Azincourt Energy (AAZ.V) is building a robust project portfolio in the clean energy~clean fuel space. What they’ve has assembled thus far is impressive.
Last month we covered the company’s two advanced uranium exploration projects in the prolific Athabasca Basin of Saskatchewan with the following Guru offering…
This time round, we’re moving eastward where the focus will be on lithium (Li2O).
The price of Li2O has gone on a rip-roaring tear over the past few years.
There’s also this…
Demand for lithium is expected to rise… dramatically. Lithium is a critical component in the EV revolution that’s sweeping over the planet. It’s also an important component in the development of new grid-scale energy storage technologies that are coming on in a big way.
The Winnipeg River Pegmatite Field…
With partner New Age Metals, Azincourt is a dominant player in the Winnipeg River Pegmatite Field of Southeast Manitoba.
Azincourt’s agreement with New Age Metals covers some 14,000 hectares of prospective pegmatite rich terrain in eight key project areas.
The company currently has boots on the ground mapping and sampling prospective targets in preparation for a minimum 3,000-meter drilling program.
Reconnaissance mapping and sampling are an effective, low-cost method of identifying and confirming new pegmatite discoveries.
The Lithium 1 Project:
- Grab samples from a 2016 exploration program returned values of up to 4.33% Li2O at the Silverleaf Pegmatite.
- The Silverleaf Pegmatite was mined for spodumene back in the 1920s – the surface exposure measures some 80 by 45 meters.
- Approximately forty pegmatites are estimated to exist north of Greer Lake – another one hundred can be found further to the south.
- Lithium One is at the drill ready stage awaiting permits.
The Lithium 2 Project:
- A historical estimate from drilling in 1947 defined some 545,000 tonnes of 1.4% Li2O.*
- Twelve surface samples obtained from a 2016 field season range from .02% to 3.04% Li2O for the Eagle Pegmatite and up to 2.08% Li2O for the FD5 Pegmatite.
- The lithium-bearing Eagle Pegmatite is 1100 meters in length, up to 12 meters wide, and open at depth.
- Lithium Two is also at the drill ready stage awaiting permits.
*(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 NI 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)
Regarding the truth machine (drill rig)…
Drill permits have been applied for on the Lithium Two and Lithium One Projects and the company is awaiting approval from the province. Drilling will commence once the permits are approved.
Cat Lake, Lithman West, East Project’s:
- These project areas have historical rock and geochemical anomalies.
- The Lithman West & East Project’s are adjacent to the Tanco Mine – an underground cesium, spodumene and tantalum mine that has been in production since 1969.
- The key minerals found at Tanco include spodumene (lithium bearing), amblygonite (lithium bearing), pollucite (cesium bearing), beryl (beryllium bearing) and a host of tantalum bearing minerals.
- The Cat Lake Project is located in the direct vicinity of Quantum Minerals (QMC.V) Cat Lake Lithium Project and Equitorial Explorations (EXX.V) Cat Lake Lithium Property.
- An abundance of pegmatites spread out across the project areas represents considerable exploration upside.
Recent exploration success…
On October 30th, the company reported progress from a surface sampling program at its Lithium Two Project.
Azincourt Energy Samples High-Grade Li2O up to 3.83% at The Eagle Pegmatite, Lithium Two Project, Manitoba
Seven surface samples from the Eagle Pegmatite returned lithium values > 1%. Groundwork extended the showing some 300 meters to the west.
Equity Guru’s Lukas Kane covered the October 30th Eagle Pegmatite results in detail shortly after their release.
The November 13th news…
Here, reported progress on the company’s Lithium One Project.
Over the past few months, crews have been busy scouring the landscape mapping and sampling the area. The aim was to fine tune and prioritize drill targets for an upcoming campaign.
Results from this sampling program are impressive with nine samples exceeding 2% Li2O, five exceeding 3% Li2O, and two samples exceeding 4% Li2O…
One spodumene blade sample delivered a crazy high assay of 8.76% Li2O. Cool beans ya’ll.
In an effort to determine the purity of the spodumene, a sample of spodumene blade (sample # 172815) was extracted from the Silverleaf Pegmatite and sent for analysis. This sample yielded an assay value of 8.76% Li2O. A review of spodumene mineral data indicates that spodumene crystal can contain Li2O content from 3.73% to 8.03% Li2O. This would suggest that the spodumene crystals present in the Silverleaf Pegmatite are of a very high lithium content.
As noted in the above assay table, these grab and channel samples were obtained from the Silverleaf Pegmatite surface showing.
The Annie pegmatite, along with several other Lithium One pegmatites, were also sampled during this exploration campaign. Assays are pending (I look forward to seeing what Annie has tucked away).
Regarding these impressive grab and channel samples, Azincourt President & CEO, Alex Klenman stated:
“These are excellent results at Lithium One, the numbers are significant. These high-grade samples, combined with our earlier results at the Lithium Two Project, have provided important data that is not only extremely beneficial in the identification of priority drill targets, but they also greatly enhance our understanding of the project potential. With each round of results the viability of the projects become more compelling. We are excited to progress to drill stage and begin to unlock that potential.”
I’d be remiss in not mentioning that this sampling program also turned up significant rubidium oxide (Rb2O) values. Five samples registered > 5% Rb2O.
In addition to the high-grade lithium oxide (Li2O) results, several samples also returned significant amounts of rubidium oxide (Rb2O). Rubidium oxide is a highly insoluble thermally stable rubidium source suitable for glass, optic and ceramic applications. It is recovered commercially from lepidolite as a by-product of lithium extraction. Rubidium’s principle application is in specialty glasses used in fiber optic telecommunications systems, in addition to night-vision devices, photoelectric cells and photomultiplier tubes.
There appears to be significant pent-up potential here. What the company is finding on the surface along the Winnipeg River Pegmatite Field (WRPF) is extraordinary.
We have two compelling dimensions at WRPF. We now wait for the drills to turn to reveal that all important third dimension – depth. We shouldn’t have long to wait. Manitoba is a mining friendly jurisdiction and signatures were recently put to paper sealing an agreement with the Sagkeeng First Nation. This document, forged out a spirit of respect and cooperation, clears a path to drilling.
According to CEO Klenman, the company is scouring the globe for prospective clean energy~clean fuel projects. Their recent acquisition of three uranium-lithium exploration projects in southeastern Peru demonstrates this intent. It would be not unreasonable to expect additional property acquisitions.
Newsflow should be strong going forward.
~ ~ Dirk Diggler
Full disclosure: Azincourt Energy is an Equity Guru client. We own stock.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.