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United States

Aurora Project

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Categories

Summary

Mine TypeOpen Pit
Study CompletedPreliminary Economic Assessment
Study in ProgressPrefeasibility
Commodities
  • Uranium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotAurora Uranium Project is a uranium development project, comprising a shallow open-pit mining operation.

The 2024 Scoping Study evaluates two processing scenarios:

• Contract Resin Treatment scenario – uranium-bearing resin is loaded on site and then transported to a third-party toll facility for elution, precipitation and product drying (Base Case).

• Aurora Treatment scenario – resin is treated on site, requiring additional plant infrastructure and higher initial capital expenditure, but achieving lower long-term operating costs.

The Mineral Resource Estimate for the Aurora Uranium Project is presented in the S-K 1300 Technical Report Summary dated August 8, 2025.
Latest NewsEagle Nuclear Energy Announces Plans to Conduct a 27,000 Ft Drill Program To Advance Aurora Toward a Pre-Feasibility Study     April 1, 2026

Owners

SourceSource
CompanyInterestOwnership
Eagle Nuclear Energy Corp. 100 % Indirect
On 25 February 2026, Aurora Energy Metals Limited advises it has completed the sale transaction of Oregon Energy LLC, holder of the Aurora Uranium Project to Eagle Energy Metals Corp.

Contractors

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Deposit type

  • Volcanic hosted

Summary:

Local Geology
The Aurora Project area is covered by a thin layer of alluvium over lakebed sediments. These sediments are mostly tuffaceous and interbedded with Aurora dacitic flows. In some areas, the contact between the lake sediments and Aurora flows is abrupt, while in others it gradually increases in volume and thickness of dacitic flows and tuffs. The flows generally become more massive or compact near the contact with the underlying rhyolitic welded tuffs and flow domes. Cross-sections in the Aurora area illustrate the generalized geologic relationships between the different units and the variability in thickness of the units. The Aurora lavas were deposited upon an irregular surface of rhyolitic rocks, which appear in part to be intrusive based on porphyritic textures, and may represent local volcanic domes (Roper, 1979).

The Quaternary alluvium is composed of a variety of alluvial, colluvial and in-situ debris consisting of volcanic boulders, cobbles and gravel derived from adjacent highlands and finer material derived from the lake sediments. The thickness of the gravels varies from 0 to more than 50 feet (15 meters), and averages about 20 feet (6 meters).

The lake sediments are Miocene in age and are composed of poorly-consolidated, subaerial tuffaceous material, interstratified with fine-grained non-descript bedded layers and discontinuous lenses and nodules of chalcedony. Tuffaceous material within the lakebeds includes devitrified glass fragments and fine to coarse-grained crystal and lithic fragments. Lake sediments vary from finely laminated clay-shales, siltstones and tuffaceous sandstones, to more massively bedded rhyolitic air-fall ash tuffs (Roper, 1979). The lake sediments are up to 600 feet (183 meters) thick in the drillholes, being thickest on the north edge of the mineralized zone in a graben-like growth basin. The sediments probably originated from local volcanic vents and were deposited in moat-like basins within the caldera margins.

The Aurora lava flows and tuffaceous units consist of a complex interbedded sequence of dark colored dacitic flows with vesicular to scoriaceous flow tops with some interbeds of ash. The cores of the flows are dense and black with rare plagioclase phenocrysts. The dacitic lavas contain high total iron, high calcium, sodium, and potassium and 60- 62% silica (Roper, 1979). Individual flows range in thickness from 5 to 50 feet (1.5 to 15 meters). The lava sequence contains a variety of breccia layers, which include flow breccia, laharic (mudflow) breccia, pyroclastic breccia and local fault breccia (Roper, 1979). Cumulative thickness of the Aurora lava sequence is variable, but generally is 100 to 300 feet (30.5 to 91.5 meters).

