VIDEO: Azincourt Energy Targeting Major Uranium Discovery Via 2023 Drill Program
posted on Dec 14, 2022 04:00PM
Targeting New Uranium DIscoveries In The Athabasca Basin
Azincourt Energy is developing critical alternative energy projects and currently exploring for uranium in Saskatchewan's Athabasca Basin, targeting Canada’s next uranium discovery. They are one step closer to that distinction with the announcement of a 2023 drill program at their flagship East Preston project.
Why is Azincourt pursuing this?
The world needs clean energy and the demand for Uranium is stronger than available supply, creating a stable price environment and economic reasoning to explore for it. Power capacity worldwide is increasing with ~50 reactors under construction and a reduction in overall mining production is pressure on available supply. This in turn provides confidence for companies looking to make a discovery. Where is the best place to make discovery? A place where there is a 40 year history of mining and production.Saskatchewan owns a rich history of Uranium production and up 10 to 100 times the world average Uranium grade that make economic discovery feasible.
This is where Azincourt is making it's play, planning an extensive drill program for the winter of 2022-2023. The program will consist of approximately 6,000 meters of drilling in 20+ diamond drill holes. The priority will be to continue to evaluate 2 alteration zones identified that contain elevated uranium in the last dril program.
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.
To date, 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.
Key components of the program are road access, camp construction and diamond drilling. Preparing the access road is expected to commence immediately, with camp construction commencing by early January. Drill mobilization to site is expected in mid-January and the program is expected to be complete by the first week in April.
More importantly they have 3rd party validation through institutional ownership up to 30%. This is an important indicator to understand a companies’ prospects. You need viable projects to attract funding, and in this case institutions have demonstrated a continued desire to support Azincourt's vision of making a major uranium discovery in Canada
Take a seat and have a listen to this great interview with Alex Klenman, President & CEO of Azincourt Energy (TSX.V: AAZ / OTC: AZURF) as he explains how they may be on the verge of a major discovery in Saskatchewan's prolific Athabasca Basin.