Aura Energy Limited Potential for vanadium at Tiris uranium project (3053E)
October 17 2018 - 2:20AM
UK Regulatory
TIDMAURA
RNS Number : 3053E
Aura Energy Limited
17 October 2018
TO VIEW THE FULL ANNOUNCEMENT AS A PDF PLEASE VISIT THE COMPANY
WEBSITE:
http://www.auraenergy.com.au/announcements-2018.html
17 October 2018
AURA ENERGY LIMITED
("Aura" or the "Company")
INVESTIGATION INITIATED FOR RECOVERY OF VANADIUM AT TIRIS
URANIUM PROJECT
VANADIUM OCCURS IN URANIUM HOST MINERAL CARNOTITE
VANADIUM EXTRACTED IN LEACHING CIRCUIT WITH URANIUM
Aura Energy Limited (AEE; ASX, AURA; AIM) is pleased to advise
that technical investigations during the Tiris Definitive
Feasibility Study have indicated the potential for the recovery of
vanadium from the Tiris Uranium Project process streams.
Vanadium occurs with uranium in carnotite, the host mineral for
uranium in the Tiris Project, as potassium uranium vanadate (K(2)
(UO(2) )(2) (VO(4) )(2) --3H(2) O). Vanadium hosted with carnotite
is leached alongside uranium in the Tiris extraction circuit.
Aura has conducted preliminary evaluation at its 100% owned
52-million-pound U O calcrete uranium project in Mauritania on the
feasibility of vanadium recovery from solution.
The Tiris project value, which is driven by low operating and
development capital costs, would benefit further with vanadium
recovery which is considered technically achievable.
The vanadium price has risen approximately 500% over the past 3
years and was recently quoted at US$28.10 per lb(2) , benefitting
from significant structural shifts in the Chinese steel industry
where, in some cases, legislation has driven a three-fold increase
in vanadium use.
Figure 1. Location of Aura's Tiris Uranium Resources
This new vanadium initiative at Tiris is part of the continuing
theme of Aura Energy's Battery Metal development strategy which has
helped broaden its portfolio significantly.
Aura recently announced a significant high-grade vanadium
resource at its Häggån Vanadium Project in Sweden (release dated 23
May 2018) and this vanadium initiative at Tiris further builds on
the strategic direction Aura has taken with the addition of
vanadium to its portfolio.
Further studies and test work, including capital and operating
estimates, are required to fully investigate the economic viability
of adding a vanadium ion exchange and purification circuit to the
Tiris Project. The changes, however, would be considered only
marginal additions to the existing design of the uranium recovery
circuit.
Vanadium occurs in the Tiris ore at a grade of 330 ppm V(2) O(5)
(3) a similar concentration to that of U(3) O(8) . Approximately
half of this vanadium occurs within the uranium host carnotite.
The Vanadium Project provides the opportunity for near term
production of vanadium pentoxide (V(2) O(5) ), with entry to the
vanadium market while Aura's world class Häggån Battery Metals
Project is under development.
"The potential for vanadium recovery at the Tiris Uranium
Project is an exciting initiative which highlights the ongoing
culture of innovation and strong science within Aura Energy and its
team. This has the potential to influence Tiris production costs
strongly and takes advantage of a commodity that is currently
undergoing a significant resurgence".
"As a complementary strategy to the activity at the Häggån
deposit in Sweden, this Tiris Vanadium Project will strengthen
Aura's credentials as an important future vanadium producer", Mr
Peter Reeve, Aura's Executive Chairman, said.
The uranium resource inventory announced in Aura ASX
announcement dated April 30, 2018 "Tiris Resource Upgrade Success"
is summarised in Table 1
Table 1. Tiris Resource Inventory
(1) Source: Aura ASX announcement dated April 30, 2018 "Tiris
Resource Upgrade Success"
2 Source: www.vanadiumprice.com vanadium pentoxide flake 98%
price, China
3 Vanadium has been assayed in approximately 1 in 10 of all
Tiris drillhole samples. Within all of Aura's Tiris uranium
mineralised drillhole samples (that is samples containing greater
than 100 ppm U(3) O(8) ), 402 samples have been assayed for
vanadium and these average 330 ppm V(2) O(5) .
The Competent Person for drill hole data is Mr Neil Clifford.
The information in the report to which this statement is attached
that relates to the resource is based on information compiled by Mr
Neil Clifford. Mr Clifford has sufficient experience that is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking. This
qualifies Mr Clifford as a Competent Person as defined in the 2012
edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Mr Clifford is an
independent consultant to Aura Energy. Mr Clifford is a Member of
the Australasian Institute of Mining and Metallurgy (AusIMM). Mr
Clifford consents to the inclusion in the report of the matters
based on his information 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 Telephone: +61 (3) 9516 6500
Peter Reeve (Executive Chairman) info@auraenergy.com.au
WH Ireland Limited Telephone: +44 (0) 207 220
Adrian Hadden 1666
James Sinclair-Ford
Yellow Jersey PR Limited Telephone:
Charles Goodwin +44 (0) 7748 843 871
Joe Burgess +44 (0) 7769 325 254
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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