Azincourt Energy CEO Alex Klenman: Two Great Projects in the Athabasca Basin

Azincourt Energy (TSXV:AAZ,OTCQB:AZURF,FWB:A0U2) CEO Alex Klenman discussed the company’s strong position despite the recent retracement in the uranium industry.

“We're cashed up, we're exploring, we've got two great projects," Klenman said in the interview. "And we're in a really good position heading into the next phase here. We're capitalized and have two active projects. One is getting significantly hotter.” That one is the 2 kilometer alteration zone in the Athabasca Basin.

Azincourt’s flagship East Preston uranium project covers over 25,000 hectares in the Western Athabasca Basin. The company’s 5,004.5 meter winter 2022 exploration program was completed in March 2022. According to a press release, 420 samples were collected and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan, for analysis.

The company’s second project, Hatchet Lake, is a 13,711 hectare uranium exploration project adjacent to the Athabasca Basin. The project sits in a highly prospective structural corridor that hosts the majority of known high-grade uranium deposits and all of Canada's operating uranium mines.

As for the uranium industry as a whole, Klenman explained the value of seeing the market “from a macro picture.” He acknowledged, “The retracement isn't fun. I know a lot of people, including myself, my uranium holdings are down. But look ahead — try not to think on the day to day, rather the bigger picture we're going to be involved with in 18 months.”

Klenman continued, “We see people buying up excess supply, the increasing demand in China and also into the US. Uranium’s time is coming back — and people have been speaking to it for a long time. So we know it exists; we know that supply has to be found to meet the growing demand in the nuclear space. And as an explorer, that's the key reason we exist, to bolster that supply.”

Looking towards the future, Klenman shared, ”We're waiting for our results from our recent drill program at East Preston. Next drill season, which is really rapidly coming — I mean, we're in May already — we're going to be drilling both at East Preston and our Hatchet Lake project, plus following up on the significant results that we're seeing at East Preston. Things are looking up, and we're going to be very, very active in the foreseeable future.”

Watch the full interview of Azincourt Energy CEO Alex Klenman above.

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