Earlier this week Azincourt Uranium and our JV partner Fission Uranium released the initial results from our 2013 summer program at Patterson Lake North (PLN). The goal of this program was to identify and prioritize drill targets for the 2014 winter drill program.
I am very pleased to report that our efforts were successful. The VTEM Max survey identified new north-south trending conductive basement package in northern PLN. This is significant because it is an indication that the same system that hosts the Shea Creek uranium deposit, 27 km to the north, could extend onto PLN. The recently discovered high-grade uranium mineralization found at Fission Uranium’s PLS property, located 5.7 km to the south, also lies within this structural corridor.
Fission is the operator at PLN, and has had great success at the neighboring PLS project which to date has discovered four mineralized zones beginning only 60 metres below the surface.
There is still a lot of work to be done. The Fission team decided to immediately follow up on the initial findings from the VTEM Max survey and have already begun ground geophysical surveys to help further improve drill target quality. We are also considering radon sampling of water and lake bottom sediments for lakes located near basement conductors in the southern portion of the property once the lakes freeze over. These are techniques that were used by Fission at PLS where they proved highly successful for prioritizing drill targets that lead to the high-grade uranium discovery.
Azincourt and Fission have planned a winter drill program consisting of approximately 2500-3000 m (8-10 drill holes), which is set to begin in January 2014. Results speak for themselves, so it’s fair to say that the Fission technical team is among the most skilled in the basin and I am looking forward to what we find next at Patterson Lake North.
Ted O’Connor, CEO Azincourt Uranium