Drilling Returns Elevated Uranium At East Preston Uranium Project

VANCOUVER- Azincourt Energy Corp. has received results from the recent diamond drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Previously reported, the winter 2021 drill program was cut short due to an earlier than expected spring break-up. As a result, only 1,195 m were completed in five (5) diamond drill holes. 36 geochemical samples were collected from three holes and sent to SRC Geoanalytical Laboratories in Saskatoon for analysis and the results have been received. The Company is pleased to report that anomalous and elevated uranium levels were encountered in three of the five holes completed.

Drillhole EP21004, targeting two parallel conductors and a gravity low in the G Zone, intersected several zones of breccia and graphitic faulting over a 50 m interval. Elevated uranium was identified above a graphitic breccia. EP21005 targeted two parallel conductors and a gravity low in the G Zone 400m along strike from EP21004. Drilling intersected several zones of shearing and graphite. Elevated uranium, boron, and base metals were identified, associated with zones of graphitic shearing.

Hole EP21003 targeted a kink in the conductor identified in the AB Zone. Drilling intersected a wide fault zone with graphitic gouge and evidence for crosscutting structures. Sample analysis indicates that base metal pathfinder minerals are elevated. Base metal enrichment is typically used as a vector towards uranium.

Holes EP21001 and EP21002 were drilled in the A Zone and encountered significant faulted and deformed lithologies associated with significant graphite. No samples were collected from these drill holes.

“These results show that we are on the right track,” said Exploration Manager, Trevor Perkins. “The elevated base metals and uranium show that we have uranium-bearing fluids in the area. These results will help us vector towards the sweet spot.

“Results from each of the limited drill programs we’ve completed to date at East Preston are more suggestive and more compelling,” said Alex Klenman, President and CEO. We are seeing anomalous and elevated uranium levels in these most recent holes, and we’ve established the presence of uranium-bearing fluids. Based on these positive results we’re eager to continue drilling as soon as possible and get more holes into the areas where we’re seeing these elevated values. We’re preparing for a substantial amount of drilling in the next eight months and look forward to ramping up our exploration efforts significantly in the months ahead.”