ASX-listed Aura Energy has produced its first samples of yellowcake product as part of its Tiris uranium project definite feasibility study.
Mauritania - Importantly, the yellowcake produced is regarded as ‘saleable’ with impurity levels in the product within the acceptable levels relative to the ASTM standards.
The UO4 yellowcake was produced during the Aura test work phase being conducted in the Australian Nuclear Science & Technology Organisation (ANSTO Minerals) laboratories.
The precipitation test work will continue with further optimisation of the product planned in the next stage of work at ANSTO Minerals.
Peter Reeve, Aura Energy's executive chairman says:
“The production of yellowcake is a true milestone for Aura Energy’s push to achieve producer status. To achieve yellowcake production from our site in the Sahara Desert has required commitment and stamina from our dedicated technical team.”
“This yellowcake production is a key part of the Tiris DFS and will assist in marketing studies and progression of our financing discussions”.
About the Tiris project
The Tiris project has 49 Mlb U3O8 in current resources from 66 Mt @ 334 ppm U3O8.
The conceptual 1 Mtpa mine and plant project described in the scoping study was designed to take full advantage of these unusual characteristics, whilst providing a low capital cost and rapid project development and construction.
Significantly, a water study has indicated that potential sources of water in the immediate vicinity will satisfy the demands of the project.
The study, which indicates 11 million pounds of uranium will be produced over an initial mine life of 15 years, only utilises 20% of the known global mineral resource resulted in the following outputs:
- Low capital cost – US$45 million
- Low operating cost – A$30/lb
- Easily scalable
- Mining at ~120 tph (1 Mtpa)
- Small 25 tph leach facility
- Mined grade >420ppm U3O8 for 15 years
- Produce 0.7-1.1 Mlbs U3O8 per year
- Expand project from cash flow
- Targeting a 100Mlb uranium resource in the region.