Rhyolitic rocks are, at least in part, intrusive and may represent several generations of extrusive and intrusive flow dome and vent breccia events. Whole-rock chemical analyses are very similar to the dacitic rocks of the Aurora lava flows (Roper, 1979). The flow banded rhyolite may be a portion of a flow dome complex in the area. Extrusive rhyolitic welded tuffs are exposed on the margin of the project area north and east of the Bretz pits, along the mountain front marking the caldera rim. These rocks were deposited as thick ash flow layers, erupted during successive collapse periods as part of the evolution of the caldera complex (Roper, 1979).

Mineralization
The mineralization at Aurora uranium forms stratabound and cross-cutting bodies in the lake sediments and dacitic flow units, forming an irregular mineralized zone approximately 5,000 feet (1,524 meters) long by 1,000 feet (305 meters) wide. The mineralized horizons range from a true thickness of a few feet to more than 100 feet (30.5 meters) thick. The mineralized beds are nearly horizontal to moderately dipping, up to 40°. The beds are spatially related to, and partially controlled by, possible growth faults or graben bounding structures, primarily on the northeast margin of the mineralization. The diamond drill core logs show that the uranium mineralization includes some primary deposition associated with volcanic and hydrothermal activities. The spatial distribution of uranium within sediments and broken, permeable zones of volcanic rocks suggests mechanically and chemically transported zones of mineralization are common. Several of the secondary or tertiary basins, within the lake sediments and graben block, show thin repeating beds of mineralization, within zones of the more permeable rocks, which are isolated by clay-rich zones. Thicker and higher-grade mineralization may indicate high angle structures that served as hydrothermal feeders or enrichment zones. Drillhole AUR_DDH-495 is the only angle core hole and confirms the approximately horizontal nature of the mineralization.

Geologic analysis shows moderate and low-grade mineralization (<0.05% or 500 ppm eU3O8) has lateral continuity, while high-grade mineralization (>0.08% or 800 ppm eU3O8) is sporadic. Local feeder zones may explain this uneven high-grade distribution. High-grade areas have not been tested with angled drilling. Exploring these zones could boost the overall average grade of mineralization.

The mineralized zone trends northwest, aligning with a dome of rhyolitic tuff and porphyry. The drill logs provide limited descriptions of the volcanic rocks and alteration assemblages.

Mineralization is associated with the porous and permeable volcanic rocks and includes pyrite-bearing clays with uranium minerals, leucoxene, marcasite, and arsenopyrite. Uranium minerals which have been identified in various studies include uraninite (uranium oxide), coffinite (hydrous uranium silicate), phosphranylite (hydrous calcium uranium phosphate), umohoite (hydrous molybdenum uranium oxide) and autenite (hydrous calcium uranium phosphate) (Dudas, 1979b), (Dudas, 1979a) and (Roper & Wallace, 1981)).

Pyrite is abundant and occurs in two forms. A coarser, crystalline variety is disseminated throughout the Bretz area and appears to be the earliest formed. Euhedral marcasite and arsenopyrite are also associated with the coarser pyrite. Fine grained, framboidal pyrite occurs in the Aurora area and is associated with uranium mineralization (Dudas, 1979b), (Dudas, 1979a). Framboidal pyrite is formed in areas rich in bacteria and organic material, these reducing conditions are favorable for the precipitation of uranium from oxidized solution. The precise identification of a source rock for mineralization remains unclear. The distribution of uranium within the more porous units indicates the remobilization of primary mineralization by oxidizing fluids. followed by lateral transport and re-deposition in flow and tuff units under reducing conditions. The assemblage of uranium and alteration minerals observed, along with textural evidence, implies the potential for colloidal mineral deposition through a relatively low-temperature aqueous mechanism (Dudas, 1979b), (Dudas, 1979a).

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Water usage

Parameter2024
Fresh water 139 m3/h

Commodity Production

CommodityProductUnitsAvg. AnnualLOM
Uranium U3O8 k lbs 1,155 11,943

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) U3O8 USD  ....  Subscribe
C1 cash costs U3O8 USD  ....  Subscribe
Assumed price U3O8 USD  ....  Subscribe
* According to 2024 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) USD  ....  Subscribe
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2024 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 279.1
Freight costs $M USD 3.7
Refining and treatment costs $M USD  ......  Subscribe
G&A costs $M USD 70.1
Total OpEx $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2026

Workforce

Aerial view:

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