Xcite Uranium Inc. (CSE: XRI) has launched its diamond drilling program at the Lorado Project, located near Uranium City in Saskatchewan. The program targets 1,200 metres of core drilling across three separate holes, each drilled from a distinct collar location, and is designed to test uranium mineralization identified through historical work and field campaigns conducted during 2025–2026.
The project sits 20 km south of Uranium City and hosts near-surface uranium mineralization, as well as the historic Lorado mine, which was previously in production. The project is 100% owned by Eagle Plains Resources (TSX-V: EPL), which in December 2023 granted Xcite the exclusive right to earn up to an 80% interest in six Saskatchewan mineral properties, including Lorado. The overall agreement covers 54 occurrences listed in the Saskatchewan Mineral Deposit Index and five historically producing uranium mines. To earn that stake, Xcite must complete C$3.2 million in exploration expenditures.
The approved 2026 budget for the Lorado Project alone totals approximately C$1.1 million: C$225,000 allocated to field work, which has already been completed, and C$875,000 directed toward drilling. Drilling operations have been contracted to Apex Drilling, with crews based out of Uranium City itself. The 2026 campaign aims to test two distinct styles of mineralization: structurally controlled Beaverlodge-type and basement-hosted unconformity-style.
Target selection is far from arbitrary. Both historical and recent geophysical surveys have outlined approximately 8.2 km of linear electromagnetic anomalies trending northeast, associated with magnetic transition corridors and aligned with the regional ABC and Black Bay fault structures. Coincident breaks in electromagnetic and magnetic responses indicate conductivity discontinuities and cross-cutting faulting. Adding further weight to the model, RadonEx survey results identified high-radon clusters coinciding with disrupted conductors, some of which overlap soil geochemical anomalies. The drill holes are targeting precisely these convergence zones.
The start of drilling at Lorado comes at a particularly active time for the Eagle Plains–Xcite partnership in Saskatchewan. Just days ago, Eagle Plains reported anomalous radioactivity results from the first holes at the Don Lake Project, another property included in the same option agreement. Saskatchewan continues to be one of Canada’s most dynamic uranium exploration jurisdictions, with operators ramping up drilling programs in response to growing global demand for nuclear fuel. Results from Lorado, expected in the coming weeks, will provide tangible data on the continuity and extent of mineralization at depth.
