• Road Completed,
• Drill & Crew Mobilization Underway
• Drilling to Commence This Weekend
The Company is conducting an extensive drill program for the winter of 2023, as last reported in a news release dated
C&C Road Maintenance will maintain the winter access road under the supervision of TerraLogic. The 73 km road allows access from
The primary target area on the
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.
The first drill holes will be placed on the south end of the G-Zone, to follow up alteration and cross structures intersected in Holes EP0030 and EP0037. When the second trill rig arrives on site, it will commence drilling on the K and H Zones where a significant alteration package has been identified.
“We are excited to return to the property and continue drilling where our 2022 program left off. The previous program has shown that we have a significant alteration system present on the property,” said VP, Exploration,
Community Engagement
Azincourt continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed with regards to the East Preston project. Azincourt looks forward to a continued close working relationship with
Figure 1: East Preston Project Location –
Figure 2: Road access to the
Figure 3: 2022 Drill Holes and Target areas at the
Non-Brokered Private Placement
The Company is also pleased to announce that it will conduct a non-brokered private placement of up to 8,333,333 units (the “Offering”) of the Company (each, a “Unit”) at a price of
There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at: www.azincourtenergy.com. Prospective investors should read this offering document before making an investment decision.
The proceeds of the Offering will be used to advance its primary business objective of continuing exploration and development of the
The securities issued pursuant to the Offering will not be subject to any statutory hold period in accordance with applicable Canadian securities legislation. No finders’ fees or commissions are payable in connection with the Offering. Completion of the Offering remains subject to the approval of the
About East Preston
Azincourt controls a majority 78.4% interest in the 25,000+ hectare
The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s
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
About
Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project, while pursuing an option agreement on the
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
“Alex Klenman”
Neither the
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:
Tel: 604-638-8063
info@azincourtenergy.com
1430 –
www.azincourtenergy.com
Infographics accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3ec3e7d7-8bff-4641-87b8-66acc61f05ca
https://www.globenewswire.com/NewsRoom/AttachmentNg/d7b1019b-5909-4d36-94dc-2fc9621efd9d
https://www.globenewswire.com/NewsRoom/AttachmentNg/450b0b37-58a0-4f92-8d11-0077fc415c9c
Figure 1: East Preston Project Location – Western Athabasca Basin , Saskatchewan, Canada
Figure 1: East Preston Project Location – Western Athabasca Basin , Saskatchewan, Canada
Figure 2: Road access to the East Preston Uranium Project , Western Athabasca Basin Saskatchewan
Figure 2: Road access to the East Preston Uranium Project , Western Athabasca Basin Saskatchewan
Figure 3: 2022 Drill Holes and Target areas at the East Preston Uranium Project
Figure 3: 2022 Drill Holes and Target areas at the East Preston Uranium Project
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