AZINCOURT ENERGY CORP.
(“Azincourt” or the
“Company”) (TSX.V: AAZ, OTCQB: AZURF)
, is pleased
to announce that permits have been received for ongoing exploration
activities at the East Preston uranium project in the Athabasca
Basin, Saskatchewan, Canada. The Company has received work
authorization and permits from the Government of Saskatchewan to
allow diamond drilling and limited ground geophysics through to the
summer of 2026. This effectively provides access to the ground for
the next three winter field seasons.
Azincourt Energy recognizes that the granting of
these permits does not negate the rights of the local communities
for meaningful consultation as the project progresses. The company
continues to be engaged in regular meetings with the Clearwater
River Dene Nation and other rights holders to ensure that the
concerns of the local communities are addressed regarding the East
Preston project. A more in-depth engagement process will also be
commencing within the next month with the La Loche Metis Local #39.
The company endeavors to keep local stakeholders apprised of
ongoing plans, results, and priorities for the property. The
involvement of the local communities is essential for continued
advancement of the East Preston Project.
Azincourt looks forward to a continued close
working relationship with CRDN and other rights holders to ensure
that any potential impacts and concerns are addressed and that the
communities can benefit from activities in the area through support
of local business, employment opportunities, and sponsorship of
select community programs and initiatives. Local businesses are
engaged to provide services and supplies and members of the
Clearwater River Dene Nation and surrounding communities have been
directly employed on site or to provide support and services to
keep the camp and programs running.
“We are very excited to continue working at the
East Preston project, and the granting of work permits for three
years clears a critical component from the ongoing planning
process,” said VP, Exploration, Trevor Perkins. “This shows faith
by the government and local communities for us to continue our work
in the area in a safe and environmentally friendly manner, and to
continue engaging with local communities. We want to ensure that
any concerns raised are dealt with to the satisfaction of all
parties and that relevant information is shared to minimize impact
on members of the local communities who use this land,” continued
Winter 2024 Program
Planning is underway for a winter 2024 drill
program focusing on the alteration zone associated with the K- and
H-Zones. The exact size, scope, and budget of this program is still
to be determined and will be communicated as decisions are
finalized and confirmed.
East Preston Targets
The primary target area on the East Preston
Project is the conductive corridors from the A-Zone through to the
G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones
(K-H-Q Trend) (Figure 2). The selection of these trends is based on
a compilation of results from the 2018 through 2020 ground-based EM
and gravity surveys, property wide VTEM and magnetic surveys, and
the 2019 through 2022 drill programs, the 2020 HLEM survey
indicates multiple prospective conductors and structural complexity
along these corridors.
Drilling has confirmed that identified
geophysical conductors comprise structurally disrupted zones that
are host to accumulations of graphite, sulphides, and carbonates.
Hydrothermal alteration, relevant clays*, anomalous radioactivity,
and elevated uranium have now been demonstrated to exist within
these structurally disrupted conductor zones.
* Illite and kaolinite are both indicators of
hydrothermal alteration typically found within alteration halos of
unconformity uranium deposits. Dravite is a boron-rich clay which
is typically found within a larger clay package in close proximity
to uranium mineralization in the system. Both illite and dravite
have been identified as being significant vectors for the recent
Patterson Lake North discovery by F3 Uranium approximately 60 km to
the northwest of the East Preston project.
Figure 1: East Preston Project Location –
Western Athabasca Basin, Saskatchewan, Canada
Figure 2: Road access to the East Preston
Uranium Project, Western Athabasca Basin Saskatchewan
Figure 3: 2023-24 Target areas at the East
Preston Uranium Project. Primary target area of dravite and
kaolinite clay alteration highlighted in red.
About East Preston
Azincourt controls a majority 85% interest in
the 25,000+ hectare East Preston project as part of a joint venture
agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold.
Three prospective conductive, low magnetic signature corridors have
been discovered on the property. The three distinct corridors have
a total strike length of over 25 km, each with multiple EM
conductor trends identified. Ground prospecting and sampling work
completed to date has identified outcrop, soil, biogeochemical and
radon anomalies, which are key pathfinder elements for unconformity
uranium deposit discovery.
The East Preston Project has multiple long
linear conductors with flexural changes in orientation and offset
breaks in the vicinity of interpreted fault lineaments – classic
targets for basement-hosted unconformity uranium deposits. These
are not just simple basement conductors; they are clearly
upgraded/enhanced prospectively targets because of the structural
The targets are basement-hosted unconformity
related uranium deposits similar to NexGen’s Arrow deposit and
Cameco’s Eagle Point mine. East Preston is near the southern edge
of the western Athabasca Basin, where targets are in a near surface
environment without Athabasca sandstone cover – therefore they are
relatively shallow targets but can have great depth extent when
discovered. The project ground is located along a parallel
conductive trend between the PLS-Arrow trend and Cameco’s
Centennial deposit (Virgin River-Dufferin Lake trend).
The technical information in this news release
has been prepared in accordance with the Canadian regulatory
requirements set out in National Instrument 43-101 and reviewed on
behalf of the company by C. Trevor Perkins, P.Geo., Vice President,
Exploration of Azincourt Energy, and a Qualified Person as defined
by National Instrument 43-101.
About Azincourt Energy
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 joint venture East Preston uranium project
located in the Athabasca Basin, Saskatchewan, and the Big Hill
lithium project, located in southwestern Newfoundland.
ON BEHALF OF THE BOARD OF AZINCOURT
“Alex Klenman”Alex Klenman, President
Neither the TSX Venture Exchange nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release includes “forward-looking
statements”, including forecasts, estimates, expectations and
objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Azincourt. Investors are cautioned that any such
statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected
in the forward-looking statements. Such forward-looking information
represents management’s best judgment based on information
currently available. No forward-looking statement can be
guaranteed, and actual future results may vary materially.
For further information please
Alex Klenman, President & CEOTel:
Azincourt Energy Corp.1430 – 800 West Pender
StreetVancouver, BC V6C
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