Energy

Azincourt Energy Corp. ("Azincourt" or the "Company") (TSX.V: AAZ, OTC: AZURF) is pleased to announce the recent ground-based geophysical exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada, has been completed and the results indicate several new drill targets have been identified.

The program comprised a horizontal loop electromagnetic survey ("HLEM") originally consisting of a total of 33 line-km of line-cutting and surveying. An additional 5 lines of cutting and surveying were added, bringing the total survey coverage to 40.5 line-km in six grid target areas. Previous updates on this survey were provided by the Company in news releases dated November 23, 2020 and December 9, 2020.

Unconformity related uranium deposits associated with the Athabasca Basin are closely associated with basement conductive packages. The HLEM survey was utilized to refine and prioritize target areas where untested conductive corridors have been identified in existing property-wide airborne VTEM survey results. The survey was successful in delineating several conductors over the six selected target areas, G1, G2, G3, K, Q and H (see Figure 2). Many of the conductors show strong well-defined responses which are deemed suitable for drill testing.

"The survey results are encouraging, and we are excited to be in a position where these targets are now ready for drill testing," said Exploration Manager, Trevor Perkins.

"The goal was to expand the existing drill target inventory and the positive survey results have done so in meaningful way," said president and CEO, Alex Klenman. "Adding drill targets increases the prospectivity of East Preston to an even greater degree. Simply put, more targets mean more opportunities for impactful discovery. We're eager to complete the earn-in and continue drilling," continued Mr. Klenman.

The total cost of the HLEM program allowed Azincourt to meet the total spend requirement of the joint venture earn-in agreement with Skyharbour Resources and Dixie Gold. Once the Company makes the final payment of the agreement (due by March 31, 2021) the earn-in will be completed and Azincourt will have earned a 70% interest in East Preston.

The Company is planning a 2021 winter drill program, details will be announced shortly.

Patterson Geophysics of La Ronge, Saskatchewan, conducted the geophysical program. Bingham Geoscience of Saskatoon oversaw the program and completed the interpretation.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de11830c-f4a4-4a62-8a11-1aef441b1ae2

https://www.globenewswire.com/NewsRoom/AttachmentNg/5e724943-24b6-44a6-b0a5-5623a1bfc27a

https://www.globenewswire.com/NewsRoom/AttachmentNg/822ad16f-fc47-4894-86f7-88ed408aff41

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 Dixie Gold Inc (TSX.V: DG) (Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada). Multiple prospective conductive, low magnetic signature corridors have been discovered on the property. These 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., Exploration Manager 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
www.Azincourtenergy.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

Skyharbour Secures Option to Acquire an Initial 51% and Up to 100% of the Russell Lake Uranium Project from Rio Tinto in the Athabasca Basin of Saskatchewan

Skyharbour Secures Option to Acquire an Initial 51% and Up to 100% of the Russell Lake Uranium Project from Rio Tinto in the Athabasca Basin of Saskatchewan

Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce that it has entered into an Option Agreement with Rio Tinto Exploration Canada Inc. ("RTEC"), a wholly owned subsidiary of Rio Tinto Limited ("Rio Tinto"), to acquire up to 100% of the Russell Lake Uranium Project (the "Property" or "Project"), which comprises 26 claims covering 73,294 hectares of prospective exploration ground strategically situated between the Company's Moore Uranium project (to the east) and Denison Mines' Wheeler River project (to the west) in the eastern portion of the Athabasca Basin.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
CanAlaska Acquires Large Position NE of Patterson Lake

CanAlaska Acquires Large Position NE of Patterson Lake

Over 60 Kilometres of the Prolific Patterson Lake Corridor

Highly Anomalous Lake Sediment Samples Identified

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
HydroGraph Inc. Nears Commercial Scale Production

HydroGraph Inc. Nears Commercial Scale Production

HydroGraph Clean Power Inc. (HG.CN) (OTCMKTS:HGCPF) (the " Company " or " HydroGraph "), a commercial manufacturer of high-quality nanomaterials and alternative-energy fuels, has announced a time horizon for commercial scale production at its Manhattan, KS manufacturing plant.

The Company has targeted Q3 2022 for commercial scale, leveraging manufacturing technology developed at Kansas State University and kicking off a five-year plant expansion and job creation plan for the Manhattan region.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
ValOre Metals

ValOre Files Technical Report for Pedra Branca

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today filed a technical report (the "Technical Report") for ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.

The Technical Report, entitled "Independent Technical Report – Mineral Resource Update on the Pedra Branca PGE Project, Ceará State, Brazil" has been prepared in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101") and can be found at www.sedar.com .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour Resources Ltd. Invites You to Join Us at the Vancouver Resource Investment Conference

Skyharbour Resources Ltd. Invites You to Join Us at the Vancouver Resource Investment Conference

Skyharbour Resources Ltd. (TSXV: SYH) would like to cordially invite you to visit us at Booth #604 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
ValOre Metals

ValOre Drills Multiple Zones of Near-Surface Radioactivity at Dipole Target, Angilak Property Uranium Project

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today provided a preliminary update on the Reverse Circulation ("RC") drilling at ValOre's 100% owned 59,483-hectare Angilak Property Uranium Project ("Angilak"), located in Nunavut Territory, Canada. All seven RC holes drilled at the Dipole target have intersected multiple, shallow zones of radioactivity.

"Dipole was first drilled in 2015, where 9 of 9 ValOre diamond drill holes intersected multiple zones of near surface uranium mineralization in rocks analogous to those found in the Lac 50 Trend deposits," stated ValOre's VP of Exploration, Colin Smith. "2022 RC drilling at Dipole confirms that U 3 O 8 mineralization remains open at depth and along strike in both directions coincident to a 3.4-km-long, coincident, VLF-EM conductor and uranium-in-soils anomaly."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×