(ASX: 1AE) Aurora Energy Metals

Aurora Energy Metals Project

Aurora Energy Metals (ASX: 1AE) is an Australian company focused on the exploration and development of its Aurora Energy Metals Project in Oregon, USA. The Project hosts a defined uranium resource and is prospective for lithium. The Company will conduct exploration and evaluation programs to assess the potential of both these minerals.

The company’s vision is to produce minerals critical to the USA’s clean energy transition. The Project consists of a large, well-defined uranium resource with lithium mineralisation in the lakebed sediments above and surrounding the uranium deposit. After listing on the ASX in May 2022, Aurora has demonstrated its ability to move quickly.

The Aurora Energy Metals Project (AEMP) in South-East Oregon boasts one of the largest, well-defined uranium resources in the USA (107.3Mt @ 214ppm eU3O8 for 50.6 Mlb eU3O8) and also hosts known lithium mineralisation in the lakebed sediments above and surrounding the uranium deposit.

AEMP contains a well-defined, significant Uranium Mineral Resource in shallow volcanics, with high grade concentration at unconformity with overlying lake sediments. Multiple, thick intercepts of lithium mineralisation have also been identified in the lake sediments, and a number of drillholes have been assayed for lithium, with results including 9.1m @ 2,414ppm Li from 21.9m and 6.4m @ 2,145ppm Li from 25.6m. The Company believes there is potential for two geologically separate deposits to be delineated and developed, providing economies of scale. The Li bearing sediments are similar to two large lithium projects in the region, including Jindalee Resources’ McDermitt Li Project (Indicated & Inferred MRE 1.43Bt at 1,320ppm Li for 10.1Mt LCE).