Pennybuster
3 years ago
Azincourt Energy Reports Elevated Radioactivity Within Significant Alteration Zone, at the East Preston Uranium Project
Drilling Update Uranium Athabasca Basin
TSX.V: AAZ
http://www.azincourtenergy.com
Mr. Alex Klenman reports:
Alteration zone tracked over 800 meters in the K-Zone
Extensive hydrothermal hematite alteration over 100m thick in hole EP-035
VANCOUVER, British Columbia, March 01, 2022 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF), is pleased to provide an update on the ongoing 2022 exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
Drilling at the East Preston Project commenced on January 24th, and to date, 3,208 meters has been completed in 13 drill holes. Despite a period of extreme cold weather and its associated problems, two drill rigs are operational on the project. Ten drill holes are complete, one was abandoned, and two are in progress on the G- and K- Zones. Initial progress was reported in a previous press release dated February 14th, 2022.
Drilling continues on the northeast trending G-Zone (Figure 3) where eight holes have been completed and one hole is in progress. Extensive alteration and evidence of east-west cross-cutting structures have been intersected along the southern portion of the zone. EP0030 shows the best alteration on the G-Zone, with an extensive interval of hydrothermal hematite alteration and significant evidence for a steep east-west fault cross-cutting the main northeast trending structure and graphitic lithologies. Additional drilling will be undertaken to evaluate the significance of this alteration and associated cross cutting structure.
On the north-south trending K-Zone (Figure 2), two holes have been completed and one is in progress, with one hole lost in a sand filled fault zone at the north end of the zone. Drilling on the K-Zone has intersected extensive hydrothermal hematite alteration in all holes, indicating this alteration zone is at least 800 meters long. Drill hole EP0035 intersected an extensive zone of hydrothermal hematite more than 100 meters thick. Within this zone localized elevated radioactivity identified from both hand-held scintillometers and a downhole gamma probe was also encountered. Analysis of samples from this zone will be sent to the lab to evaluate the significance of the elevated radioactivity in this area. Additional drilling is underway to evaluate the significance of this alteration zone and to follow-up the elevated radioactivity identified.
The Company considers the drilling results to date to be significant, as major uranium discoveries in the Athabasca Basin such as McArthur River, Key Lake, and Millennium were primarily the result of drill testing of strong alteration zones related to conductor features. The identification of strong alteration zones is an important and meaningful step in locating key areas along the conductor trends where more attention is required.
As a consequence of the promising developments many holes have been drilled considerably deeper (to get through alteration and structure intersected) than initially planned and additional holes are being drilled to follow up key results. This means that while the planned overall meterage is expected to be achieved, fewer total holes may be completed and not all zones targeted for this program may be evaluated.
“We are very excited by the results coming in so far” said VP, Exploration, Trevor Perkins. “Both the G- and K-Zones are responding incredibly well, and the team is very excited by what they are seeing in the core. The results show that there is still a good deal of work to be completed in these areas and I can’t wait to see what the follow-up drilling reveals,” continued Mr. Perkins.
“Finding this broad zone of strong alteration is a significant development,” said president and CEO, Alex Klenman. “Alteration features are a crucial guide to locating uranium mineralization. Given what we know about alteration zones and their relationship to some very well-known discoveries, finding this at East Preston is certainly an encouraging development. We will continue to focus on the K-Zone for the time being to get a better idea of the extent of the alteration and the type and level of mineralization present,” continued Mr. Klenman.
The first shipment of core samples from the current drill program is scheduled to be delivered later this week to the SRC Geoanalytical Lab in Saskatoon. The Company expects to receive full suite assay results in early April. Results will be reported once received, reviewed, and verified.
About the Winter 2021-2022 Drill Program
TerraLogic Exploration Inc. is executing the winter 2022 diamond drilling program under the guidance and supervision of Azincourt’s Vice President, Exploration, Trevor Perkins, P.Geo, and Jarrod Brown, M.Sc., P.Geo, Chief Geologist and Project Manager with TerraLogic Exploration. The program is planned for approximately 6,000m of drilling in 30-35 drill holes. Drilling is focused on the A-G and K-H-Q trends, after having commenced in the G-Zone where the 2021 drill program ended. The program continues to evaluate the G-Zone and the K-H-Q trend (Figure 2).
East Preston Targets
The primary target area for the 2022 program continues to be 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) (Figures 1 and 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 2021 drill programs, the 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.
