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, Azincourt Energy announced it is planning a follow up drill program for the winter of 2024, consisting of 1,000 to 1,500 meters of drilling in up to five (5) diamond drill holes, with potential to expand the program. The priority will be to follow up on the clay alteration zone with elevated uranium that was identified in the winter of 2023 with a focus on the area of transition between the K- and H-Zones.
The program is anticipated to utilize one helicopter supported drill rig based from a local contractor camp, with reduced disturbance due to the lack of an access road. Drill and crew mobilization to site could commence as early as mid to late February and the program is expected to be complete by late March. The planned budget for this program is $1.5-2M CDN.
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.
“We are eager to be able to return to East Preston this year to take a closer look at the clay alteration in the K- and H- Zones”, commented VP Exploration Trevor Perkins. “This alteration zone warrants further examination and indicates that we are in the right area. 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 narrow our focus and see where this trend takes us,” continued Mr. Perkins.
Azincourt controls an approximate ~90% 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.
