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Azincourt Energy To Acquire Up to 75% Interest in the Hatchet Lake Uranium Project, NE Athabasca Basin, Sasakatchewan
VANCOUVER, British Columbia, Nov. 10, 2021 (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, Nov. 10, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce that it has entered into a definitive property option agreement with ValOre Metals Corp. (the “Optionor”) (TSX.V: VO), an arms-length party, pursuant to which the Company has been granted the option (the “Option”) to acquire up to a seventy-five percent interest in the Hatchet Lake Uranium Project (the “Project”). The Project consists of a series of six mineral claims located in the Province of Saskatchewan. Hatchet Lake is 13,711-hectare uranium exploration project adjacent to the northeastern margin of the Athabasca Basin, situated along the underexplored northeast extension of the Western Wollaston Domain (WWD) within the Wollaston-Mudjatik Transition Zone (WMTZ). This highly prospective structural corridor hosts the majority of known high-grade uranium deposits and all of Canada’s operating uranium mines. Located 39km along-trend from the Roughrider and Midwest uranium deposits and within 30km of Cameco’s Eagle Point uranium mine, Hatchet Lake features multiple, shallow, unconformity-related basement uranium targets based on previous work by both Hathor Exploration Ltd. and Rio Tinto. Previous work includes geophysics, boulder, soil, lake sediment and bio-geochemical sampling. The project contains substantial historic exploration datasets with identified uranium anomalism and showings to help guide exploration programs. Two high-priority zones on the property have been identified; the Upper Manson and SW Scrimes zones. Previous work includes 140 line-km of ground geophysics and a 2007 VTEM survey that defined 30 conductive targets with a combined 53 line-km of strike length. Total sampling includes 1583 soil, 2404 bio-geochemical, and 24 radioactive rock samples returning assay results up to 2.43% U3O8 (ValOre Metals Presentation). Geochemical anomalies highlight a variety of uraniferous host rocks that are coincident with the conductive geophysical targets. Uraniferous rocks are typically referred to as containing uranium significantly above normal expected values. “Hatchet Lake increases our exposure in the world’s premier destination for uranium deposition,” said president and CEO, Alex Klenman. “This area in the NE Athabasca Basin is ground zero for uranium...