The 2019-2021 drilling programs on the A-G Trend confirmed that geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Anomalous radioactivity has been demonstrated to exist within these structurally disrupted conductor zones. The 2022 drilling program will target similar structurally disrupted zones prioritized on the presence and strength of corresponding electromagnetic, magnetic and gravity geophysical anomalies.
Permitting and Community Engagement
Permits are in place to complete all the planned work through the winter of 2022. Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed. 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. Several members of the Clearwater River Dene Nation are directly employed on site or provide support and services to keep the camp and program running.
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
Figure 2: 2022 Drill progress and Target areas at the East Preston Uranium Project
Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada
About East Preston
Azincourt controls a majority >70% 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 prospectivity targets because of the structural complexity.
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).
Debt Settlement Revision
The Company also announces that it has revised the terms of the agreement with an arms-length creditor, announced on January 13, 2022, in which the Company proposed to settle outstanding indebtedness totaling $250,000. The Company will now settle the indebtedness through the issuance of 4,166,666 common shares at a deemed price of $0.06 per share. The indebtedness relates to professional services rendered to the Company. The shares issued in connection with the settlement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Qualified Person
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 Corp.
Azincourt Energy 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 in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
Pennybuster
3 years ago
Azincourt Partners with FOBI to Utilize AI and Data Analytics at the East Preston Uranium Project
VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce that it has entered into a data consulting agreement with FOBI AI Inc. (TSX.V: FOBI), a global leader in providing real-time data analytics through artificial intelligence (“AI”) to drive operational efficiencies and profitability.
FOBI will assist Azincourt in the development of an operational intelligence platform to help transform legacy and in some cases antiquated but commonly used practices in the mining and exploration sector. FOBI will introduce the use of artificial intelligence applications and data mining techniques that analyze vast amounts of aggregated data, detecting patterns and consistencies that may not be readily apparent otherwise, and can potentially provide more efficient road maps to allow the Company to generate more impactful drill holes in less time, and with less cost.
The 1-year, $250,000 contract with FOBI will allow Azincourt to benefit from FOBI’s experience developing and deploying real-time applications and operational solutions across various data applications at scale. FOBI will architect and deploy it’s established AI and operational applications in an effort to support Azincourt’s goal of making discovery and delineating a resource at its East Preston uranium project.
“This partnership with FOBI AI gives Azincourt the opportunity to apply leading edge technologies to our efforts at East Preston,” said CEO, Alex Klenman. “I think it’s incumbent upon us to explore new exploration techniques that can help guide us towards significant discoveries. Artificial Intelligence, machine learning algorithms and rapid big data analysis clearly have a place in our future and we’re eager to apply these new techniques to uranium exploration. There are multiple applications we can utilize here, and I’m excited to begin working with FOBI and their innovative team. I think this is a tremendous opportunity to Azincourt,” continued Mr. Klenman
“I see the exploration and mining sector as a very lucrative opportunity for FOBI,” said Rob Anson, CEO of FOBI. “This agreement with Azincourt will allow FOBI to demonstrate the power of our real-time operational data applications and real time analytics and insights to provide Azincourt with leading edge technology, strategies, and necessary applications to streamline and automate manual current applications. FOBI will continue to drive new innovation and best practices to improve the industries existing antiquated operational and data systems. The powerful combination of FOBI’s artificial intelligence and real time big data applications will be key to enabling Azincourt to make faster, smarter, data driven decisions which ultimate will be key to driving further success in regard to the Company’s operational efficiencies and performance,” continued Mr. Anson.
About FOBI
FOBI is a cutting-edge data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. FOBI’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premises platforms creating highly scalable solutions for our global clients. FOBI partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries. For more information, please visit www.fobi.ai.
About Azincourt Energy Corp.
Azincourt Energy 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 majority-owned East Preston uranium project in the western Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
http://www.azincourtenergy.com
Pennybuster
3 years ago
Azincourt Energy Announces Fully Subscribed C$7.6 Million Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ), is pleased to announce a fully-subscribed non-brokered private placement (the “Offering”) for aggregate gross proceeds to the Company of approximately C$7.6 million from the sale of the following:
units of the Company (the “Units”) at a price of C$0.07 per Unit;
flow-through units of the Company (the “FT Units”) at a price of C$0.075 per FT Unit; and
FT Units to be sold to charitable buyers (the “Charity FT Units”) at a price of C$0.093 per Charity FT Unit.
Red Cloud Securities Inc. is acting as a finder in connection with the Offering and the majority of the financing is being placed with institutional investors.
Each Unit will be comprised of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each, a “Warrant”). Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.10 for a period of 36 months following the closing date of the Offering.
