Azincourt Energy Completes Data Acquisition and Compilation at the Prospective Snegamook Uranium Project
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) has completed data acquisition and compilation for its Snegamook uranium project in Newfoundland and Labrador. The project, covering 423 hectares across 17 contiguous claims, contains known uranium mineralization and is strategically located near major uranium discoveries.
Historical drilling (2006-2008) by Silver Spruce Resources revealed multiple uranium mineralization lenses over a 300-metre strike length and 200-metre vertical depth, with grades ranging from 225 to 771 ppm U3O8. Notable higher-grade zones include 0.11% U3O8 over 3m. Four mineralized lenses were identified, with widths varying from 5 to 53 meters.
The company plans to verify and expand historical mineralization through a new drill program, aiming to establish an initial resource estimate. The project is positioned less than 1 km south of the Two Time Zone and near the Michelin deposit in Labrador's Central Mineral Belt.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) ha completato l'acquisizione e la compilazione dei dati per il suo progetto di uranio Snegamook in Newfoundland e Labrador. Il progetto, che si estende su 423 ettari attraverso 17 concessioni contigue, contiene mineralizzazione di uranio nota ed è strategicamente situato vicino a importanti scoperte di uranio.
Le perforazioni storiche (2006-2008) condotte da Silver Spruce Resources hanno rivelato molteplici lenti di mineralizzazione di uranio su una lunghezza di strike di 300 metri e una profondità verticale di 200 metri, con gradi che variano da 225 a 771 ppm U3O8. Zone di alta qualità notevoli includono 0,11% U3O8 su 3 m. Sono state identificate quattro lenti mineralizzate, con larghezze che variano da 5 a 53 metri.
L'azienda prevede di verificare ed espandere la mineralizzazione storica attraverso un nuovo programma di perforazione, con l'obiettivo di stabilire una stima iniziale delle risorse. Il progetto si trova a meno di 1 km a sud della Two Time Zone e vicino al deposito Michelin nella Central Mineral Belt del Labrador.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) ha completado la adquisición y compilación de datos para su proyecto de uranio Snegamook en Newfoundland y Labrador. El proyecto, que abarca 423 hectáreas a través de 17 concesiones contiguas, contiene mineralización de uranio conocida y está estratégicamente ubicado cerca de importantes descubrimientos de uranio.
Las perforaciones históricas (2006-2008) realizadas por Silver Spruce Resources revelaron múltiples lentes de mineralización de uranio a lo largo de una longitud de strike de 300 metros y una profundidad vertical de 200 metros, con grados que varían de 225 a 771 ppm U3O8. Zonas de mayor grado notables incluyen 0.11% U3O8 sobre 3 m. Se identificaron cuatro lentes mineralizadas, con anchos que varían de 5 a 53 metros.
La empresa planea verificar y expandir la mineralización histórica a través de un nuevo programa de perforación, con el objetivo de establecer una estimación inicial de recursos. El proyecto se encuentra a menos de 1 km al sur de la Two Time Zone y cerca del depósito Michelin en la Central Mineral Belt de Labrador.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF)는 뉴펀들랜드와 래브라도에 있는 Snegamook 우라늄 프로젝트에 대한 데이터 수집 및 컴파일을 완료했습니다. 이 프로젝트는 17개의 인접한 청구권에 걸쳐 423헥타르를 포함하며, 알려진 우라늄 광물이 존재하고 주요 우라늄 발견 근처에 전략적으로 위치해 있습니다.
Silver Spruce Resources가 수행한 역사적인 시추(2006-2008)는 300미터의 스트라이크 길이와 200미터의 수직 깊이에 걸쳐 여러 개의 우라늄 광물화 렌즈를 밝혔으며, 등급은 225에서 771 ppm U3O8까지 다양합니다. 주목할 만한 고등급 구역에는 3m에 걸쳐 0.11% U3O8가 포함됩니다. 5미터에서 53미터까지 다양한 너비를 가진 4개의 광물화 렌즈가 확인되었습니다.
회사는 새로운 시추 프로그램을 통해 역사적인 광물화를 검증하고 확장할 계획이며, 초기 자원 추정을 수립하는 것을 목표로 하고 있습니다. 이 프로젝트는 Two Time Zone에서 남쪽으로 1km도 채 안 되는 거리와 래브라도의 중앙 광물 벨트에 있는 미쉘린 광산 근처에 위치해 있습니다.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) a terminé l'acquisition et la compilation des données pour son projet d'uranium Snegamook à Terre-Neuve-et-Labrador. Le projet, couvrant 423 hectares à travers 17 concessions contiguës, contient une minéralisation d'uranium connue et est stratégiquement situé près de découvertes majeures d'uranium.
