REG - Aura Energy Limited - Pilot Tests at Tiris Uranium Project
23/06/2022 07:16
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RNS Number : 9300P Aura Energy Limited 23 June 2022
23 June 2022
PILOT TESTS CONFIRM AVERAGE 550% UPGRADING
OF URANIUM WITH SIMPLE SCREENING AT TIRIS
KEY POINTS:
· Pilot scale testing confirms Tiris uranium ore grade can be increased
on average 550% using simple screening, with 80% reduction of material mass
reporting to leaching circuit and containing 90% of uranium at 1,572ppm
U(3)O(8.)
· Ongoing bulk leach testing by the Australian Nuclear Science and
Technology Organisation ("ANSTO Minerals") on upgraded material from pilot
testing confirms rapid leaching allowing reduction in leach capital equipment
costs.
· Pilot and bulk leach results to be incorporated into upcoming Front
End Engineering Design ("FEED") study with anticipated capital savings and
reduction in reagent requirements from previous estimates.
· Yellowcake product samples to be produced in Q3 of 2022 to support
uranium marketing discussions with nuclear utilities.
· Targeting Final Investment Decision in Q1 of 2023, as Aura is focused
on fast-tracking initial uranium production at Tiris, with aspirations to
expand production to 3-5m lbs U(3)O(8) per year.
For the full PDF version of the announcement with Figures 1-5 included, please
refer
to: http://www.rns-pdf.londonstockexchange.com/rns/9300P_1-2022-6-23.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9300P_1-2022-6-23.pdf)
Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or "the Company") is pleased
to provide an update on the Company's primary focus of fast-tracking initial
uranium production at its 85%-owned Tiris Uranium Project in Mauritania
("Tiris" or "the Project"), with the achievement of pilot scale confirmatory
results from simple screening techniques at the mine, to achieve on average
550% increase in uranium grade, and preliminary bulk leaching tests confirming
rapid uranium extraction of over 95%.
The substantially positive upgradability of the Tiris uranium mineralisation
is a key differentiator between Tiris and other uranium projects with
comparable feed grades (see Table 1), resulting in a smaller, more efficient
leach circuit with generally lower capital and operating costs.
Pilot scale tests were conducted at Mintek in Johannesburg, and bulk
metallurgical test work is ongoing at ANSTO Minerals, located in Lucas
Heights, New South Wales, Australia.
Beneficiation Pilot Plant
Aura undertook a pilot plant trial for the Tiris beneficiation (simple wet
screening) circuit in 2019 at Mintek, Johannesburg, with final results now
confirmed. The pilot plant aimed to demonstrate at larger scale, the
substantial upgrade of U(3)O(8) concentration into a small fraction of the
mined feed, as was previously demonstrated and reported at laboratory scale.
The beneficiation pilot plant was completed on ~500kg composite samples from
three key processing domains in the Lazare North and South Resources,
representative of approximately the first 5 years of operation at Tiris.
Results indicated an increase in uranium grade from an average 285ppm U(3)O(8)
to an average 1,572ppm U(3)O(8) (an increase of 550%), and average mass
reduction of 80% of the mined material reporting to the leach circuit,
containing an average 90% of total uranium (See Table 2 below).( )
Table 1 - Reported Leach Feed Uranium grade comparisons
Company Project Country Mine Grade (ppm U(3)O(8)) Upgrading Mass Rejection Leach Feed Grade (ppm U(3)O(8)) Upgrading Factor
Aura Energy Tiris(( 1 (#_ftn1) )) Mauritania 285 80% 1,575 552%
Deep Yellow Tumas 2 (#_ftn2) Namibia 344 35% ~529 154%
Bannerman Energy Etango 3 (#_ftn3) Namibia 232 - 232 0%
Paladin Energy Langer Heinrich 4 (#_ftn4) Namibia 448 - 448 0%
Table 2 - Summary of results of beneficiation pilot program completed at
Mintek. Samples of primary processing Domains (~500kg each) scrubbed and
screened at 150µm by production scale Derrick Stack Sizer. Solids feed rate
of 3.5 tph at 17.1% w/w solids.
Lazare North and South Head Grade -150µm Concentrate
U(3)O(8) ppm U(3)O(8) ppm Upgrade Factor Mass Recovery (%) U(3)O(8) Recovery (%)
COMP1 210 1267 6.0 18% 94%
COMP2 388 1787 4.6 25% 88%
COMP3 256 1662 6.5 18% 85%
AVERAGE 285 1572 5.5 20% 90%
The pilot plant included key components of the beneficiation upgrade circuit
including a 1m diameter scrubbing vessel and full-size Derrick stack sizer
unit with a target screen aperture size of 150µm. Laboratory testing using
75µm screening indicated even higher upgrading of up to 700% and provides a
further optimisation opportunity for consideration in a commercial
beneficiation plant at Tiris.
Pilot plant conditions were varied to define optimum feed solids concentration
for screening units and solids feed rates between 2 tonnes per hour and 6
tonnes per hour.
Figure 1 - Pilot scale Derrick Stack Sizer circuit used in beneficiation pilot
program at Mintek.
The results from the beneficiation pilot program demonstrated that the upgrade
of uranium concentration, as presented in the Tiris Definitive Feasibility
Study ("DFS"), can be consistently achieved at scale, representing an
important step in confirming the design criteria applied for Tiris.
Comparatively, the Tiris DFS design assumptions were that beneficiation in
commercial operations would achieve an upgrading of uranium concentration of
550%-660% with a resultant leach feed grade of 1,500 - 1,600 ppm U(3)O(8) 5
(#_ftn5) (.)
Aura Energy Acting CEO, Will Goodall, commented: "Completion of the
beneficiation pilot plant testing has confirmed that upgrading of the U(3)O(8)
concentration by up to 650% at the mine, can be achieved at scale, with on
average 90% U(3)O(8) recovery and 80% reduction of the mass of material
reporting to the leaching circuit. This is a huge step in advancing Tiris to
production by showing that lab results can be successfully replicated and even
improved at pilot scale, using proven, simple, and low-cost screening
techniques.
The ability to increase the feed grade to the processing plant to 1,500-1,600
ppm U(3)O(8) is a key differentiator from other uranium deposits and places
Aura in a strong position to advance Tiris into production with low capital
and operating costs, and we look forward to providing shareholders with
further results from the balance of the program at ANSTO over the coming
weeks.
Overall, incoming positive results continue to drive Aura towards the
consideration of a final investment decision for Tiris in Q1 of 2023, and we
look forward to further de-risking and optimising the flowsheet over the
coming months as we focus on fast-tracking to initial uranium production at
Tiris, with aspirations to expand production to 3-5m lbs. U(3)O(8) per year
early in the mine life."
ANSTO Minerals Test Program
In January 2022, Aura initiated a program of test work with ANSTO Minerals,
Australia's national nuclear organisation and the center of Australian nuclear
expertise, to confirm process design inputs for Tiris. The ongoing program
uses Tiris sample concentrates generated from the beneficiation pilot plant
trial. The focus of the program is to confirm design criteria for use in the
planned Front End Engineering Design ("FEED") Study, as Aura advances to a
final investment decision for the Project which is targeted for Q1 of 2023.
Key test work steps include:
· Bulk leaching tests to confirm optimum reagent dosage and
consumption (Figures 2 and 3); and
· Demonstrate optimum leach residence time to achieve maximum
uranium recovery; followed by:
o Ion exchange optimisation tests and modelling to demonstrate uranium
recovery from leach liquor and concentration prior to precipitation; and
o Uranium precipitation tests to produce yellowcake product samples for
marketing.
In addition to confirmation and optimisation of the process parameters for
uranium, test work will be performed on extraction and recovery of vanadium
pentoxide as a by-product.
As previously announced, vanadium occurs with the host uranium mineral,
carnotite in the Tiris Resources 6 (#_ftn6) . During leaching of uranium,
the vanadium is also extracted, and can be recovered in the ion exchange
circuit separately to uranium and subsequently precipitated and calcined (or
fused) to produce vanadium pentoxide flake by-product. The by-product credit
is anticipated to result in a reduction in overall operating cost for uranium
production at Tiris.
The vanadium by-product test work program will include examination of two
alternative options for separation of vanadium from uranium in the ion
exchange circuit.
Bulk Leach Test Results
The test program at ANSTO is progressing well, with preliminary bulk leaching
tests completed, and ion exchange, precipitation and vanadium recovery test
work anticipated to be completed in Q3 of 2022.
The results of 50L bulk leaching for all three composite samples were
positive. The leaching rates for uranium can be observed in Figure 4, which
demonstrates rapid and very high uranium extraction for all three samples
tested.
Figure 4 - Uranium extraction by leaching time on pilot plant upgraded samples
of key processing Domains for the Tiris Uranium Project. Leaching conditions
at 40 g/L Na(2)CO(3) and 10 g/L NaHCO(3) at 90°C with Sydney tap water
adjusted to process water composition.
A positive outcome of the tests was that the fast uranium extraction rate of
the Tiris material has been confirmed. The results of these tests justify the
opportunity to reduce target leach residence time by 30%.
These changes will be implemented in the upcoming FEED study and will
represent potential savings in both capital expenditure and reagent
requirements from previous estimates.
Next Steps
The ANSTO test program is ongoing, with completion expected in Q3 of 2022.
The key steps and proposed schedule are summarised in Figure 5.
Figure 5 - Proposed schedule for delivery of final components of ANSTO
Minerals metallurgical test work programme for Tiris concentrate material.
The next steps will be to utilise leach solution generated from the bulk leach
tests to complete optimisation and modelling for the uranium ion exchange
circuit. This will then flow into precipitation optimisation test work,
which will result in final yellowcake product samples to be used in supporting
uranium marketing discussions with end users, including nuclear utilities.
In addition, the test work on vanadium pentoxide by-product recovery is
ongoing and results will be reported as available.
Cautionary Statement
This report may contain some references to forecasts, estimates, assumptions
and other forward-looking statements. Although Aura believes that its
expectations, estimates and forecast outcomes are based on reasonable
assumptions, it can give no assurance that they will be achieved.
They may be affected by a variety of variables and changes in underlying
assumptions that are subject to risk factors associated with the nature of the
business, which could cause actual results to differ materially from those
expressed herein.
This ASX Release as authorised by the Aura Energy Board of Directors.
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.
For Further Information, please contact:
Will Goodall Jane Morgan
Acting CEO JMM
Aura Energy Limited Investor & Media Relations
info@auraenergy.com.au info@janemorganmanagement.com.au (mailto:info@janemorganmanagement.com.au)
(mailto:info@auraenergy.com.au?subject=Aura%20Energy%20(ASX:AEE)%20-%20Shareholder%20/%20Investor%20Enquiry)
+61 405 555 618
SP Angel Corporate Finance LLP WH Ireland Limited
(Nominated Advisor and Joint Broker) (Joint Broker)
David Hignell Jessica Cave
Kasia Brzozowska Andrew de Andrade
+44 (0) 203 470 0470 +44 (0) 207 220 1666
About Aura Energy (ASX:AEE, AIM:AURA)
Aura Energy is an Australian-based minerals company with major uranium and
polymetallic projects with large resources in Africa and Europe. The Company
is principally focused on initial uranium production at its Tiris Uranium
Project, an evolving major greenfields uranium discovery in Mauritania, with
Aura announcing a Resource Upgrade in August 2021, bringing the total JORC
Resource to 56 Mlbs (at a 100 ppm U(3)O(8) lower cut-off grade).
