お知らせ • Jun 04
Fortune Bay Announces Priority Drill Targets and Results for Murmac and Strike Uranium Projects
Fortune Bay had selected priority drill targets for the upcoming exploration program at the Murmac and Strike Uranium Projects, located near Uranium City in northern Saskatchewan. The upcoming program is expected to consist of approximately 5,000 metres of drilling to test up to 25 priority targets across the Projects. The targets include both follow-up opportunities near previous uranium results and first-pass tests of newly defined targets along more than 60 kilometres of prospective electromagnetic conductor packages on the northern margin of the Athabasca Basin. The program is being funded by Manhattan Uranium Discovery Corp. under an option agreement, with Fortune Bay acting as operator. Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, providing a large target inventory for basement-hosted uranium exploration. Previous drilling at Murmac returned 8.40 metres grading 0.30% U3O8, including 1.20 metres grading 1.79% U3O8, with individual assays up to 13.80% U3O8 over 0.10 metres in drill hole M24-017. At Strike, Fortune Bay’s maiden drill program intersected anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U3O8. Historical small-scale production from the Tena Zone reportedly included grades of 0.6% to 3.5% U3O8, and confirmatory surface rock sampling returned assays including 3.51% U3O8 and 1.75% U3O8. Mobilization is being planned, with drilling expected to commence in June. The Murmac and Strike Projects comprise mineral claims totalling approximately 19,877 hectares within 25 kilometres of Uranium City, Saskatchewan, on the northern margin of the Athabasca Basin. The Projects are prospective for high-grade, basement-hosted uranium deposits associated with graphitic electromagnetic conductor corridors, structural reactivation, alteration and uranium-bearing mineralizing systems related to the Athabasca Basin. Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, which were not systematically targeted or drill tested during historical exploration efforts. Exploration completed by Fortune Bay and Manhattan has included compilation of historical exploration data, modern airborne electromagnetic and magnetic surveying, ground gravity surveying, prospecting, radon-in-water surveying, and diamond drilling. This work has confirmed favourable host rocks, prospective structures, uranium mineralization, and multiple target areas warranting follow-up drilling. The upcoming program is designed to systematically test priority targets where multiple exploration criteria coincide, including favourable graphitic conductors, interpreted structures, uranium mineralization or anomalism, alteration, and supportive historical exploration results. At Murmac, previous drilling has confirmed shallow uranium mineralization associated with structured graphitic rocks, the typical host rocks for basement-hosted high-grade Athabasca Basin uranium deposits. Drill hole M24-017, completed at Howland Lake North, intersected 8.40 metres grading 0.30% U3O8, including 1.20 metres grading 1.79% U3O8, with individual assays up to 13.80% U3O8 over 0.10 metres and 4.54% U3O8 over 0.10 metres. This high-grade mineralization was intersected at approximately 64 metres below surface within favourable structured graphitic rocks. Drilling at Murmac has intersected elevated uranium (> 100 ppm) associated with graphitic rocks and hydrothermal alteration in 12 of 31 previous holes across the entire length of the targeted conductors, indicating the presence of a large-scale uranium mineralizing system. At Strike, previous exploration has confirmed uranium potential at surface, in historical workings and through drilling. Historical small-scale mining at the Tena Zone reportedly produced over 1,000 tons in the 1950s at grades of 0.6% to 3.5% U3O8. Confirmatory surface sampling by Fortune Bay returned high-grade uranium assays, including 3.51% U3O8 and 1.75% U3O8, confirming the presence of high-grade uranium mineralization at surface. Fortune Bay’s maiden drill program at Strike also confirmed basement-hosted uranium mineralization. Analytical results confirmed anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U3O8. Uranium mineralization was associated with enriched pathfinder elements commonly associated with high-grade, unconformity-related uranium deposits in the Athabasca Basin. The upcoming program will follow up near previous Strike results and test additional priority targets along prospective conductor corridors and structural trends. Fortune Bay drill results refer to drill core and surface grab samples submitted to the Saskatchewan Research Council Geoanalytical Laboratories (ISO/IEC 17025:2005 accredited) for uranium assay and multi-element characterization. Sample preparation for all samples included drying, jaw crushing to 60% passing -2 mm, and pulverizing to 90% passing -106 microns. Multi-element characterization was carried out by partial digestion (HNO3:HCl), using ICP-OES and ICP-MS analytical methods. For selected samples U3O8 weight % was determined separately through partial digest (HCl:HNO3) and ICP-OES (ISO/IEC 17025 accredited method). Further details regarding the historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) and the Saskatchewan Mineral Deposit Index (SMDI). 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. Historical drill hole locations, captured from georeferenced assessment report maps, are subject to uncertainty (considered accurate to +/-50 metres. The Company considers these unverified historical results relevant to assess the mineralization and economic potential of the property. The historical information referenced derives from SMAD references 74N07-0011, 74N07-0173, 74N07-0277, 74N11-SE-0016 and 74N11-0052.