Drill Programs On East Preston And Hatchet Lake Projects
VANCOUVER - Azincourt Energy Corp reported on upcoming drill programs at its uranium exploration projects located in the Athabasca Basin, Saskatchewan, Canada. Preparations are well underway for a winter program at the East Preston Project. The company has entered the consultation phase of the permitting process and will continue to work with the Clearwater River Dene Nation (CRDN) and local communities to ensure opportunities for local businesses and employment are maximized.
The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs, the 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.
Drilling has confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.
The Company is planning an extensive drill program for winter of 2022-2023, to begin in December with road and camp preparations, as reported in a news release dated July 28th, 2022. The program will consist of approximately 6,000 meters of drilling in 20+ diamond drill holes, to commence in January. The priority will be to continue to evaluate the alteration zones and elevated uranium identified in the winter of 2022.
Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed with regards to the East Preston project. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Several members of the Clearwater River Dene Nation have been directly employed on site or to provide support and services to keep the camp and programs running.
The Hatchet Lake Project is a recent addition to the Azincourt portfolio. Hatchet Lake sits just outside the northeastern margin of the Athabasca Basin, situated along the underexplored northeast extension of the Western Wollaston Domain (WWD) within the Wollaston-Mudjatik Transition Zone (WMTZ). This highly prospective structural corridor hosts the majority of known high-grade uranium deposits and all of Canada’s operating uranium mines.
The drill program at Hatchet Lake will commence once permitting is received and once the consultation process with the local communities has been completed. Azincourt energy is committed to ensuring that all activities are conducted with the understanding and cooperation of the affected communities. The Company has been in contact with the Ya’thi Néné Land and Resource Office representing the Hatchet Lake First Nation and expects additional discussions to take place with them and other rights holders to ensure that concerns of the local communities are addressed. Azincourt looks forward to developing a close working relationship with the Hatchet Lake community.
The program will consist of ground reconnaissance to verify targets, ground geophysics (Horizontal Loop Electromagnetic HLEM) to verify conductor locations, and a helicopter supported diamond drill program. The drilling program is expected to consist of up to 1,500 meters in 8-10 diamond drill holes.
Azincourt is also pleased to report it has signed a letter of intent dated September 15, 2022, with an undisclosed party to evaluate an exploration stage uranium project in Northern Saskatchewan. This LOI grants the Company exclusive rights for 60 days from signing to evaluate the project and make an offer for acquisition. More information will be provided should a deal for the property be finalized. East Preston Project Location – Western Athabasca Basin, Saskatchewan, Canada.