1

Azincourt Energy is on the trail for the next big uranium story

Nuclear power is increasingly recognized as a sustainable and environmentally friendly source of energy. It has the potential to improve the energy industry’s sustainability and help preserve our planet for future generations. Unlike fossil fuels, nuclear power does not produce greenhouse gasses or pollution. It is also a very efficient way to generate electricity, with a single nuclear plant providing enough power for millions of homes.

In addition, nuclear power plants have a very long lifespan and can continue to produce electricity for decades. Nuclear power offers a clean and sustainable solution as we face the challenges of climate change and the need to move away from fossil fuels. There has been some pushback from nations on nuclear energy. In the aftermath of Fukushima, all of Japan’s nuclear reactors were shut down, and the country’s uranium industry came to a standstill.

However, now Japan is preparing to restart several idled nuclear reactors and even build new ones. Dealing with sky-high prices of fossil fuels and a global power crisis, the country has decided that securing its future energy needs requires a return to nuclear energy. This change marks a major inflection point for the uranium industry, which will be closely watching Japan’s progress in the months and years to come.

Other areas of the world are also changing their tone on nuclear power. Europe is dealing with an energy crisis with the ongoing war between Russia and Ukraine. Germany is planning to delay its phasing out of nuclear plants, and France plans to build six new nuclear power plants. Nuclear power is also being increasingly seen as a “green” technology as unlike burning hydrocarbons, it does not emit carbon into the atmosphere. Uranium mining companies are poised to benefit from this renewed interest in nuclear energy.

Azincourt Energy Corp. (TSXV: AAZ | OTCQB: AZURF) has two projects in Canada that can potentially contain large deposits of uranium and other minerals. The company is actively engaged in exploring these two projects.

The East Preston Project and the Hatchet Lake Project are both progressing for potentially discovering uranium and other mineral deposits. Azincourt controls a majority 72.8% 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. In July Azincourt announced that drilling at the East Preston Project resulted in the identification of uranium enrichment within alteration zones. The company completed the drilling program over the course of the winter 2021-22 season.

This new information points to the likely presence of uranium-bearing fluids within the alteration system. Their next step is identifying the extent of the alteration, and areas of fluid concentration and strong uranium enrichment. The company plans to conduct an announced 6,000m drilling program in fall to winter 2022-23 to better understand the project’s potential.

The Hatchet Lake project is Azincourt’s other proespective property. Azincourt entered into an option agreement with ValOre Metals Corp. in November, 2021, to earn up to a 75% interest in the Hatchet Lake property. Hatchet Lake is located outside the northeastern margin of the Athabasca Basin along the Western Wollaston Domain (WWD) within the Wollaston-Mudjatik Transition Zone (WMTZ). This entire area is already inhabited by all of Canada’s operating uranium mines.

The surrounding areas are largely unexplored, which makes this a great potential opportunity for Azincourt. Based on previous work from Hathor Exploration Ltd. and Rio Tinto, there is a possibility that Hatchet Lake has multiple shallow, unconformity-related basement uranium targets. The company plans to carry out a geophysics and 1,500 m drill exploration program in fall 2022 at Hatchet Lake in order to better understand and advance the project.

It is early days in the exploration of Hatchet Lake and East Preston for Azincourt, but as CEO and President Alex Klenman recently stated: “Our treasury is extremely strong, and we’re fully funded to execute all of our exploration plans over the next year, and beyond. We’re going to be very active and plan to be aggressive with the drills.”




Assay results to guide Azincourt Energy discoveries at its East Preston uranium project

Azincourt Energy Corp. (TSX: AAZ | OTCQB: AZURF) (Azincourt) is a junior miner focused on uranium in the world-renowned Athabasca Basin, Saskatchewan, Canada. They also have some uranium and lithium projects in Peru which they recently agreed to option out to Oberon Uranium Corp.

Azincourt has recently completed a 5,004m 19 drill hole winter program at their East Preston Project, in the Athabasca Basin, Saskatchewan, Canada. Assay results are expected from April to June, 2022. Azincourt stated in their news release: “With the discovery of at least 1,700 meters of extensive hydrothermal alteration and elevated radioactivity, the Company considers the results of this program to be highly significant.” On the north-south trending K-Zone a “zone of localized elevated radioactivity more than 10 times background values was identified in EP0035 from both handheld scintillometers and a downhole gamma probe.”

