Announcement • Jun 11
Azincourt Energy Corp. Undertakes Diamond Drilling And Prospecting Program On Snegamook Uranium Deposit And Greater Harrier Uranium Project
Azincourt Energy Corp. had preparations underway for a late-summer diamond drilling and prospecting program at the Company's Harrier Uranium Project, located in the Central Mineral Belt of Labrador, Canada, which includes the Snegamook Uranium Deposit. Azincourt's Harrier Project covers 12,200 hectares over five distinct licence groups, representing one of the larger land positions in the Central Mineral Belt. The Harrier Project covers the Snegamook uranium deposit and straddles key uranium-bearing structural corridors directly adjacent to and on trend with Atha Energy's Moran Lake (9.6 Mlbs U3O8 and 11.8 Mlbs V2O5) and Anna Lake (4.9 Mlbs U3O8) deposits, and Paladin Energy's Michelin deposit (127.7 million lbs U3O8). The Harrier Project, with over a dozen known uranium mineralization zones and surface rock samples grading up to 7.48% U3O8 (and >1.0% U3O8 in 10 distinct zones), offers a rare combination of grade, scale, and geological continuity. Only 124 drill holes (19,851 metres total, over half of this on the former Snegamook uranium project area) have ever been completed across the combined property. The diamond drilling program currently being planned will consist of approximately 2,000 m of drilling in 6-10 drill holes to be completed on the Snegamook uranium deposit. The aim of the program is to establish an initial resource estimate based on this drilling and drill data from historical drilling completed by Silver Spruce Resources. Drill, camp, and helicopter services have all been contracted and it is anticipated that the program will commence in mid to late August. The priority for this summer's exploration program is diamond drilling at the Snegamook Uranium Deposit. Historical drilling completed in 2007 and 2008 identified uranium mineralization approximately 1.3 kilometres southeast of the Two Time Zone. Seventeen historical drill holes intersected a 20 to 50-metre-wide section of uranium-bearing, brecciated and altered monzodiorite characterized by moderate to strong chlorite, hematite, and carbonate alteration, which is interpreted to represent a geological setting similar to the Two Time Zone. As part of Azincourt's ongoing review of historical exploration data and available core, check sampling was completed during the summer 2025 prospecting program. A 10 cm check sample collected from drill hole SN-08-06 returned a grade of 2.71% U3O8. This sample came from an interval where historical sampling had indicated 0.97% U3O8 /0.5 m. This was the best mineralized interval from the historical drilling on the Snegamook uranium deposit. A 10 cm check sample collected from SN-08-18, which intersected the uranium showing to the southeast of the Snegamook uranium deposit, returned 0.35% U3O8. These samples confirm the quality of mineralization within the vicinity of the Snegamook uranium deposit and highlight the potential for higher grade lenses within the deposit itself. In 2008, a preliminary resource estimate for the Snegamook uranium deposit was prepared by Silver Spruce Resources, however it was never finalized in a report or filed. Work to be conducted as part of the preliminary 2026 drill program will include: Rehabilitating and examining historical drill core from the Snegamook Uranium Deposit at the Kanairiktok core storage facility; Engaging an independent Qualified Person to examine available core and consult on additional drilling in connection with potential future mineral resource work; Twinning selected historical drill holes to confirm mineralization; and Completing additional drilling to test the extent of known mineralization. Diamond drilling, historical core review, and the collection of additional confirmatory data are priorities for Azincourt as the Company evaluates the potential preparation of a maiden NI 43-101 compliant mineral resource estimate for the Snegamook Uranium Deposit. In addition to the planned diamond drilling at Snegamook, Azincourt intends to complete helicopter-supported reconnaissance, prospecting, and ground follow-up across priority areas of the greater Harrier Project. The program will build on the Company's 2025 field work and will focus on advancing known uranium occurrences and untested radiometric anomalies toward drill-ready status. Priority areas include the Brook Showing, where 2025 sampling returned 6.28% U3O8 and previous sampling returned 4.86% U3O8. Follow-up work is expected to include focused ground radiometric surveying, soil sampling, and trenching, where appropriate, to better define the extent of mineralization beneath surrounding cover. Additional areas of interest include uranium showings in the Boiteau Lake area, boulder and outcrop occurrences in the Anomaly 7 area, and the Minisinakwa claim group, where two boulder samples returned 1.02% and 1.79% U3O8 in magnetite-rich metasediment. The source of the mineralized boulders at Minisinakwa remains unknown and will be evaluated as part of future exploration planning. The 2025 field program confirmed that Harrier hosts multiple uranium occurrences that warrant systematic follow-up. A key objective of the 2026 program is to continue advancing these targets so that additional areas may be considered for drilling in future programs. Labrador's Central Mineral Belt is one of Canada's most underexplored yet highly prospective uranium regions. Known for its numerous uranium and base metal deposits and showings, the Central Mineral Belt has seen renewed interest due to growing global demand for secure, domestic uranium supply as countries aim to increase nuclear power capacity to meet net-zero emissions goals. The Central Mineral Belt hosts multiple large-scale uranium discoveries, including Paladin Energy's Michelin Uranium Project (127.7 million lbs U3O8), the Moran Lake C Deposit (historical resource of 9.6 Mlbs U3O8 and 11.8 Mlbs V2O5), and the Anna Lake Deposit (historical resource of 4.9 Mlbs U3O8). These known resources demonstrate the Belt's exceptional uranium endowment - but vast areas remain underexplored, with modern techniques only recently being applied across the region.
