VANCOUVER, British Columbia, December 08, 2021 (GLOBE NEWSWIRE) – AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF), is pleased to announce that the preparation of the winter road to allow access to the winter 2022 exploration program has started at the East Preston uranium project, located in the western Athabasca Basin, in Saskatchewan, Canada.
Accurate Industries was contracted to prepare and maintain the 60 km winter access road under the supervision of TerraLogic Exploration Inc. The road provides access from Provincial Road 955 along Cree Lake Road to the planned camp on the East Preston Project. Several streams and swampy areas need to be crossed, so early preparation is essential to ensure these areas are properly prepared and frozen to allow safe access for the winter season.
East Preston Targets
The main target area of ââthe 2022 program continues to be the conductive corridors from zone A to zone G (Trend AG) and from zone K to zone Q (Trend KQ) (Figures 1 and 2). The selection of these trends is based on a compilation of results from gravity and electromagnetic ground surveys from 2018 to 2020, from magnetic and VTEM surveys at the property scale and from drilling programs from 2019 to 2021, the HLEM 2020 survey indicates several potential drivers and complexity along these corridors.
The 2019-2021 drilling programs on Trend AG confirmed that the geophysical conductors include structurally disturbed areas that harbor accumulations of graphite, sulphides and carbonates. It has been shown that there is abnormal radioactivity in these structurally disturbed conductive areas. The 2022 drilling program will target similar structurally disturbed areas, prioritized based on the presence and strength of the corresponding electromagnetic, magnetic and gravity geophysical anomalies.
Winter 2022 diamond drilling program
Terralogic Exploration Inc. has been engaged to facilitate and execute a planned diamond drilling program, which will consist of a minimum of 6000 m of drilling in 30 to 35 drill holes. Drilling will focus on AG and KQ trends, starting in Zone G where the 2021 drill program ended. The program will continue to test the G zone to the south, then move to test the KQ trend. The program can be changed depending on the results.
The opening of the 60 km winter road to access the property and the campsite is underway, with construction of the camp scheduled for late December and early January. Discovery Mining Services was hired to supply and support camp operations. Drilling is scheduled to begin in early to mid-January, using two diamond drill rigs supplied by Full Force Drilling Ltd, and is expected to last through early March.
“We are very pleased to see the start of work giving us access to our winter drilling program,” said Vice President, Exploration Trevor Perkins. âThis will be the largest program to date on the East Preston Project, continuing where our aborted 2021 program left off. Having a well-prepared access route to the area is essential to ensure that our crews, equipment and supplies enter the site safely with minimal environmental impact, âcontinued Mr. Perkins.
Permits and community involvement
Permits are in place to complete all planned work through winter 2022. Azincourt Energy continues to participate in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of local communities are taken into account. Azincourt looks forward to the continuation of a close working relationship with CRDN and other rights holders to ensure that all potential impacts and concerns are taken into account and that communities can benefit from activities in the region and sponsorship of selected community programs and initiatives.
Figure 1: Target corridors for the East Preston Uranium Project, Western Athabasca Basin, Saskatchewan
Figure 2: 2022 target drill areas at the East Preston uranium project
Figure 3: Project location – Western Athabasca Basin, Saskatchewan, Canada
About East Preston
Azincourt controls a more than 70% interest in the 25,000 hectare East Preston project under a joint venture agreement with Skyharbour Resources (TSX.V: SYH) and Dixie Gold. Three potential conductive corridors with low magnetic signature were discovered on the property. The three separate corridors have a total length of over 30 km, each with several identified EM conductor tendencies. Ground prospecting and sampling work carried out to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key elements for the discovery of unconformed uranium deposits.
The East Preston project has several long linear conductors with bending orientation changes and offset breaks near the interpreted fault lineaments – classic targets for unconformed uranium deposits in the basement. They are not simple basement conductors; these are clearly improved / improved prospecting targets due to the structural complexity.
The targets are unconformity-related uranium deposits hosted underground, 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 the targets are in a near-surface environment with no cover of Athabasca sandstone – so these are relatively shallow targets but can have great depth when discovered. The project land is located along a conductive axis parallel between the PLS-Arrow axis and Cameco’s Centennial deposit (Virgin River-Dufferin Lake axis).
The technical information in this press release has been prepared in accordance with 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 Azincourt Energy, and a qualified person as defined by National Instrument 43-101.
About Agincourt Energy Corp.
Azincourt Energy is a Canada-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 in its majority-owned East Preston joint venture uranium project, and its newly acquired Hatchet Lake uranium project, both located on the edges of the Athabasca Basin, Saskatchewan, Canada, and the Escalera group’s uranium-lithium project, located on the Picotani plateau in south-eastern Peru.
ON BEHALF OF THE BOARD OF DIRECTORS OF AZINCOURT ENERGY CORP.
Alex Klenman, President and 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 contains “forward-looking statements” including forecasts, estimates, expectations and targets for future operations which are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of control of Agincourt. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. This 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 significantly.
For more information, please contact:
Alex Klenman, President and CEO
Phone. : 604-638-8063
Azincourt Energy Corp.
1430 – 800 Pender Street West
Vancouver, BC V6C 2V6