Heading Towards the Uranium Sweet Spot at East Preston

Is this the year uranium is finally gearing up for a bull run? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [Open in your browser]( [Alert] [Logo] --------------------------------------------------------------- [ALTGOESHERE]( Is this the year uranium is finally gearing up for a bull run? After the uranium spot price dipped to 12-year lows in 2016 to US$18.75, U308 has slowly been gaining traction over the last five years, having most recently hit the $31.60 mark. This has largely been influenced by the global uranium production dipping to 123 million pounds last year as a result of the COVID-19 pandemic – its lowest levels since 2008 – but hopes are high that 2021 has big things in store for the market. Case in point, a new report [from research firm]( Global Data estimates that uranium production will increase by 3.1 per cent this year to reach roughly 51,200 tons as production returns at top mines such as the Cigar Lake Mine, which is owned and operated by Cameco, and is located in Saskatchewan's prolific Athabasca Basin uranium district. The Athabasca Basin, which hosts 19 per cent of global uranium production, is home to some of the largest uranium majors in the space, but junior uranium companies are also exploring the region that investors should know about. Take Azincourt Energy Corp. ([TSX-V.AAZ]( [OTC:AZURF]( [Forum]( for example, which is a resource exploration and development company focused on alternative fuels and alternative energy. With its focus on clean energy, the company has uranium projects in the Athabasca Basin in addition to lithium and uranium projects in Peru. Within the Athabasca Basin, Azincourt is developing the East Preston uranium project with its participating partner Skyharbour Resources. Dixie Gold is the third partner in the project, but at present it is not participating in maintaining its interest in the joint venture. Azincourt Energy controls 70 per cent of the East Preston uranium project which spans 25,000 hectares and is one of the largest tenure land positions in the Paterson Lake region. The company recently announced results from the project's diamond drilling program, reporting returns of elevated uranium. Elevated uranium results from East Preston project Although the winter drilling program at the East Preston project was shorter due to an early spring break-up, the company still drilled 1,196 metres in five of the planned drill holes. Out of the five holes, anomalous and elevated uranium was identified in three of them. In total, 36 geochemical samples were collected from the holes, which were then sent to SRC Geoanalytical Laboratories in Saskatoon to be analyzed. Some of the drill highlights include: - Hole EP21004 intersected several zones of breccia and graphitic faulting and identified elevated uranium over a graphitic breccia; - EP21005 intersected several zones of shearing and graphite. Elevated uranium, boron, and base metals were identified, associated with zones of graphitic shearing; and - Hole EP21003 intersected a wide fault zone with graphitic gouge and indicated evidence of crosscutting structures. Sample analysis also shows that base metal pathfinder minerals are elevated and is indicative of the presence of uranium. Trevor Perkins, exploration manager of Azincourt, said in a press release that the results indicate the company is on the right track. "The elevated base metals and uranium show that we have uranium-bearing fluids in the area. These results will help us vector towards the sweet spot," he added. Azincourt CEO Alex Klenman said that the company is looking forward to continuing drilling thanks to these positive results. "We are seeing anomalous and elevated uranium levels in these most recent holes, and we've established the presence of uranium-bearing fluids. Based on these positive results we're eager to continue drilling as soon as possible and get more holes into the areas where we're seeing these elevated values," Klenman said. Summer 2021 drilling and beyond As we move into the summer months and the halfway mark of the year, Azincourt Energy is gearing up for its summer drilling programs. Plans include an airborne radiometric survey in the southern region of its property, a field mapping and prospecting program to ground truth anomalies and a diamond drilling program with the goal of completing roughly 1,00 metres of drilling that didn't get done during the shortened winter program. Planning is also underway for a 6,000 metre drilling program, which will include completing 25 to 30 drill holes during winter 2021. A long-term investment opportunity in a bullish uranium market As the new green economy increases in notoriety, so does investment opportunities in this niche sector. The new green economy is defined as low carbon and resource efficient and companies like Azincourt Energy are making moves in this market. Case in point, the company changed its name to reflect clean energy alternative fuel projects it is developing. That being said, the East Preston project remains its core focus and Azincourt Energy is certainly bullish on the uranium industry. In a [previous interview]( with Stockhouse Editorial, Klenman said, "We're funded and we're heading into a massive bull market. We just need spot to move. It's beginning to move; it's starting to show signs of life. And if you haven't lived through a uranium bull market, things happen fast, valuations explode overnight, and it's a good place to park money." As the uranium market gears up for a bull run, investors will want to keep their eyes on the market and, in particular, Azincourt Energy. With a stock price increase of 75 per cent year-to-date, the company is poised for growth as the industry bounces back. [LEARN MORE]( FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.  The advertiser featured in this Stockhouse Publishing Ltd. Alert has paid a fee in cash or stock not exceeding $5,000 to have their corporate, marketing, and promotional, information and activities featured. The information shown is solely the responsibility of the advertiser [Azincourt Energy Corp.], not Stockhouse Publishing Ltd, whose only function was as a supplier of media facilities. Any information provided is not to be construed as a recommendation or suggestion or offer to buy or sell securities. Your information is shared only with the advertiser featured in this Alert and will not be sold or rented to any other third party. The advertiser may contact you from time to time with updates. You opted in to receive this Alert, which are sent on a request-only basis. To advertise, please contact us at sales@stockhouse.com. --------------------------------------------------------------- [facebook]( [twitter]( [LinkedIn]( [stockhouse]( Stockhouse Publishing Ltd. | 1185 West Georgia Street, Suite 1605 | Vancouver | BC | V6E 4E6 | CA This email was sent to you by Stockhouse Publishing Ltd. because you consented to receive messages from us. You may [manage your subscription]( preferences at any time. You may contact our email compliance officer at compliance@stockhouse.com