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« UraMin Inc: Announces High Grade Drilling Results | Main | RPT Uranium Corporation: Up 7.69% on Friday »

Aurora Energy Resources Inc: One of the largest primary uranium projects in the world.

Aurora Chart 06jun07

As we can see from the chart above Aurora has been making steady progress and now looks set to rise even more over the summer months. The stock price for this uranium miner is managing to hold above its 50 DMA without being too far above its 200 DMA. The RSI has recently turned upwards along with the Stockastics and the MACD would appear to levelling out from its recent decline.

Aurora Energy Resources Incorporated announced yesterday 5th June 2007 the start of its 2007 uranium exploration and development program. The drilling element of this program has started and will run until November. Below follows a brief update of Aurora’s activities.

Aurora has budgeted C$21 million for one of the largest single-project uranium exploration campaigns in the world, utilising up to 9 drill rigs to carry out approximately 100,000 metres of drilling. Aurora has also submitted permit applications for work on the Aurora Corridor and Inda Lake Trend.

Over the last two years Aurora has increased its resource base from a historical 18 million pounds of uranium to its current 96 million pounds of uranium. This resource base is comprised of the Michelin and Jacques Lake deposits, which together rank as one of the largest primary uranium projects in the world.

It is still early days for these discoveries with their size expected to grow as expansion continues in all directions. These deposits are wide continuous near surface mineralization that lends itself to hard rock bulk tonnage mining techniques.

Aurora's drilling program will focus primarily on four key areas: the Michelin and Jacques Lake deposits, the Aurora Corridor and the Inda Lake Trend.

Surface sampling in the Aurora Corridor yielded an average surface grade of 0.34% uranium with an individual high of 13.3% uranium, which was not included in the average. Inda Lake has a collective historical resource base of approximately 3.1 million pounds according to Aurora's recent analysis, all of these deposits are open for expansion, and have the potential for continuity both along strike and at depth.

Everything would appear to be in place for a summer of exciting news flow from Aurora so we will try and keep you posted as events unfold.

Aurora Energy Resources Incorporated trades on the TSX as AXU.

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