Azincourt Energy Conducting Airborne Geophysical Survey at the East Preston Uranium Project, Athabasca Basin, Saskatchewan
AZINCOURT ENERGY CONDUCTING AIRBORNE GEOPHYSICAL
SURVEY AT THE EAST PRESTON URANIUM PROJECT, ATHABASCA
BASIN, SASKATCHEWAN
Vancouver B.C., December 11, 2018 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTC: AZURF) , is pleased to provide an update regarding its win ter
work program at the East Preston uranium project lo cated in the southwestern Athabasca Basin,
Saskatchewan, Canada.
The Company has engaged Geotech Ltd to conduct a he licopter-borne Versatile Time-Domain
Electromagnetic (VTEM™ Max) and Magnetic survey ove r the southeastern portion of the East
Preston Project to complete survey coverage over the entire project area.
The planned survey will consist of 498 line-km with 300m line spacing and 1,000m tie-line spacing
– identical parameters to the previous VTEM™ Max su rvey, and ties directly into the previous
flight lines (Figure 1). Flight lines are oriented NW-SE, perpendicular to the NE-SW trending
structural and conductor trends of the basement rocks at East Preston.
Geotech Ltd., the sole provider of the VTEM™ Max pl atform, has a system currently active in
Saskatchewan and plans to commence the East Preston survey in mid-December. Weather
permitting, the survey is expected to require 5-7 days, and will be completed by year end.
“The VTEM™ Max system has been used in the Athabasc a for many years and is an ideal
technique for identifying basement conductor system s – the first-tier targeting criteria for
unconformity uranium deposit discovery,” said Ted O ’Connor, Director and Qualified Person on
the East Preston project. “VTEM has proven effectiv e to depths of well over 400m in the
Athabasca. The East Preston project lies outside th e Basin with shallow targets anticipated, making
VTEM™ Max an ideal direct targeting tool for the pr oject, which may preclude the need for future
ground-based EM techniques in this environment,” co ntinued Mr. O’Connor.
“This VTEM™ Max survey coverage will bring the enti re East Preston project up to the same level
of investigation,” said Alex Klenman, president & C EO. “It will allow us to generate additional
quality geophysical drill targets and provide us wi th the ability to assess and evaluate the
prospectivity of the entire project area. The value of the survey in terms of building our database on
the project is critical. Last winter’s geophysical survey generated numerous high-priority drill
targets that will be tested as part of the upcoming planned work program,” continued Mr. Klenman.
Figure 1: Proposed VTEM Survey grid – December 2018
Figure 2: 2018 VTEM Survey results
The Company has applied for and is awaiting approva l for drill permits at East Preston and once
granted is planning to begin phase one of an approx imate 10+ hole, 2000-2500-meter diamond drill
program of inclined drill holes to test the structu rally-controlled basement uranium deposit model.
Drill targets have been prioritized based on stacki ng of airborne and ground electromagnetic and
ground gravity geophysical data interpretation.
Figure 3: Project Location & Surrounding Projects – Western Athabasca Basin, Saskatchewan,
Canada
Historical Work
Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as
part of a joint venture agreement with Skyharbour R esources (TSX.V: SYH), and Clean
Commodities Corp (TSX.V: CLE). Extensive regional exploration work at East Preston was
completed in 2013-14, including airborne electromag netic (VTEM), magnetic and radiometric
surveys. 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.
Only one of the corridors has been drill tested to date, successfully intersecting structurally
disrupted graphitic metasedimentary rocks and anoma lous pathfinder elements (including uranium)
at the Swoosh S6 target using a combination of Hori zontal Loop EM (HLEM) and gravity as
primary targeting tools.
Azincourt Geophysical Work - Winter 2018
The Company completed a winter geophysical explorat ion program in January-February 2018 that
generated a significant amount of new drill targets within the previously untested corridors while
refining additional targets near previous drilling along the Swoosh corridor.
The work included 51.5 km of grid preparation (line cutting/picketing), 46.1 km of horizontal loop
electromagnetic (HLEM), and 40.6 km of ground gravi ty along the previously known airborne
helicopter VTEM conductive trends.
Ground-truthing work confirmed the airborne conduct ive trends and more accurately located the
conductor axes for future drill testing. The gravit y survey identified areas along the conductors with
a gravity low signature, which is often associated with alteration, fault/structural disruption and
potentially, uranium mineralization. The combinatio n/stacking of positive features will assist
prioritizing targets for testing first.
The Main Grid shows 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 s imple basement conductors; they are clearly
upgraded/enhanced prospectivity targets because of the structural complexity.
Targets
The targets are basement-hosted unconformity relate d uranium deposits similar to NexGen’s Arrow
deposit and Cameco’s Eagle Point mine. East Presto n is near the southern edge of the western
Athabasca Basin, where targets are in a near surfac e environment without Athabasca sandstone
cover – therefore they are relatively shallow targe ts 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 Instrum ent 43- 101 and reviewed on behalf of the
company by Ted O’Connor, P.Geo. a director of Azinc ourt Energy Corp., as well as a qualified
person.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource compa ny specializing in the strategic acquisition,
exploration and development of alternative energy/f uel projects, including uranium, lithium, and
other critical clean energy elements. The Company is currently active at its joint venture lithium
exploration projects in the Winnipeg River Pegmatit e Field, Manitoba, Canada, its East Preston and
Patterson Lake North uranium projects in the Athaba sca Basin, Saskatchewan, Canada, and its
100% owned Escalera Group uranium-lithium project l ocated 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 r esponsibility for the adequacy or accuracy of
this release.
This press release includes “forward-looking statem ents”, including forecasts, estimates,
expectations and objectives for future operations t hat are subject to a number of assumptions, risks
and uncertainties, many of which are beyond the con trol of Azincourt. Investors are cautioned that
any such statements are not guarantees of future pe rformance and that actual results or
developments may differ materially from those proje cted 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
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com