Metallurgical Results for Haggan Vanadium Project

The 2019 Häggån resource estimate was based on several drilling campaigns:

§   2008:  3453m in 17 diamond drillholes

§   2010:  5091m in 25                "

§   2011:  2279m in 10                "

§   2012:  2226m in 14                "

§   2015:  149m   in 1                  "

§   2017:  374m   in 2                  "

§   2018/19:  2930m in 22           "

All drill samples were obtained by diamond drilling. Drillcore samples were provided to ALS Global at Piteå in Sweden (ALS) for preparation. Samples were analysed by ICP by ALS.

The Alum Shale, host to the mineralisation, has a relatively consistent content of the target metals.

Half-core was cut by diamond saw using a sample interval of 2m unless the interval included a lithological contact in which case each lithology was sampled separately. Samples were dried at 105°C, then prepared by ALS method Prep 22 (Crush to 70% less than 6mm, pulverize entire sample to better than 85% passing 75 microns). A 100g sample of pulp was taken by mini-riffle splitter for analysis.

Diamond drill core; standard tube; all BQTQ (core diameter 47mm) or an equivalent size depending on the contractor used.

All 2018/19 holes & approximately 20% of previous holes were surveyed downhole, generally at 3m intervals. The majority of holes surveyed have limited deviation, with a maximum deviation at the bottom of a hole of c. 11 m.

All holes but 1 drilled in 2010 were collared vertically. The 1 inclined hole was drilled at an angle of -65° to 090° and drillcore was oriented.

Any core loss was marked by the drillers and measured and recorded by the geologist during core logging.

The Alum Shale, host to the mineralisation, consistently has recoveries of +95%.

Assays in the few intervals which include higher core loss appear typical of assays in areas of high recovery nearby. There is no evidence of any grade bias that might arise from the small number of intervals with poor or no core recovery.

Core was aligned and checked for continuity and marked out in one-meter intervals. It was checked for drill bit marking as bit matrices are known to contain molybdenum. Comments were recorded in the database regarding the presence of bit marks.

Core was geologically logged, recording  lithology, oxidation, mineralogy (where possible), texture, fracture density & structure and radiation levels recorded by handheld scintillometer.  Down hole depth intervals were recorded with an accuracy of 20 cm.

All core was photographed.

All core was geologically logged.

Core was sawn in half using a core saw.

All drill holes were diamond drill holes.

·      Half core was taken using a sample interval of 2 m. Sample was dried at 105°C, then crushed to 70% -2 mm using ALS method Prep 22 (crush to 70% less than 6mm, pulverize entire sample to better than 85% passing 75 microns). 100g sample of pulp to split off using mini-riffle splitter for analysis.

·      Precision of sampling and analysing pulps is based on QC sample results,  considered to be within +/- 5% and acceptable for use in resource estimation at any confidence level.

·      The grain size of the Alum Shale is extremely fine, less than 10 microns, and commonly around 1 micron. The uranium mineralisation is finely disseminated throughout the shale, again at a micron scale or less. Consequently, the mineralisation and its host rock are very well represented in the 2m samples of core collected (average sample 3.3 kg). Sample size is therefore appropriate.

Multi-element assaying was done by ALS Method ME-ICP61 on a 0.25g sample (4 acid digestion with ICP-AES finish). The ICP method after 4 acid digestion is reported to give near total assay for all resource elements.

For quality control every 25 samples submitted for assay included 1 duplicate, 1 blank, and 1 CRM (certified reference material).  The 3 CRMs used in the latest round of drilling were produced from Häggån Alum Shale to ensure matrix matching and certified by OREAS.  QAQC data were inspected by Aura before data were accepted and entered into the Aura database. Review of these QAQC results indicates acceptable levels of accuracy and precision have been established.

No twin holes were drilled.

The following information primary data is recorded: Collar, alteration, assays, drilling type, Geology, Geotech, Magnetic susceptibility, mineralisation, radiometrics, samples, scintillometer, spectrometer, structure, veining, surface samples, batch details.

All logging was done by the geologist digitally in an Excel spreadsheet. Photos of the core are taken after the hole was logged. Data is kept on site on an external hard drive as well as being sent by email to Aura Energy in Australia where it was uploaded into the independently managed EarthSQL data base.

No data enters the database without verification by the Database Manager.

Database is managed by external contractor EarthSQL.

