22 September 2016
AURA ENERGY NOTES EXCEPTIONAL GOLD DRILLING RESULTS BY ALGOLD AT TIJIRIT PROSPECT, MAURITANIA
AURA RECENTLY SECURED ADJACENT TENEMENTS TO ALGOLD (TSX) ON PRIME UNDER EXPLORED ARCHEAN GREENSTONE BELTS
AURA'S TASIAST SOUTH TENEMENTS OFFER MULTI MILLION OUNCE GOLD & BASE METAL POTENTIAL ALONG 45 KMs OF GREENSTONE BELT WITH STRONG DRILL RESULTS
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Aura Energy recently secured rights to acquire 2 exploration permits (Tasiast South Project 27th June 2016) on extensive Archean Greenstone belts in Mauritania along strike from the +20 Moz Kinross Tasiast Gold Mine
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Excellent drilling results showing both system size and elevated gold grades from previous work at Tiris South
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TSX listed Algold Resources has recently reported excellent drilling results in tenements adjacent to Aura's
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Aura will soon commence an exploration program on both its highly prospective tenements
Aura Energy Limited (ASX:AEE / AIM:AURA) notes the exceptionally strong gold exploration results achieved by Algold Resources (TSX) at its Tijirit gold exploration prospect in Mauritania.
Aura's prospects cover portions of the Tasiast and Tijirit Greenstone Belts adjoining the Algold tenement and have been only lightly explored by one other company which suspended activities despite having located zones of significant gold mineralisation. Members of Aura's current technical team were involved in this previous work and are well acquainted with the area.
Aura's Tasiast South project consists of two tenements covering 175 km2 One tenement of 134 km2 lies 50 kilometres south of Kinross' giant 21 Moz Tasiast Gold Mine, along strike on the same greenstone belt. (See Figure 1)
The second tenement of 41 km2 is adjacent to Algold tenement package which has recently been reporting spectacular drilling results in several locations. (See Figure 1)
Figure 1: Location of the Aura Tasiast South Tenements and Algolds Tenements
The recent Algold results have included the following drill assays;
T16RC071 - 6 m @ 39.85 g/t Au,
T16RC070 - 3 m @ 30.03 g/t Au
T16RC045 - 5 m @ 6.64 g/t Au
T16RC035 - 7 m @ 3.2 g/t Au
T16RC069 - 3 m @ 2.03 g/t Au
T16RC024 - 6 m @ 4.23 g/t Au
T16RC072 - 4 m @ 1.35 g/t Au
T16RC083 - 2 m @ 5.47 g/t Au
T16RC027 - 6 m @ 16.4 g/t Au
T16RC031 - 6 m @ 9.64 g/t Au
T16RC024 - 6 m @ 4.23 g/t Au
Level 1 34-36 Punt Rd Windsor VIC 3181 Tel: +61 3 9516 6500 Email: [email protected] Website: www.auraenergy.com.au
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The full press releases on September 8th and 14th and August 16th 2016 explaining these results in detail can be found at; http://algold.com/press-release/
Figure 2: Location of Aura areas in relation to known mineralisation
Peter Reeve, Aura Energy's Executive Chairman said "Aura remains extremely optimistic about its recently acquired gold prospects in Mauritania. The exceptional gold exploration results of Algold, and in the region generally, are compelling for the future of Aura's gold exploration program given the similarity in the geological setting of each company's tenements and the very limited exploration of these extensive greenstone belt packages (See Figure 2). With the large Tasiast Gold Mine on the same belt just north of our project, and a maiden gold resource and very positive drilling results emerging on the Algold ground, the potential for multi-million ounce discoveries, in the eyes of our technical people, is high".
Future Work Program and Other Opportunities
Next steps envisaged at Tasiast South are:
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Ground electrical geophysics to locate the strongest zones of disseminated sulphide development for drill targeting
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Additional bedrock sampling by air-core or auger-drilling to better define the high nickel ultramafics and zones of copper/nickel for follow up drilling
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Deeper drill testing (RC and DD) of the mineralised targets already located
About Aura's Tasiast South Gold Project
Aura's Tasiast South project area has the following attributes;
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Tenements over two lightly explored greenstone belts covering 175 km2
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The +20 Moz Tasiast gold deposit and strong gold mineralisation at Algold's Tijirit project are nearby on the same greenstone belts and highlight the potential for major deposits in the region (See Figure 3)
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A$3m has been expended in a well conceived program by the previous explorer on airborne geophysics, reverse circulation and air-core drilling, and sampling
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Broad zones of gold mineralisation have been identified in previous exploration with strong similarities to the Tasiast Gold Mine mineralisation and alteration. (See Figure 5)
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No testing deeper than 150m with most previous holes less than 100m
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High grade drill intersections have been reported by others in the district from both past and current programs, which highlight the current interest and potential in these poorly tested belts
Figure 3: Location of the Tasiast South project