Business
Aero Energy and Fortune Bay Announce Completion of Drilling Program on the Murmac Uranium Project, Saskatchewan
Drill Currently Moving to the Adjacent Sun Dog Project Vancouver, British Columbia--(Newsfile Co...
About this update from Aero Energy Limited
[{"type":"text","content":"\nAero Energy and Fortune Bay Announce Completion of Drilling Program on the Murmac Uranium Project, SaskatchewanDrill Currently Moving to the Adjacent Sun Dog ProjectVancouver, British Columbia--(Newsfile Corp. - July 24, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) (\"Aero\" or the \"Company\") is pleased to announce completion of the 2024 summer drill program on the Murmac Uranium Project (\"Murmac\" or the \"Project\"), located in northern Saskatchewan near Uranium City. The program was designed to test regional targets across the Project for high-grade, unconformity-related basement-hosted deposits typical of the Athabasca Basin. The drilling program was funded by Aero and operated by Fortune Bay Corp (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN) (\"Fortune Bay\"), pursuant to the underlying option agreement between the companies. Highlights:New Shallow Discovery of Radioactivity: An average of 1,309 counts per second was intersected over 8.7 metres in hole M24-017 in structured graphitic pelite, with up to 33,600 counts per second (\"cps\") (using handheld RS-125 Spectrometer) associated with visible uranium mineralization. This interval is located approximately 70 to 78 metres below surface.Uranium Fertile Target: Hole M24-017 was followed up with three additional holes (M24-018, -019 and -020), comprising approximate 50 metre step outs down-dip, along-strike northeast, and along-strike southwest, respectively. All three holes returned anomalous radioactivity (up to 850 cps) in graphitic rocks underlying a hematized quartzite hangingwall. Excellent Prospectivity Confirmed: These results (drill holes M24-17 to -020) confirm the presence of a larger hydrothermal uranium mineralizing system along this unexplored, 1.2 kilometre long electromagnetic (\"EM\") conductor on the Howland Corridor. Strong Alteration at Additional Targets: Drill holes M24-021, M24-022A and M24-023, tested geophysical (EM and gravity) anomalies H6, A22, and H16 respectively, intersecting compelling hydrothermal alteration and structure associated with variably graphitic rocks, further confirming the prospectivity of the entire length of the Howland and Armbruster Corridors for unconformity-related, basement-hosted deposits.Assays Pending and Follow-Up Drilling Planned: Following uranium assay and geochemical analysis of drill core samples...