Azincourt Energy Corp.

Elements for the Future of Energy

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Azincourt Energy Corp. (TSXV:AAZ) is a resource exploration and development company focused on building a portfolio of uranium and lithium projects for the alternative energy sector.

Azincourt holds interests in two highly prospective uranium plays in Canada’s prolific Athabasca Basin: East Preston and Patterson Lake North. Azincourt also controls a 100% owned uranium-lithium project in southeastern Peru.

On the lithium side, Azincourt has an active joint-venture with New Age Metals (TSXV:NAM) for a 100-percent interest in eight lithium projects located in Manitoba, Canada.

Azincourt is developing it portfolio of uranium properties to fulfill the growing demand for clean energy sources. The World Nuclear Association is predicting that 25 percent of the world’s energy supply is going to come from nuclear plants by 2050. As of July 2018, 453 nuclear reactors were in operation and 57 reactors were down for maintenance. The vast number of reactors in the world are creating a demand for new sources of uranium, as approximately 85 percent of the world’s supply is met by mining.

In addition, recent production cuts by uranium giants Cameco and KazAtomProm, and new buyers like uranium fund Yellow Cake, have begun to exert significant influence on the spot price, which saw a dramatic 40% increase in the last calendar year.

Azincourt has the option to acquire a 70 percent interest in the East Preston project, a joint venture with partner Skyharbour Resources (TSXV: SYH) and Clean Commodities Corp (TSXV: CLE). The property consists of 25,000+ hectares of the eastern portion of the Preston project, one of the largest tenure land positions in the Patterson Lake region.  Orano Canada (Areva) has optioned nearly 50,000 hectares of the Preston project, and has announced a $2.2M work program for this winter.  The Patterson Lake region also hosts the high-grade Arrow, Triple R and Spitfire uranium deposits. Azincourt’s 2018 geophysical program at East Preston in early 2018 identified numerous high-priority drill targets. The company plans on drill testing this winter.

Azincourt also holds a 10 percent interest in the Patterson Lake North uranium project, a joint venture with Fission 3.0 (TSXV: FUU) as operator. The Patterson Lake North property is immediately adjacent to Fission Uranium Corp.’s Patterson Lake South property which hosts the high-grade Triple R uranium deposit. Geophysical work at Patterson Lake North has established drill-ready targets in three conductor systems on the property.

In September 2018, Azincourt acquired three uranium-lithium exploration projects in the Puno region in southeastern Peru: Escalera, Lituania and Condorlit. At the Escalera property, historical rock samples returned values of up to 6,812 ppm uranium.  In 2017, ALS Minerals of Lima processed surface rocks samples that returned values of up to 3,560 ppm uranium and 153 ppm lithium. Azincourt recently completed a mapping and sampling program at the three properties aimed at identifying exploration targets for future drilling

Azincourt Energy is managed by a team of proven mining professionals with a successful track record in building resource companies and identifying opportunities to increase shareholder value.

Company Highlights

  • Option to acquire 70-percent interest the East Preston project JV with Sky Harbour
  • Several high priority drill targets identified East Preston; portion of Preston Project, one of the largest tenure land positions in the Patterson Lake region
  • East Preston strategically located near high-grade Arrow, Triple R and Spitfire uranium deposits
  • Joint venture with New Age Minerals for eight lithium properties in Manitoba
  • AREVA recently optioned 49,635 hectares of the Preston Project
  • 10 percent interest in Fission 3.0’s Patterson Lake North project adjacent to Fission Uranium’s Patterson Lake South project
  • Acquired three uranium-lithium properties in southeastern Peru.
  • Drill targets identified in three conductor systems at PLN
  • Definitive agreement for eight highly prospective lithium projects in Manitoba

East Preston Uranium Project

The East Preston uranium project covers 25,329 hectares in the southwestern portion of the Athabasca Basin. The project is a part of Skyharbour’s 121,249-hectare Preston Property, one of the largest tenure land positions in the Patterson Lake region. Preston is located to the south of and adjacent to NexGen Energy’s (TSXV:NXE) Rook 1 project, which hosts the high-grade Arrow deposit, and proximal to Fission Uranium’s (TSX:FCU) Patterson Lake South project, which hosts the high-grade Triple R deposit.


Preston also shares its prestigious mining district with the Hooke Lake project (Spitfire), a JV between AREVA, Cameco and Purepoint. AREVA recently optioned nearly 50,000 hectares of the Preston project for up to $7.3 million in exploration expenditures.

