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Aurora Energy Resources
Inc. ("the Company" or "Aurora") (AXU:TSX) is pleased
to announce that it has received the final results from the three remaining
drill holes from the 2008 winter drill program and initial results from the
summer drill program at the Company's Michelin deposit
("Michelin") in coastal Labrador.
"The results
continue to reinforce the grade and widths of mineralization intersected in
both the recent and historic drilling at Michelin, enhancing the resource
value of the Michelin Project," said Dr. Mark O'Dea, President and CEO
of Aurora. "These results will assist Aurora in the conversion
of inferred to indicated NI 43-101 resource categories for pre-feasibility
work."
The 2008 drill program
focused on both infilling the deeper portion of the main deposit and
further confirmation drilling the shallow "open-pitable" part of
the deposit above 200 metres depth.
New highlights from
both programs are as follows:
- 0.10% U3O8 over 33.91 metres
(from 21.6 to 55.5 metres) including 0.25% U3O8
over 7.00 metres (from 21.6 to 28.6 metres) in M08-105
- 0.12% U3O8 over 13.21 metres
(from 107.9 to 121.1 metres) and 0.10% U3O8
over 7.37 metres (from 126.3 to 132.6 metres) in M08-093
- 0.14% U3O8 over 12.47 metres
and 0.08% U3O8 over 20.10
metres in M08-111
- 0.13% U3O8 over 12.50 metres
in M08-110
- 0.27% U3O8 over 7.96 metres in
M08-103
Detailed results can be
found in the table below.
|
Hole ID
|
From (m)
|
To (m)
|
Length* (m)
|
% U3O8
|
|
M08-093
|
107.89
|
121.10
|
13.21
|
0.12
|
|
incl
|
107.89
|
110.89
|
3.00
|
0.21
|
|
and
|
125.25
|
132.62
|
7.37
|
0.10
|
|
incl
|
128.5
|
129.5
|
1.00
|
0.27
|
|
M08-103
|
539.55
|
547.51
|
7.96
|
0.27
|
|
M08-105
|
21.57
|
55.48
|
33.91
|
0.10
|
|
incl
|
21.57
|
28.57
|
7.00
|
0.25
|
|
and
|
52.57
|
55.48
|
3.21
|
0.19
|
|
M08-109
|
491.77
|
503.04
|
11.27
|
0.11
|
|
incl
|
493.00
|
496.00
|
3.00
|
0.30
|
|
M08-110
|
565.5
|
578.00
|
12.50
|
0.13
|
|
incl
|
566.5
|
577.00
|
10.50
|
0.15
|
|
M08-111
|
553.11
|
565.58
|
12.47
|
0.14
|
|
and
|
571.60
|
591.70
|
20.10
|
0.08
|
|
incl
|
571.60
|
576.48
|
4.88
|
0.21
|
|
M08-115
|
545.42
|
547.42
|
2.00
|
0.15
|
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*The orientation of the mineralized zones is interpreted to be
moderately to steeply southeast dipping and true widths are approximately
80% of stated widths
** Holes M08-107, M08-108, M08-112, M08- 113, M08-114 were lost,
abandoned, or incomplete
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For a view of the
updated long section of the Michelin deposit, please use the following
link: www.aurora-energy.ca/files/Michelin_LS_073108.jpg.
[image to be available shortly]
ABOUT AURORA
Aurora is a uranium
development company focused on the Central Mineral Belt in coastal Labrador
- one of the world's most promising uranium districts. Aurora is currently
completing its 2008 summer work program, details of which can be found in
the May 15, 2008 news release titled, "Aurora's 2008 Work Program Aims
to Progress Community Efforts and Demonstrate Resource Value".
Aurora has no debt and
approximately $113 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 Relations and Public Affairs
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 Steve Barrett, P.Geo., Exploration
Manager 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,
include but are not limited to, those with respect to the timing and amount
of estimated future resources and resource conversion rates, potential for
expansion of resources, estimates of potential mineralization 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, and estimates
of mineralization, uncertainty in the estimation of mineral resources,
changes in project parametres 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 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.
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