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« Major decisions await the next President | Main | Indian opposition to uranium mining »
Tuesday
May062008

Aurora Energy: Good drill results

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Aurora Energy Resources Incorporated has released an update regarding their current drill programme at the Jacques Lake Resource.

Highlights from their winter infill drilling program were as follows:

- 0.10% U3O8 over 40.79 metres including 0.19% U3O8 over 11.79 metres in JL08-080
- 0.12% U3O8 over 6.00 metres including 0.22% U3O8 over 2.00 metres in JL08-082
- 0.11% U3O8 over 10.50 metres including 0.14% U3O8 over 6.00 metres in JL08-087.

"The results reinforce the grade and tonnage estimates of this growing asset and the very significant potential of Jacques Lake, the results are similar to those for the Michelin Deposit in its initial exploration stages,"

According to Aurora's President and CEO, Dr. O'Dea.

Also worthy of note is that there is no groundwater, metallurgical or rock mechanic issues identified to date at the Jacques Lake Deposit, which is good to know.

However the news came out at the close of business with the stock trading at $3.45, down $0.06 on the day on turnover of 170,391 shares. Still it is good news and more than welcome if you are a holder of this uranium stock as we are. This infill drill programme adds credence to what is already considered to be one of the largest undeveloped uranium deposits in the world. If they could find a way to lift the moratorium that hangs over them we would be going places, until then all they can do is to continue and prove up the resource.

Have a good one.

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