More than C$2 million in exploration spending has gone into the East Preston project since 2013 including airborne electromagnetic (VTEM) and magnetic and radiometric surveys. The work resulted in the identification of three prospective conductive, low magnetic signature corridors with a total strike length of over 25 kilometers. EM conductor trends were discovered for each corridor.

Ground prospecting and sampling identified key pathfinder elements for unconformity uranium deposit discovery. Only one of the corridors has been drilled to date.


Geophysical Program

Azincourt has been working on following up on previous exploration work at East Preston with a geophysical exploration program. The work program has included re-logging and sampling of the seven diamond drill holes completed in 2014, with additional ground electromagnetic survey work and ground gravity planned along the airborne conductive trends. The company has also conducted 50 line kilometers of horizontal loop electromagnetic (HLEM) and ground gravity surveys across the property. This has generated a number of priority targets and the company is in the process of further interpreting the survey work.

Azincourt Map 4

Moving Forward

Azincourt has scheduled a winter work program for the property which will include approximately 2,500 meters of drilling to test several high-priority targets. The targets were identified in a geophysical exploration program that was completed earlier in the year.

Patterson Lake North Joint Venture

The Patterson Lake North (PLN) project, located in the Athabasca Basin, is immediately adjacent to Fission Uranium Corp.’s Patterson Lake South (PLS) property and 5.7 kilometers to the north of the high-grade Triple R deposit.

Azincourt Map 5


Exploration work at PLN is conducted by Fission 3.0 who has identified that the property lies on the same structural corridor as PLS. Completed exploration work on the property includes airborne and ground geophysics as well as 2,130-meters of drilling. Significant pathfinder elements and uranium mineralization has been identified including hole PLN-019 which returned 0.5 meters at 0.047 percent U3O8 within six meters at 0.012 percent U3O8.

Fission 3.0 is conducting a follow up drill program on the property in 2018 that focused on a 700-meter mineralized corridor that was identified in previous drill programs.

Lithium Joint Venture Projects with New Age Metals

Azincourt has partnered with New Age Minerals to bring eight projects forward in Manitoba, Canada: Lithium One, Lithium Two, Lithman West, Lithman East, Lithman North projects, Cat Lake and the Lithman East and West expansions. New Age added to the land package by exercising its option agreement with Mustang Minerals to explore the Cat 4 claim, which lies adjacent to the western border of the Lithium Two project, bring the land package to over 14,000 hectares; making it one of the largest lithium claim holdings in the Bird River Greenstone Belt. The belt contains the Winnipeg River Pegmatite Field which hosts numerous lithium-rich pegmatites including the world-class lithium-cesium-tantalum (LCT) Tanco Pegmatite.


Three of the five properties are drill-ready and the Lithium Two project hosts a historical estimate of 545,000 tonnes of 1.4 percent lithium oxide. The Lithman West and East projects are adjacent to the underground cesium-spodumene-tantalum Tanco Mine property.

The land package also features Bernic Lake formation, which is known to host the Tanco Pegmatite as well as various other lithium-bearing pegmatites in the Bird River Greenstone belt. With the expansion of the Lithman West project, which Azincourt and New Age acquired in May 2018, the property now covers over 12 kilometers of the Bernic Lake formation.

Moving Forward

Work underway on the properties includes detailed mapping of pegmatite outcroppings on the Lithium One and Lithium Two projects, followed by a chip sampling program and a minimum of 3,000 meters of drilling, primarily at the 1,100-meter long Eagle Pegmatite as well as the FD5 and Silverleaf Pegmatites.

Results from Lithium One have shown assays of up to 4.1 lithium oxide from the Silverleaf Pegmatite. Additional results included nine samples above 2.0 percent, five samples above 3.0 percent and another sample above 4.0 percent. A high-purity spodumene blade sample from Silverleaf assayed 8.76 percent.

Preliminary results from Lithium Two include samples taken from the Eagle pegmatite which returned values of 0.5 percent to 2.9 percent lithium oxide in the first phase, and 0.12 percent to 3.8 percent lithium oxide in the second phase. Samples taken from the FD5 pegmatite, returned values of 0.9 percent to 3.3 percent lithium oxide.

In order to launch its proposed drill plans for the property, New Age has signed an exploration agreement with the Sagkeeng First Nation. This agreement ensures that the company and First Nation community work cooperatively as part of a mutually respectful relationship. The Sagkeeng nation will be consulted and accommodated throughout mineral exploration activities that are undertaken in their territory.

