The minimum expenditure commitment for the second year operations is $3m.
The initial program showed the prospectivity of the conductive/structural systems, identifying new 8.5km northern conductor system target and refining targets throughout the project area.
Azincourt president and CEO Ted O’Connor said the goal of the initial program was to confirm the geological setting necessary for economic uranium deposit discovery, which the joint venture achieved.
"The work planned will start immediately and is intended to advance all three project areas this summer with a combination of additional geophysics to refine targets. This will be followed immediately by drilling on land-based targets with additional drilling this coming winter," O’Connor added.
Currently, Linecutting and a DC Resistivity geophysical survey are underway on the N conductors and Broach Lake conductors.
Azincourt had entered into a four year option agreement with Fission 3.0 in 2013, to buy for up to a 50% stake in the PLN project.
Fission Uranium acquired PLN by staking in 2004 and added it to Fission 3.0 portfolio as part of an agreement with Alpha Minerals in 2013.
