Wondinong Project

Wondinong Project

Ownership: 100% Aura
Location: Eastern shore of Lake Austin near Mount Magnet in Western Australia
Coverage Area: 51.5 km2
Assay Test Results: JORC compliant inferred resource of seven million pounds of U3O8 at 100 ppm cut-off grade
Status: 72 hole drill programme permitted

Aura’s wholly owned Wondinong Project is located on the eastern shore of Lake Austin near Mount Magnet in Western Australia and covers 51.5 km2.

Surficial uranium mineralisation was first discovered by Western Mining Corporation (WMC) in the 1970s. Aura Energy acquired the project in 2006. Subsequent exploration by Aura has expanded the known mineralisation into a significant deposit covering an area approximately four kilometres wide by seven kilometres long. The Wondinong Project has an inferred resource of seven million pounds of U₃O₈ at 100 ppm cut-off grade compliant with the JORC Code. There is potential to increase the inferred resource via further in-fill drilling and untested extensions to the south and northwest. The main mineralisation occurs as a flat-lying, tabular shaped deposit, the top of which is between 0.3 and 2.4 metres below the current ground surface, with a second deeper zone developed between 3.5 and 4.5 metres on the north-western edge of the deposit.

Aura is currently converting the area of the resource to a mining lease.

Aura has permitted a 72 hole drill programme in the Wondinong and Wondinong Northeast licenses to in-fill and extend the area of uranium mineralisation.