The gross proceeds from the issuance of the FT Shares will be used for “Canadian Exploration Expenses” (within the meaning of the Income Tax Act (Canada)) (the “Qualifying Expenditures”), which will be renounced with an effective date no later than December 31, 2021, to the purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Shares for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures. It is expected that expenditures will largely be focused on the continued development of the East Preston Uranium Project located in the western Athabasca Basin in Saskatchewan, Canada.
The net proceeds from the sale of Units will be used for working capital and general corporate purposes.
The closing of the Offering is expected to occur on or about September 29, 2021 and is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. Finder’s fees will be payable in accordance with the policies of the TSX Venture Exchange. All securities issuable in connection with the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
Azincourt Engages Red Cloud to provide market stabilization and liquidity services
Azincourt further announces that, subject to regulatory approval, it has retained Red Cloud Securities Inc. to provide its market stabilization and liquidity services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange (“TSX-V”) and other applicable legislation.
Red Cloud will trade shares of the Company on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of Azincourt’s common shares. The agreement between Red Cloud and the Company may be terminated by either party with written notice of 30 days. The Company has agreed to pay Red Cloud $5,000 CDN per month during the term, payable quarterly in advance. The Company and Red Cloud act at arm’s length, but Red Cloud may provide investment banking or other services to the Company and Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Azincourt. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company’s common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render.
About Red Cloud Securities Inc.
Red Cloud Securities Inc. is a 100%, principal-owned Canadian based IIROC investment dealer focused in the junior resource sector. Our primary businesses include investment banking, equity research, and market stabilization and liquidity services. Red Cloud was founded by capital markets professionals with extensive experience in the junior mining industry. Our goal is to become the leading global investment boutique in junior resources.
About Azincourt Energy Corp.
Azincourt Energy 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 majority-owned East Preston uranium project in the western Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
http://www.azincourtenergy.com
Pennybuster
3 years ago
$AZURF $AAZ.v Uplisting News.
Azincourt Energy Upgrades US Listing to OTCQB
VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2), is pleased to announce that its common shares have commenced trading on the OTCQB marketplace under the symbol “AZURF”. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “AAZ”.
The Company expects that the listing on the OTCQB will provide greater visibility and convenience of trading for US investors, resulting in enhanced liquidity and greater reach.
“Trading on the OTCQB gives us the ability to access a larger audience which is an important factor in the Company’s development,” said Alex Klenman, President and CEO. “The US market is obviously extremely significant, and the listing upgrade gives millions of US investors easier access to buy and trade our shares. As the uranium space picks up greater visibility and interest, our ability to introduce the Company to more people during this time of heightened investor awareness is a critical part of our growth strategy,” continued Mr. Klenman.
The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
In addition to the TSX Venture and OTCQB listings, the Company continues to trade on the Frankfurt Stock Exchange under the symbol “A0U2”.
About Azincourt Energy Corp.
Azincourt Energy 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 in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com
AskMuncher
3 years ago
$AZURF Azincourt Energy Completes Radiometric Survey – Updates Plans for the East Preston Uranium Project
Press Release | 09/07/2021
VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to report the completion of the airborne radiometric survey and provide an update on preparations for the upcoming 2021-2022 drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
The primary target area for the 2021-2022 program continues to be the conductive corridor from the A-Zone through to the G-Zone (Figures 1 and 2). The selection of this trend 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 2021 drill programs. The 2020 HLEM survey completed in December indicates multiple prospective conductors and structural complexity along the eastern edge of this corridor.
Airborne Radiometric Survey Complete
Terralogic Exploration Inc. was contracted to facilitate an airborne radiometric survey over the previously unsurveyed southern portion of the property and conduct field investigations of resulting anomalies. Special Project Inc. (SPI) of Calgary, Alberta conducted the survey using a fixed wing aircraft to complete the airborne radiometric survey, which consisted of 2,514 km of survey lines flown at a low minimum altitude and 50 m line spacing to ensure good data collection and a high survey resolution. The survey commenced on August 4th and was completed by August 14th. Preliminary results have been received (Figure 3) and ground-based follow-up of identified anomalies is currently underway.
An airborne radiometric survey uses a gamma ray scintillometer mounted on an airborne platform to measure and map the natural radiation emitted by the rocks and soil the aircraft is flying over. Gamma radiation occurs from the natural decay of elements such as uranium, thorium, and potassium. Locations that have a higher radiation signature (anomalies) than the normal values for the surrounding area (background) would then be examined by crews on the ground for the potential presence of radioactive bedrock if there is not much glacial till cover, or boulders in the till that could be traced back to a source. Many uranium deposits in the Athabasca Basin, including the nearby Triple-R deposit, have been found by following trails of radioactive boulders in the glacial till back to their source.