Aura also completed a 2021 capital estimate update for the Tiris Definitive
Feasibility Study, to reflect current global pricing, reconfirming Tiris as
one of the lowest capex, lowest operating cost uranium projects slated for
development.
In October 2021, the Company entered a US$10m Offtake Financing Agreement with
Curzon, which includes an additional up to US$10m facility, bringing the
maximum available under the agreement to US$20m.
In 2022, Aura will continue to transition from an advanced uranium explorer to
uranium producer, to capitalise on the growing appetite for nuclear power as a
critical, baseload, near-zero-carbon energy source to help drive the global
shift towards decarbonising energy generation.
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Competent Persons
The Competent Person for the Tiris Metallurgical Test work is Dr Will Goodall.
The information in the report to which this statement is attached that relates
to the test work is based on information compiled by Dr Will Goodall. Dr
Goodall has sufficient experience that is relevant to the test work program
and to the activity which he is undertaking. This qualifies Dr Goodall as a
Competent Person as defined in the 2012 edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr
Goodall is a Member of The Australasian Institute of Mining and Metallurgy
(AusIMM). Dr Goodall consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
APPENDIX 1
JORC Code 2012
Table 1 Appendix 5A ASX Listing Rules
2022 Tiris Uranium and Vanadium Resource Estimate
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (e.g. cut channels, random chips, or
specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF · The data on which this resource estimate is based is from
instruments, etc). These examples should not be taken as limiting the broad 5 field sampling programmes:
meaning of sampling.
1. An air-core (AC) drilling programme in 2010/11 with grade
· Include reference to measures taken to ensure sample representivity estimation by chemical analysis of drill samples
and the appropriate calibration of any measurement tools or systems used.
2. An AC drilling programme at Lazare in 2012 with grade
· Aspects of the determination of mineralisation that are Material to estimation by chemical analysis of drill samples
the Public Report.
3. An AC drilling programme at Sadi in 2015 with grade
· In cases where 'industry standard' work has been done this would be estimation by chemical analysis of drill samples
relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire 4. An AC drilling programme in 2017 with grade estimation by
assay'). In other cases, more explanation may be required, such as where there downhole gamma logging
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g. submarine nodules) may warrant disclosure of 5. A diamond drilling (DD) programme with grade estimation by
detailed information. both chemical analysis of core and by downhole gamma logging, for validation
purposes.
· The 2011/12 drilling was the basis of 2 previous Resource
Estimation exercises (ASX release: announcement 14 July 2011 "First Uranium
Resource in Mauritania - 50 million pounds", & ASX release: 16 July 2014
"Reguibat Uranium Project Scoping Study Complete). The 2018 resource
estimation exercise has been aimed at upgrading a substantial portion of
Inferred Resource to a higher resource category.
· The 2011/12 drillhole spacing was predominantly 100m x
200m. A portion of the 2012 drilling was at a spacing of 50m x 100m drilled
to define Indicated Resources. The 2017 drilling was predominantly at a
spacing of 50m x 50m to define Measured Resources.
· AC drill cuttings were riffle split on site to extract
approx. 2 kg samples for assay for the downhole intervals 0 to 0.5m, 0.5 to
1.0m, 1 to 2m, & thereafter in 1m intervals to end of hole.
· Down hole gamma logging in 2017 was by 2 down-hole Auslog
gamma sondes operated by Poseidon Geophysics (Pty) Ltd based in Gaborone
Botswana using 3 geophysicists employed by Poseidon geophysics
· The 2 sondes were sent to the Department of Environment,
Water & Natural Resources, Adelaide South Australia for calibration prior
to the survey
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · AC drilling in all programmes was conducted by Wallis
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or Drilling of Perth WA using a Mantis drillrig and NQ size bit (outer diameter
standard tube, depth of diamond tails, face-sampling bit or other type, 75.7 mm). AC drilling Diamond drilling (DD) was carried out by Capital
whether core is oriented and if so, by what method, etc). Drilling Mauritanie SARL utilising triple tube PQ coring (122.6 mm outer
diameter bit, 85 mm diameter core). In 2017 1484 vertical drillholes were
gamma logged of which 1428 were AC drillholes and 56 were cored diamond
drillholes.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · In 2011/12/15 AC drilling the total drill return for each
results assessed. sample interval was bagged and weighed to an accuracy of approximately 0.25 kg
to estimate sample recovery.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Efforts were made to minimise dust loss, eg in most holes
the first metre was drilled without applying compressed air, and thereafter
· Whether a relationship exists between sample recovery and grade and minimum air necessary to lift the sample was applied.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · No relationship between estimated recovery and uranium
grade was observed.
· In view of the ultrafine grain size of the uranium
mineral carnotite, even where high recoveries were recorded, it is possible
that some carnotite was lost in dust emitted from the drillrig cyclone
resulting in underestimation of uranium grade.
· 2017 AC drillholes were not physically sampled.
· All drillcore was transported in covered core trays to
Nouakchott for geological logging, density determination, and core cutting.
· Drillcore lengths were measured to an accuracy of c. 1 cm
immediately on removal from the core barrel to determine & record core
recovery.
· Given the ultra-fine grained nature of the carnotite
mineralisation, loss of uranium is likely in any core runs recording less than
100% recovery, and even where 100% recovery is recorded it is possible some
loss of carnotite may have occurred.
Logging · Whether core and chip samples have been geologically and · In 2011/12/15 AC drilling each sample interval was
geotechnically logged to a level of detail to support appropriate Mineral geologically logged by an onsite geologist and drill logs were uploaded to
Resource estimation, mining studies and metallurgical studies. Aura's database managed by Reflex Hub in Perth. A sample of sieved &
washed chips for each sample interval was retained in chip trays for
· Whether logging is qualitative or quantitative in nature. Core (or reference.
costean, channel, etc) photography.
