Winter Drill Program Begins at Azincourt Energy’s (TSXV:AAZ) East Preston Uranium Project

Source: Azincourt Energy Azincourt Energy (TSXV:AAZ) has announced the mobilization…

Source: Azincourt Energy

Azincourt Energy (TSXV:AAZ) has announced the mobilization for its winter drill program at the East Preston uranium project located in the Athabasca Basin, Saskatchewan, Canada.

VP Exploration, Trevor Perkins, commented in a press release: “Following up the clay alteration in the K- and H- Zones is a high priority. This alteration is what would be expected where a uranium deposit is present. This area between the K- and H zones is a zone we need to drill test further, and all indications are that we are vectoring in on something. A significant number of deposits in the Athabasca Basin have been found by identifying and chasing these types of alteration patterns.”

The program will involve up to 1,500 meters of drilling in a maximum of five diamond drill holes. The primary focus will be on the area between the K and H Zones, where clay alteration with elevated uranium was identified in 2023. This area is considered a high priority due to its resemblance to alteration zones typically found near uranium deposits.

The program will utilize a helicopter-supported drill rig and a local contractor camp to minimize environmental impact. Drilling is expected to begin by the end of March and be completed by mid-April. The budget for the program is estimated between $1.5 million and $2 million.

The main target areas on the East Preston project are two conductive corridors: the A-G Trend and the K-H-Q Trend. These selections are based on various geophysical surveys and drilling programs conducted between 2018 and 2022.

Previous drilling confirmed that these conductors are zones with structural disruptions containing graphite, sulphides, and carbonates. Additionally, these zones exhibit signs of hydrothermal alteration, anomalous radioactivity, and elevated uranium levels.

Azincourt has also obtained permits for exploration activities at East Preston until summer 2026. The company acknowledges the importance of consulting with local communities and aims to maintain a close working relationship with relevant groups. They emphasize addressing potential impacts and concerns while ensuring the communities benefit through local business involvement, employment opportunities, and community program support.

Local businesses have already been engaged to provide services and supplies, and members of the Clearwater River Dene Nation and surrounding communities have been employed on site. Azincourt views community involvement as crucial for the project’s advancement.

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Source: Azincourt Energy

Azincourt holds a majority 86.1% interest in the East Preston project, which covers over 20,000 hectares. The property features three prospective conductive corridors with a total length exceeding 25 kilometers. Ground exploration identified anomalies in outcrops, soil, biogeochemical samples, and radon levels, all considered significant indicators for unconformity uranium deposits.

The East Preston project exhibits characteristics similar to known uranium deposits in the region, including long linear conductors and structural complexities. The project ground is situated along a trend parallel to established uranium deposits.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I’ve contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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