“The radiometric survey coverage has further highlighted the G-zone and the Q-zone to the east, reinforcing our decision to focus on these conductive packages at this stage of the project. I’m eager to see what boots on the ground may yet show based on these results,” said VP, Exploration, Trevor Perkins.
Updated Exploration Plans
The planned early fall diamond drilling program to complete approximately 1,000 meters of drilling remaining from the shortened winter 2021 program has been rescheduled after consultation with local communities and contractors. As a result, this meterage will be used to further expand the upcoming extensive winter drill program. This program will now consist of approximately 7,000 meters in 30-35 drill holes. Preparations are set to begin in early December. Target selection is ongoing and will be refined based on the ground-based follow-up of anomalies identified from the recently completed airborne survey.
“We don’t want our activities to negatively impact traditional activities by members of the local communities in the area at this critical time of year. There are number of concerns, including the impact of this summer’s heightened fire conditions on the environment,” said VP Exploration, Trevor Perkins. “In consideration of this, we made the decision in consultation with the community to push the scheduled 1000 meters out 90 days into an expanded winter program, which is due to commence in December. We are looking forward to the upcoming drill campaign,” continued Mr. Perkins.
“The radiometric survey has successfully increased our potential target inventory at East Preston,” said Alex Klenman, President and CEO. “In addition, in a matter of weeks we’ll be starting the largest drill campaign yet at East Preston. We are heading towards discovery, with all previous work programs contributing critical data and creating what is now a very compelling exploration case. With renewed life in the sector, our timing appears to be really good. The next couple of years could be very exciting for both the Company and our shareholders,” continued Mr. Klenman.
Permits and funding are in place to complete all the planned work through the winter of 2022, and consultations and information sessions with local communities will continue throughout.
Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan
https://www.globenewswire.com/NewsRoom/AttachmentNg/678db516-1e2e-47ae-acb5-6ee4fe64e309
Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/89b870d5-adf9-4a4c-8539-826dc2b170ca
Figure 3: 2021 Radiometric survey coverage at East Preston Uranium Project.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca66b2fa-0f19-455c-88b4-656a301bbfb5
Figure 4: Project Location – Western Athabasca Basin, Saskatchewan, Canada
https://www.globenewswire.com/NewsRoom/AttachmentNg/0da59997-2297-475f-a4b6-a152359fa6f6
About East Preston
Azincourt controls a majority 70% 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 prospectivity targets because of the structural complexity.
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).
Qualified Person
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 Corp.
Azincourt Energy 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 majority controlled joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com
Pennybuster
5 years ago
Azincourt Energy to Begin Road Construction, Sets Drilling Timeline, at East Preston Uranium Project
VANCOUVER, British Columbia, Dec. 05, 2019 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to provide an additional update on permitting and preparation plans for the 2020 winter diamond drilling program at the 25,000+ hectare East Preston Uranium Project, located 50km southeast of Patterson Lake, in the Western Athabasca Basin, northern Saskatchewan, Canada.
Figure 1: 2020 Drill Targeting – East Preston Uranium Project, Athabasca Basin, Saskatchewan
A permit for road construction is in place, and weather permitting, road opening into the main exploration camp and drilling areas will be initiated in the next two weeks. The plan calls for the re-opening of approximately 65km of winter road, passing Purepoint Uranium Group’s turnoff to Hook Lake at 15km in, and the Azincourt camp at Bolton Lake Wilderness Lodge, at 55km. A preliminary open to the lodge should be in effect by Christmas, after which an additional 8km of new winter road will be established into the Five Island Lake area (central to the Zone-A and Zone-B targets as referenced in the Company’s Drill Plan news release dated December 4, 2019).
Drill mobilization is then scheduled for January 2020, following receipt of 2020 drill/work permits, which are expected to be received sometime in the next few weeks.
As detailed in the December 4, 2019 Company news release, drill target prioritization has been completed, based on compilation of results from the 2019 winter drill program and 2018 and 2019 ground-based EM & gravity surveys, and property-wide helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and magnetic surveys.
