Aero Energy and Fortune Bay Commence Drilling at Howland Lake, Murmac Uranium Project
Aero Energy (AAUGF) has initiated drilling operations at the Howland Lake area of the Murmac Uranium Project in northern Saskatchewan. The program, operated by Fortune Bay Corp under a December 2023 Option Agreement, plans to complete up to six drill holes targeting electromagnetic conductors with previous uranium findings.
The drilling campaign focuses on two key areas: Howland Lake North, following up on drill hole M24-017's intersection of 8.40m at 0.30% U3O8 (with peaks of 13.80% U3O8 over 0.10m), and Howland Lake South, extending from drill hole M22-012's finding of 0.17% U3O8 over 0.10m.
The selected drilling targets are supported by favorable indicators for high-grade basement-hosted deposits, including EM conductor breaks, structural features, and significant alteration in historical drill holes. The project area contains over 35 kilometers of graphitic corridors with multiple priority targets identified for future exploration.
Aero Energy (AAUGF) ha avviato le operazioni di perforazione nell'area di Howland Lake del Murmac Uranium Project nel nord della Saskatchewan. Il programma, gestito da Fortune Bay Corp sotto un Accordo di Opzione di dicembre 2023, prevede di completare fino a sei fori di perforazione mirati a conduttori elettromagnetici con precedenti ritrovamenti di uranio.
La campagna di perforazione si concentra su due aree chiave: Howland Lake North, seguendo l'intersezione del foro di perforazione M24-017 di 8.40m a 0.30% U3O8 (con picchi di 13.80% U3O8 su 0.10m), e Howland Lake South, estendendosi dal ritrovamento di 0.17% U3O8 su 0.10m del foro di perforazione M22-012.
I target di perforazione selezionati sono supportati da indicatori favorevoli per depositi ad alta gradazione ospitati nel basement, inclusi rotture di conduttori EM, caratteristiche strutturali e significative alterazioni in fori di perforazione storici. L'area del progetto contiene oltre 35 chilometri di corridoi grafitici con molteplici target prioritari identificati per future esplorazioni.
Aero Energy (AAUGF) ha iniciado operaciones de perforación en el área de Howland Lake del Murmac Uranium Project en el norte de Saskatchewan. El programa, operado por Fortune Bay Corp bajo un Acuerdo de Opción de diciembre de 2023, planea completar hasta seis pozos de perforación dirigidos a conductores electromagnéticos con hallazgos previos de uranio.
La campaña de perforación se centra en dos áreas clave: Howland Lake North, siguiendo la intersección del pozo de perforación M24-017 de 8.40m a 0.30% U3O8 (con picos de 13.80% U3O8 sobre 0.10m), y Howland Lake South, que se extiende desde el hallazgo de 0.17% U3O8 sobre 0.10m del pozo de perforación M22-012.
Los objetivos de perforación seleccionados están respaldados por indicadores favorables para depósitos de alta ley alojados en el basement, incluidos cortes de conductores EM, características estructurales y alteraciones significativas en pozos de perforación históricos. El área del proyecto contiene más de 35 kilómetros de corredores grafíticos con múltiples objetivos prioritarios identificados para futuras exploraciones.
Aero Energy (AAUGF)는 북부 사스카치완의 Murmac Uranium Project의 Howland Lake 지역에서 시추 작업을 시작했습니다. 2023년 12월 옵션 계약에 따라 Fortune Bay Corp가 운영하는 이 프로그램은 이전의 우라늄 발견과 관련된 전자기 전도체를 목표로 최대 6개의 시추홀을 완공할 계획입니다.
시추 캠페인은 두 가지 주요 지역에 초점을 맞추고 있습니다: Howland Lake North, 시추홀 M24-017의 8.40m에서 0.30% U3O8의 교차점(0.10m에서 13.80% U3O8의 피크 포함)을 따르고, Howland Lake South, 시추홀 M22-012의 0.17% U3O8 발견에서 확장됩니다.
선택된 시추 목표는 EM 전도체의 단절, 구조적 특징 및 역사적인 시추홀에서의 중요한 변화를 포함하여 고품질 베이스먼트 호스팅 매장량에 대한 유리한 지표로 뒷받침됩니다. 프로젝트 지역에는 여러 우선 탐색 목표가 식별된 35킬로미터 이상의 흑연 복도도 포함되어 있습니다.
Aero Energy (AAUGF) a lancé des opérations de forage dans la zone de Howland Lake du Murmac Uranium Project dans le nord de la Saskatchewan. Le programme, opéré par Fortune Bay Corp sous un Accord d'Option de décembre 2023, prévoit de réaliser jusqu'à six forages ciblant des conducteurs électromagnétiques avec des découvertes antérieures d'uranium.
La campagne de forage se concentre sur deux zones clés : Howland Lake North, suite à l'intersection du forage M24-017 de 8,40 m à 0,30 % U3O8 (avec des pics de 13,80 % U3O8 sur 0,10 m), et Howland Lake South, s'étendant à partir de la découverte de 0,17 % U3O8 sur 0,10 m du forage M22-012.
Les cibles de forage sélectionnées sont soutenues par des indicateurs favorables pour des dépôts de haute qualité hébergés dans le sous-sol, y compris des ruptures de conducteurs EM, des caractéristiques structurelles et des altérations significatives dans des forages historiques. La zone du projet contient plus de 35 kilomètres de corridors graphitiques avec plusieurs cibles prioritaires identifiées pour de futures explorations.
