Aurora Energy: A new discovery

Aurora Energy has just announced some encouraging drill results located 15 kilometres west of the Jacques Lake deposit. Drilling along Aurora West have produced the following:

- 0.48% U3O8 over 0.5 metres and 0.11% U3O8 over 2.0 metres in AR07-002
- 0.07% U3O8 over 7.0 metres including 0.14% U3O8 over 2.0 metres in AR07-011
- 0.08% U3O8 over 4.9 metres including 0.15% U3O8 over 0.87 metres in AR07-008

Aurora went on to say that eight of these new drill holes have intersected uranium mineralization within 50 metres of surface with grades as high as 0.48% U3O8, prompting the President and CEO Mark O'Dea to say:

"These exciting results demonstrate that this regional structure is prospective for over 15 kilometres, with mineralization that extends from surface to depths of at least 50 metres."

If you wish to read the report in full just click this LINK

These results have so far today been well received by the market with both the stock prices for Aurora (AXU) and its major shareholder Fronteer Development Group (FRG) traded higher.

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Comments

[stoneygulch]

AXU up $1.13 today. And given this news about the discovery within a 15 km. distance, this speaks well for the Central Mineral Belt.

The reason I mention this is that Crosshair (CXX) is located very near the AXU properties (to the southeast) and they also are delivering encouraging exploration results. So, is CMB the next big uranium area of Canada?

[Uranium Stocks]

CXX peaked at around $4 and is now trading at around $1.70 but is showing signs of recovery - good luck with it.