Gerardo Del Real,
Editor
March 8, 2022
Azincourt Energy Corp. (TSX-V: AAZ)(OTC: AZURF), currently trading around C$0.08 per share, reports visual indications of mineralization plus elevated radioactivity — pointing to the potential for a significant uranium discovery within an 800-meter zone of alteration — at the flagship East Preston Uranium Project in Canada’s prolific Athabasca Basin.
Azincourt owns a majority interest in the 25,000-hectare (250 sq km) project via a joint venture agreement with Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) and Dixie Gold (TSX-V: DG)(OTC: YWRLF).
To date, three prospective conductive, low magnetic signature corridors with a combined total strike length of 25 km have been discovered on the property. Azincourt is currently about halfway through a 6,000-meter drill program — their largest program thus far at East Preston.
Azincourt Energy CEO, Alex Klenman — whom you’re about to hear from directly via our exclusive interview — commented via press release:
“Finding this broad zone of strong alteration is a significant development. Alteration features are a crucial guide to locating uranium mineralization. Given what we know about alteration zones and their relationship to some very well-known discoveries, finding this at East Preston is certainly an encouraging development. We will continue to focus on the K-Zone for the time being to get a better idea of the extent of the alteration and the type and level of mineralization present.”
Azincourt reports that highlight hole EP-030 has intersected the best alteration discovered to date at the project. The intercept is characterized by an extensive interval of hydrothermal hematite alteration with significant evidence of a steep east-west fault that cross-cuts the main northeast-trending structure.
A geologic mouthful to be sure… yet, it shows that the Azincourt team is seeing all the right indicator minerals in the alteration, including hematite, clays, and, as noted, elevated radioactivity both at-surface and down-hole. Importantly, some of the hematite alteration zones the company is intersecting in the current drill round are over 100 meters in thickness.
Keep in mind also that the Athabasca Basin is a premier uranium mining district with billions of dollars in market cap by way of numerous world-class discoveries by industry leaders including Cameco, NexGen, and Denison.
There’s plenty of drilling activity ahead for Azincourt in 2022 — including at Hatchet Lake, the company’s second Athabasca Basin project — which means lots and lots of forthcoming assays and, hopefully, a solid discovery hole or two from the current 6,000-meter program at East Preston.
Azincourt is well-funded with just north of C$10 million in the treasury. And, in addition to the support it receives from Skyharbour, the company has the backing of over twenty institutional funds, which is something you don’t often see in the junior exploration space — unless there are quality prospects for discovery.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Azincourt Energy CEO, Alex Klenman, to go over the current drilling along with a detailed look at the alteration the company is vectoring in on and how that lends to the discovery potential at East Preston. Enjoy!
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Azincourt Energy