Aurora Energy Ltd
Aurora Energy Ltd is a member of the Paladin Energy Ltd group of companies and is the corporate entity that holds the group's 100% interest in significant uranium assets within the highly prospective Central Mineral Belt ("CMB") of Newfoundland and Labrador in Eastern Canada. These include the Michelin deposit (67.12Mlb Measured and Indicated and 36.08Mlb inferred Resources of U3O8) as well as the Jacques Lake, Rainbow, Nash, Inda and Gear deposits and has secured the most prospective ground within the CMB.
NI 43-101 compliant U3O8 resources have been defined across all the deposits as follows:-
- 83.8Mlb U3O8 Measured and Indicated Mineral Resources (40.2Mt ore at 0.09%)
- 53.0Mlb U3O8 Inferred Mineral Resources (29Mt ore at 0.08%)
Agreement to purchase these assets was announced on 17 December 2010 with settlement occurring on 1 February 2011.
For more detailed information regarding Aurora Energy Ltd please visit the website at www.aurora-energy.ca.