Azincourt Energy (TSXV: AAZ) this morning announced that it was forced to cut its winter 2021 drill program short as a result of warm weather at its East Preson uranium project in Northern Saskatchewan. The result, is that approximately half of the planned drill program was conducted as a result of safety precautions.
The drill program, which was planned to be a minimum of 10 holes and 2,500 metres of drilling, was cut short at just 1,195 metres completed in five holes. The program was forced to end early as a result of unseasonably warm weather during the first two weeks of March, which negatively impacted ice crossings over rivers and swamps in the region.
The meterage of the program as a result has been delayed until later this year. Options are currently being explored, with such options including a summer 2021 drill campaign, or an expanded winter 2021/2022 drill campaign. Both instances are subject to community consultations and permit approval.
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Core is currently being logged from the five holes that were completed, which will then be sent for analysis. Preliminary data from the cores suggest a thick graphitic package and associated structural pattern, which has been indicated as being ideal for uranium mineralization.
Azincourt Energy last traded at $0.10 on the TSX Venture.
Information for this briefing was found via Sedar and Azincourt Energy. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
