URANIUM CITY — A new uranium exploration program is underway about 230 kilometres east of Fort Chipewyan as companies continue searching for new deposits within the Athabasca Basin, one of the world's richest uranium-producing regions.
Fortune Bay Corp. says drilling has begun at its Murmac uranium project near Uranium City, targeting high-grade uranium mineralization on the northern edge of the Athabasca Basin.
While the project is located in Saskatchewan, the Athabasca Basin extends into northeastern Alberta and has long been recognized as one of the world's premier uranium districts. Uranium City lies roughly 230 kilometres east of Fort Chipewyan, placing the exploration activity relatively close to Alberta's far north and the Regional Municipality of Wood Buffalo.
The drilling program will initially test 15 priority targets, with additional work planned later this year. In total, approximately 5,000 metres of drilling are expected across up to 25 targets at the Murmac and Strike uranium projects.
Company officials say the targets were selected using geological, geophysical and geochemical data, focusing on graphitic rock formations, structural features and other indicators commonly associated with high-grade uranium deposits.
The program is funded by Manhattan Uranium Discovery Corp. under an option agreement that could allow the company to acquire up to a 70 per cent interest in the projects.
Murmac has already produced encouraging results from previous exploration campaigns.
Fortune Bay reported a 2024 drill intercept grading 13.8 per cent uranium oxide over 0.1 metres within a broader mineralized interval, helping reinforce the project's potential for shallow, high-grade uranium discoveries.
The company says previous exploration has identified favourable host rocks, prospective structures, uranium mineralization and multiple targets warranting follow-up drilling.
The renewed exploration effort comes as uranium demand continues to attract investment amid growing interest in nuclear power generation, energy security and low-emission electricity production.
The Athabasca Basin hosts some of the highest-grade uranium deposits ever discovered and remains one of Canada's most active mineral exploration districts. Previous exploration at Murmac has included airborne surveys, gravity surveys, prospecting, radon-in-water sampling and drilling aimed at identifying new uranium resources.