· In 2017 AC drilling only the bottom hole sample was
· The total length and percentage of the relevant intersections logged. geologically logged, and a sample retained in chip trays.
· Drillcore was photographed, geologically logged and logs
were recorded on Aura's logging template and uploaded to Aura's database
managed by Reflex Hub in Perth. 385 density measurements (which included 25
duplicate determinations) were taken on drillcore by ALS Laboratories in
Nouakchott under the supervision of Aura's geologist.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · 2011/12/15 AC drill samples were riffle split on site to
taken. provide a minimum 2 kg sample for assay and a duplicate split for reference
and possible umpire analysis.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry. · Duplicates, blanks, and standards were inserted in the
assay sample stream at regular intervals as detailed in the next section.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. · Drillcore was cut in half longitudinally by diamond saw
by ALS Laboratories after marking up by, and under the supervision of, an Aura
· Quality control procedures adopted for all sub-sampling stages to geologist.
maximise representivity of samples.
· For each half-metre of core half-core was bagged for
· Measures taken to ensure that the sampling is representative of the assay
in-situ material collected, including for instance results for field
duplicate/second-half sampling. · Given the fine-grained nature of the uranium minerals
these sample sizes are appropriate
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · 2011/12 AC drill samples were submitted to Stewart
laboratory procedures used and whether the technique is considered partial or Laboratories sample preparation facility near Zouerate in Mauritania (In 2012
total. Stewart Laboratories became part of ALS Laboratories). Samples were crushed
by jaw crusher to -12mm and 1kg was riffle split for pulverising to +85%
· For geophysical tools, spectrometers, handheld XRF instruments, etc, passing 75 microns. An c. 100g split was bagged and sent to Stewart
the parameters used in determining the analysis including instrument make and Laboratories in Ireland for analysis by pressed pellet XRF. Previous
model, reading times, calibrations factors applied and their derivation, etc. analysis comparing different analytical methods (XRF, ICP, DNC) had indicated
that XRF is an accurate method on this material, if an x-ray band is selected
· Nature of quality control procedures adopted (eg standards, blanks, for measurement that is not affected by the presence of strontium, and this
duplicates, external laboratory checks) and whether acceptable levels of was done. This method will measure total uranium.
accuracy (i.e. lack of bias) and precision have been established.
2015 AC drill samples were were submitted to ALS Laboratories sample
preparation facility in Nouakchott Mauritania. Samples were crushed by jaw
crusher to -12mm and 1kg was riffle split for pulverising to +85% passing 75
microns. An c. 100g split was bagged and sent to ALS Global in Ireland for
analysis by ALS method MC-ICP61 after 4-acid digestion. This method will
measure near total uranium.
· Bagged ½ core was prepared by ALS Laboratories
Nouakchott by Method Prep 22 (Crush to 70% less than 6mm, pulverize entire
sample to better than 85% passing 75 microns). An c. 100g sample of pulp was
split off using mini-riffle splitter, placed in sample envelope and forwarded
by air to ALS in Ireland for uranium analysis by ALS Method U-MS62 (U by
ICP-MS after 4 acid digestion). 4 acid digestion provides near total
extraction.
· Downhole gamma logging was performed by 2 down-hole
Auslog gamma sondes comprising:
§ DLS5 Winch Controller
§ W600-1 12V Portable Winch
§ A075 Natural Gamma Tool
· Logging procedures involved:
§ Drill holes were gamma logged as soon as possible after drilling to
avoid radon build-up.
§ Each borehole logged in both directions to verify consistency
§ Logging speed: 2 metres per minute
§ Sampling interval: 1 cm
§ At least one hole was re-logged after each 20 holes as a repeatability
check.
§ A reference hole was established and relogged every 2 days as a check
on consistency
§ Gamma logging procedures & interpretation were supervised by
consultant David Wilson who qualifies as a Competent Person in these matters.
· QAQC procedures for the 2011/12 AC drilling comprised, on
average:
§ Field duplicates assays: 1 in every 12 samples
§ Blanks: 1 in every 31 samples
§ Umpire assays: 1 in every 11 samples
Umpire analysis was carried on 427 sample intervals. For each of these the
original pressed pellet XRF sample assayed by Stewart Labs was re-assayed by
ICP by Stewart Labs and also by XRF by ALS Labs and by ICP by ALS.
§ Certified Reference material: 1 in every 129 samples
§ Total QAQC samples: 1 in every 5 samples
Accuracy & precision were within acceptable limits.
Verification of sampling and assaying · The verification of significant intersections by either independent · Approximately 2,675 drillholes were used in this Resource
or alternative company personnel. Estimate. In 1484 of these U grades was determined by downhole gamma
logging, and in the remainder U grade was determined by chemical assay. This
· The use of twinned holes. provides verification of average grades. 57 diamond drillholes were both
gamma logged and chemically assayed for validation purposes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols. · To test for radioactive disequilibrium 204 samples were
sent to either Australian Nuclear Science and Technology Organisation (ANSTO)
· Discuss any adjustment to assay data. in Australia or the Activation Laboratories (Actlabs) in Canada for
equilibrium determinations. Results were compiled and interpreted by D
Wilson of 3D Exploration who concluded that a factor of 1.29 needs to be
applied to all raw gamma grades to provide the correct U grade. Diamond
drillcore assaying confirmed the appropriateness of this factor.
· All drillhole data recorded was uploaded to Aura's online
database managed by Reflex Hub. Analyses were forwarded directly from the
laboratories to Reflex Hub for incorporation in the database.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · 2011/12 drillhole collars were surveyed by handheld GPS
and down-hole surveys), trenches, mine workings and other locations used in with reported accuracy of +/- 3 metres.
Mineral Resource estimation.
