Aura Energy Limited NPV (DI) (AURA)

Sector:

Mining

Index:

FTSE AIM All-Share

8.75p
   
  • Change Today:
    -0.55p
  • 52 Week High: 17.00
  • 52 Week Low: 8.73
  • Currency: UK Pounds
  • Shares Issued: 720.82m
  • Volume: 40,163
  • Market Cap: £63.07m
  • RiskGrade: 524

Aura upbeat on preliminary gravity survey results

By Josh White

Date: Thursday 26 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Aura Energy announced preliminary results of the first of the planned gravity field surveys on its Tasiast South tenements on Thursday.
The AIM-traded firm also said water drilling was underway at Tiris, adding that it was confident that the programme would continue the previous results from water drilling undertaken in 2019.

It said that, to undertake the gravity survey, two geophysical crews from gravity specialist GeoFocus were mobilised from South Africa to carry out detailed gravity surveying on all three of Aura's tenements at Tasiast South.

In total, 6,643 stations were surveyed, with the programme specifications designed and activities overseen by Newexco - geophysical consultants based in Perth with "extensive" experience in Archean geophysics.

The gravity data would allow better definition of geology, the identification of structures likely to be of relevance to gold deposition, and the possibility of direct detection of sulphide mineralisation on the nickel-cobalt targets.

Aura said the northernmost tenement, Nomads JV, where it is earning a 70% interest, had no meaningful exploration despite it covering 50 square kilometres of Archean greenstone belt located 35 kilometres directly along strike from Kinross' giant 20 million ounce Tasiast Gold Mine, which was currently being mined at a rate of 400,000 ounces of gold per year.

The area was one of "almost no outcrop", with the gravity survey expected to define the greenstone belt, lithologies and structures permitting the planning of follow-up bedrock sampling and deeper drilling.

Newexco reported that the survey data met specifications and was fit for purpose, with processing and analysis currently underway.

The data from the completed survey would be used to complete an enhanced interpretation of geology, structure and their relation to mineralisation using all existing data including airborne magnetics and drillhole data.

Aira said the field data indicated four localised gravity anomalies, all on ultramafics on the Bella permit, which was of potential interest from the viewpoint of nickel sulphide mineralisation, although that would only be determined by drilling.

Infill gravity surveying was carried out on those targets.

The company maintained that the tenements, with the single large Tasiast gold mine along strike, and strong base and battery metal results from limited previous exploration, represented "some of the best" under-explored greenstone belt targets in the world.

"It is a very important step to complete the first planned field survey on Tasiast South, as it helps build the maps towards targeting and discovery," said managing director Peter Reeve.

"The gravity survey provides valuable data which will guide future exploration, as we continue to advance this highly underexplored project, which represents some of the best greenstone belt targets in the world."

At 1400 BST, shares in Aura Energy were down 0.95% at 5.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AURA Market Data

Currency UK Pounds
Share Price 8.75p
Change Today -0.55p
% Change -5.91 %
52 Week High 17.00
52 Week Low 8.73
Volume 40,163
Shares Issued 720.82m
Market Cap £63.07m
RiskGrade 524

AURA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.11% below the market average36.11% below the market average36.11% below the market average36.11% below the market average36.11% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Price Trend
71.43% below the market average71.43% below the market average71.43% below the market average71.43% below the market average71.43% below the market average
15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

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Neutral 0
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Total 1
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AURA Dividends

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Trades for 28-Mar-2024

Time Volume / Share Price
11:43 111 @ 8.98p
10:10 12,661 @ 8.73p
10:00 277 @ 9.00p
08:52 2,114 @ 9.02p
08:22 25,000 @ 9.00p

AURA Key Personnel

Chair Phil Mitchell
CEO . Somlyay

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