Azincourt Energy Samples High-Grade Li2O up to 3.83% at the Eagle Pegmatite, Lithium TWO Project, Manitoba
AZINCOURT ENERGY SAMPLES HIGH-GRADE Li2O UP TO 3.83% AT
THE EAGLE PEGMATITE, LITHIUM TWO PROJECT, MANITOBA
Additional high-grade samples include 2.65% and 3.64% Li2O
Ground work extends Eagle Pegmatite outcropping 300m to the west
Abundance of drill targets established for upcoming maiden drill program
Vancouver B.C., October 30, 2018 - AZINCOURT ENERGY CORP. (“Azincourt” or the
“Company”) (TSX.V: AAZ, OTC: AZURF) , in conjunction with its JV partner, New Age Metals
(TSX.V: NAM), is pleased to report recent results from the ongoing 2018 exploration program at the
Lithium Two project, Cat Lake, in south eastern Manitoba, Canada.
Lithium Two Project – Phase Two Results
The Lithium Two Project contains several known spodumene bearing pegmatites, most notably the
Eagle Pegmatite. Channel samples obtained during the phase two program at the Eagle Pegmatite
returned values from 0.12 to 3.8% Li2O (“Lithium Oxide”). In addition, phase two surface
reconnaissance and detailed mapping of the western extension as revealed up to 300m of additional
outcropping of the Eagle Pegmatite.
Samples obtained at the Eagle Pegmatite returned significant lithium values, with many returning
greater than 1000 ppm Li. Phase two assay results from the Eagle Pegmatite are outlined in the
following table. All samples were analyzed for lithium (lithium oxide), and other elements including
Cesium (Cs), Rubidium (Rb) and Tantalum (Ta):
Sample # UTM E UTM N Li2O % Cs ppm Rb ppm Ta ppm
172157 325522 5609762 1.57 81.5 2600 230
172159 325522 5609762 3.64 48.7 1320 101
172161 325614 5609749 0.12 53.9 1220 173
172162 325674 5609772 0.12 100 3480 44
172163 325640 5609767 3.83 28.8 789 52
172164 325624 5609767 1.13 77.6 1650 89.2
172165 325624 5609767 1.32 89 1680 104
172166 325450 5609761 0.77 42.3 1180 125
172173 325518 5609674 0.85 96.8 2400 66.5
172275 325803 5609788 1.03 36.7 1060 66
172276 325803 5609788 2.65 47.3 1320 55.6
172277 325855 5609806 0.89 69.3 1290 52.4
172278 325895 5609802 0.84 66.8 2310 43.9
172158 325522 5609762 0.26 46.5 1190 95.9
Table 1: Eagle Pegmatite – Phase Two 2018 Assay Highlights
Phase one sampling results from the Lithium Two Project as reported in the Company news release
of August 16, 2018, included values from 0.5% to 2.9% Li2O at the Eagle Pegmatite, and 0.9% to
3.3% Li2O at the FD5 Pegmatite. In addition, a high-purity spodumene blade sample from FD5
assayed at 7.62% Li2O. Upcoming drill programs will focus on both the Eagle and FD5 Pegmatites
at the Lithium Two project. Permits are in process with the Government of Manitoba and are expected
in the coming weeks.
“The 2018 exploration program has generated important and positive data,” said Alex Klenman,
president & CEO. “First and foremost, the lithium values obtained at both the Eagle and FD5
Pegmatites over the summer and fall are significant. The data we have now reinforces a compelling
case that not only supports the potential of the historical resource, but also leads us right into a far
more targeted drill program. With the Exploration Agreement now signed with the Sagkeeng First
Nation, we’re excited to get to the next phase of exploration and drill test these targets,” continued
Mr. Klenman.
Lithium Two Project – Eagle Pegmatite Extension
In July, Azincourt’s JV partner, New Age Metals, entered into an agreement with Grid Metals
(formerly Mustang Minerals) for the rights to explore for lithium and other elements on the claim
directly adjacent to the west of the Lithium Two Project as part of the current NAM-AAZ JV
portfolio.
