Aero Energy (TSXV: AERO; OTC Pink: AAUGF)and Fortune Bay have completed their 2024 summer drill program on the Murmac uranium project in northern Saskatchewan, near Uranium City. Funded by Aero Energy and operated by Fortune Bay, the drilling yielded promising results.
A significant discovery was made in hole M24-017, where an average of 1,309 counts per second (cps) of radioactivity was detected over 8.7 metres, with peaks of up to 33,600 cps associated with visible uranium mineralization. This interval lies about 70 to 78 metres below the surface, confirming a substantial hydrothermal uranium mineralizing system along a previously unexplored 1.2-km-long electromagnetic conductor on the Howland corridor. Assays are pending, and a second phase of drilling is planned to further investigate these results and other priority targets across the project. Meanwhile, attention is shifting to the adjacent Sun Dog project for additional drilling.
Aero Energy’s CEO Galen McNamara emphasized the significance of the new discovery. He pointed out that historically smaller and lower-grade deposits in the Uranium City area, including the nationally important Gunnar mine developed by his cousin Gilbert Labine in the 1950s, may have masked larger modern exploration targets.
“Our projects host a 30 km trend of the correct graphite-bearing rocks which act as a chemical sponge for uranium-bearing fluids, all of which are grossly underexplored for the type of mineralization we seek. We are now very much looking forward to imminent drilling on the Sun Dog project," said McNamara.
During June and July 2024, eight drill holes were completed at Murmac along the Pitchvein, Armbruster and Howland corridors, and they had highly favourable geological settings for high-grade basement-hosted uranium deposits associated with the Athabasca Basin.
Drill core samples will be analyzed by Saskatchewan Research Council geoanalytical laboratories in Saskatoon.
Murmac is located between the historical Gunnar and Lorado uranium mines. A 2022 drilling program by Fortune Bay had already confirmed the potential for high-grade uranium with significant findings in several drill holes, validating the exploration model.
For more information, visit www.AeroEnergy.ca or www.FortuneBayCorp.com.
September 18, 2024
September 18, 2024
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