Peru Uranium-Lithium Projects

In September 2018, Azincourt entered into a definitive property option agreement with 1177865 B.C. Ltd. to acquire three uranium-lithium exploration projects in the Puno region in southeastern Peru. The acquisition includes the 5,500-hectare Escalera project, the 899.97-hectare Lituania concession and the 999.97-hectare Condorlit concession. The projects are accessible year-round via paved and dirt roads and a national airport is located approximately 130 kilometers to the south. These properties have been collectively named the Escalera Group.


The projects are located in the Macusani-Crusero-Picotani volcanic fields, which have seen uranium exploration since the 1980s. A report released by the International Atomic Agency examined the Macusani-Crusero-Picotani area and stated that: “the large Crucero to Picotani basin, although having less well exposed occurrences may have more potential. Isolated outcrops of the volcanic sequence around the rim of the basin may have been available both during sedimentation and later basin evolution, leading to the accumulation of significant deposits.”

Historical rock samples taken from Escalera returned values of up to 6,812 ppm uranium. In 2017, ALS Minerals processed surface rocks samples from the Escalera project and the samples returned values of up to 3,560 ppm uranium and 153 ppm lithium.

In October 2018, Azincourt began its initial work program at the Escalera group of properties, which included detailed reconnaissance with a focus on locating outcroppings and known host rock formations, ground radiometric geophysical surveys and comprehensive channel sampling.


Alex Klenman – President, CEO & Director

Alex Klenman brings over 30 years of business development, marketing, finance, media and corporate communications experience. He has held senior management positions in both the public and private sectors. Klenman is currently Chairman & COO of Nexus Gold Corp, a position he has held since December 2014. Prior to that he was Vice-President, Corporate Finance of Columbia Star Resources, the pre-cursor to Nexus Gold, from 2010-2014, and Vice-President, Communications, for Falcon Point Capital Partners, a firm that provided finance, communications and marketing initiatives for TSX Venture listed resource companies, including Roxgold Inc., Forum Uranium, Integra Gold, Midnight Sun Mining and others. Klenman also spent ten years in broadcasting, which included notable board positions with CKVU Television and Canwest Pacific Television in Vancouver.  In this role, he was directly involved in the development of corporate strategies and policies that produced $25 million in annual revenue.

Paul Reynolds P.Geo – Director

Paul Reynolds is a professional geologist with over 24 years’ experience working in Canada, USA, Bolivia, Argentina and Guyana. He specializes in the conception and management of mineral exploration ventures. Reynolds holds a B.Sc. degree from the University of British Columbia. He is a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia since 1992, a fellow of the Geological Association of Canada, and a member of the Society of Economic Geologists.

Reynolds has 16 years’ experience managing public companies as both a director and/or executive officer. He is President, CEO and director of Central Resources Corp and is the former Chairman, CEO/CFO and a director of Athlone Energy Ltd., which was sold to Daylight Energy Ltd. in September 2008. He is also a director of Petro One Energy Corp., Happy Creek Minerals Ltd. and TerraX Minerals Inc.

Ted O’connor P.Geo – Director

Ted O’Connor is a Professional Geoscientist with over 22 years of experience, predominantly in the uranium exploration industry. He spent 19 years with Cameco, one of the world’s largest uranium producers. Most recently, he was a Director of Cameco’s Corporate Development group where he was responsible for evaluating, directing and exploring for uranium deposits throughout North America, Australia, South America and Africa.

O’Connor successfully led new project generation from early exploration through to discovery on multiple unconformity uranium projects. He was also responsible for opportunity evaluation, acquisition and for managing Cameco’s exploration partnerships aimed at growing and diversifying Cameco’s exploration portfolio in new jurisdictions and other uranium model types. Prior to joining Cameco, he was an exploration field and underground mine geologist for major mining companies and junior explorers searching for gold, diamonds and base metals.

Vivian Chuang CPA – CFO

Vivien Chuang is a Chartered Professional Accountant with several years of experience in the resource and mining sector. She worked at PricewaterhouseCoopers LLP from 2006 to 2010 and Charlton & Company from 2010 to 2011. Currently, she is the President of VC Consulting Corp. which provides CFO and other financial accounting and compliance services to a number of companies. She holds a Bachelor of Business Administration degree from Simon Fraser University.


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