Latest news with #AzincourtEnergy
Yahoo
12-05-2025
- Business
- Yahoo
Azincourt Energy Provides Update on the Harrier Uranium Project
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - AZINCOURT ENERGY CORP. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), is pleased to provide an update on compilation work on the recently acquired Harrier Project in the Central Mineral Belt in Labrador, Canada. SUMMARY Azincourt's 49,400 ha Harrier Project, which also contains the Company's existing Snegamook Uranium Deposit, is directly adjacent to and on trend with Atha Energy's Moran Lake C (9.6 Mlbs U₃O₈) and Anna Lake (4.9 Mlbs U₃O₈) deposits, and Paladin Energy's Michelin Project (127.7 million lbs U₃O₈). In addition to the Snegamook Deposit, high-grade uranium has been identified elsewhere at Harrier Lake - with surface samples up to 7.48% U₃O₈ and 14 mineralized zones across the property. Minimal historic drilling (124 holes) leaves significant untapped discovery potential. Azincourt's 2025 field work and 2026 drill program aim to unlock value across this underexplored, uranium-rich corridor. Central Mineral Belt: A Re-Emerging Uranium Frontier Labrador's Central Mineral Belt ("CMB") is one of Canada's most underexplored yet highly prospective uranium regions. Known for its numerous uranium and base metal deposits and showings, the CMB has seen renewed interest due to growing global demand for secure, domestic uranium supply as countries aim to increase nuclear power capacity to meet net-zero emissions goals. The CMB hosts multiple large-scale uranium discoveries, including Paladin Energy's Michelin Uranium Project (127.7 million lbs U₃O₈), the Moran Lake C Deposit (historical resource of 9.6 Mlbs U₃O₈ and 11.8 Mlbs V₂O₅), and the Anna Lake Deposit (historical resource of 4.9 Mlbs U₃O₈). These known resources demonstrate the Belt's exceptional uranium endowment - but vast areas remain underexplored, with modern techniques only recently being applied across the region. With its stable jurisdiction, historical high-grade discoveries, and modern exploration momentum, the CMB is emerging as one of North America's most exciting uranium exploration corridors. Figure 1: Azincourt land position overlain on the geology of the Central Mineral Belt, Labrador, Canada To view an enhanced version of this graphic, please visit: The Harrier Project: A Strategic Position in the CMB Azincourt's Harrier Project - now expanded to include its previously acquired Snegamook Deposit - at 49,400 hectares represents one of the largest land positions in the Central Mineral Belt. The Harrier Project straddles key uranium-bearing structural corridors directly adjacent to and on trend with Atha Energy's Moran Lake and Anna Lake projects, and Paladin Energy's Michelin project - placing Azincourt at the center of a proven and growing uranium camp. The Harrier Project, with over a dozen known uranium mineralization zones and surface rock samples grading up to 7.48% U₃O₈ (and >1.0% U₃O₈ in 10 distinct zones), offers a rare combination of grade, scale, and geological continuity. Notably, only 124 drill holes (19,851 metres total, over half of this on the former Snegamook project area) have ever been completed across the combined property - leaving ample opportunity for new discovery with modern methods. Harrier Project and Snegamook Deposit: Uranium Mineralization and Geology Figure 2: Azincourt's Harrier Project. To view an enhanced version of this graphic, please visit: The Harrier Project includes 14 identified zones containing known uranium mineralization. At this time, we are providing additional information on two areas which cover four of these prospects, the Moran Heights Prospect and the Boiteau Lake area. These areas are along trend to the northeast from the Moran Lake C uranium deposit. Additional prospects and areas will be disclosed further as the compilation progresses and field work to confirm and examine the property is undertaken. The Snegamook Deposit and prospect to its southeast were discussed in a news release dated March 18, 2025. Moran Heights Prospect The Moran Heights Prospect is underlain by a sequence of sandstone, conglomerate and minor intercalated volcanic flows. These rocks are overlain by a thick sequence of subaerial bimodal volcanic rocks ranging from andesite and basaltic andesite to ignimbrites and rhyolite. The prospect is along trend of, and in a similar geologic setting as the Moran Lake C uranium deposit. Several companies have been involved in working the area over the years. Uranium was initially discovered in 1978 with the initial showing consisting of 11 boulders averaging 0.66% U3O8. In 1979 one drill hole returned 0.062% U3O8/ 0.3 m, and a boulder sample collected that same year averaged 2.36% U3O8. Trenching uncovered a slightly mineralized outcrop with a sample returning 44 ppm U. An extensive field program in 2006 consisted of 25 reconnaissance drill holes which retuned varying amounts of uranium up to 0.2% U3O8. In addition, boulder sampling returned grades up to 3.74% and include an outcrop sample that assayed 5.83% U3O8. In 2024, Koba Resources Inc. ("Koba") collected high-grade samples of 7.2% (boulder) and 7.48% U3O8 (outcrop). In addition, historical results include an outcrop sample that assayed 5.83% U3O8. Figure 3: General geology map of the Moran Heights area. To view an enhanced version of this graphic, please visit: The Boiteau Group The Boiteau group consist of 9 licences covering 15,700 ha. This is the northernmost block of the Harrier Project and straddles the Kanariktok Bay Shear Zone (KSZ, Figure 1). The licences are underlain by a sequence of sandstone, conglomerate, and massive volcanic flows. Airborne magnetics, Landsat imagery, air photo interpretation and ground investigation identified a 12 km long, northeast trending structural corridor located in the heart of the Boiteau claims. Although only a portion of this structural feature has been prospected in detail, significant uranium mineralization was found in 2008 in nine separate bedrock showings over a strike length of nearly 4.5 km. The Boiteau Prospect returned very high grades, including 1.48% U3O8 and 1.10% U3O8. The source of these boulders has yet to be determined. During the summer of 2024, Koba investigated a series of airborne radiometric anomalies, identifying