The proposed $1.2M drill program will focus on prospective targets in the Five Island Lakes area with 2000-2500m (up to 15 holes) of diamond drilling at 8-to-10 pad locations. The Company will continue to provide updates as permitting is received, groundwork commences, and drill mobilization begins over the next few weeks.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3bf85cb0-0a60-41b5-9d84-0e308311098b
About East Preston
Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Clean Commodities Corp (TSX.V: CLE). Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. 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 Company completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor.
Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.
The Main Grid shows 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; but clearly upgraded/enhanced prospectivity targets because of the structural complexity.
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).
In early 2019 the Company conducted a small initial diamond drill program totaling 552 meters. The results confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston were found to be very similar and appear to be analogous to the Patterson Lake South-Arrow-Hook Lake/Spitfire uranium deposit host rocks and setting.
Qualified Person
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 Ted O’Connor, P.Geo. a director of the Company, as well as a qualified person.
About Azincourt Energy Corp.
Azincourt Energy 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 in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com
Source: Azincourt Energy Corp.
© 2019 GlobeNewswire, Inc.
Pennybuster
5 years ago
Azincourt Energy Confirms Priority Targets for Upcoming Drill Program at East Preston Uranium Project
VANCOUVER, British Columbia, Dec. 04, 2019 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to provide an update on plans for the 2020 winter diamond drilling program at the 25,000+ hectare East Preston Uranium Project, located 50km southeast of Patterson Lake, in the Western Athabasca Basin, northern Saskatchewan, Canada.
Figure 1: 2020 Drill Targets – East Preston Uranium Project
Figure 2: Project Location – Western Athabasca Basin, Saskatchewan, Canada
Drill target prioritization has now been completed, based on the compilation of results from the 2019 winter drill program, the 2018 and 2019 ground-based EM and gravity surveys, and property-wide helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and magnetic surveys.
The upcoming approximately $1.2M drill program will focus on prospective targets in the Five Island Lakes area with 2000-2500m (up to 15 holes) of diamond drilling at 8-to-10 pad locations. The majority of proposed holes will test multiple subparallel EM conductors (A-zone and B-zone conductor corridors), in an area of marked structural disruption. Portions of the A-zone were drilled during the 2019 winter campaign verifying that the conductor hosts significant graphite in strongly deformed (sheared) host rocks that offer both fluid pathways and a reducing host rock conducive to uranium deposition.
Initial drilling is also proposed for the Swoosh zone, a 7+ km long east-west structural lineament with strongly anomalous, spatially consistent geochemical anomalies (lake sediments, radon, soil) and coincident magnetic and gravity geophysical anomalies. Two holes are proposed for this area near the upstream terminus of the geochemical anomalies. This zone is located along strike - approximately 5km southwest of the A-zone.
“East Preston is a large and highly prospective uranium exploration project with a comprehensive inventory of compelling drill targets, and we’re eager to begin testing the target zones,” said President & CEO, Alex Klenman. “Earlier this year a number of factors prevented us from drilling as much as we had planned. The timing of funding, a late start, and the early onset of warmer weather cut short our efforts. However, this upcoming campaign has the benefit of not only adequate funding already in place, but also, we’re significantly ahead of the permitting and preparation process than we were last time. We will test a number of priority targets this time, so we’re excited to get going,” continued Mr. Klenman.
Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/f94bd150-9338-4f5b-896e-e8ab333a89bd
Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/20fcfa58-d306-4d3c-9aac-a89cbe422166
About East Preston
Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Clean Commodities Corp (TSX.V: CLE). Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. 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 Company completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor.
Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.
The Main Grid shows 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; but clearly upgraded/enhanced prospectivity targets because of the structural complexity.
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).
In early 2019 the Company conducted a small initial diamond drill program totaling 552 meters. The results confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston were found to be very similar and appear to be analogous to the Patterson Lake South-Arrow-Hook Lake/Spitfire uranium deposit host rocks and setting.
Qualified Person
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 Ted O’Connor, P.Geo. a director of the Company, as well as a qualified person.
About Azincourt Energy Corp.
Azincourt Energy 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 in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Alex Klenman, President & CEO
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 contact:
Alex Klenman, President & CEO
Tel: 604-638-8063 email: info@azincourtenergy.com
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
http://www.azincourtenergy.com
Source: Azincourt Energy Corp.
© 2019 GlobeNewswire, Inc.
Pennybuster
5 years ago
$AZURF $AAZ.V Azincourt Energy is a Canadian-based resource exploration and development company focused on the alternative fuels/alternative energy sector. Our core projects are in the clean energy space, with uranium exploration projects in the prolific Athabasca Basin, Saskatchewan, Canada, and lithium/uranium projects on the Picotani Plateau, Peru.
