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Angold Resources Announces Acquisition of Saskatchewan Uranium Projects; Proposed Name Change to Aero Energy Limited
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2023) - Angold Resources Ltd. (T...
About this update from Manhattan Uranium Discovery Corporation
[{"type":"text","content":"Angold Resources Announces Acquisition of Saskatchewan Uranium Projects; Proposed Name Change to Aero Energy LimitedVancouver, British Columbia--(Newsfile Corp. - December 22, 2023) - Angold Resources Ltd. (TSXV: AAU) (FSE: 13L0) (\"Angold\" or the \"Company\") is pleased to announce that it has entered into a definitive share purchase agreement dated December 21, 2023, to acquire (the \"Acquisition\") 1443904 B.C. Ltd. (\"NumberCo\"). NumberCo holds options to acquire up to 70% of the Murmac Property and Strike Property, and 100% of the Sun Dog Property, (collectively the \"Optioned Properties\"). The Optioned Properties are all located in proximity to Angold's existing uranium exploration properties near Uranium City, Saskatchewan, creating a leading land position totalling 101,108 hectares in the prolific Beaverlodge mining district where approximately 70 million pounds of U3O8 was produced between 1950 and 19821. Additionally, the Company announces that it intends to change its name to Aero Energy Limited (the \"Name Change\").Property DescriptionsThe Optioned Properties, covering a total area of 39,381 hectares, are located along the northwestern margin of the Athabasca Basin and encompass the vast majority of target horizons (electromagnetic or \"EM\" conductors) in the Uranium City area for high-grade uranium mineralization associated with the Athabasca Basin unconformity (\"Unconformity-style\" mineralization). Historical exploration efforts were focused on \"Beaverlodge-style\" mineralization, and the Optioned Properties are largely unexplored by modern techniques. Within the Optioned Properties there are numerous historical high-grade uranium (>1% U3O8) surface showings, in addition to historical uranium production. Approximately $7.6M has been invested in the Optioned Properties since 2020 by Fortune Bay Corp. (\"Fortune Bay\") and Standard Uranium Ltd. (\"Standard\", and together with Fortune Bay, the \"Underlying Owners\"). The Optioned Properties contain multiple, permitted, drill ready targets where reconnaissance drilling completed by the Underlying Owners intersected narrow zones of uranium mineralization and wide zones of hydrothermal alteration. Shallow, elevated uranium in drill core on the Optioned Properties is associated with favourable brittle-deformed graphitic rocks and pathfinder elements typic...