Azincourt Energy Plans Phase TWO Drill Program at East Preston Uranium Project
AZINCOURT ENERGY PLANS PHASE TWO DRILL PROGRAM AT EAST
PRESTON URANIUM PROJECT
Vancouver B.C., August 8, 2019 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTC: AZURF) , is pleased to provide an update on its operationa l
plans at the East Preston uranium project, located in the western Athabasca Basin, northern
Saskatchewan, Canada.
Drill targeting and permitting are already underway and ahead of schedule. The proposed winter
2019-2020 drill program will comprise 2,000-2,500 m eters of land-based diamond drilling with a
budget of approximately $1.2M CDN. Drilling will consist of up to 15 holes in several high priority
target zones.
“I am pleased that planning for the next drill prog ram at East Preston has commenced and the
Company is fully funded to complete a substantial c ampaign this winter. We have started
prioritizing targets from the substantial, quality target inventory on the project,” said Ted O’Connor ,
director and Technical Advisor for East Preston.
The East Preston uranium project targets basement-h osted unconformity related uranium deposits
similar to NexGen’s Arrow deposit and Cameco’s Eagl e Point mine. East Preston is located near the
southern edge of the western Athabasca Basin, where the relatively shallow exploration targets have
no Athabasca sandstone cover, but this deposit styl e can have great depth extent when discovered.
The project ground is located along a parallel cond uctive trend between the PLS-Arrow trend and
Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
The property-wide helicopter-borne Versatile Time-D omain Electromagnetic (VTEM™ Max) and
Magnetic survey was completed in early 2019 and for ms the primary dataset for target
prioritization, combined with the knowledge gained from 2018 ground Electromagnetic and Gravity
geophysical surveys and the 2019 drill program.
The A Conductor Corridor now extends across the ent ire central project area. This complex, linear,
multi-conductor system hosts geologically prospecti ve graphitic basement rocks with apparent
structural upgrading and this system alone has appr oximately 15 km strike length to test. This
conductor system shows multiple long linear conduct ors 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 due to the interpreted structural complexity.
The B/C conductor system also traverses the project area, with marked changes in orientation from
NE to NW. The abrupt changes in orientation appear to occur at the intersection of a long NE
trending structures interpreted from the airborne data.
Figure 1: Target zones at the East Preston Uranium Project
Azincourt’s initial drill campaign completed in Mar ch 2019 confirmed the prospectivity of the East
Preston project. Basement lithologies and graphitic structures intersected in drilling are very simila r
and appear analogous to the Patterson Lake South-Ar row-Hook Lake/Spitfire uranium deposit host
rocks and setting.
Trace element geochemistry from East Preston drill core sampling shows anomalous results for
basement-hosted unconformity uranium deposit pathfi nder elements: Ni, Co, Cu, Zn and As
associated with graphitic intervals. Graphitic rock s hosting uranium mineralization are often
associated with Ni-Co-As; Cu and Zn sulphides in an omalous, to substantial quantities. The
presence of these pathfinder elements adds addition al information and will enhance vectoring
towards the most prospective areas of the conductor systems.
“All the work done to date, including multiple geop hysical and geochemical programs, and even
some minimal drill testing we completed last spring , has provided us with significant data on the
prospectivity of East Preston,” said president & CE O, Alex Klenman. “The data emphatically says
we are in the right place for discovery. The next step is to systematically drill some of the many
priority targets we have uncovered. We are looking forward to the next step, and we believe there
is significant growth ahead for Azincourt,” continu ed Mr. Klenman.
Figure 2: Project Location – Western Athabasca Basi n, Saskatchewan, Canada
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 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.
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.
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 has assisted in
prioritizing targets.
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.
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 the Company, 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 East
Preston uranium project in the Athabasca Basin, Sas katchewan, 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 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