Dozens of targets not even drilled, yet
Uranium explorer Aero Energy Ltd (TSXV: AERO; OTCQB: AAUGF; FSE: UU3) has discovered high-grade uranium in the right host rock at surface, with grades of up to 13.80% U₃O₈, at the Murmac Uranium Project in northern Saskatchewan, near Uranium City The measurements from hole M24-017, named the Shallow New Zone, are among the first batch of results from the 2024 exploration drilling program, in which eight holes were drilled between June and July. Data from four holes (M24-016A – M24-19) are now available. Results from the remaining holes are pending.
Mineralization in M24-017 (Shallow New Zone) was intersected at only 64 meters below surface and represents some of the shallowest high-grade mineralization known in the Athabasca Basin A total of 8.4m of 0.3% U₃O₈ was intersected in hole M24-017, including 1.20m of 1.79% U₃O₈, with individual samples of up to 13.8% U₃O₈ and 4.54% U₃O₈ over 0.10m The drill program was company funded and managed by Fortune Bay Corp. (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN)
Drilling was designed to test regional targets within the project’s extensive Armbruster, Howland and Pitchvein conductor corridors, which collectively cover approximately 30 kilometers of strike length on the project. All four drill holes for which assay results are available, near-surface elevated concentrations of uranium in graphitic structured rocks were confirmed, including results of 13.80% U₃O₈ and 4.54% U₃O₈ from individual samples.
Galen McNamara, CEO of Aero Energy, commented, “The discovery of high-grade uranium in the right host rocks opens the door to further discoveries on our projects in the northern Athabasca Basin. Because the area is largely unexplored for the type of uranium we are looking for, near-surface mineralization remains likely undiscovered. We look forward to continuing exploration with our partners at Fortune Bay.”
Figure 1: Location of M24-017 and surrounding drill holes.
Conclusion: Aero Energy has now quickly confirmed a high-grade discovery in just its second drill hole, and dozens of other targets have not yet been drilled. The discovery of high-grade uranium in the targeted graphitic rock units opens up an entirely new search area with a cumulative strike length of 125 km on the company’s projects The Company and Fortune Bay are prioritizing follow-up targets for a winter drilling program. Employing modern exploration techniques, the Company has identified over 50 shallow drill-ready targets on the northern margin of the Athabasca Basin.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. This content is intended solely for the information of readers and does not constitute a call to action; it is neither expressly nor implicitly to be understood as a guarantee of share price performance. Furthermore, they are in no way a substitute for individual expert investment advice and do not constitute an offer to sell the share(s) in question or a solicitation to buy or sell securities. It is expressly not a financial analysis, but an advertising/journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so exclusively at their own risk. No contractual relationship is established between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information relates only to the company and not to the reader’s investment decision.
The acquisition of securities is associated with high risks, which can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. However, liability for financial losses or the guarantee that the content of the articles offered here is up-to-date, correct, appropriate and complete is expressly excluded. Please also note our terms of use.
According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Aero Energy Ltd. and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time, which may affect the price of Aero Energy Ltd. shares. In addition, GOLDINVEST Consulting GmbH is remunerated by Aero Energy Ltd. for reporting on the company. This is another clear conflict of interest.