Aero Energy (AAUGF) hat mit den Bohrarbeiten im Howland Lake Gebiet des Murmac Uranium Project im Norden von Saskatchewan begonnen. Das Programm, das von Fortune Bay Corp unter einem Optionsvertrag vom Dezember 2023 betrieben wird, plant die Fertigstellung von bis zu sechs Bohrlöchern, die elektromagnetische Leiter mit vorherigen Uranfunden anvisieren.
Die Bohrkampagne konzentriert sich auf zwei Schlüsselbereiche: Howland Lake North, das auf die Schnittstelle des Bohrlochs M24-017 mit 8,40 m bei 0,30 % U3O8 (mit Spitzenwerten von 13,80 % U3O8 über 0,10 m) folgt, und Howland Lake South, das sich aus dem Fund von 0,17 % U3O8 über 0,10 m im Bohrloch M22-012 erstreckt.
Die ausgewählten Bohrziele werden durch günstige Indikatoren für hochgradige, im Basement gehostete Lagerstätten unterstützt, einschließlich EM-Leiterbrüche, strukturelle Merkmale und signifikante Veränderungen in historischen Bohrlöchern. Das Projektgebiet umfasst über 35 Kilometer graphitischer Korridore mit mehreren priorisierten Zielen, die für zukünftige Erkundungen identifiziert wurden.
- High-grade uranium intersections from previous drilling (up to 13.80% U3O8)
- Extensive exploration potential with 35+ km of graphitic corridors
- Multiple confirmed uranium-bearing targets supported by EM conductors and radon anomalies
- drill program size (only six holes) may not fully test the project potential
- Previous drilling showed relatively narrow mineralized intervals (0.10m)
Vancouver, British Columbia--(Newsfile Corp. - March 19, 2025) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the commencement of drilling at Howland Lake on the Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan near Uranium City.
The program is expected to include up to six drill holes to further test the Howland Lake electromagnetic ("EM") conductors which returned uranium intercepts from first-pass drilling. As demonstrated from previous exploration results, the Project has potential to host high-grade, basement-hosted deposits typical of the Athabasca Basin.
Exploration work at Murmac is being funded the Company and is being operated by Fortune Bay Corp (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN) ("Fortune Bay"), under an Option Agreement that was executed on December 15, 2023.
Highlights:
High-Grade Follow-Up: Drilling to be focused at Howland Lake North on targets along strike of drill hole M24-017 that intersected 8.40 m at
0.30% U3O8, with individual assays up to13.80% U3O8 over 0.10 m. Additional drilling is planned at Howland Lake South, along strike of drill hole M22-012 that intersected0.17% U3O8 over 0.10 m.Compelling Drill Target Support: Selected drill targets (Figure 1) are backed by favorable criteria for high-grade basement-hosted deposits, including EM conductor breaks, structure, and significant alteration noted in historical drill holes. Known mineralized cross faults and strong radon-in-water anomalies from recent surveys further support target selection (see News Release dated February 20, 2025).
Focused Drilling Program: The winter 2025 drilling program will be focused on priority targets developed at Howland Lake which will be more efficiently tested from ice-based drill hole locations. Numerous other priority targets have also been identified along Murmac's extensive graphitic corridors (>35 kilometres of strike) that warrant future drill testing.
Galen McNamara, CEO for Aero Energy, commented, "The Howland Lake drilling program is a key step forward for Murmac, targeting zones with proven high-grade uranium potential. Supported by solid science and our partnership with Fortune Bay, we're determined to define a significant new uranium deposit in the Athabasca Basin."
Figure 1: Howland Lake radon-in-water results and drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/245140_aeroimage.jpg
Technical Disclosure
Details regarding previous drill results from 2022 and 2024 can be found in news releases dated October 8, 2024, and December 13, 2022, respectively. Further details regarding historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) references 74N07-0011, 74N07-0173 and 74N07-0277. Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. The Company considers the unverified historical results relevant to assess the mineralization and economic potential of the property.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO of the Company, who is a Qualified Person as defined by NI 43-101.
About Aero Energy
Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in Saskatchewan's historic Uranium City district within the Athabasca Basin. Aero is focused on uncovering high-grade uranium deposits across its flagship Optioned Properties – Sun Dog, Strike, and Murmac – in addition to its fully owned properties. Aero is led by an award-winning technical team responsible for discoveries along the prolific Patterson Corridor that include the Gryphon (TSX: DML), Arrow (TSX: NXE), and Triple-R (TSX: FCU) deposits. With over 50 shallow drill-ready targets identified and 125 km of target horizon, Aero is tapping into the basin's emerging potential for high-grade, unconformity-style mineralization.
On Behalf of the Board of Directors
"Galen McNamara"
Chief Executive Officer
604-288-8046
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things the exploration and development of the Company's mineral exploration projects including completion of drilling activities.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245140
FAQ
What uranium grades did Aero Energy (AAUGF) find in their previous Howland Lake drilling?
How many drill holes is AAUGF planning for the Howland Lake uranium program?
What is the extent of AAUGF's Murmac Project's graphitic corridors?
When did Aero Energy (AAUGF) sign the Option Agreement with Fortune Bay for the Murmac Project?
