Azincourt Energy Hits Radioactive Zones in First Snegamook Holes as Uranium Term Prices Reach Nominal Record
Pune, India, October 22nd, 2026, FinanceWire
Disseminated on behalf of Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) (FSE: A0U0)
Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) (FSE: A0U0) said the first two holes of its 2026 drill program at the Snegamook uranium deposit in Labrador intersected zones of elevated radioactivity. The company is working to confirm historical drilling at the site and assess a possible first resource estimate.
The results, released Oct. 14, come as the long-term uranium contract price trades at a record high in nominal terms.
Hole SN0045 twinned historical hole SN-08-06. It cut multiple radioactive zones over a 30 metre interval, the company said. The best result was 0.07% eU3O8 over 0.6 metres, including 0.14% eU3O8 over 0.2 metres. Hole SN0046, drilled from the same pad at a steeper angle, cut a 25 metre radioactive zone. Its best result was 0.05% eU3O8 over 0.5 metres.
Historical sampling of SN-08-06 had returned 0.97% U3O8 over 0.5 metres. The new radiometric grades are lower than that historical interval.
“This program has confirmed the mineralizing system and setting of the Snegamook uranium deposit,” said Trevor Perkins, Azincourt’s Vice President of Exploration. He added that the results “demonstrate the small footprint and variability of the high-grade veins within this style of deposit.”
CEO Mark Tommasi said the holes provide useful information for verifying historical drilling. “Our focus is on building a reliable geological dataset through drilling and historical core review to guide the next stages of exploration and assess the potential for a future mineral resource estimate,” he said.
The grades are preliminary radiometric estimates. Samples have been sent to ACTLabs in Ancaster, Ontario. Assay results are expected early next year.
Azincourt now plans about 2,000 metres of drilling in 6 to 7 holes. The company had earlier completed a prospecting program at its Harrier Project, which hosts Snegamook.
Historical drilling in 2007 and 2008 outlined a 20 to 50 metre-wide zone of uranium-bearing rock at Snegamook. A preliminary resource estimate was prepared in 2008 but was never finalized or filed. There is no current or historical mineral resource for the deposit.
In 2025, a 10 cm check sample from hole SN-08-06 returned 2.71% U3O8. In January, the company reported that a 2025 sample from the Brook Showing on the Harrier Project returned 6.28% U3O8. Both were selective samples and may not reflect overall grade.
Harrier sits in Labrador’s Central Mineral Belt. ATHA Energy Corp. (TSXV: SASK) (OTCQX: SASKF) holds the historical Moran Lake C and Anna Lake deposits in the belt. Paladin Energy Ltd (ASX: PDN) (TSX: PDN) (OTCQX: PALAF) holds the Michelin project there.
Record contract prices
The long-term uranium price reached $96 per pound in late summer, topping the $95 high set in 2007. That is a record in nominal terms, though not after adjusting for inflation. Cameco’s month-end data put it at $96.50 in August and September. Spot uranium traded near $90 in mid-October. Utilities placed about 116 million pounds under long-term contracts in 2025, according to UxC data cited by Cameco Corp. (NYSE: CCJ) (TSX: CCO). Cameco said that volume was below the replacement rate. On its July 31 earnings call, Cameco said customers continue to focus on security of supply.
Supply pressure in Kazakhstan
Kazatomprom, which produced about 20% of the world’s primary uranium in 2025, said in August its new sulfuric acid plant would be delayed six to 12 months. The contractor had found possible fossils during earthworks at the site. The company said it would assess the impact against its existing acid sources.
In September, Russia required government approval for sulfuric acid exports through year-end. Trade data show Russia supplied 93.6% of Kazakhstan’s acid imports in 2023. Kazatomprom said the rule is not a ban and that Russian suppliers plan to honor 2026 contracts. It said it does not expect a material effect on its 2026 production guidance.
Producers report gains
Paladin said in August its 75% owned Langer Heinrich Mine in Namibia produced 4.82 million pounds in fiscal 2026, at the upper end of guidance. Sales revenue rose 71% to 304.3 million U.S. dollars. ATHA closed about 63 million Canadian dollars in financing in February to advance its Angilak project in Nunavut. Azincourt also holds an option on the Sylvia Lake uranium project in Labrador. It also owns the East Preston project in Saskatchewan’s Athabasca Basin.
About Azincourt Energy Corp.
Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its East Preston uranium project located in the Athabasca Basin, Saskatchewan, and its Snegamook and Harrier uranium projects, located in the Central Mineral Belt of Labrador. For more information, visit www.azincourtenergy.com
Other uranium names investors follow include Uranium Energy Corp. (NYSE American: UEC), Energy Fuels Inc. (NYSE American: UUUU), Centrus Energy Corp. (NYSE: LEU) and Denison Mines Corp. (NYSE American: DNN). Together with Cameco, these companies span mining, milling, enrichment, and development across North America.
Disclaimer
USA Stock Report is a financial media publication operated by Akchirpy Media LLP. We are not a registered broker-dealer, investment adviser, or financial analyst. Nothing in this article is a recommendation to buy, sell, or hold any security. This article about Azincourt Energy Corp. (TSXV: AAZ) (OTCQB: AZURF) (FSE: A0U0) is a paid advertisement. Pursuant to Section 17(b) of the Securities Act of 1933, USA Stock Report discloses that it has been compensated five thousand USD by a third party for ticker tag services on AZURF for 10/22/2026. This compensation is a major conflict of interest. Readers should view this article as advertising and not as independent analysis. USA Stock Report, Akchirpy Media LLP, and their owners and employees do not hold shares of Azincourt Energy Corp. and will not buy or sell its shares during the coverage period. Information about Azincourt is drawn from the company’s public news releases dated January 21, August 4, September 2, September 16, October 2, and October 14, 2026. Market and industry information is drawn from public disclosures by Cameco, Kazatomprom, Paladin Energy and ATHA Energy, and from public market and trade data. We have not independently verified this information. Companies other than Azincourt are named for context only and have no affiliation with Azincourt. UsaStockReport has not received compensation from Cameco Corp., Uranium Energy Corp., Energy Fuels Inc., Centrus Energy Corp., Denison Mines Corp., Paladin Energy Ltd or ATHA Energy Corp. These companies are mentioned for informational and industry context only and have no affiliation with Azincourt Energy Corp. or this article. Radiometric equivalent grades (eU3O8) are preliminary and must be confirmed by laboratory assay. Reported intervals are drill hole lengths, not true thicknesses. Selective and surface samples are not representative of overall grade. Historical assay results are not directly comparable to radiometric estimates. There is no current mineral resource at the Snegamook deposit. Historical results and third-party resource figures for nearby deposits have not been verified by the company and may not reflect mineralization at the Harrier Project. This article contains forward-looking statements, including statements about planned drilling, assay results, and a possible future mineral resource estimate. These statements involve risks and uncertainties. Actual results may differ materially. We undertake no obligation to update this article. Shares of early-stage exploration companies are highly speculative and can be volatile and illiquid. Investors may lose their entire investment. Always do your own research and consult a licensed financial professional before investing. For guidance on evaluating paid stock promotions, visit the SEC’s investor education site at www.investor.gov.
Sources
https://finance.yahoo.com/energy/articles/azincourt-energy-reports-initial-results-070500942.html
Cameco Q2 2026 results news release
https://www.cameco.com/media/news/cameco-reports-2026-second-quarter-results
Cameco Q2 2026 earnings call transcript
https://www.cameco.com/sites/default/files/documents/CCO-transcript-2026-Q2-call.pdf
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