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.
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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.