AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”)
(TSX.V: AAZ, OTCQB: AZURF), is pleased
to announce that drilling has commenced for the winter 2022
exploration program at the East Preston uranium project, located in
the western Athabasca Basin, Saskatchewan, Canada.
Full Force Drilling Ltd is providing two diamond
drill rigs and conducting the drilling program, under the
supervision of TerraLogic Exploration Inc. The first drill rig is
operational, and the second rig should commence within
days.
Winter 2022 Diamond Drilling
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 will
consist of a minimum of 6,000m of drilling in 30-35 drill holes.
Drilling will focus on the A-G and K-Q trends, commencing in the G
Zone where in last season’s abbreviated drill program, elevated
uranium levels were obtained. This drill program will continue to
evaluate the G zone to the south and assess the K-H-Q trend. The
program may be modified, and drill holes adjusted at any time as
results warrant.
The 73-km winter road to access the property and
campsite is complete and camp construction is in the final stages.
Accurate Industries will maintain the winter access road and
facilitate transport of fuel and supplies to camp for the duration
of the program. Discovery Mining Services will maintain, staff, and
manage the exploration camp at Snoop Lake for the duration of the
program. The program is expected to continue until mid to late
March.
“The crew have done a tremendous job getting us
to this point and ready to drill,” said president and CEO, Alex
Klenman. “Over 70 kilometers of road was built and upgraded, a
20-person camp was constructed, and all equipment was mobilized
without issue. The next phase, drilling, is now underway. Needless
to say, we’re excited to begin what is the most comprehensive drill
program ever at East Preston. We’re focused on discovery, so the
next couple of months will be a very busy time for us,” continued
Mr. Klenman.
“We are excited to finally have the drill rigs
turning for this program. It will be exciting to see what we pull
out of the ground,” said VP, Exploration, Trevor Perkins. “We know
we have a good structural corridor with graphitic lithologies
present and alteration fluids in the system. Now we just need to
pinpoint that location on the trend where it all comes together
perfectly to give us a deposit,” continued Mr. Perkins.
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.
Figure 1: Target corridors at the East Preston Uranium Project,
Western Athabasca Basin
Saskatchewan https://www.globenewswire.com/NewsRoom/AttachmentNg/58111539-daa0-4458-84bb-43c4c0d75805
Figure 2: 2022 Drill Target areas at the East Preston Uranium
Projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/a0c04ec3-19a0-405f-9de0-e7f130bb657d
Figure 3: Project Location – Western Athabasca Basin,
Saskatchewan,
Canadahttps://www.globenewswire.com/NewsRoom/AttachmentNg/becf31df-f612-465f-8724-bd0a78932f76
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 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 & CEOTel:
604-638-8063info@azincourtenergy.com
Azincourt Energy Corp.1430 – 800 West Pender
StreetVancouver, BC V6C
2V6www.azincourtenergy.com
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