Azincourt Energy (AAZ.V) is a Canadian-based resource exploration and development company focused on the alternative fuels/alternative energy sector. Their core projects are in the clean energy space, with uranium exploration projects in the prolific Athabasca Basin, Saskatchewan, Canada, and lithium/uranium projects on the Picotani Plateau, Peru.
Today, the Company announced that mobilization is set to begin later this week for the 2024 winter drill program at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada.
The Company is undertaking a drill program for the winter of 2024, consisting of up to 1,500 meters of drilling in a maximum of five (5) diamond drill holes. The priority will be to follow up on the clay alteration zone with elevated uranium that was identified in the winter of 2023 with a focus on the area of transition between the K and H Zones.
Drilling in 2023 identified an illite clay alteration halo extending from the top of Zone K to Zone H as far as drill hole EP0053. Within this illite alteration zone, dravite and kaolinite are present in the north end of Zone H. Illite and kaolinite are both indicators of hydrothermal alteration typically found within alteration halos of unconformity uranium deposits. Dravite is a boron-rich clay which is found within the larger clay package proximal to uranium mineralization in the hydrothermal system.
Both illite and dravite have been identified as being significant vectors for the 2022 JR Zone discovery by F3 Uranium approximately 60 km to the northwest of the East Preston project.
Drill and crew mobilization is underway with drilling expected to commence by the last week of March. Drilling is anticipated to be complete by mid-April. The planned budget for this program is $1.5-2 Million.
“Following up the clay alteration in the K- and H- Zones is a high priority”, commented VP Exploration Trevor Perkins. “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,” continued Mr. Perkins.
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