Aura Energy announced that Mega Uranium Ltd that the company is withdrawing from the Gunbarrel Basin Joint Venture, Western Australia. Aura will consider the alternatives of funding the next phase of drilling on the highly prospective Ponton and Junction palaeochannels internally or by bringing in a new partner.
Aura Energy Ltd. has commenced further drill testing in the Junction palaeochannel in Western Australia to follow up the uranium discovery made in July. Discovery hole JUAC020 intersected anomalous uranium in the initial drill programme in July, 2009. An interval of 2m @ 147 ppm eU3O8 from 99-101m within a broader 14m thick radiometric anomaly was intersected. This hole was drilled on the southern margin of the channel, and the new programme will test the remainder of the channel at this location, and upstream and downstream of the discovery.
Mega Uranium announced that the company has approved and will fund a proposed 76 hole aircore drill program of approximately 6000 metres in the Gunbarrel Basin Joint Venture with Aura Energy.
Research - Professional or Research - Advanced Subscriber Access Required
