrador, which included an infill drill campaign of 13,000 metres
at the Jacques Lake and Michelin deposits. Aurora also completed a
3,750 metre geotechnical, environmental and metallurgical drill
program in September. Engineering studies, environmental baseline
studies and a tailings management options study are continuing.
Aurora has no debt and approximately $107 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 Cameron
McLean, P.Geo., Exploration Manager, CMB Project 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, including but not
limited to, those with respect to the timing and amount of
estimated future resources and resource conversion rates, future
operations, project costs and production, 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 most recent 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 Aurora Energy Resources Inc. Corporate Information
Website: www.aurora-energy.ca
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