Azincourt Energy Plans Inaugural Work Program at the Snegamook Uranium Project Permits received Up to 1000 meters of initial drilling planned to confirm and expand known uranium mineralization
Azincourt Energy Plans Inaugural Work
Program at the Snegamook Uranium Project
Permits received
Up to 1000 meters of initial drilling planned to confirm and expand known uranium
mineralization
Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) -
AZINCOURT ENERGY CORP.
(TSXV: AAZ) (OTCQB: AZURF)
("
Azincourt
" or the "
Company
"), is pleased to announce that it has
permitting for an exploration program at its recently acquired Snegamook uranium project (the "Project"),
located in the Province of Newfoundland and Labrador.
SUMMARY:
Azincourt Energy
has received permitting for and will begin exploration at its newly acquired
Snegamook Uranium Project
in Canada's Central Mineral Belt, near the historical Two Time
Zone deposit (Indicated and Inferred resource of 5.55 Mlb U
3
O
8
, June 2008)*.
Historical drilling at the Snegamook Project revealed
shallow-dipping uranium lenses
with
grades up to
0.11% U
O
, indicating strong potential for further discovery.
The Company's
2025 work program
includes site reconnaissance, review of historical drill core,
and up to
1,000 meters of helicopter-supported diamond drilling
to confirm and expand
known mineralization.
The Project is strategically located to the southeast of Snegamook Lake within Labrador's Central
Mineral Belt and less than 1 km south of the Two Time Zone (Indicated and Inferred resource of 5.55 Mlb
U
3
O
8
, June 2008)*, formerly held by Silver Spruce Resources Inc. as part of a larger land package, and
consists of a mineral licence block comprised of 17 contiguous claims covering 423 hectares.
Drilling to follow up a radon gas anomaly identified the
"Snegamook Zone"
uranium occurrence
located 1.3 km along strike to the southeast of the Two Time Zone (
Figure 1, below
). Four mineralized
lenses were traced over a strike length of 300 meters and to a vertical depth of 200 meters.
The lenses
are shallow dipping (15 to 20 degrees west) and vary in width from five to 53 meters with values ranging
from 225 to 771 ppm U
3
O
8
. Individual one-meter samples returned values up to 0.11% U
3
O
8
.
Figure 1: Snegamook and Two Time Zone mineralization map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/245932_2f160edf74e9bb12_002full.jpg
Mineralization and related hydrothermal alteration appear to be structurally controlled within lineaments
crosscutting the host intrusive gneissic units. The zones appear to be disrupted to the south and down
dip by steeply dipping fault structures that displace the basement gneiss but remain open to the north.
Drilling to test a radon gas anomaly 500 meters to the south of the Snegamook Zone also intersected
zones of mineralization with grades up to 0.11% U
3
O
8
over 3 m and 0.11% U
3
O
8
over 2 m.
The Company is proposing an initial program of site reconnaissance and assessment of historical core
located at the site of the old exploration camp from 2008, to be followed by up to 1,000 m of diamond
drilling to confirm the existing mineralization within the Snegamook Zone and begin to expand the
unnamed showing identified to the south.
The program is anticipated to utilize one helicopter supported
drill rig based out of a temporary work camp in the area.
All equipment and supplies would be staged out
of Happy Valley - Goose Bay, approximately 100 km to the south.
It is anticipated that the
reconnaissance phase of the program will be undertaken in June with the diamond drilling conducted in
late summer to early fall.
"We are excited to get on the ground at Snegamook and begin to expand this deposit" said Vice
President, Exploration Trevor Perkins.
"The Project has great potential, and historical work has just given
a hint of what may be in store for us to discover," continued Mr. Perkins.
Figure 2: Snegamook Project Location Map - Central Mineral Belt, Labrador, Canada.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6137/245932_2f160edf74e9bb12_003full.jpg
*
The historical interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by
Silver Spruce Resources Inc on April 24, 2008, and August 12, 2008, as well as annual Management Discussion and Analysis documents filed on
www.sedarplus.ca
, and disclosure published on the website for Paladin Energy Limited (
www.paladinenergy.com.au
).
The Company has not
completed sufficient work to confirm and validate any of the historical data from the Snegamook occurrence.
The Company considers the
historical work a reliable indication of the potential of the Project and the information may be of assistance to readers.
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, reviewed, and approved 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 is a Canadian-based resource company specializing in the strategic acquisition, exploration,
and development of alternative energy/fuel projects. The Company has been a uranium explorer for over
a decade and is currently active at its majority-owned joint venture East Preston uranium project located
in the Athabasca Basin, Saskatchewan.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Alex Klenman"
Alex Klenman, President & CEO
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
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain "Forward-Looking Statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities
laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect",
"target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking
statements or information. Such statements represent the Company's current views with respect to
future events and are necessarily based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to significant business, economic,
competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and
unknown, could cause results, performance, or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by such forward-
looking statements. The Company does not intend, and does not assume any obligation, to update
these forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements and information other than as required
by applicable laws, rules, and regulations.
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.
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