· All 2017 drillhole collars were surveyed by differential
· Specification of the grid system used. surveying conducted by IRC-Magma to an accuracy of +/- 20 cm in all
dimensions.
· Quality and adequacy of topographic control.
· The grid projection used is UTM WGS84 Zone 29N
· An independent check on topography was provided by
satellite data provided by PhotoSat of Vancouver to an accuracy of +/- 20 cm
confirming the quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drillholes were spaced in different programmes at 50m x
50m, 50m x 100m, 100m x 100m or 100m x 200m.
· Whether the data spacing, and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · In most cases Measured Resources are based on 50m x 50m
Resource and Ore Reserve estimation procedure(s) and classifications applied. spaced drillholes, Indicated Resources are based on 100m x 100m spaced holes,
and Inferred Resources on !00m x 200m spaced holes.
· Whether sample compositing has been applied.
· Downhole gamma data was composited into 0.5m intervals.
· Three 100m x 100m areas were drilled at 12.5m spacing in
both N-S & E-W directions for geostatistical purposes and to examine
variability. Variography constructed by the resource consultants confirmed
that the drill spacings are appropriate for the Resource classifications.
Resource classification was done by the independent resource consultants with
no input from Aura.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Three 100m x 100m squares were drilled at 12.5m hole
possible structures and the extent to which this is known, considering the spacing in both N-S and E-W directions to investigate grade anisotropy. This
deposit type. indicated a weak NW-SE trend to the mineralisation. The drilling pattern
employed is considered appropriate for the mineralisation orientation.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · Sample collection was supervised by geologists. Samples
were transported as soon as practicable to independent sample preparation
facilities. Approx.65% of drillholes were assayed by downhole gamma
logging and for these sample security is not relevant.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · Resource estimation in 2012 was conducted by Oliver
Mapeto of Coffey Mining. This was independently reviewed and confirmed by
Wardell Armstrong International in 2016. The 2021 Resource Estimate at Sadi
was done by Oliver Mapeto acting then as an independent consultant. The 2018
resource estimate has been carried out by independent consulting group H&S
Consultants Pty Ltd. All of these consulting groups have reviewed and
endorsed the sampling, grade estimation and QAQC procedures.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The Resource Estimates are based on drilling conducted on
agreements or material issues with third parties such as joint ventures, 2 mineral exploration permits held 100% by Aura Energy: 562B4 Oum Ferkik,
partnerships, overriding royalties, native title interests, historical sites, 2365B4 Oued EL Foule Sud, on 2 Exploitation permits: 2492C4 Oued El Foule,
wilderness or national park and environmental settings. 2491C4 Ain Sder held by Tiris Ressources SA, a 100% subsidiary of Aura
Energy. Aura is in the process of divesting 15% of Tiris Ressources SA to
· The security of the tenure held at the time of reporting along with the Mauritanian Government as required by the Mining Act.
any known impediments to obtaining a licence to operate in the area.
· Aura has completed an Environmental and Social Impact
Assessment which concluded there are no known issues arising from native
title, historical sites, environmental or third-party matters which are likely
to materially affect exploitation.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Aura is unaware of any prior exploration on these areas.
Geology · Deposit type, geological setting and style of mineralisation. · The mineralisation is of the calcrete uranium style.
It occurs within Proterozoic rocks of the Reguibat Craton. The
mineralisation is developed within near surface altered and weathered granites
and within shallow colluvium lying on granite or adjacent metasediments.
Drill hole Information · A summary of all information material to the understanding of the · Specific drillhole data is not relevant to the reporting
exploration results including a tabulation of the following information for of this resource estimation
all Material drill holes:
1. easting and northing of the drill hole collar
2. elevation or RL (Reduced Level - elevation above sea level in metres)
of the drill hole collar
3. dip and azimuth of the hole
4. down hole length and interception depth
5. hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Data aggregation methods are summarised in the Resource Estimate
maximum and/or minimum grade truncations (e.g., cutting of high grades) and report by H&S Consultants which this table accompanies.
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · All drillholes on which the resource estimate is based
Exploration Results. were vertical and approximately perpendicular to the thickness of the
mineralisation.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (e.g., 'down hole length, true
width not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Refer to the ASX announcement which this table
intercepts should be included for any significant discovery being reported accompanies.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not ·
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Metallurgical test work is ongoing. Information on
reported including (but not limited to): geological observations; geophysical processing has been reported in ASX announcement: 29 July 2019 "Tiris
survey results; geochemical survey results; bulk samples - size and method of Uranium Definitive Feasibility Study Completed".
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (e.g., tests for lateral · Refer to the ASX announcement which this table
extensions or depth extensions or large-scale step-out drilling). accompanies.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Section 3. Estimation and Reporting of Mineral Resources - PART 1
Note this Section 3 has been prepared by H&S Consultants and relates to
the Hippolyte, Hippolyte South, Lazare North & Lazare South Resources
Criteria JORC Code explanation Commentary
Database integrity · Measures taken to ensure that data has not been corrupted by, for Aura's database was managed by the independent organisation Reflex Hub, based
example, transcription or keying errors, between its initial collection and in Perth.
its use for Mineral Resource estimation purposes.
H&SC conducted data validation checks such as comparing assay certificates
Data validation procedures used. to database records and a variety of checks for internal inconsistencies such
as overlapping intervals, records beyond end of hole depth, unassayed
intervals and unrealistic drill hole data.
Site visits · Comment on any site visits undertaken by the Competent Person and H&SC has not visited the Tiris East deposits due to time and budget
the outcome of those visits. constraints. H&SC based its view of the geological setting and
mineralisation on drill hole data, discussions with Aura geologists and on
If no site visits have been undertaken indicate why this is the case. information in technical reports. Representatives of Coffey Mining and Wardell
Armstrong International conducted site visits in Aril 2012 and May 2016
respectively.