additional high-grade uranium at the Goshawk Prospect, located 4.5 km east of the Boiteau Prospect, along a 1.25 km long radiometric anomaly. A boulder sample returned 3.68% U3O8 and 1.21% Pb. During the same program, the Falcon Prospect was identified, located 6 km south-southwest of the Boiteau Prospect, along a 700 m long airborne radiometric anomaly. A boulder sample returned 0.33% U3O8. The Company is continuing to compile additional details of historical drilling and recent groundwork at the Harrier Project and will provide more details as the process advances. Planning is underway for additional prospecting and ground truthing of anomalies during the summer of 2025. An initial summer program is being planned to evaluate additional anomalies, examine existing prospects, and examine historical drill core for the Snegamook Deposit in advance of a significant field program in 2026 which will include diamond drilling. Efforts will also be made to locate historical reconnaissance drill core for the Moran Heights area. "As we dig into the data we are receiving for the Harrier Project, the amount of work to be completed and the opportunities for discovery this presents are phenomenal," commented Trevor Perkins, Vice President of Exploration. "The acquisition of this underexplored land package in the center of the CMB is game-changing for Azincourt," continued Mr. Perkins. 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 and approved on behalf of the Company by C. Trevor Perkins, 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, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its East Preston uranium project located in the Athabasca Basin, Saskatchewan, and its Snegamook and Harrier uranium projects, located in the Central Mining Belt of Labrador. *The historical results, interpretation and drill intersections described here in have not been verified and are extracted from news releases issued by Koba, specifically on April 11, 2024, and August 20, 2024, which can be found at The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The Company considers the historical work a reliable indication of the potential of the Harrier Project and the information may be of assistance to readers. The information on the Michelin, Morin Lake C, and Anna Deposits has been extracted from the websites and investor presentations of Paladin Energy Limited and Atha Energy Corp. ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP. "Alex Klenman"Alex Klenman, President & CEO For further information please contact: Alex Klenman, President & CEOTel: 604-638-8063info@ Azincourt Energy Corp.1430 - 800 West Pender StreetVancouver, BC V6C 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. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Azincourt acquires options for full ownership of Harrier uranium project in Canada
Azincourt Energy has signed an assignment and amendment agreement with Koba Resources and its wholly owned subsidiary Uranidor Resources, along with Dean Fraser, to acquire a 100% interest in Koba's Harrier uranium project in the Central Mineral Belt in Labrador, Canada. The Harrier project spans 48,975ha and is situated next to Azincourt's Snegamook uranium project, bringing the total project area to 49,400ha. To acquire a 100% interest in the Harrier project, Azincourt will make a total cash payment of C$250,000 ($180,376) over four years, along with share issuances and exploration expenditures. Post-acquisition, the project will be subject to a 2% gross production royalty, with the option to buy back half by paying C$1m to the optionor. Additionally, the project is subject to a 0.5% gross production royalty, half of which can be bought back for a cash payment of C$250,000 to Koba. In addition to this, Azincourt has also entered into a property option agreement with Koba and Uranidor to obtain complete ownership of certain mineral claims located adjacent to and in the vicinity of the Harrier project. The staked option for the adjacent claims will require a cash payment of C$50,000 and issuance of common shares, with a 2% gross production royalty, which can be bought back for a cash payment of C$1m to Koba. Azincourt CEO Alex Klenman said: "We are very pleased to add Harrier to our project portfolio. It combines established uranium mineralisation with exceptional blue-sky developmental opportunities. "The markets have changed in the past few years, and there is perhaps less appetite for pure greenfield exploration than in the past. Uranium discovery isn't easy. This is a significant opportunity for Azincourt to dive directly into ground containing high-grade uranium. We are eager to begin systematic exploration there and to realise the value we feel is waiting to be unlocked.' With 12 zones of known uranium mineralisation, the Harrier project has seen rock samples assay more than 1% triuranium octoxide, with some high-grade results reaching up to 7.48%. The project has high-grade assay results from various prospects, with the Fish Hawk North Prospect, Brook Prospect and Moran Heights Prospect showing particularly high-grade samples. In March 2025, Azincourt received the necessary permits to commence exploration drilling at the Snegamook uranium project in the Central Mineral Belt. "Azincourt acquires options for full ownership of Harrier uranium project in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Globe and Mail
02-04-2025
- Business
- Globe and Mail
US-Canada Tariff Standoff Could Ignite a Uranium Price Spike
