Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Drill Results 'Enhance the Prospectivity' of Athabasca Uranium Project
News Update

Share on Stocktwits


Follow-up drilling by Skyharbour Resources' partner Azincourt Energy at the East Preston property is planned for summer/fall 2020.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB) announced in a news release that its partner Azincourt Energy Corp. (AAZ:TSX.V; AZURF:OTC) released winter 2020 phase 2 drill results from the East Preston uranium project in Saskatchewan's western Athabasca Basin and now is planning a follow-up work program.

During phase 2, Azincourt drilled nine diamond drill holes over 2,431 meters. It drilled three holes in each of three zones, A, B and Swoosh, over a total 7-by-2 kilometer area.

The results showed "promising basement lithologies and graphitic structures intersected along with associated anomalous rare earth element (REE) mineralization and favorable alteration," the release noted. The setting of the REEs is similar to that seen at the Wheeler River project in the eastern Athabasca Basin.

East Preston continues to show it has the required environment for the existence of uranium mineralization, according to the company.

"The winter results, combined with the number and strike extent of the existing, untested prospective conductor corridor system target areas, ensure that the East Preston project is advancing as we continue to vector towards our discovery goal," Ted O'Connor, the project's director and technical adviser, said in the release.

Many "graphitic conductive corridor trends" on the property remain untested, according to the news release, and the A and B zones warrant additional drilling. Thus, Azincourt is currently planning a summer 2020 work program.

It will include helicopter-borne ground geophysical surveys including horizontal loop electromagnetic and/or ground gravity method to more precisely locate, refine and prioritize for future drilling conductive corridors in several of those untested areas. When the surveys are carried out will depend on COVID-19 travel restrictions, though Azincourt is targeting late summer.

"The presence of Rare Earth Element mineralization, similar to Wheeler River, adds to the growing prospectivity of the project. This data is a positive development that demonstrates East Preston continues to reveal it has the necessary environment for uranium deposition," said Azincourt president and CEO Alex Klenman.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Skyharbour Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Azincourt Energy. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyharbour Resources and Azincourt Energy, companies mentioned in this article.

Want to read more about Uranium investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe