LONDON (Alliance News) - Aura Energy Ltd on Thursday noted recent "excellent" drilling results achieved by mineral exploration company Algold Resources Ltd at tenements adjoining Aura's gold prospects in Mauritania.
Aura earlier this year secured rights to acquire two exploration permits on Archean greenstone belts in Mauritania, with the two covering portions of the Tasiast and Tijirit greenstone belts adjoining the Algold tenement.
Aura said the results were "exceptionally strong" and compelling for Aura's gold exploration program given the similarity in the geological setting of each company's tenements and "the very limited exploration of these extensive greenstone belt packages".
"With the large Tasiast gold mine on the same belt just north of our project, and a maiden gold resource and very positive drilling results emerging on the Algold ground, the potential for multi-million ounce discoveries, in the eyes of our technical people, is high," said Executive Chairman Peter Reeve.
Shares in Aura were down 3.3% at 0.0290 pence on Thursday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Aura Egy (AURA)