Aura Energy Limited (ASX: AEE) has announced the identification of a new uranium exploration target at its Tiris Project. The company has released a document providing details of the exploration target, which can be viewed on their website. The announcement states that the exploration target is estimated to contain between 25 and 50 million tonnes of mineralization, with a grade range of 200 to 400 parts per million (ppm) uranium.
According to the announcement, the exploration target is based on historical exploration data and recent drilling results. Aura Energy Limited plans to further evaluate the target through additional drilling and exploration activities. The company believes that the Tiris Project has the potential to become a significant uranium resource.
In the announcement, Aura Energy Limited highlights the strategic importance of the Tiris Project, stating that it is located in a region with a high demand for uranium. The company also mentions that the project is in close proximity to existing infrastructure, which could facilitate future development and production.
The identification of the new uranium exploration target at the Tiris Project is seen as a positive development for Aura Energy Limited. The company is focused on advancing its uranium projects and this announcement demonstrates progress in that regard.