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Azincourt Energy Enters Year Two of Option Agreement at the East Preston Uranium Project, Athabasca Basin
VANCOUVER, British Columbia, March 27, 2018 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX-V:AAZ) (OTC:AZURF) is pleased to anno
About this update from Azincourt Energy Corp
[{"type":"text","content":" VANCOUVER, British Columbia, March 27, 2018 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX-V:AAZ) (OTC:AZURF) is pleased to announce that due to the positive outcome of its recent exploration program at the East Preston project, Athabasca Basin, Saskatchewan, the Company has paid the required $150,000 to enter year two of its current joint venture agreement with Skyharbour Resources (TSX-V:SYH) and Clean Commodities Corp (TSX-V:CLE). Numerous, high-quality drill targets were generated upon completion of the Company’s recent HLEM and Gravity geophysical surveys at East Preston. Detailed interpretation work is currently underway to delineate priority targets for future drill testing. The East Preston geophysical program consisted of 51.45 km of grid preparation, 46.05 km of horizontal loop electromagnetic (HLEM), and 40.6 km of gravity. The HLEM data was collected using a 200 m transmitter-receiver separation, and 50 m station intervals. The survey was designed to accurately identify the location of multiple conductive systems in this shallow depth to basement environment. Uranium deposits are often associated close to basement conductive trends and represent a first order criterion for discovery. Figure 1 displays the gridded 7040 Hz in-phase HLEM data, which is considered to be representative of the entire data set. The most prospective trends, based solely on conductivity, are labelled as C1 and C2. However, there are zones of mineralization within the Athabasca Basin that are not directly related to graphite content; therefore, the weaker trends should not be dismissed. Lineaments interpreted from the airborne magnetic data are also displayed, which appear to offset the HLEM conductive trends. The gravity survey recorded measurements at 50 m station intervals. Subtle gravity low anomalies can highlight areas of alteration and structural disruption. Gravity highs may represent basement topography, which are also associated with uranium deposits. This initial ground geophysical program has confirmed the interpretation of the airborne data and has yielded drill targets within previously untested corridors. “The Main Grid shows multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for base...