Azincourt Energy (AAZ.V) is a Canadian-based resource exploration and development company focused on the alternative fuels/alternative energy sector. Their core projects are in the clean energy space, with uranium exploration projects in the prolific Athabasca Basin, Saskatchewan, Canada, and lithium/uranium projects on the Picotani Plateau, Peru.

Today, the Company announced that permits have been received for ongoing exploration activities at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada. The Company has received work authorization and permits from the Government of Saskatchewan to allow diamond drilling and limited ground geophysics through to the summer of 2026. This effectively provides access to the ground for the next three winter field seasons.

The company continues to be engaged in regular meetings with the Clearwater River Dene Nation (CRDN) and other rights holders to ensure that the concerns of the local communities are addressed regarding the East Preston project. A more in-depth engagement process will also be commencing within the next month with the La Loche Metis Local #39.

Azincourt looks forward to a continued close working relationship with CRDN 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.

“We are very excited to continue working at the East Preston project, and the granting of work permits for three years clears a critical component from the ongoing planning process,” said VP, Exploration, Trevor Perkins. “This shows faith by the government and local communities for us to continue our work in the area in a safe and environmentally friendly manner, and to continue engaging with local communities. We want to ensure that any concerns raised are dealt with to the satisfaction of all parties and that relevant information is shared to minimize impact on members of the local communities who use this land,” continued Mr. Perkins.

Planning is underway for a winter 2024 drill program focusing on the alteration zone associated with the K- and H-Zones. The exact size, scope, and budget of this program is still to be determined and will be communicated as decisions are finalized and confirmed.

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). 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, relevant clays*, anomalous radioactivity, and elevated uranium have now been demonstrated to exist within these structurally disrupted conductor zones.

Azincourt controls a majority 85% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold.

Azincourt Energy stock did break above the $0.045 zone but no momentum was achieved. The stock retested the breakout zone for days and even saw bulls step in to hammer a close above $0.045 when price dropped below intraday. With a close below $0.045 we now know that the $0.05 zone proved to be major resistance. The stock must hold above $0.03 for another chance to build momentum to the upside.

Meanwhile Skyharbour Resources looks extremely bullish. The stock is in an uptrend with higher lows and higher highs. A major resistance zone is being tested which is seeing a battle between the bulls and the bears. However, with the uptrend intact, momentum is in favor of the bulls and the stock could see a nice strong close above $0.60. If so, next targets come in over $0.75.