We are in the midst of a new uranium bull market
The previous owners of the Murmac, Sun Dog and Strike uranium projects already invested 7.6 million dollars in the exploration of the promising properties on the northern edge of the world-famous Athabasca Basin. This has included initial exploration drilling, which has contributed to the discovery of numerous uranium-bearing EM (electromagnetic) conductors coincident with favorable gravity anomalies. Uranium company Aero Energy (WKN A4007Y / TSXV AERO) now wants to build on this preparatory work with its own drilling and has already engaged a highly experienced drill service provider for this purpose.
The Murmac, Sun Dog and Strike projects are located in the so-called Uranium City district. This is an area of the Athabasca Basin that was well-known for its uranium production in the past, but at the same time has been little explored for its potential to host high-grade deposits in the bedrock. Examples of this type of deposit include NexGen Energy’s Arrow and Fission Uranium’s Triple R elsewhere in the Athabasca Basin.
About 20 targets are to be investigated with drilling this summer
Aero now wants to start searching for precisely this type of deposit this summer and has planned to drill a total length of 4,000 meters across the three projects. The average depth of the boreholes is expected to be 200 meters, meaning that around 20 targets can be tested with the drill bit. Exactly which targets these will be and exactly how many holes will be drilled will be announced in the coming weeks.
To this end, Aero is already in consultation behind the scenes with its operating partners Fortune Bay and Standard Uranium, who will then prepare the drilling work with the experts now hired from Team Drilling in Saskatoon, Saskatchewan, and activities are expected to start in June. By then, the results of the airborne VTEM™ Plus survey, which Aero recently started, will certainly be available. (We reported.)
Aero Energy’s CEO Galen McNamara stated, “Securing the services of a reliable drilling contractor is another step towards executing our planned comprehensive exploration program in Saskatchewan this year. Behind the scenes, we are working closely with our partners at Fortune Bay Corp. and Standard Uranium Ltd. to conduct geophysical surveys and optimize drill targets. We look forward to unlocking the full potential of these highly prospective projects.”
Murmac and Sun Dog projects showing 30 km long trend featuring multiple uranium-bearing conductors; Source: Aero Energy
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