Xcite Uranium Inc. (CSE: XRI) kicked off a diamond drilling program on October 5, 2026, at the Black Bay mine in Saskatchewan, Canada. The program consists of six drill holes totalling 1,300 metres, with an approved budget of approximately C$1.1 million — C$975,000 allocated to drilling and C$125,000 to field work already completed.
To speed up execution, the company brought in a second drill rig operated by Base Diamond Drilling, with crews based in Uranium City, roughly 20 kilometres north of the site. The six holes will be drilled from five separate pads and are designed to test geophysical conductors identified along a 4-kilometre northwest-trending linear corridor, where electromagnetic conductors coincide with low-to-transitional magnetic contacts. Surface trenching results from 2026 had already returned grades of up to 6.51% U₃O₈ over 0.3 metres, with scintillometer readings exceeding 65,600 cps.
The Black Bay project covers 1,114 hectares and overlaps seven occurrences registered in the Saskatchewan Mineral Deposit Index. Historically, between 1954 and 1958, the mine produced approximately 1,375 tonnes at an average grade of 0.17% U₃O₈. Core samples from previous drilling in the Bluegrass ‘B’ zone show significantly higher concentrations: 9.64% and 16.74% U₃O₈. The property is prospective for both Beaverlodge-style basement-hosted mineralisation and unconformity-related mineralisation, the latter characteristic of major deposits in the Athabasca Basin.
All operational management has been entrusted to TerraLogic Exploration Inc. The 2026 field program included prospecting, rock and soil geochemical sampling, structural mapping, and scintillometric surveying, with a total of 32 rock samples collected. On the geophysical side, the program integrated 4 km² of drone-based lidar surveying and the modelling of 745 line-kilometres of VTEM Plus data acquired by Geotech in 2025 and interpreted by Condor Consulting.
The Black Bay project is governed by an option agreement signed in December 2023 between Eagle Plains Resources Ltd., the 100% owner of the property, and Xcite Uranium, which was granted the exclusive right to earn up to an 80% interest. The drilling campaign now underway is the most tangible step Xcite has taken under that agreement. Should the six holes confirm depth continuity of the mineralisation already identified at surface, Black Bay could prove to be one of the most compelling uranium targets in western Canada in the years ahead.
