Aurora Energy Resources Inc. (TSX:AXU) has started a $26 million uranium exploration program in Labrador.
The company plans to spend approximately $21 million on drilling in the Michelin, Jacques Lake, Aurora Corridor and Inda Lake areas of northern Labrador.
About $5 million will be spent on environmental, engineering and metallurgical studies for the company's pre-feasibility study.
Aurora expects to register its uranium project with the Canadian Environmental Assessment Agency by year's end.
Aurora's share price range during the past week: between $17.81 and $18.12; 52-week high: $20.09; 52-week low: $3.55.