Geological interpretation · Confidence in (or conversely, the uncertainty of) the geological The uranium mineralisation generally forms shallow horizontal tabular bodies
interpretation of the mineral deposit. ranging in thickness from 1 to 12 m hosted in weathered granite and granitic
sediments. Differentiation of the weathered granite from granitic sediments is
· Nature of the data used and of any assumptions made. unreliable from AC sample returns. A purely geological model of the Tiris
deposits has not been produced.
· The effect, if any, of alternative interpretations on Mineral
Resource estimation. H&SC created a surface representing the base of the estimates in order to
limit the extrapolation of grades into volumes that had no data. This is
· The use of geology in guiding and controlling Mineral Resource important at Tiris East as there is a general decrease in uranium grades with
estimation. depth. This surface nominally represents the top of the less-weathered
granite, where AC drilling could penetrate no further. The base surface was
The factors affecting continuity both of grade and geology. produced using the locations of the end of the deepest assay from each drill
hole. Where drill holes were very close, within around 15 m, the shallower
point was removed. The base surface also honoured mapped surface outcrops.
At the time that the estimates were completed, no topographic survey data were
available. The vast majority of the 2017 drill collar locations were surveyed
using a Differential Global Positioning System (DGPS). H&SC used the
locations of all drill hole collars that had been located with the DGPS to
create a wireframe representing the topographic surface. The elevations of all
drill holes that had been located using a handheld GPS were then derived from
this topographic surface.
The proportion of the block between the topographic and base surfaces were
assigned to the block model and used to weight the reported estimates.
The interpretation of the mineralisation as flat lying tabular bodies is
undisputed. The lateral extents of the mineralisation are poorly defined and
additional drilling around the edges of the deposits may indicate that
mineralisation is more limited than currently interpreted. Alternative
interpretations of the geology are very unlikely to significantly impact
estimated resources.
The continuity of both grade and geology are affected by the extent of
weathering of the granitic host. The continuity does not appear to be affected
by faulting.
Dimensions The extent and variability of the Mineral Resource expressed as length (along The Mineral Resources reported here occur in four separate areas (Hippolyte
strike or otherwise), plan width, and depth below surface to the upper and North, Hippolyte South, Lazare North and Lazare South) within a SE trending
lower limits of the Mineral Resource. rectangle around 40 km north-south and 12 km east-west. All mineralisation
forms flat lying tabular bodies ranging in thickness from 1 to 12 m.
The Mineral Resources at Hippolyte North at a cut-off of 100 ppm U3O8 occur in
an area 6 km east-west and 5.5 km north-south. This region is comprised of
several separate areas that range in plan dimensions from 500 m to 1.1 km wide
and 500 m to 2.2 km long. The upper limit of the mineralisation occurs at
surface and the reported resources reach a maximum depth of 11 m below
surface.
The Mineral Resources at Hippolyte South at a cut-off of 100 ppm U3O8 occur in
an area 5.6 km east-west and 5.4 km north-south. This region is comprised of
three isolated areas each with a north-south length of around 1.3 km and an
east-west length that ranges 400 m to 1.1 km. The upper limit of the
mineralisation occurs at surface and the reported resources reach a maximum
depth of six metres below surface
The Mineral Resources at Lazare North at a cut-off of 100 ppm U3O8 occur in an
area 4.5 km east-west and 2.4 km north-south. This region is comprised of
three isolated areas. The smallest of these areas has an east-west length of
900 m and a north-south length of 550 m. The largest area has an east-west
length of 2.2 km m and a north-south length of 1.8 km. The upper limit of
the mineralisation occurs at surface and the reported resources reach a
maximum depth of 12 m below surface.
The Mineral Resources at Lazare South at a cut-off of 100 ppm U3O8 occur in an
irregular shape with an east-west length of 5.5 km and a north-south length of
2.7 km. The largest area has an east-west length of 2.2 km m and a north-south
length of 1.8 km. The upper limit of the mineralisation occurs at surface
and the reported resources reach a maximum depth of 10 m below surface.
Estimation and · The nature and appropriateness of the estimation technique(s) The uranium concentrations were estimated by recoverable Multiple Indicator
applied and key assumptions, including treatment of extreme grade values, Kriging (MIK) using the GS3 geostatistical software. The uranium grades at the
modelling techniques domaining, interpolation parameters, maximum distance of extrapolation from Tiris East deposits exhibit a positively skewed distribution and therefore
data points. show reasonable sensitivity to a small number of high grades. MIK is
considered an appropriate estimation method for the uranium grade distribution
· The availability of check estimates, previous estimates and/or at the Tiris East deposits because it specifically accounts for the changing
mine production records and whether the Mineral Resource estimate takes spatial continuity at different grades through a set of indicator variograms
appropriate account of such data. at a range of grade thresholds. It also reduces the need to use the practice
of top cutting.
· The assumptions made regarding recovery of by-products.
All drill hole intervals were composited to 0.5 m for estimation. The
· Estimation of deleterious elements or other non-grade variables following number of half metre composites were used to estimate the deposits:
of economic significance (e.g., sulphur for acid mine drainage
characterisation). · Hippolyte North: 9,920
· In the case of block model interpolation, the block size in · Hippolyte South: 1,078
relation to the average sample spacing and the search employed.
· Lazare North: 1,585
· Any assumptions behind modelling of selective mining units.
· Lazare South: 6,743
· Any assumptions about correlation between variables.
Top-cut values were chosen by assessing the high end distribution of the grade
· Description of how the geological interpretation was used to population within each zone and selecting the value at which the distribution
control the resource estimates. became erratic. Only one composite in Lazar North was top-cut. This interval
had a U(3)O(8) grade of 7,937 ppm and was cut to 3,200 ppm.
