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Aero Energy and Fortune Bay Confirm Shallow High-grade Uranium Discovery up to 13.80% U3O8 from Drilling at the Murmac Project
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Aero Energy Limited (TSXV: AERO...
About this update from Aero Energy Limited
[{"type":"text","content":"Aero Energy and Fortune Bay Confirm Shallow High-grade Uranium Discovery up to 13.80% U3O8 from Drilling at the Murmac ProjectVancouver, British Columbia--(Newsfile Corp. - October 8, 2024) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) (\"Aero\" or the \"Company\") is pleased to report high-grade uranium assays in the first set of results from its 2024 exploration drilling program on the Murmac Uranium Project (\"Murmac\" or the \"Project\"), located in northern Saskatchewan near Uranium City. The drilling program was funded by the Company and operated by Fortune Bay Corp. (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN) (\"Fortune Bay\"). Drilling was designed to test regional targets across the Project's extensive Armbruster, Howland and Pitchvein Conductor Corridors, which have a combined strike length of approximately 30 kilometers on the Project. Shallow, elevated concentrations of uranium occurring in structured graphitic rocks were confirmed in all four drill holes for which analytical results are available, including results of 13.80% U3O8 and 4.54% U3O8 from individual assay samples.Highlights:High Grade Uranium: 8.4 m at 0.3% U3O8 including 1.20 m at 1.79 % U3O8, with individual assays up to 13.8% U3O8 and 4.54% U3O8 over 0.10 m in hole M24-017. Shallow New Zone: Mineralization in M24-017 was intersected beginning at only 64 meters vertically below surface representing some of the shallowest high-grade mineralization known around the Athabasca Basin. Speed to Discovery: The Company has now quickly confirmed a high-grade discovery in only its 2nd hole and dozens of additional targets remain undrilled. Successful Exploration on the Frontier: The discovery of high-grade uranium within the targeted graphitic rock units unlocks an entirely new search space covering 125 km of cumulative strike length on the Company's projects. Additional Upside: The Company and Fortune Bay are prioritizing follow up targets for a winter drill program. Galen McNamara, CEO of Aero Energy, commented, \"The discovery of high-grade uranium in the right host rocks kicks open the door to ongoing additional discovery on our projects on the north rim of the Athabasca Basin. Because the area is largely underexplored for the style of uranium we are searching for, shallow mineralization likely remains undiscovered. We look forward to continu...