Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Aura Energy drilling extends thick uranium into west of Häggån prospect in Sweden

Aura Energy (ASX: AEE) has intersected more thick uranium from drilling at the Häggån Project in central Sweden, extending the area of known mineralisation into the west of its Häggån permit.

The results are expected to boost the existing JORC Resource of 291 million pounds (Mlbs) at 162 parts per million (ppm) uranium (U3O8) in the following weeks, and will also provide key inputs for mining options in the Scoping Study.

Today's results represent another significant step in the development of the Häggån Project as a world-class uranium project. Häggån is one of the 10 largest undeveloped uranium resources in the world.

The final assays build on the previously announced results of the 11 hole drilling program undertaken earlier this year. There is up to 186 metres of mineralisation downhole and all holes in the program had mineralisation in excess of 100 metres.

Dr Bob Beeson, managing director of Aura Energy, said “every hole in the 2011 program intersected greater than 100 metres of cumulative mineralisation, emphasising the extent of this thick, flat-lying sheet.

"The program has confirmed the enormous size potential of this multi-metal, close to surface deposit."

The uranium at Häggån occurs with molybdenum, nickel, vanadium and zinc in black shales. The shales form a near-continuous sheet throughout the part of the project that Aura has drilled, with thicknesses ranging between 20 and in excess of 250 metres.

Aura's 2011 program includes the current drilling schedule metallurgical test work, mineralogical studies and continuing discussions with potential partners.

The Häggån Project located in Sweden’s Alum Shale Province, one of the world's largest depositories of uranium.