No adjustment has been made to assay data as received from the laboratory.

Initial location was taken during drilling with handheld GPS at an accuracy of +/- 3metres.  All holes on which the Indicated Resource are based were subsequently surveyed by DGPS with an accuracy of better than 20cm.

All drill collars prior to 2015 were recorded in Swedish grid system RT 90 2.5.  Subsequent holes were recorded in grid system SWEREF 99 TM following a change by the Swedish Government.  All collars were converted to SWEREF 99 TM for the 2018 and 2019 resource estimation.

Holes were vertical in all cases except Hole 39. Aura conducted down hole surveys for deviation using a Reflex Ex Trac survey device.  All drillholes since 2015 have been downhole surveyed. Approximately 20% of drillholes prior to 2015 were downhole surveyed.  The maximum deviation occurred in Hole 22 which had a dip of 75º at 250 m. This represents an average deviation of 0.3 degrees per meter and a maximum location error at the bottom of the hole of 11 m for holes assumed to be vertical. Other surveyed holes had visibly less deviation.

Drillholes on which the Inferred Resource is based were drilled on an approximately 100m x 100m pattern, and holes on which the Inferred Resource is based are located on an approximate 400 m by 400 m grid;  precise locations depended partially on access.

Topography: Collar RLs were determined by GPS to an accuracy of approx..3m.  Hole collars used in the Indicated Resource were re-surveyed by DGPS to an accuracy of better than 20cm.

Exploration Results are not reported here as Mineral Resource Estimates exist.

H&S Consultants (H&SC) consider the drillhole spacing to be sufficient for their Resource Classification as Indicated and Inferred.

The vast majority of sample intervals are 2 m in length. For the purposes of Resource Estimation, samples were composited to 2 m intervals. The boundaries of the mineralisation wireframes were honoured.

As the mineralisation occurs in sub-horizontal sheets, vertical drilling is an appropriate drilling orientation.

Drillcore was collected by Aura personnel from the drill sites and immediately taken and housed in Aura's local locked core shed.  After logging the core was transported to ALS Laboratories facility by either Aura or ALS personnel for core sawing, sample preparation and assaying.

All Resources of the Häggån Project are located on Exploration Permit Häggån No. 1. This permit is held in the name of the Aura Energy Ltd 100%-owned Swedish subsidiary company, Vanadis Battery Metals AB, which holds a 100% interest in this permit and adjoining permits.

Only standard Swedish Government royalties apply to these permits.

No native title interests are known to exist in the permits.

A small, 2-hectare Natura 2000 area occurs against the eastern boundary of Häggån No.1 permit; this area is not in the vicinity of the currently-planned mining area should a project be initiated at Häggån.

The Häggån Nr 1 Exploration Permit on which the entire resource is situated is valid until 28/8/2022.

Aura is not aware of any prior exploration by others.

Mineralisation at Häggån is hosted by bedded black shales of the Cambrian to Ordovician Alum Shale in tectonically or otherwise stratigraphically thickened metal-enriched north-north-west-striking elongated geological domains. The mineralised sequence outcrops in an area in the east of the tenement but elsewhere underlies a variably thin cover of limestone. Minor inter-beds of carbonate-enriched shale or siltstone occasionally occur within the mineralised sequence. The mineralised unit overlies a mixed sequence of siltstone and massive mineralized back shale above a granitoid gneissic basement. 

It is interpreted that there are a series of overthrusts which have displaced and caused thickening of Alum Shale within the resource area, and the sub-horizontal thrust sheets have influenced the grade distribution within the Häggån deposit.

Drillhole collar locations are shown in figures in the 10 October 2019 ASX announcement made by Aura "Häggån Battery Metal Project Resource Upgrade Estimate Successfully Completed"  which this table accompanied.   Further specific drillhole data is not relevant to the reporting of this resource estimation. 

No Exploration Results are reported here as they are superseded by Mineral Resource Estimates.

As the mineralisation occurs in sub-horizontal sheets, downhole lengths are believed to be a close approximation to true widths.

Appropriate maps and sections and tabulations of intersects can be found on the Aura Energy website (www.auraenergy.com.au) or in releases to the Australian Stock Exchange (ASX), available on the ASX website. 

No Exploration Results are reported here as they are superseded by Mineral Resource Estimates.

This information has been reported to the ASX over the 11 years since the discovery drillhole in 2008.