Ownership: 100% Aura
Aura’s wholly owned Gunbarrel Project is located on the Yilgarn Craton in the far east of Western Australia and covers 3287.7 km2. In the early 1980s, PNC and Uranex explored the Gunbarrel tenements. From the early 1980s to 2005, no further exploration was conducted. In 2005, Aura acquired the project.
Focus is on Aura’s large palaeochannels, as several resources have been defined in the basin at similar locations. Approximately 100 million pounds U3O8 have been discovered in other channels in the region. Including: Mulga Rock 24,520 tonnes contained U3O8 (Energy and Minerals Australia) and Ponton 4,960 tonnes contained U3O8 (Manhattan). Drilling has identified uranium mineralisation in two of the palaeochannels. Initial drilling in July 2009 intersected 14 metres of radiometric anomalism in a hole, which contained two metres at 147 ppm U3O8 from gamma logging, and two metres at 85 ppm U3O8 from chemical analysis.
The company is seeking potential partners to begin a drilling programme to further test the potential of the palaeochannels.