Aurora Energy Metals on-track for US uranium drilling on Oregon acreage; new land bought

Tue 27 Sep 22, 11:04am (AEST)
A photograph of four nuclear reactor vent towers at a facility in the Czech Republic
Source: Unsplash

Key Points

  • Aurora’s State and Federal drilling compliance documentation is on track for completion and acceptance
  • Mineral Resource estimate for uranium on-site close to completion
  • Aurora has purchased land in Nevada on which it intends to build downstream infrastructure; further claims staked in Oregon

Aurora Energy Metals (ASX:1AE) is on track to commence drilling for uranium at its project in southeast Oregon, USA.

The company’s compliance team is progressing applications with Oregon state entities, and the Bureau of Lands Management (BLM); the latter entity is America’s equivalent of Canberra’s Federal environment department. 

The company has also snatched up 410 acres of land in neighbouring state Nevada, where it intends to build a downstream processing and tailings facility to process the ore mined from the uranium project just over the border next door. 

It really is “just over the border”—the two locations are only 12km apart by sealed road with transmission lines connecting through. 

The play is not only prospective for uranium, but also lithium, firmly placing the company in a unique position to benefit from two key themes in the emerging decarbonisation-focused new energy sector. 

17-hole drill program to launch 

Once the company has cleared the hurdles of red tape, it will be free to launch an RC drill program covering 17 holes. Ultimately, the approval for this campaign lies in the remit of Oregon’s Oregon Department of Geology and Mineral Industries (DOGAMI). 

The company is applying to the Federal BLM for a second stage RC and diamond drill campaign to follow the first; when exactly this will happen is not disclosed. 

Once it receives BLM approval for stage 2 drilling, Aurora can then progress its application to DOGAMI. 

The company’s geotechs are currently on-site conducting fieldwork with boots on the ground. Aurora also notes it has “enhanced” its knowledge of working with Oregon regulators through the process. 

Good progress continues: management 

“We’ve continued to make good progress across all aspects of the project since our listing in mid-May,” Aurora MD Greg Cochran said. 

Worth noting is that Cochran is the former chief of ASX-listed uranium player Deep Yellow (ASX:DYL)

“Our focus has been broad to enable us to make progress not only on the exploration front, but also in regard to critical factors that can only enhance the prospects for future delivery.” 

“We are looking forward to our first phase drilling permit so that can get underway as we recognise the value that could be unlocked by stage 1 drilling.” 

The look of Aurora's three month charts
The look of Aurora's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Aurora was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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