Des forages historiques (2006-2008) réalisés par Silver Spruce Resources ont révélé plusieurs lentilles de minéralisation d'uranium sur une longueur de 300 mètres et une profondeur verticale de 200 mètres, avec des teneurs variant de 225 à 771 ppm U3O8. Des zones à haute teneur notables incluent 0,11% U3O8 sur 3 m. Quatre lentilles minéralisées ont été identifiées, avec des largeurs variant de 5 à 53 mètres.
L'entreprise prévoit de vérifier et d'étendre la minéralisation historique par le biais d'un nouveau programme de forage, visant à établir une estimation initiale des ressources. Le projet est situé à moins de 1 km au sud de la Two Time Zone et près du gisement Michelin dans la Ceinture Minérale Centrale du Labrador.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) hat die Datenerfassung und -kompilierung für sein Snegamook-Uranprojekt in Neufundland und Labrador abgeschlossen. Das Projekt umfasst 423 Hektar über 17 zusammenhängende Ansprüche und enthält bekannte Uranmineralisierungen. Es ist strategisch günstig in der Nähe bedeutender Uranentdeckungen gelegen.
Historische Bohrungen (2006-2008) von Silver Spruce Resources haben mehrere Uranmineralisationslinsen über eine 300 Meter lange Strike-Länge und eine 200 Meter vertikale Tiefe aufgedeckt, mit Gehalten von 225 bis 771 ppm U3O8. Bemerkenswerte hochgradige Zonen umfassen 0,11% U3O8 über 3 m. Vier mineralisierte Linsen wurden identifiziert, deren Breiten zwischen 5 und 53 Metern variieren.
Das Unternehmen plant, die historische Mineralisierung durch ein neues Bohrprogramm zu überprüfen und zu erweitern, mit dem Ziel, eine erste Ressourcenschätzung zu erstellen. Das Projekt liegt weniger als 1 km südlich der Two Time Zone und in der Nähe des Michelin-Vorkommens im Central Mineral Belt von Labrador.
- Strategic location near major uranium discoveries including Two Time Zone and Michelin deposit
- Historical drilling confirmed multiple uranium mineralization lenses with significant grades
- Extensive historical data available for resource development
- Project remains underexplored with potential for expansion
- Previous resource estimate is non-NI 43-101 compliant and requires validation
- Historical digital geophysical data is not available
- Mineralization zones appear to be disrupted by fault structures to the south
AZINCOURT ENERGY CORP. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), is pleased to announce that it has completed the data acquisition and compilation of historic data available for its recently acquired Snegamook uranium project (the "Snegamook Project" or the "Project"), located in the Province of Newfoundland and Labrador.
SUMMARY
- The Snegamook Project contains known uranium mineralization and is strategically positioned near several major uranium discoveries, including Two Time, Moran, Kitts, and Jacques Lake.
- Historical drilling by Silver Spruce Resources at the Snegamook Project (2006-2008) indicated multiple lenses of uranium mineralization over a 300-metre strike length and to a vertical depth of 200 metres, with grades ranging from 225 to 771 ppm U3O8. Some zones contain higher-grade uranium concentrations (e.g.,
0.11% U3O8 over 3m).
- A preliminary non-NI 43-101 compliant resource estimate was completed in 2008 but never officially filed.
- Azincourt aims to verify and expand historical mineralization through a new drill program, with the intention of re-evaluating the Snegamook deposit and establishing an initial resource estimate.
The Snegamook Project is strategically located to the southeast of Snegamook Lake within Labrador's Central Mineral Belt and less than 1 km south of the Two Time Zone (Indicated and Inferred resource of 5.55 Mlb U3O8, June 2008)*, formerly held by Silver Spruce Resources Inc. as part of a larger land package. The Project consists of a mineral licence block comprised of 17 contiguous claims covering 423 hectares and is located near several large-scale uranium discoveries including the Two Time, Moran, Kitts, and Jacques Lake deposits. (Figure 1)
Figure 1: Snegamook Project Location Map - Central Mineral Belt, Labrador, Canada.
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The Central Mineral Belt in Labrador also hosts Paladin Energy Limited's recently acquired Michelin deposit (Measured and Indicated resource of 82.2Mlb U3O8).* Uranium was first discovered in the Central Mineral Belt in 1951 and despite hosting numerous large-scale uranium discoveries, it remains relatively under-explored. Readers are cautioned that past results or discoveries on properties in proximity to the Project are not necessarily indicative of the presence of similar mineralization on the Project.
