Partner-funded Uranium Exploration in Saskatchewan receives update from Fortune Bay
Fortune Bay Corp., a gold exploration and development company, is making strategic moves in the uranium sector. The company is currently engaged in multiple near-term catalysts, positioning it to capitalise on the global uranium market upcycle driven by increasing nuclear energy demand, climate goals, and energy security considerations.
Gareth Garlick, P.Geo., Technical Director of Fortune Bay, has reviewed and approved the technical and scientific information in this news release.
In a significant development, Fortune Bay is conducting an airborne geophysical survey at The Woods Projects, located within 30 kilometers of the Athabasca Basin’s northern margin. This survey, funded by Neu Horizon Uranium Limited, is being carried out by Geotech Ltd. The VTEM™ Plus electromagnetic, magnetic, and radiometric survey covers 2,198 line-kilometres, aiming to explore underexplored high-potential uranium and rare earth element (REE) targets along the Grease River Shear Zone near the northern basin margin.
Meanwhile, a drill program at the Murmac Project, funded by Aero Energy Limited, is scheduled to start in mid-September 2025. This project, like The Woods Projects, lies on the northern margin of the Athabasca Basin, an area known for some of the world's richest uranium deposits. The partner-funded approach allows Fortune Bay to gain significant discovery exposure at no cost, while generating operator fees to strengthen its financial position as it advances its core gold projects.
The Woods Projects cover approximately 40,000 hectares and are notable for limited historical drilling. This presents a substantial opportunity for discovery of unconformity-related basement-hosted uranium, magmatic uranium, and REE deposits, supported by high lake sediment uranium anomalies.
The drilling at Murmac Project will test selected high-priority uranium targets along graphitic conductors within the Armbruster Corridor. The historical uranium and REE occurrences shown in Figure 2 are derived from the Saskatchewan Mineral Deposits Index, while the lake sediment uranium results shown in Figure 2 are from the Saskatchewan Mineral Assessment Database (SMAD).
However, it's important to note that the historical uranium results in Figure 2 are not verified and may differ from future confirmation work and exploration. A field program is planned for early September at The Woods Projects to verify historical uranium occurrences and collect data.
Fortune Bay Corp. disclaims any intention or obligation to update or revise any forward-looking information, except as required by law. Risks, uncertainties, and other factors involved with forward-looking information could cause actual results to differ materially from those expressed or implied by such statements.
Overall, these strategic partnerships and active exploration programs reflect Fortune Bay's commitment to advancing high-potential assets with a strategy focused on discovery, resource growth, and early-stage development.
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