1AE announces completion of Aurora Uranium Project Scoping Study, USA
Project Name: Aurora Uranium Project
Project Location: USA
Project Stage: Advanced Exploration
ProjectBank Summary:
Aurora Energy Metals Limited (ASX: 1AE) is pleased to announce the completion of the Scoping Study for its Aurora Uranium Project. The study demonstrates a viable pathway to development and confirms the project's potential as the USA's largest measured uranium deposit.
Aurora Energy Metals Highlights:
Potential 11-year life of mine (LoM), producing 1.15Mlbs per annum of U3O8.
Pre-tax NPV8 ranging from US$232m to US$632m and IRR between 25% and 49%, depending on uranium price scenarios.
Pre-production capital of US$161m and operating costs of US$46.10/lb U3O8.
Production target of 12Mlbs U3O8 from Measured and Indicated Mineral Resources.
Approximately 97% of throughput over the first 10 years from Measured Mineral Resources.
2 Mtpa Run of Mine (RoM) production rate with a low strip ratio of 2.1:1.
Beneficiation by scrubbing increases leach feed grade to over 470ppm U3O8.
Initial leach tests show an overall recovery of 69%, with opportunities to improve recoveries.
Three transport options considered for mined material transfer to Nevada processing site: trucking, slurry pipeline, and rope conveyor.
No regulatory or permitting issues identified that would preclude project approval.
MD/CEO Statement:
Peter Lester, Chairman, commented: "Completion of the Scoping Study is an important milestone for Aurora, technically de-risking the AUP and clearly showing a feasible pathway to developing the USA’s largest measured uranium deposit. The Scoping Study work has identified a relatively simple processing flowsheet based on beneficiation and atmospheric leaching, with scope to further improve recoveries. Based on the Scoping Study, we plan to process ores on the Company’s private land in Nevada to simplify permitting, utilise existing infrastructure, and reduce capital requirements. The indicative project development timetable aligns with the anticipated U3O8 supply deficit over the next decade."