Azincourt’s expanding focus will allow the company to grow its evaluation in correlation to macro energy and fuels trends. Uranium for the nuclear industry, and battery metals such as lithium, cobalt, nickel, manganese, and graphite, are at the forefront of a changing focus in energy development. We are actively pursuing projects that position Azincourt for growth in this important sector.
Currently Azincourt is developing the East Preston uranium project, located in the prolific Athabasca Basin, with partners Skyharbour Resources (TSX.V: SYH) and Clean Commodities Corp (TSX.V: CLE) , and the Escalera Group lithium/uranium project in Peru.
https://azincourtenergy.com/company/about-us.html
Pennybuster
5 years ago
East Preston Uranium Project
Athabasca Basin, Saskatchewan, Canada
World-Class District:
The largest, highest grade uranium deposits in the world with 10 to 100 times world average
Production History:
Uranium mining and production for 40+ years
Stable Political Climate:
Pro-mining attitudes and policies on federal and provincial government levels
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Western Athabasca
Comparable Market Caps
NexGen Energy - $819M CDN
Areva (Orano Canada) - $1.37B USD
Cameco - $6.1B CDN
Fission - $281M CDN
Denison - $424M CDN
UEX Corp – $64.8M CDN
Purepoint Uranium – $19.3M CDN
Fission 3.0 - $16.5M CDN
Azincourt Energy - $4.5M CDN
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EAST PRESTON PROJECT
AAZ is earning a 70% interest the Eastern portion of the Preston Project
Overall the Preston Project is one of the largest tenure land positions in the Paterson Lake region
Strategically located near NexGen Energy Ltd’s high-grade Arrow deposit, Fission Uranium Corp’s Triple R deposit & AREVA/Cameco/Purepoint’s joint venture (Spitfire)
Orano Canada (Areva) optioned 49,635 hectares of the Preston Project for up to $7.3 million in exploration expenditures
Over CDN$2.5 million in exploration expenditures on the East Preston Project over the past three years
Several high-priority drill targets identified within multiple prospective exploration corridors delineated through recent geophysics and ground evaluation
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2018 geophysical survey results
In the winter of 2017-18 numerous, high-quality drill targets were generated through HLEM and Gravity geophysical surveys
The geophysical program consisted of 51.45 km of grid preparation, 46.05 km of horizontal loop electromagnetic (HLEM), and 40.6 km of gravity and was designed to accurately identify the location of multiple conductive systems in this shallow depth to basement environment
Uranium deposits are often associated close to basement conductive trends and represent a first order criterion for discovery
Subtle gravity low anomalies can highlight areas of alteration and structural disruption
Gravity highs may represent basement topography, which are also associated with uranium deposits
The initial ground geophysical program confirmed the interpretation of the previous airborne data and has yielded drill targets within previously untested corridors
The following map shows 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 but clearly upgraded/enhanced prospective targets due to the structural complexity
Abundant drill targets have been identified for continued drill testing
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VTEM ™ Survey – January 2019
A helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey was completed over the southeastern portion of the East Preston Project to complete survey coverage over the entire 25,000+ hectare project area
The survey was completed between January 23 and February 6, 2019, and consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines
Flight lines were oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston
Geotech, a global leader in airborne geophysical survey mapping, interpretation and analysis, is finalizing the survey report, but has completed data processing and has provided a merged dataset covering the entire East Preston project (see following slide) by combining the newly acquired VTEM ™ survey data with the original VTEM ™ data coverage
In-depth interpretation is on-going by Bingham Geoscience, geophysical consultants to Azincourt
100% of the 25,000+ hectare (250-sq kms) project ground is now covered by detailed geophysics, adding to an already robust target inventory
The initial results of the survey has added an additional 7.5 to 10 km along two of the previously identified prospective conductive trends
Offset breaks are seen in the conductor trends with multiple, discreet conductors interpreted
Drill Phase – March 2019
Drilling commenced in mid-March with the program consisting of multiple inclined diamond drill holes targeting areas along the Main and M1 conductor trend
All drill holes to date have targeted multiple, closely-spaced discreet graphitic conductors with coincident gravity low anomalies
Drill core samples collected will be submitted for chemical analysis with results pending
Pathfinder trace element geochemistry will add additional information and enhance vectoring towards the most prospective areas of the conductor system
Numerous untested graphitic conductive trends remain on the project for future drill testing, and additional targets are expected to be generated from the recent VTEM survey
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