Uranium has become a flashpoint in an escalating trade battle between the US and Canada—one that could have far-reaching consequences for nuclear energy and supply chains. Canada supplies more than a quarter of the uranium used to power US nuclear reactors, making it a critical energy partner. However, looming tariffs on energy imports—including uranium—could disrupt this relationship and send prices higher. While the Biden administration has delayed the decision until April 2, a potential 10% tariff could trigger a similar rise in uranium prices, according to Cameco CFO Grant Isaac. As one of Canada's leading uranium producers, Cameco is closely watching the situation unfold. The US has been aggressively pushing to expand its domestic uranium production, a move supported by bipartisan lawmakers and major tech giants like Google and Microsoft, which are investing heavily in nuclear energy to power AI-driven data centers. However, there's a major hurdle—while Canada holds approximately 10% of the world's uranium reserves, the US controls just 1%. This disparity has created a growing demand for new uranium sources, particularly within North America. As the US moves to secure its energy future, junior exploration companies are stepping into the spotlight, positioning themselves to fill the gap in supply. As the US works to secure its uranium supply, companies like Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) are strategically positioning themselves to benefit from the rising demand for uranium. With an active portfolio of exploration projects, Azincourt Energy is poised to play a critical role in the evolving uranium market. Let's take a closer look at Azincourt 's approach to uranium exploration in this rapidly changing environment. A Rising Player in Uranium Exploration Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is a junior uranium exploration company strategically positioned to capitalize on growing nuclear fuel demand. With high-potential projects in Canada's top uranium-producing regions, the company is well-placed to benefit from rising global energy needs and geopolitical shifts. At the center of Azincourt Energy 's strategy is the Snegamook Uranium Project, a 423-hectare property located in Labrador's Central Mineral Belt—one of Canada's most promising but underexplored uranium regions. Strategically positioned near Paladin Energy's Michelin Deposit, one of the largest known uranium discoveries in Eastern Canada, Snegamook benefits from a geological setting that suggests strong resource potential. Despite the region's uranium-rich nature, past exploration has been limited, leaving substantial room for discovery. Historical drilling at Snegamook (2006-2008) has already confirmed uranium mineralization, with historical drilling uncovering 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 U 3 O 8. Some zones contain higher-grade uranium concentrations (e.g., 0.11% U3O8 over 3m).This suggests the presence of high-value deposits that could become increasingly attractive as global uranium demand intensifies. Snegamook is a prime candidate for further development, especially as uranium prices continue their upward trend. Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is actively compiling historical data to refine its exploration strategy. As part of its ongoing efforts, the company is assessing drilling targets to expand on past discoveries and unlock Snegamook's full potential, with the goal of establishing an initial resource estimate in the near future. With North America in need of secure uranium supply and energy independence becoming a growing priority, Snegamook could emerge as a key uranium asset in the global market. In addition to Snegamook, Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is advancing its East Preston Uranium Project, located in the Athabasca Basin—a region renowned for hosting some of the world's highest-grade uranium deposits. Situated near major uranium discoveries such as NexGen Energy's Arrow Deposit and Paladin Energy's Triple R Deposit, East Preston has attracted significant industry interest. Over $10 million has been invested into exploration since 2018, with multiple potential uranium-bearing structures identified across the property. In August 2024, drilling confirmed uranium enrichment in alteration zones, indicating that East Preston holds strong potential for further discovery. Given its location in one of the most productive uranium districts globally, East Preston remains a key long-term asset for Azincourt as the uranium market continues to evolve. Building on this, Azincourt announced a new geophysics program targeting the K and H Zones, where radon flux surveys will help refine upcoming drill targets. A winter 2026 drill program is also planned, with up to 1,500 meters of diamond drilling to follow up on earlier uranium-rich clay alteration discoveries. Led by experienced geologists with a track record of major uranium discoveries, Azincourt Energy stands out in a sector where many new entrants lack exploration expertise. This team, combined with prime exploration assets, gives the company a competitive edge as it advances its projects. With high-potential projects in two of Canada's richest uranium districts, Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is well-positioned for significant growth in 2025. As uranium prices rise and institutional interest grows, Azincourt 's assets are gaining value, positioning it as a company to watch in the coming years. Click on this link to learn more about Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF). Featured Image @ iStock Disclaimer 1) The author of the Article, or members of the author's immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Azincourt Energy Corp. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Azincourt Energy Corp.'s Digital Marketing Agency of Record (Native Ads Inc.). 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Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Azincourt Energy Corp.'s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Azincourt Energy Corp.'s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Azincourt Energy Corp.'s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Azincourt Energy Corp.'s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Azincourt Energy Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Azincourt Energy Corp.'s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Azincourt Energy Corp.'s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Azincourt Energy Corp.'s business operations (e) Azincourt Energy Corp. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, Azincourt Energy Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Azincourt Energy Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Azincourt Energy Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Azincourt Energy Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Azincourt Energy Corp. or such entities and are not necessarily indicative of future performance of Azincourt Energy Corp. or such entities. 8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by C. 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