공지 • Jul 24
Fortune Bay Corp. Announces Completion of Drilling Program on the Murmac Uranium Project
Fortune Bay Corp. announced completion of the 2024 summer drill program on the Murmac Uranium Project (Murmac or the Project), located in northern Saskatchewan near Uranium City. The program was designed to test regional targets across the Project for high-grade, unconformity-related basement-hosted deposits typical of the Athabasca Basin. Highlights: An average of 1,309 counts per second was intersected over 8.7 metres in hole M24-017 in structured graphitic pelite, with up to 33,600 counts per second (cps) (using handheld RS-125 Spectrometer) associated with visible uranium mineralization. This interval is located approximately 70 to 78 metres below surface. Hole M24-017 was followed up with three additional holes (M24-018, -019 and -020), comprising approximate 50 metre step outs down-dip, along-strike northeast, and along-strike southwest, respectively. All three holes returned anomalous radioactivity (up to 850 cps) in graphitic rocks underlying a hematized quartzite hangingwall. These results (drill holes M24-17 to -020) confirm the presence of a larger hydrothermal uranium mineralizing system along this unexplored, 1.2 kilometre long electromagnetic (EM) conductor on the Howland Corridor. Drill holes M24-021, M24-022A and M24-023, tested geophysical (EM and gravity) anomalies H6, A22, and H16 respectively, intersecting compelling hydrothermal alteration and structure associated with variably graphitic rocks, further confirming the prospectivity of the entire length of the Howland and Armbruster Corridors for unconformity-related, basement-hosted deposits. Following uranium assay and geochemical analysis of drill core samples, a second phase drilling program is being planned to follow-up along strike of mineralized drill holes and continue testing of priority drill targets across the Project. Initial Drill Results: A total of eight drill holes were completed at Murmac during June and July, 2024 to test targets documented in the News Release dated June 4, 2024 along the Pitchvein, Armbruster and Howland Corridors. Drill holes targeted compelling geophysical signatures (electromagnetics and gravity) and favorable geological/structural settings. Drill target selections also took into account proximity to historical uranium occurrences of interest and Fortune Bay's previous positive drilling results. The completed drill holes encountered highly favorable geological settings for high-grade basement-hosted deposits associated with the Athabasca Basin. This included: Thick and strongly graphitic target units (up to an estimated ~30 metres in true thickness) often in contact with quartzites, providing favorable competency/rheological contrast. Brittle faulting and brecciation were observed within, or proximal to, the graphitic units and were typically associated with favorable hydrothermal alteration including abundant hematite, chlorite, sulphides, and clays. Anomalous radioactivity (>300 cps) was intersected in five of the eight holes completed, associated with cataclastic or mylonitic structured and altered graphitic pelites. A summary of the drill holes are provided as follows: M24-016A: The targeted conductor (moderate to strongly graphitic pelite) was intersected between 94.4 and 120.7 m. This step-out hole, approximately 100 metres northeast of positive results in 2022 drill holes M22-013 and M22-014, and 175 metres southwest of positive historical results from SMDC drilling (CKI-9 and CKI-10), intersected anomalous radioactivity in graphitic pelite, indicating possible continuity of mineralization between these two locations. M24-017: This hole tested geophysical (EM and gravity) target H15, which occurs at the intersection of the EM conductor and a property-scale, mineralized cross-fault, beneath Howland Lake. Intermittent anomalous radioactivity (up to a maximum of 1,800 cps over 0.1 metre) was intersected in hematized, faulted hangingwall quartzite. This overlies a structured graphitic pelite averaging 1,309 cps over 8.70 metres, with measurements up to 33,600 cps over 0.1 metre. This intersection, of radioactivit hosted in previously unexplored (under a shallow lake) graphitic pelite, at a cross-fault location, provides a compelling validation of the exploration target, justifying down-dip and along strike follow up (subsequent three drill holes). M24-018: Steeper follow up of M22-017, shows down-dip continuity (approximate 50 metres vertical) in anomalous radioactivity hosted in graphitic pelite (Figure 4), up to a maximum of 660 cps over 0.1 metre.