Azincourt Energy (TSXV: AAZ; OTCQB: AZURF) has completed data acquisition and compilation of historic data available for its recently acquired Snegamook uranium project in Newfoundland and Labrador. The Snegamook project contains known uranium mineralization and is strategically positioned near several major uranium discoveries, including Two Time, Moran, Kitts, and Jacques Lake.
Azincourt has been a uranium explorer for over a decade and is currently active at both its Snegamook advanced exploration project in Labrador and its majority-owned joint venture East Preston uranium project in the Athabasca Basin in Saskatchewan.
Azincourt aims to verify and expand historical mineralization through a new drill program, with the intention of re-evaluating the Snegamook deposit and establishing an initial resource estimate.
Company officials have stated historical drilling by Silver Spruce Resources at the Snegamook project (2006-2008) indicated multiple lenses of uranium mineralization over a 300-metre strike length and to a vertical depth of 200 metres, with grades ranging from 225 to 771 ppm U3O8. Some zones contain higher-grade uranium concentrations (e.g., 0.11% U3O8 over three metres). The former company completed a preliminary non-NI 43-101 compliant resource estimate in 2008 but it never officially filed.
Trevor Perkins, the company’s vice president of exploration stated, "Being able to get our hands on a uranium deposit that has not seen any attention in over 15 years is exciting. We are starting from a good position with regards to an understanding of what we may have and are excited to see if we can establish an initial resource estimate at Snegamook. The chance to improve a deposit within an emerging uranium camp is a significant opportunity for Azincourt.”
Azincourt has made every effort to acquire all available historical data existing for the project. Geophysical survey results for 2006 and diamond drilling results for 2007 were available through the online assessment report database from the Government of Newfoundland and Labrador. The company was also able to acquire surveying data from Silver Spruce Resources, which included the 2008 diamond drilling data which was never filed for assessment. The digital geophysical data is not available however, the drilling data appears to be approximately 90% complete. The current dataset provides a good base on which to build.
Despite a recent increase in activity and discoveries in the Central Mineral Belt, the p project area remains relatively underexplored. Azincourt is currently planning a drill program to confirm and expand the historical mineralization.
More information is posted on www.AzincourtEnergy.com.
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