The East Preston uranium project is one of two strategic Canadian uranium projects being advanced by Azincourt
The Company intends to conduct follow up exploration at clay alteration zones discovered at East Preston in 2023/2024
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - AZINCOURT ENERGY CORP.(TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), provides an update on proposed exploration activities at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada.
SUMMARY
The East Preston uranium project is being advanced by Azincourt in addition to its recently acquired Snegamook Uranium Deposit - which the Company intends to advance to resource status in its 2025 work program.
The East Preston project is located near the southern edge of the western Athabasca Basin, along a parallel conductive trend between the PLS-Arrow trend and Cameco's Centennial deposit (Virgin River-Dufferin Lake trend).
Three prospective conductive, low magnetic signature corridors have been discovered at East Preston. The targets are basement-hosted unconformity related uranium deposits similar to NexGen's Arrow deposit and Cameco's Eagle Point mine.
Azincourt intends to conduct follow-up exploration programs to continue testing the clay alteration zones with elevated uranium that were identified in the winters of 2023 and 2024, with a focus on the K and H Zones (areas of dravite and kaolinite clay alteration zones - see figures 2, 3 below).
Fall 2025 Geophysical Program
The Company is planning a geophysical program for the fall of 2025 on portions of the East Preston project. The feasibility of a radon flux survey over portions of the K- and H-Zones to assist in refining drill targets within previously identified alteration zones is being explored. This type of survey has been useful in highlighting radon anomalies which have either confirmed or led to the discovery of several uranium showings and deposits, including Azincourt's recently acquired Snegamook Deposit in the Central Mineral Belt in Labrador.
Winter 2026 Diamond Drilling Program
The Company is also planning for a potential follow-up drill program for the winter of 2026, consisting of up to 1,500 meters of drilling in 5 diamond drill holes. The focus of this program would be to continue testing the clay alteration zone with elevated uranium that was identified in the winters of 2023 and 2024 with a focus on the K and H Zones (Figure 2). Targets will be refined with results from the Radon flux survey carried out in the fall.
The program is anticipated to utilize one helicopter supported drill rig based from a local contractor camp. The use of a helicopter for support results in reduced disturbance due to not needing to open an access road to site. Drill and crew mobilization to site would commence as early as mid to late February when daylight hours are long enough to facilitate reasonable working conditions.
The planned budget for these programs is C$1.7-2mm. More details will be released as plans are refined and the Company commences preparations.
"We would like to continue our work on East Preston and to take a closer look at the clay alteration in the K- and H- Zones", commented VP Exploration Trevor Perkins. "This alteration zone indicates that we are on to something. A significant number of deposits in the Athabasca Basin have been found by identifying and chasing these types of alteration patterns. In the short term, we will continue to adopt techniques to assist in narrowing our focus and see where this trend takes us," 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.
East Preston Project
Azincourt controls a majority 86.5% interest in the 21,000 hectare East Preston Project. 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).
Permitting and Community Relations
Permits are in hand to conduct exploration activities at the East Preston property through the summer of 2026. Azincourt 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 the Clearwater River Dene Nation 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. K and H Zones marked with yellow star.
Figure 2: Zones at the East Preston Uranium Project with the areas of dravite and kaolinite clay alteration highlighted in red, overlain on 2023 drill hole location map.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the Company by C. Trevor Perkins, P.Geo., Vice President, Exploration and a Qualified Person as defined by National Instrument 43-101.
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 critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Snegamook advanced stage uranium project in the Central Mining Belt, Labrador.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Alex Klenman" Alex Klenman, President & CEO
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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.
