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Metalite Resources Expands Uranium Portfolio to Power the AI Revolution by Adding Aerobus Lake Project to Acquisition of Lyra Mining
Toronto, ON – TheNewswire - December 2, 2024 – Metalite Resources Inc. (CSE:METL) (OTC:JNCCF) (Frankfurt:D68) ("Metalite" or the "Company") is pleased to announ
About this update from Metalite Resources Inc
[{"type":"text","content":"Toronto, ON – TheNewswire - December 2, 2024 – Metalite Resources Inc. (CSE:METL) (OTC:JNCCF) (Frankfurt:D68) (\"Metalite\" or the \"Company\") is pleased to announce that further to the Metalite's press release dated November 27, 2024 that the proposed acquisition of a 100% interest in Lyra Mining Corp. (\"Lyra\"), a private company with which Metalite signed a binding letter of intent (\"LOI\") will also include the Aerobus Lake Project (the \"Aerobus Lake Project\"). The Aerobus Lake Project, which was not previously owned by Lyra, will be vended into Lyra as part of the acquisition, thereby forming a key component of the property package to be acquired by Metalite. Christopher Hazelton, CEO of Metalite commented: \"We are grateful for the vote of confidence by the owners of Lyra to include the Aerobus Lake Project into the property package that we are in the process of acquiring. This development aligns with Metalite’s mission to address the growing energy needs of AI and emerging technologies through sustainable uranium resource development.\" About the Aerobus Lake Project The Aerobus Lake Project is comprised of 124 unpatented mining claims located in the Kenora Mining Division, approximately 70km northwest of the City of Dryden, ON and approximately 80km southeast of the Red Lake mining camp. The property spans 166 unpatented mining claims covering approximately 2,576 hectares, which was previously explored by a number of companies seeking uranium discoveries. In 2008, a regional aeromagnetic and radiometric survey was conducted by Delta Uranium Inc.1, which also covered the Aerobus Lake Project area that is owned by Lyra, followed by a surface prospecting program. This work resulted in the identification of various uranium occurences1, including three located on the area comprising Lyra’s Aerobus Lake Project 2. Lyra’s review of the historical data identified several prospective areas, which corresponded with anomalous radiometric airborne survey readings and elevated Scintillometer counts per second (CPS) and uranium (U3O8%) assays. The anomalous surface sample assays are summarized below by target area within the Aerobus Lake Project area with the most significant results bolded3: Area Sample # E_NAD83_15 N_NAD83_15 CPS U ppm Mass (g) U3O8 (ppm) Area A 247917 472650 5575102 2800 27.5 1.0 32.45 247924 473021 5575...