During the Phase Two surface exploration the westward extension of the Eagle Pegmatite was
mapped for an additional 300 meters into the westward claim. Detailed mapping has now extended
the length of the Eagle Pegmatite outcropping to approximately 900 meters. Government and
academic data define the Eagle Pegmatite’s length at 1100 meters, which includes historic drilling
through overburden where the pegmatite remains open along strike. Samples on the west side of the
Eagle Pegmatite returned only trace lithium mineralization on surface but contained a larger
proportion of lepidolite (a lithium mica).
In geological terms, the pegmatites encountered on the Lithium Two Project are LCT Type (Lithium-
Cesium-Tantalum) Pegmatites and are in the Albite-Spodumene Subgroup. Spodumene is expressed
in the pegmatites as small green blades up to 3 centimeters in length. The Eagle Pegmatite is a west-
northwest to west-striking, vertically dipping, lenticular pegmatite dyke intruded into mafic volcanics.
The widths of the pegmatite have been measured to be between 2 to 10 meters. The Eagle Pegmatite
system appears to be a swarm of closely spaced pegmatites bodies.
Figure 1: Significant Lithium Assays at the Lithium Two Project, SE Manitoba
QA/QC Protocol
All samples were analyzed at the Activation Laboratories facility, in Ancaster, Ontario. Samples were
prepared, using the lab’s Code RX1 procedure. Samples are crushed, up to 95% passing through a 10
mesh, riffle split, and then pulverized, with mild steel, to 95%, passing 105 μm. Analyses were
completed, using the lab’s Ultratrace 7 Package; a Sodium Peroxide Fusion which allows for total
metal recovery and is effective for analysis of Sulphides and refractory minerals. Assay analyses are
carried out, using ICP‐OES and ICP‐MS instrumentation. New Age Metals implemented a QA/QC
field program with insertion of blanks at regular intervals. Activation Laboratories has their own
internal QA/QC procedures that it carries out for all sample batches.
Figure 2: Project Locator - Azincourt/New Age Lithium Portfolio, SE Manitoba, Canada
* The mineral reserve estimate cited above as part of the Lithium Two project is presented as a
historical estimate which does not conform to current National Instrument 43-101 standards. A
qualified person has not done sufficient work to classify the historical estimate as current mineral
resources or mineral reserves. Although the historical estimates are believed to be based on
reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-
101 standards, consequently, the issuer is not treating the historical estimate as current mineral
resources or mineral reserves.
Azincourt Energy – New Age Metals Lithium Joint Venture
The pegmatites in this region of southeast Manitoba are described as being a part of the Winnipeg
River Pegmatite Field. Several large lithium-bearing pegmatites exist in this region and exploration
activity in the region is increasing. This pegmatite field is host to the world-class Tanco Pegmatite,
which is a highly fractionated Lithium-Cesium-Tantalum (LCT Type) pegmatite and has been mined
in varying capacities since 1969. The LCT-type pegmatites can contain large amounts of spodumene
(one of the primary ores used in hard rock lithium extraction) and are a primary geological target in
hard rock lithium exploration. They also can contain economic qualities of tantalum and cesium as
well as other lithium bearing minerals such as mica. With eight projects totalling over 14,000 hectares
containing hundreds of pegmatites, the Azincourt-New Age JV is the largest claim holder for Lithium
Projects in the Winnipeg River Pegmatite Field, southeast Manitoba, Canada.
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on
information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New
Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and
has reviewed and approved the technical content of this news release.
About Azincourt Energy Corp.
Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition,
exploration and development of alternative energy/fuel projects, including uranium, lithium, and
other elements critical to the future.
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 responsibility for the adequacy or accuracy of this
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: 604-638-8063
Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC
V6C 2V6
www.azincourtenergy.com