· Discussion of basis for using or not using grade cutting or
capping. The four deposits were subdivided into a total of seventeen Subzones for
estimation. Conditional statistics were produced for each of the Subzones. All
The process of validation, the checking process used, the comparison of model class grades used for estimation of the mineralised domains were derived from
data to drill hole data, and use of reconciliation data if available. the class mean grades.
Vanadium is a potential by-product and vanadium oxide (V(2)O(5)) has been
estimated for the mineral resources using the stoichiometric V(2)O(5)/U(3)O(8)
ratio for carnotite group minerals. These V(2)O(5) values represent
potentially recoverable vanadium in carnotite and not total vanadium occurring
in mineralisation, which is significantly higher in almost all cases. These
potentially recoverable V(2)O(5) values are based on the analysis of a
substantial database of available sample data and represent average values
that may be conservative. This procedure relies on the correlation between
uranium and vanadium in carnotite group minerals, which are the only uranium
minerals identified to date at Tiris.
No deleterious elements or other non-grade variables of economic significance
have been identified or estimated.
The base surface created to represent the top of the less-weathered granite
was used to limit the extrapolation of grades into volumes that had no data.
The Recoverable MIK technique employed by H&SC in this case requires a set
of 14 variogram models, one for each of the fourteen grade bins used. A set of
variogram models were created for Subzones of the Hippolyte North, Lazare
North and Lazare South deposits. These variogram models were applied to
Subzones that did not have sufficient data to generate reliable models.
The Hippolyte North, Lazar North and Lazar South deposits have areas that have
been drilled on a 50x50 m grid whereas the Hippolyte South areas have been
drilled on a 100x100 m grid. Separate block models were created for Hippolyte
North, Lazar North, Lazar South and for each of the three Zones in Hippolyte
South. Nominal downhole sampling interval is 0.5 m. Drill hole grade data
were composited to 0.5 m intervals. The block dimensions were 50 x 50 m in
plan view and 1 m vertically. The plan dimensions were chosen as it is the
nominal drill hole spacing (preferable for MIK estimation). The vertical
dimension was chosen to reflect the anisotropy of the mineralisation and the
downhole data spacing.
The minimum selective mining unit size is assumed to be 10x10x0.5 m.
A three pass search strategy was used to estimate the U(3)O(8) grades at each
of the deposits. Each pass required a minimum number of samples with data from
a minimum number of octants of the search ellipse to be populated.
Discretisation was set to 10x10x0.5 m. The search criteria are shown below.
The short first axis of the search ellipse is vertical.
1. 1.5x60x60m search, 16-48 samples, minimum 4 octants
2. 1.5x150x150m search, 16-48 samples, minimum 4 octants
3. 2.4x240x240m search, 16-48 samples, minimum 4 octants
The maximum distance of extrapolation of the reported estimates from drill
hole data points is limited to 220 m.
The Hippolyte North and Lazar North deposits were estimated by Mr. Mapeto of
Coffey Mining in 2011. Lazar South was estimated by Mr. Mapeto in 2012.
H&SC has access to these block models and considers that the current
Mineral Resource Estimate takes appropriate account of these models.
Significant additional drilling has occurred since these estimates were
produced so the volume and confidence category have increased. Reasonably
large differences exist between the current and previous estimates due to
differences in estimation methodologies.
No check estimates were produced.
No mining has occurred on the Tiris East deposits so mine production data were
unavailable for comparison.
The final H&SC block model was reviewed visually by H&SC and Aura and
it was concluded that the block model fairly represents the grades observed in
the drill holes. H&SC also validated the block model statistically using
histograms, boxplots, scatter plots and summary statistics.
Moisture Whether the tonnages are estimated on a dry basis or with natural moisture, Tonnages are estimated on a dry weight basis. The moisture content was not
and the method of determination of the moisture content. determined.
Cut-off parameters The basis of the adopted cut-off grade(s) or quality parameters applied. A cut-off of 100 ppm U(3)O(8) cut off is used to report the resources as it
is assumed that ore can be economically mined at this grade in an open pit
scenario. This cut-off is considered to be relatively low compared to
operating uranium mines, but metallurgical test work indicates that a
significant upgrade in uranium and decrease in sulphates can be achieved by a
simple grinding and sieving process.
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum All of the resources reported here have been estimated on the assumption that
mining dimensions and internal (or, if applicable, external) mining dilution. the deposits will be mined by open-pit.
It may not always be possible to make assumptions regarding mining methods and
parameters when estimating Mineral Resources. Where no assumptions have been Recoverable MIK allows for block support correction to account for the change
made, this should be reported. from sample size support to the size of a mining block. This process requires
an assumed grade control drill spacing and the assumed size of the Selective
Mining Unit (SMU). The variance adjustment factors were estimated from the
U(3)O(8) metal variogram models assuming a minimum SMU of 10x10x0.5 metres
(east, north, vertical) with high quality grade control sampling on a
10x10x0.5 metre pattern (east, north, vertical).
The application of the variance adjustments to the resource estimates is
expected to provide estimates of recoverable resources without the need to
apply additional mining dilution or mining recovery factors. Internal
dilution, that is, within the SMU unit is accounted for. If a larger SMU size
or a broader grade control drill pattern is implemented the selectivity
assumed in the reported resources may not be realised.
Metallurgical factors or assumptions The basis for assumptions or predictions regarding metallurgical amenability. The metallurgical test work information supplied to H&SC indicates that
It may not always be possible to make assumptions regarding metallurgical the Tiris East deposits are amenable to a process of crushing, screening and
treatment processes and parameters when reporting Mineral Resources. Where no an alkaline carbonate leach in order to recover uranium. Bench scale test work
assumptions have been made, this should be reported. indicates that a significant upgrade in uranium and decrease in sulphate
concentrations can be achieved through screening.
No penalty elements identified in work so far.
