Porcupine Well Project

Ownership: 100% Aura
Location: South East of Wiluna, WA
Coverage Area: 52.5 km²
Assay Test Results: Samples below 1.5 metres contain values above 67 ppm U₃0₈
Status: Drilled 40 air core holes. Holes will be sampled and radiometrically logged with results Pending.

Porcupine Well was acquired in 2006, when a significant geophysical anomaly was recognised in the area.

Porcupine Well is located midway between the Lake Way/Centipede and the Lake Maitland deposits in Western Australia’s major calcrete uranium region and covers 52.5 km². Toro Energy has a 23.9 million pounds U308 resource at Lake Way/Centipede with average grades of over 500 ppm and recently purchased a newly discovered zone of mineralisation located a few kilometres from Porcupine Well. Mega Uranium has a 23.7 million pounds U308 resource at Lake Maitland.

Aura’s groundwork located a radiometric anomaly close to the western boundary of the tenement. Six shallow auger holes examined the anomaly to a maximum depth of three metres. Initial results from Porcupine Well indicated:

• Anomalous uranium values occur throughout the area tested
• All samples below 1.5 metres contain values above 67ppm U₃O₈
• All holes end in mineralisation
• Southernmost hole returned the highest value with 233ppm U₃O₈, at 1-2 metres depth in PA05