Azincourt Energy Recieves Results of 2024 Drilling Program at the East Preston Uranium Project
AZINCOURT ENERGY RECIEVES RESULTS OF 2024 DRILLING
PROGRAM AT THE EAST PRESTON URANIUM PROJECT
• Dravite and Kaolinite clay alteration zone expanded in K and H Zones
• Illite, Dravite and Kaolinite clay alteration identified in G Zone
• Illite and Kaolinite clay alteration identified in A Zone
Vancouver B.C., August 20, 2024 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTCQB: AZURF), is pleased to announce that the sample analysis has
finally been received from the 2024 exploration program at the East Preston uranium project in the
Athabasca Basin, Saskatchewan, Canada.
The 2024 drill program consisted of 1,086 meters of drilling in four diamond drill holes completed
between March and April 2024. Drilling was focused on the K and H Zones (Figure 3) with initial
results reported in a news release dated May 28th, 2024.
Winter 2024 Diamond Drilling Program Highlights
A total of 53 samples, including four blanks and four external standards, were collected throughout
the program and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in
Saskatoon, Saskatchewan for analysis. All blanks and standards returned within expected statistical
norms.
Samples of clay alteration were analyzed by Short Wavelength Infrared Reflectance (SWIR,
sometimes referred to as “PIMA”) to confirm the clay species. A total of 53 samples were submitted
for analysis, including 33 samples from the 2024 program and 20 samples from the 2021 -2023
programs. PIMA results identify relative proportions of phyllosilicate and clay minerals including
illite, chlorite, dickite, kaolinite, and dravite. Illite and kaolinite are both indicators of hydrothermal
alteration typically found within alteration halos of unconformity associated uranium deposits.
Dravite is a boron-rich clay which is typically found within a larger clay package in close proximity
to uranium mineralization in the system. Both i llite and dravite have been identified as being
significant vectors for recent discoveries to the northwest of the East Preston project.
Analysis of the results shows several intervals with weakly anomalous uranium enrichment within
the clay alteration zones along the K, and H- target zones (Figure 3). Uranium enrichment is identified
as uranium (U) values and a uranium/thorium ratio (U/Th) above what would normally be expected
in the given rock type or area.
The highest uranium result for 2024 was returned in hole EP0058 where 16 ppm U over 1.91m,
including up to 21.9 ppm U over 0.51m was returned. This enriched zone sits above a zone of dravite
and kaolinite clay alteration. This drill hole sits within a regional illite clay anomaly extending
through the K Zone and south into the lower H Zone.
With the reevaluation and analysis of clay species in core from previous programs, the regional illite
clay alteration zone identified in 2023 has been expanded to encompass the length of the K and H
Zones as far south as hole EP0060 (Figure 2). Within this zone, many holes contain kaolinite +/ -
dravite, highlighting areas where future efforts will focus.
The reevaluation of clay species in core from previous programs has allowed the identification of
illite alteration, with intervals of kaolinite and dravite in hole EP0037, drilled in 2022 on the G Zone
(Figure 2). This hole previously identified an east -west cross -cutting structure which may be a
primary fluid conduit to follow -up. Illite and kaolinite were also identified in EP21001, drilled in
2021 on the A Zone (Figure 2).
The company considers the identification and expansion of clay alteration halos to be significant, as
major uranium discoveries in the Athabasca Basin such as McArthur River, Key Lake, and
Millennium were primarily the result of drill testing of strong alteration zones related to conductor
features. Identifying and upgrading the strong alteration zones is a significant step forward in
identifying the key areas along the conductor trends where more attention is required.
“The alteration we are seeing continues to be very encouraging,” said VP, Exploration, Trevor
Perkins. “The identification of dravite, kaolinite and illite clays with the elevated uranium along the
K and H Zones emphasizes that we are i n the right environment and identifying areas for closer
inspection along this trend. This trend will continue to be a high priority moving forward. Based on
the clay signatures in the G and A Zones, these areas will warrant a reevaluation as well,” continued
Mr. Perkins.
East Preston Targets
The primary target area on the East Preston Project is 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)
(Figure 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 2022 drill programs, the 2020 HLEM survey indicates multiple prospective conductors
and structural complexity along these corridors.
Drilling has confirmed that identified geophysical conductors comprise structurally disrupted zones
that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration,
anomalous radioactivity, and elevated uranium have been demonstrated to exist within these
structurally disrupted conductor zones.
Permitting and Community Engagement
Permits are in hand to conduct exploration activities at the East Preston property through the summer
of 2026. Azincourt re recognizes that the granting of these permits does not negate the rights of the
local communities for meaningful consultation as the project progresses. The company looks forward
to a continued close working relationship and regular consultation 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. Local businesses are engaged to provide
services and supplies and members of the Clearwater River Dene Nation and surrounding
communities have been directly employed on site or to provide support and services to keep the camp
and programs running. The involvement of the local communities is essential for continued
advancement of the East Preston Project.
Figure 1: East Preston Project Location – Western Athabasca Basin, Saskatchewan, Canada
Figure 2: Zones at the East Preston Uranium Project with the area s of dravite and kaolinite clay
alteration highlighted in red, overlain on 2023 drill hole location map.
Figure 3: 2024 East Preston Drill Hole Location map focused on the K and H Zones.
About East Preston
Azincourt controls a majority 78.4% 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 prospectively 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 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, and the Big Hill lithium project,
located in southwestern Newfoundland.
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
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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 & CEO
Tel: 778-726-3356
Azincourt Energy Corp.
1012 – 1030 West Georgia Street
Vancouver, BC V6E 2Y3
www.azincourtenergy.com