Dozens of targets still undrilled!
Uranium explorer Aero Energy (TSXV AERO / Frankfurt UU3) has discovered high-grade uranium near the surface with grades of up to 13.80% U₃O₈ in the right host rock on the Murmac uranium project in northern Saskatchewan near Uranium City. The measurements from drill hole M24-017, which was named Shallow New Zone, are part of an initial set of results from the 2024 exploration drilling program, during which eight holes were drilled between June and July. Data from four drill holes (M24-016A – M24-19) are now available.
The mineralization in M24-017 (Shallow New Zone) was intersected at a depth of only 64 meters below the surface and represents one of the shallowest high-grade mineralizations known in the Athabasca Basin. Drill hole M24-017 intersected a total of 8.4 m grading 0.3% U₃O₈ including 1.20 m grading 1.79% U₃O₈, with individual samples up to 13.8% U₃O₈ and 4.54% U₃O₈ over 0.10 m. The drilling program was funded by the company and conducted by Fortune Bay Corp. (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN) (“Fortune Bay”).
The drilling was aimed at testing regional targets in the extensive Armbruster, Howland, and Pitchvein conductor corridors of the project, which together have a strike length of about 30 kilometers on the project. All four drill holes for which analytical results are available confirmed near-surface elevated uranium concentrations in structured graphite-bearing rocks, 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 rock opens the door for further discoveries on our projects at the northern edge of the Athabasca Basin. As the area is largely unexplored for the type of uranium we are looking for, near-surface mineralization likely remains 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 its second drill hole, and dozens more targets remain undrilled. The discovery of high-grade uranium in the targeted graphite-bearing rock units opens up an entirely new search space 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. By employing modern exploration techniques, the company has identified over 50 near-surface drill-ready targets along the northern edge of the Athabasca Basin.
