Azincourt Energy (TSXV:AAZ,OTCQB:AZURF,FWB:A0U2) CEO Alex Klenman said the company is about to begin its largest drill program to date with up to 7,000 meters of targets.
The company has already prepared the winter road to allow access for a 2022 exploration program at the East Preston uranium project in the Western Athabasca Basin.
“We’ve worked diligently over the last four years at our East Preston uranium project,” Klenman said. “We are still pre-discovery, with enormous institutional support. We have at least C$12 million in the bank after we raised close to C$15 million in the last year. All is primarily from institutional investors and funds, which typically don’t normally buy into pre-discovery companies. So it tells you two things: They believe in the sector and where it’s going, and the validity of our projects, particularly Preston, which is our main focus.”
Before the end of 2021, the company announced that its winter road and camp access are nearing completion, with major camp equipment and materials expected on site. The 73 kilometer road allows access beyond the Mirror River, approximately 55 kilometers along the route to camp.
“We’ve just finished about 70 kilometers of road prep to get into these drill targets, and we’re going to be running two rigs. Drilling will begin in January and we’ll be drilling constantly through them. Right now we’re focused on step one, which is to get the drills in the ground and begin the process,” Klenman added.
“We’re hopeful that we’re going to make a discovery sooner rather than later. And that’s a great position to be in. If you invest in and explore a pre-discovery and they’ve got potential to deliver, that’s a good place to be.”
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