Azincourt President and CEO, Alex Klenman, stated: “The discovery of these alteration zones, both along the same trend, covering almost two kilometers of ground within these two separate zones, is a very important development… With 5,000 meters of drilling we were able to establish 1,700 meters of alteration, that’s a pretty good ratio. We know that alteration is associated with uranium deposition, acting as a halo proximal to deposition. The area in and around these zones is now a clear priority for continued drilling. The assay results will give us a really good idea of what we’re into and we’re eager to see what comes back from the lab.”

Azincourt VP, Exploration, Trevor Perkins, stated: “The results from the winter drilling program are very encouraging… The extensive alteration zones and elevated radioactivity are significant signs that we are on the right track. Alteration and structure continue to be the key features to guide us towards discovery…”

Translated for those investors not so familiar with mining terminology, the drill results at the East Preston Project are very promising and point toward the potential discovery of uranium; however, we won’t know for sure until we get the assay results from April to June, 2022.

Location map showing Azincourt’s tenements at the East Preston Project and nearby projects and mines (including Cameco) in Canada’s renowned high grade uranium Athabasca Basin

Source: Azincourt Energy Corp.

$5.1 million Private Placement and 2.5-to-1 Share Consolidation

In what appears to be another positive indicator for Azincourt, not long after completing their East Preston drill program, they were able to raise C$5,101,000 in a non-brokered private placement with institutional investors. Azincourt also completed a 2.5-for-1 share consolidation.

More about Azicourt Energy and their 3 projects

Azincourt’s projects include:

  • East Preston Project (72% interest) – A uranium project in the Athabasca Basin, Saskatchewan, Canada.
  • Hatchet Lake Uranium Project (earning into a 75% interest) – A uranium project in the Wollaston–Mudjatik Transition Zone area of Saskatchewan, Canada. Some details here.
  • Escalera Group Project (100% owned, LOI to option out to Oberon Uranium Corp.) – A uranium and lithium group of projects (Lituania, Condorlit, Escalera) in Puno, Peru.

Closing remarks

Azincourt has put in the work to identify and now drill numerous positive uranium targets at their 72% JV East Preston Uranium Project. The Athabasca Basin region is known to have the highest grade uranium in the world. This means if a company can find significant high-grade uranium in the region it can be a company making event.

Azincourt Energy Corp. trades on a market cap of only C$34 million. Fingers crossed as we await assay results expected very soon.




Alex Klenman gives an update on Azincourt Energy and why this uranium junior is in the right place at the right time

In a recent InvestorIntel interview, Tracy Weslosky interviews Azincourt Energy Corp.‘s (TSX: AAZ | OTCQB: AZURF) President and CEO Alex Klenman about Azincourt’s latest developments and why he feels the Company is in the right place at the right time.

The interview, which may also be viewed on the InvestorIntel YouTube channel (click here to subscribe), highlights how Azincourt has a share register with 28 institutional investors, a fact that interviewer Tracy Weslosky describes as “absolutely unheard of for a company your size”. Alex Klenman comments on the latest drill program at the Company’s East Preston Project in the Athabasca Basin in Saskatchewan, Canada where drilling has so far discovered ‘1,700m of alteration zones’ that are typically associated with uranium mineralization. Finally, Alex Klenman talks about the uranium market and supply disruption concerns following the war in Ukraine.

To watch the full interview, click here

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 majority controlled joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

To learn more about Azincourt Energy Corp., click here

Disclaimer: Azincourt Energy Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].




Azincourt Energy Is Drilling for Uranium in the right place, Canada’s Prolific Athabasca Basin

USA bans Russian oil, gas, coal, but not uranium. How will Russia respond?

As U.S President Biden gives the Executive Order today to ban Russian oil, liquefied natural gas and coal the White House Fact Sheet gives a clue as to where the energy market is heading.

“Today, President Biden will sign an Executive Order (E.O.) to ban the import of Russian oil, liquefied natural gas, and coal to the United States…….In the long run, the way to avoid high gas prices is to speed up – not slow down – our transition to a clean energy future……..this crisis reinforces our resolve to make America truly energy independent, which means reducing our dependence on fossil fuels.”

