Fortune Bay announces drilling results from Murmac Uranium Project
August 23, 2022 | By Monica Ferguson
Fortune Bay announced the initial drilling results from its maiden exploration drilling program on the 100 per cent owned Murmac Uranium Project, located in northern Saskatchewan.
The drilling program, which tested regional targets, identified elevated radioactivity in multiple drill holes within geological settings for high-grade, unconformity-related basement-hosted deposits typical of the Athabasca Basin.
Results included near-surface intersections of elevated radioactivity cps, between 20 and 150 metres below surface, within prospective graphitic units associated with favourable structure and hydrothermal alteration.
“Nuclear energy is set to play a critical role in the drive toward a clean energy future, and now is the time to be exploring for uranium resources to meet the demand from the growing number of nuclear reactors globally,” said Dale Verran, CEO, Fortune Bay. “The Company’s uranium projects present compelling exploration opportunities, with the right geological ingredients for Athabasca Basin basement-hosted uranium deposits, and proximity to local infrastructure within a historical uranium mining district in Saskatchewan.”