Metallurgical test work on Tiris ore has shown that about 55% to 58% of
vanadium was also extracted during the alkaline leach. The V(2)O(5)/U(3)O(8)
ratios for the final leach liquor are close to the carnotite V(2)O(5)/U(3)O(8)
ratio, indicating that effectively only vanadium from carnotite is being
leached under these conditions. To date, no vanadium extraction test work has
been carried out for the recovery of vanadium from the pregnant leach
solution, so further work is required to demonstrate that a marketable
vanadium product can be produced on a commercial basis.
No further assumptions have been made.
Environmental factors or assumptions Assumptions made regarding possible waste and process residue disposal Aura has informed H&SC that an Environmental and Social Impact Assessment
options. It is always necessary as part of the process of determining has been completed which concluded there are no known issues arising from
reasonable prospects for eventual economic extraction to consider the native title, historical sites, environmental or third party matters that are
potential environmental impacts of the mining and processing operation. While likely to materially affect exploitation. H&SC therefore assumes that
at this stage the determination of potential environmental impacts, there are no known unusual aspects of the Tiris East deposits that may lead to
particularly for a greenfields project, may not always be well advanced, the adverse environmental impacts beyond what is expected from a mining operation.
status of early consideration of these potential environmental impacts should
be reported. Where these aspects have not been considered this should be Waste rock and process residue are expected to be disposed of in the areas
reported with an explanation of the environmental assumptions made. surrounding the deposits and processing facility, in a responsible manner and
in compliance with local mining law.
Bulk density Whether assumed or determined. If assumed, the basis for the Dry bulk density of diamond drill core was measured at the ALS facility in
assumptions. If determined, the method used, whether wet or dry, the frequency Nouakchott using an immersion method (Archimedes principle) on selected PQ
of the measurements, the nature, size and representativeness of the samples. diamond drill core intervals ranging in size from 10 to 30 cm. Competent
pieces of drill core were selected on a nominal interval of 50 cm. The samples
chosen are believed to be representative of the surrounding rock type. All
density samples are wrapped in cling film to avoid water absorption. A total
of 304 density measurements have been taken from drill core at the Tiris East
deposits with values ranging from 1.55 to 2.66 t/m3.
Measured density values show that there is a reasonable correlation between
density and the depth of the sample. A regression was used to assign densities
to each block in the block model based on the depth below surface.
Classification · The basis for the classification of the Mineral Resources into The classification is based on the search pass used to estimate the block. In
varying confidence categories. order to limit small, isolated volumes of different classification (spotted
dog effect) the search passes used to populate each block were locally
· Whether appropriate account has been taken of all relevant averaged. Pass one nominally equates to Measured Resources, Pass two
factors (i.e., relative confidence in tonnage/grade estimations, confidence in translates to Indicated Resources and Pass three equates to Inferred
continuity of geology and metal values, quality, quantity and distribution of Resources.
the data).
This scheme is considered by H&SC to take appropriate account of all
Whether the result appropriately reflects the Competent Person's view of the relevant factors, including the relative confidence in tonnage and grade
deposit. estimates, confidence in the continuity of geology and metal values, and the
quality, quantity and distribution of the data.
The classification appropriately reflects the Competent Person's (Arnold van
der Heyden) view of the deposit.
Audits or reviews The results of any audits or reviews of Mineral Resource estimates. This Mineral Resource estimate has been reviewed by Aura personnel. The
estimation procedure has also been internally reviewed by H&SC. No
material issues were identified as a result of these reviews.
No external audits have been completed on the Mineral Resource estimates.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and The relative accuracy and confidence level in the Mineral Resource estimates
confidence level in the Mineral Resource estimate using an approach or are considered to be in line with the generally accepted accuracy and
procedure deemed appropriate by the Competent Person. For example, the confidence of the nominated JORC Mineral Resource categories. This has been
application of statistical or geostatistical procedures to quantify the determined on a qualitative, rather than quantitative, basis. The main factor
relative accuracy of the resource within stated confidence limits, or, if such that affects the relative accuracy and confidence of the Mineral Resource
an approach is not deemed appropriate, a qualitative discussion of the factors estimate is sample data density due to the reasonably high variability in
that could affect the relative accuracy and confidence of the estimate. uranium grades.
· The statement should specify whether it relates to global or The estimates are global although the resources classified as Measured and
local estimates, and, if local, state the relevant tonnages, which should be Indicated are suitable for long term mine planning studies. It should be noted
relevant to technical and economic evaluation. Documentation should include that the Indicated Resources are based on broadly spaced data and may be
assumptions made and the procedures used. locally inaccurate. Closer spaced drilling is necessary prior to detailed mine
planning.
These statements of relative accuracy and confidence of the estimate should be
compared with production data, where available. No production data are available as only small scale illegal artisanal mining
has occurred around the Tiris East deposits.
1 (#_ftnref1) Average head grade of Tiris composite samples (see table 2)
2 (#_ftnref2) ASX Announcement 10 Feb 2021 titled "DEEP YELLOW PROCEEDING
WITH TUMAS DFS FOLLOWING POSITIVE PFS", p37. Mine grade from Ore Reserves.
3 (#_ftnref3) ASX announcement 2 August 2021 titled "Etango-8
Pre-Feasibility Study" p1. Mine grade from Ore Reserves.
4 (#_ftnref4) ASX announcement 4 November 2021 titled "Langer Heinrich Mine
Restart Plan Update, Mineral Resources and Ore Reserves Update" p1. Mine grade
from Ore Reserves.
5 (#_ftnref5) ASX & AIM Release 29 July 2019 "TIRIS URANIUM DFS
COMPLETED DEMONSTRATING A ROBUST DEVELOPMENT PROJECT"
6 (#_ftnref6) ASX & AIM Release 16 February 2022 "Aura Defines Vanadium
JORC Resource at Tiris Uranium Project"
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