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Aurora Energy Resources Inc. ("Aurora" or "the Company") (AXU:TSX) is pleased to announce the results of the final three holes from its 2008 summer drill program at the Company's 100% owned Jacques Lake deposit ("Jacques Lake") in the Central Mineral Belt, coastal Labrador.
"The final 2008 infill results continue to confirm the continuity of grade and the overall potential of Jacques Lake and its contribution to the Michelin Project," said Bruce Dumville, Aurora's President and CEO. "These shallow depth results will assist Aurora in moving the 43-101 compliant resources from inferred to indicated and measured, and will help advance the Michelin Project pre-feasibility study and the creation of outstanding value."
Highlights of the summer infill program include:
0.28% U3O8 over 7.00 metres and 0.14% U3O8 over 8.00 metres in JL08-99
0.11% U3O8 over 4.00 metres and 0.05% U3O8 over 12.5 metres in JL08-100
A total of 6,205 metres in fourteen holes have been completed as part of an infill drill program initiated earlier this summer. The drill results for the final holes are as follows:
|
Hole ID |
From (m) |
To (m) |
Length (m) |
%U3O8 |
|
JL08-098 |
342.00 |
343.00 |
1.00 |
0.11 |
|
JL08-099 |
230.00 |
237.00 |
7.00 |
0.28 |
|
and |
240.00 |
245.00 |
5.00 |
0.05 |
|
and |
268.00 |
276.00 |
8.00 |
0.14 |
|
JL08-100 |
49.00 |
61.50 |
12.50 |
0.05 |
|
incl. |
49.00 |
49.75 |
0.75 |
0.11 |
|
and incl. |
60.50 |
61.50 |
1.00 |
0.11 |
|
and |
104.00 |
106.00 |
2.00 |
0.17 |
|
and |
116.00 |
119.00 |
3.00 |
0.04 |
|
and |
189.00 |
193.00 |
4.00 |
0.11 |
|
*The mineralized zones at Jacques Lake are interpreted as a steep southeast dipping structure such that true widths are approximately 80-90% of stated widths |
For a view of the updated long section at Jacques Lake, please use the following link: http://www.aurora-energy.ca/files/JacquesLake_LS_260908.jpg.
Jacques Lake is one of six uranium deposits 100% owned by Aurora within the Central Mineral Belt of Labrador. In three years, it has evolved from an undrilled surface showing to a significant and growing deposit. A complete table of Aurora's Central Mineral Belt resources can be viewed at: http://www.aurora-energy.ca/files/Aurora_CMB_Resources_2008.jpg. Both the Jacques Lake and Michelin deposits lend themselves to conventional open pit and underground mining and processing techniques and both remain open for expansion.
ABOUT AURORA
Aurora is a uranium exploration and development company active in the Central Mineral Belt of coastal Labrador - one of the world's most promising uranium districts - and in Nunavut, Canada, where it has acquired an interest in the Baker Basin property through a deal with Pacific Ridge Exploration Ltd.
Aurora recently completed its 2008 summer drill program in Labrador, which included an infill drill campaign of 13,000 metres at the Jacques Lake and Michelin deposits. Aurora also completed a 3,750 metre geotechnical, environmental and metallurgical drill program in September. Engineering studies, environmental baseline studies and a tailings management options study are continuing.
Aurora has no debt and approximately $107 million in cash that is fully liquid and held with a large commercial bank.
Aurora is committed to responsible development, which includes community consultation, lasting local benefits and the highest standards of safety, health, and environmental protection.
For further information on Aurora, please contact:
Andrea Marshall
Manager, Government and Media Relations
709-726-2223
Don Falconer
VP, Corporate Development
416-362-5556
Corporate Information
www.aurora-energy.ca
Assay results have been prepared under the guidance of Cameron McLean, P.Geo., Exploration Manager, CMB Project for Aurora Energy Resources Inc., who is designated as a Qualified Person with the ability and authority to verify the authenticity of and validity of this data. Drill core was prepared and analyzed in accordance with industry standards by Activation Laboratories Ltd, Ancaster, Ontario.
Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking statements". Such forward-looking statements, including but not limited to, those with respect to the timing and amount of estimated future resources and resource conversion rates, future operations, project costs and production, potential for expansion of resources and potential size of future exploration programs and potential timing of receipt of permits and classification of future mineral resources, and potential for future benefits, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Aurora to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, future prices of uranium, environmental risks and hazards, increased infrastructure and/or operating costs, labor and employment matters, and government regulation as well as those factors discussed in the section entitled "Risk Factors" in Aurora's most recent Annual Information Form available on SEDAR at www.sedar.com. Although Aurora has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurora disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements. |