Earlier this week, Aero Energy Limited (Ticker: AERO.v or AAUGF for US investors) provided an update on its ongoing drilling and exploration at the Murmac and Sun Dog uranium projects, located near Uranium City in Northern Saskatchewan.

https://aeroenergy.ca/2024/aero-energy-highlights-discovery-potential-on-the-high-grade-murmac-amp-sun-dog-uranium-projects

Project Summaries:

• Murmac Project: Spanning 25,607 acres, Murmac is home to historical uranium showings and significant potential for new discoveries. The area previously produced 70 million pounds of uranium oxide (U₃O₈) between 1950 and 1982.
• Sun Dog Project: Covering 48,443 acres, this project includes the former Gunnar Uranium Mine, a major contributor to global uranium production during the mid-20th century.

Drilling Highlights:

• A total of 16 drill holes were completed across 12 target areas, with 12 of the holes showing anomalous radioactivity.
• One hole revealed 8.4 meters of uranium mineralization at 0.3% U₃O₈, with a peak assay reaching 13.8% U₃O₈ just 64 meters below the surface.

https://preview.redd.it/ygum19eihevd1.jpg?width=769&format=pjpg&auto=webp&s=e2feca01d443e5d22dd3c7c7cc178b542651250a

Recent Exploration Work:

• VTEM Plus Survey: A helicopter-borne survey was conducted to map conductive, graphite-rich rock formations that are prime targets for large, basement-hosted uranium deposits. 
• Surface Radioactivity Discoveries: Two areas with strong surface radioactivity were identified with one target returning 60,793 counts-per-second (CPS) in a hematized zone and another recording 13,533 CPS in fault-hosted fractures.

Overall, these results confirm Aero’s exploration model, which focuses on basement-hosted uranium deposits similar to those found at the prominent Arrow and Triple R deposits in the Athabasca Basin.

With this, Aero Energy is now working with its partners to refine target priorities for a **winter 2024 drilling program**, aiming to build on these early successes and further unlock the potential of the Murmac and Sun Dog properties.

To fund this exploration, Aero announced yesterday that it is conducting a Non-Brokered Private Placement to raise $2.5M. 

https://aeroenergy.ca/2024/aero-energy-announces-2-5m-non-brokered-private-placement/

Posted on behalf of Aero Energy Ltd.