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Azincourt Energy Initial Drilling Confirms East Preston Basement Prospectivity
VANCOUVER, British Columbia, June 17, 2019 (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, June 17, 2019 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce positive results from the Company’s recent phase one drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. The initial drill campaign has confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston are very similar and appear to be analogous to the Patterson Lake South-Arrow-Hook Lake/Spitfire uranium deposit host rocks and setting. A total of 552 meters of drilling was completed in three holes prior to the onset of spring break-up conditions that impacted the duration of the program. The rapid onset of spring required shifting from entirely overland-supported drilling to helicopter-supported drilling. All drill holes targeted multiple closely spaced discreet graphitic conductors with coincident gravity low anomalies often indicative of alteration or thicker overburden due to enhanced glacial scouring over altered, or structurally disrupted basement. “We are certainly very pleased with the results of the first few holes, it’s an excellent start to initial drill testing at East Preston,” said president & CEO, Alex Klenman. “We have confirmed the project contains the appropriate environment – both geologically and geochemically – that is consistent with uranium mineralization in the area. That’s a significant confirmation, and to be able to determine this at the outset is very positive development. These are the right graphitic-rich host rocks and given we have just started drilling, we’re obviously optimistic about what’s ahead. We have dozens of high priority targets yet to drill, and thanks to recent substantial institutional support we are well funded to execute a much larger phase two program. Permitting is already underway, we have the cash, and we have the targets. Our timing looks good with sector developments as well. We’re excited to get more drills in the ground and will announce details of the upcoming phase two drill campaign in the coming weeks,” continued Mr. Klenman. “We are highly encouraged with our first drill program results at East Preston,” said Ted O’Connor, Director and Tec...