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Azincourt Energy 2020 East Preston Summer Geophysical Target Generation Program
VANCOUVER, British Columbia, July 24, 2020 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to ann
About this update from Azincourt Energy Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 24, 2020 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce plans for its upcoming summer ground geophysical program designed to generate additional drill targets at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. The 2020 summer ground geophysical targeting program is currently being planned to support future drill programs based on the existing property-wide heli-borne VTEM survey interpretation and results where numerous untested graphitic conductive corridor trends have been identified for follow up. The program will consist of helicopter-supported ground geophysical surveys including up to 33-line km of line cutting and Horizontal Loop Electromagnetic (HLEM) and up to 44-line km of ground gravity (Figure 1 – East Preston Summer Geophysical Program Location Map, below). The planned HLEM survey will identify conductor locations (HLEM) and the ground gravity survey will ideally identify areas of alteration, structural disruption, or thicker overburden due to increased glacial scouring proximal to the conductive trends that are often associated with uranium mineralizing systems. The combined results will be utilized to refine, prioritize, and better locate conductive corridors in these previously untested areas. Bingham Geoscience of Saskatoon continues to oversee Azincourt’s geophysical programs and interpretation work. It is anticipated that this summer work program will satisfy the $2.5M CDN work commitment obligation in the joint venture, earn-in agreement with Skyharbour Resources and Dixie Gold. Once the final cash consideration of $400,000 is paid to Skyharbour and Dixie, Azincourt will have earned a 70% interest in the East Preston project. “The continuing work at East Preston is all about target generation,” said President and CEO, Alex Klenman. “It’s no secret the project is already target rich. We’ve barely scratched the surface in terms of drill testing these areas. We are methodically moving the project forward by adding more critical data. This is the logical next step before we commence the next drill program. “In addition, we’re excited that we’re on the verge of reaching the spend threshold of the earn-in with our JV partne...