Aura Energy Limited announced that it has returned promising results from an initial drilling program on its Kallsedet Uranium Project in Sweden.

Aura has substantial landholding covering the uraniferous Alum Shale near Kallsedet, close to the Norwegian border in Sweden. This project area is a key prospect in Aura’s strategy to develop a pipeline of uranium projects in Sweden.

The four hole diamond drilling program for a total of 419 meters revealed thick, mineralized intersections varying from 12 meters to 98 meters in cumulative thickness. The results confirmed the widespread occurrence of uraniferous shale in the Project Area and the potential for Aura to establish another significant deposit in Sweden.

Three holes were drilled on Aura’s Olden permit and one hole on the Hamborg permit both permits are 100% owned by Aura. Results include one drill hole that intersected 60 meters at 144 ppm U3O8 including 6 meters at 224ppm U3O8, confirming the potential for thick, higher grade zones of mineralization within the licence areas.

Aura Energy is a uranium explorer with advanced projects in Sweden, West Africa and Australia. The company is focusing on two main projects the Häggan Project located in Sweden’s Alum Shale Province, one of the largest depositories of uranium in the world and the highly prospective Reguibat Province in Mauritania. The company aims to create shareholder value by rapidly establishing resources and then completing feasibility studies on these two projects. Aura Energy is headquartered in Melbourne, Australia.

Dr Bob Beeson MD of Aura Energy said that the early results met the high expectations Aura had for the project area. We are pleased that the drilling results confirmed our belief that the project area holds large developments of thick uranium mineralization. The thicknesses of mineralization found in our drilling were greater than the surface mapping indicated.

He said that Aura holds 90 square kilometers of permits with the Kallsedet Project and the company considers that significant proportions of this area are underlain by mineralized Alum Shale. The next step is to undertake further drilling to explore the potential of the outcropping alum shale in Aura Energy’s permit zones. Aura has resources of 291 million pounds of U3O8 in its Häggan Project some 120 kilometers southeast of Kallsedet. It has just completed a drilling program at Häggan to further expand these resources. The technological advances that Aura is making for developing options for the economic processing of the Alum Shale at Häggan can be applied to the Kallsedet Project.