Silver Spruce Resources conducted significant exploration work on the Snegamook Project between 2006 and 2008 consisting of airborne radiometric and magnetic surveys, follow-up prospecting, lake sediment and soil sampling, radon gas surveys, geological mapping, trenching, and diamond drilling. The success of this exploration program resulted in a preliminary resource estimate that has been made available to Azincourt. This resource estimate was never finalized or filed and consequently is not National Instrument 43-101 compliant.
Azincourt has made every effort to acquire all available historical data existing for the Project. Geophysical survey results for 2006 and diamond drilling results for 2007 were available through the online assessment report database from the Government of Newfoundland and Labrador. The Company was also able to acquire surveying data from Silver Spruce Resources, which included the 2008 diamond drilling data which was never filed for assessment. The digital geophysical data is not available however, the drilling data appears to be approximately
Between 2007 and 2008, Silver Spruce completed 44 diamond drill holes in the Snegamook area, of which 35, totalling 10,017.6 m, were within the current Snegamook Project area. This drilling, to follow up a radon gas anomaly, identified the Snegamook Zone uranium occurrence located 1.3 km along strike to the southeast of the Two Time Zone. 17 drill holes intersected a 20 to 50 m wide section of uranium bearing brecciated and altered monzodiorite with moderate to strong chlorite, hematite and carbonate alteration, the same geological setting as the Two Time Zone. (Figure 2)
Figure 2: Snegamook and Two Time Zone mineralization map
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Four mineralized lenses were traced over a strike length of 300 meters and to a vertical depth of 200 meters. The lenses are shallow dipping and vary in width from five to 53 meters with values ranging from 225 to 771 ppm U3O8. Individual one meter sample values range from 50 to 1,110 ppm U3O8, with the widest section in drill hole SN-08-8 averaging 206 ppm U3O8 over 73 meters. Mineralization and related hydrothermal alteration appear to be structurally controlled within lineaments cross-cutting the host intrusive gneissic units. The zones appear to be disrupted to the south and down dip by steeply dipping fault structures that displace the basement gneiss but remain open to the north. (Figure 3)
Figure 3: Snegamook Zone cross section.
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Two drill holes tested a radon gas anomaly 500 meters to the south of the Snegamook Zone. (Figure 2) They intersected nine meters (210 to 219 m) of 552 ppm U3O8 and five meters (191 to 196 m) of 224 ppm U3O8. Higher grade zones,
In 2008 a preliminary resource estimate for the Snegamook Zone was prepared by Silver Spruce Resources, however it was never finalized in a report or filed. The company does not consider this resource estimate to be current or NI43-101 compliant, although it will provide a good base to assist in building a compliant estimate as the historical data is analysed, and more drilling is completed on the deposit. (Figure 4) describes the resource block model from the unpublished and non-compliant preliminary resource estimate.
Despite a recent increase in activity and discoveries in the Central Mineral Belt, the Project area remains relatively underexplored. Azincourt is currently planning a drill program to confirm and expand the historical mineralization.
"Being able to get our hands on a uranium deposit that has not seen any attention in over 15 years is exciting," commented Vice President of Exploration Trevor Perkins. "We are starting from a good position with regards to an understanding of what we may have and are excited to see if we can establish an initial resource estimate at Snegamook. The chance to improve a deposit within an emerging uranium camp is a significant opportunity for Azincourt", continued Mr. Perkins.
Figure 4: Snegamook Zone block model from 2008
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*The historical interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by Silver Spruce Resources Inc on April 24, 2008, and August 12, 2008, as well as annual Management Discussion and Analysis documents filed on www.sedarplus.ca, and disclosure published on the website for Paladin Energy Limited (www.paladinenergy.com.au). The Company has not completed sufficient work to confirm and validate any of the historical data from the Snegamook occurrence. The Company considers the historical work a reliable indication of the potential of the Project and the information may be of assistance to readers.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.
About Azincourt Energy Corp.
Azincourt is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects. The Company has been a uranium explorer for over a decade and is currently active at both its Snegamook advanced exploration project in the Central Mining Belt of Labrador and its majority-owned joint venture East Preston uranium project located in the Athabasca Basin, Saskatchewan.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Alex Klenman"
Alex Klenman, President & CEO
For further information please contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 - 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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FAQ
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