President Biden has made it very clear that his vision for a green energy future means wind, solar, and smart nuclear. So today’s ban of Russian oil, gas & coal is a big win for the clean energy sector. Consumers are already facing record prices at the gas pump, which will lead to a faster adoption of electric vehicles. These vehicles will need a stable baseload power source such as nuclear to support the intermittent renewable energies of solar and wind.

All of this is bullish for uranium and lithium. Today’s company is focused on just that.

Azincourt Energy Corp. (TSXV: AAZ | OTCQB: AZURF) (“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.

Azincourt’s 3 projects

  • East Preston Project (72% interest) – A uranium project in the Athabasca Basin, Saskatchewan, Canada.
  • Hatchet Lake Uranium Project (earning into a 75% interest) A uranium project in the WollastonMudjatik Transition Zone area of Saskatchewan, Canada. Some details here.
  • Escalera Group Project (100% owned) A uranium and lithium group of projects (Lituania, Condorlit, Escalera) in Puno, Peru.

The Athabasca basin is home to multiple large very high grade uranium mines and projects

Source

East Preston Project progressing with road and camp built and drilling underway

Azincourt has had a very busy past 3 months at their East Preston Project. The 73 km winter road to access the property and campsite has been completed.

The 2022 drill program at the East Preston Project includes 6,000m of drilling over 30-35 drill holes, throughout the months of January and February and into March. The primary target area for the 2022 program is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the Q-Zone (K-Q Trend). Permits are in place to complete all the planned work through the winter of 2022. The program is funded and boosted by a recent C$390,250 non-brokered private placement.

Drilling zones shown at the East Preston Project

Source

Regarding the drill results to date at the East Preston Project, Azincourt stated on March 1, 2022:

“We are very excited by the results coming in so far,” said VP, Exploration, Trevor Perkins. “Both the G- and K-Zones are responding incredibly well, and the team is very excited by what they are seeing in the core. The results show that there is still a good deal of work to be completed in these areas and I can’t wait to see what the follow-up drilling reveals,” continued Mr. Perkins.

“Finding this broad zone of strong alteration is a significant development,” said president and CEO, Alex Klenman. “Alteration features are a crucial guide to locating uranium mineralization. Given what we know about alteration zones and their relationship to some very well-known discoveries, finding this at East Preston is certainly an encouraging development. We will continue to focus on the K-Zone for the time being to get a better idea of the extent of the alteration and the type and level of mineralization present,” continued Mr. Klenman.”

The first shipment of core samples from the current drill program were scheduled for delivery last week to be delivered to the SRC Geoanalytical Lab in Saskatoon. Azincourt expects to receive full suite assay results in early April.

Closing remarks

As we move away from fossil fuels and electrify our transport systems the West will need a ‘secure’ supply of uranium. For now the U.S ban on Russian energy imports (oil, gas, coal) does not include uranium. However, the West relies heavily on Russian-Kazakhstan uranium, which the Russians could choose to cut supply at any time. Russia has recently threatened to ban gas exports to Europe, which would lead to shock waves in the colder areas relying on Russian gas.

The highest grade and best location to find a ‘secure’ supply of uranium is in the Athabasca Basin of Canada. Azincourt is currently drilling their flagship East Preston Project in the Athabasca Basin.

A highly successful drilling campaign can potentially be a game-changer for a small company such as Azincourt Energy Corp., which trades on a market cap of C$39 million. Investors eagerly await news of the drill results in the coming months. Stay tuned.




Making the right moves at Azincourt as uranium prices drive higher

Uranium prices  are running hot, so today I take a look at a uranium junior that has two uranium projects with exploration upside. One project is in the prolific uranium region of the Athabasca Basin in Canada, and the other is in the emerging uraniumlithium district on the Picotani Plateau in Peru. The Peru property also shows early signs of lithium.

The company is Azincourt Energy Corp. (TSXV: AAZ | OTCQB: AZURF) (“Azincourt”).

Uranium prices have risen about 50% higher over the past 2.5 months, and are now at US$46.10

Source: Trading Economics

Azincourt Energy Corp.’s uranium projects:

East Preston Project (Saskatchewan, Canada) (Azincourt 70%, Skyharbour Resources 15%, Dixie Gold Inc. 15%)

Azincourt controls a 70% interest in its flagship, East Preston Project, having spent C$2.5 million on the project and having paid C$1 million in cash to the option partners since 2017. The Project covers over 25,000 hectares in the western Athabasca Basin, Saskatchewan, the world’s premier location for uranium mining. 

The Project has a large inventory of priority drill targets identified within 25km of prospective exploration corridors delineated through multiple geophysics and ground evaluation programs. Multiple long linear conductors are giving positive signals warranting further drilling. To date, 4,178 meters in 17 holes have been drilled at the East Preston Project.

Azincourt state: “Limited drilling has confirmed basement lithologies and graphitic structures intersected at East Preston are very similar and appear to be analogous to the Patterson Lake SouthArrowHook Lake/Spitfire uranium deposit host rocks and setting. Drilling has established the right basement unconformity uranium setting rocks, structure and alteration. The recognition of what is believed to be a basement analogue to uranium depositrelated REE mineralization and alteration suggests that mineralizing fluid systems were active on the project at the right time.”

A 2021-22 Winter drilling campaign is planned. Targets include areas of elevated uranium discovered in the 20202021 drilling campaign. Preparation work is slated to begin in December 2021, with drilling to commence early January 2022. Permits and funding are in place.

Azincourt’s East Preston flagship Project is located near multiple highly valued uranium projects in the prolific Athabasca Basin, Saskatchewan, Canada

Source: Azincourt company presentation

Escalera Group Project (Puno, Peru) – 100% (Vendor retains a 1.5% NSR royalty)

The Escalera Group consists of three concessions (Lituania, Condorlit, Escalera) covering an area of 7,400 hectares of prospective exploration targets for volcanic hosted supergene/surficial uranium and lithium on the Picotani Plateau, Puno district, Peru. This region is an emerging uraniumlithium district where mines and projects are owned by Minsur and Rio Tinto, as well as growing mid-tiers and juniors like Bear Creek Mining and Plateau Energy Metals (recently acquired by American Lithium).

A 2017 sampling program produced values up to 3,560 ppm uranium and 153 ppm lithium. Historical surface samples from Escalera show assays up to 6,812 ppm uranium. A 2018 groundwork returned samples as high as 8,061 ppm uranium while delineating over 6.5 km of prospective trends at the Escalera concession.

Management

Azincourt’s President and CEO is Alex Klenman. He has over 30 years of business development, marketing, finance, media and corporate communications experience. From 2010-2014, he was Vice-President, Communications, and a partner with Falcon Point Capital Partners, a firm that provided finance, communications and marketing initiatives for TSX Venture listed resource companies.

Exploration Manager Trevor Perkins is a 25-year experienced geologist with a successful track record, notably in the Athabasca Basin, Saskatchewan, Canada. He has worked for UEX Corporation, Rio Tinto, and (spent a decade with) Cameco Corporation.

World power sources in 2020

  • Coal – 35%
  • Natural gas – 25%
  • Hydro – 16%
  • Nuclear – 10%
  • Renewables (solar, wind, geothermal) – 12%

Source: Reuters courtesy BP Statistical Review of World Energy

Closing remarks

The world’s attention is now on COP26 in Glasgow as investors await  announcements of progress. There is increasing pressure to ban the construction of new coal power stations; however to replace this source (coal) of baseload power many countries will need to use smart nuclear with safely located smaller nuclear power stations. This in turn will  help drive future demand for uranium.

Uranium juniors such as Azincourt Energy Corp. are well placed to grow in future years to meet an expected strong uranium demand. In particular its East Preston Project is well located, being in a prolific uranium region of the Athabasca Basin, which has the largest, highest grade, uranium deposits in the world with 10 times, or higher than, world average grades. Azincourt has recently raised C$8.1 million with which it intends to focus on the upcoming 30 to 35 hole, 7,000 metre, drill program at its East Preston uranium project in the Athabasca Basin.

Investors will need  patience and risk tolerance; however given that Azincourt Energy Corp. trades on a market cap of only C$34 million and that it owns two well-placed uranium projects, there is plenty of upside ahead should it succeed. Stay tuned as this sector is moving fast.