Azincourt Energy Corp. is pleased to have acquired of a series of three uranium-lithium exploration projects located in the Picotani volcanic field in Carabaya and San Antanio De Putina Provinces, Puno Region, in southeastern Peru.

Plans to implement a mapping and sampling program at the concessions are now in progress to help formulate a longer-term exploration strategy. Azincourt is continuing to evaluate other potential additions to its project portfolio in Peru and elsewhere.

We’re pleased to add these three projects to our portfolio, the preliminary sample numbers are very encouraging.

 

The Macusani-Crucero-Picotani area is emerging as an important uranium district, in addition to the recent lithium discoveries also made in the area. We have been interested in getting a foothold in the area for some time.  The uranium sector is clearly gearing up and we feel the timing on this is excellent.  With this addition, and our East Preston and Patterson Lake North projects in the Athabasca, we feel we are well positioned for what is potentially ahead in this space

 

Alex Klenman, President & CEO

Large Land Package

The Projects cover a combined area of 7,400 hectares of prospective exploration targets for volcanic hosted supergene/surficial uranium and lithium on the Picotani Plateau (or “mesata” in Spanish).

Emerging Uranium and Lithium District

Surface rock samples obtained in 2017 from the Escalera project were processed by ALS Minerals, in Lima, Peru, and returned values of up to 3,560 ppm uranium and 153 ppm lithium.  Historical rock samples taken from the Escalera concessions have yielded values up to 6,812 ppm uranium*.

Accessible Year-round

The projects are accessible year-round via paved/dirt road access, with a national airport only 130km to the south.

Volcanic Hosted

Regional geological settings show uranium mineralization occurs in felsic volcanics forming part of the Tertiary-Quarternary volcanic belt, which extends from the Quenamari and Picotani mesetas in southeastern Peru to Bolivia, where it encompasses the Sevaruyo and Charazani uranium districts and on into Chile and northwestern Argentina***.

Land package consists of:

  • Escalera project: 6 concessions totaling 5,500 hectares
    • Surface rock samples obtained in 2017 from the Escalera project were processed by ALS Minerals, in Lima, Peru, and returned values of up to 3,560 ppm uranium and 153 ppm lithium.
    • Historical rock samples taken from the Escalera concessions have yielded values up to 6,812 ppm uranium*.
  • Lituania concession covering 899.97 hectares
  • Condorlit concession covering 999.97 hectares

The Macusani-Crucero-Picotani Volcanic Fields have been of interest for uranium exploration since the 1980’s.  A 1981 report by the International Atomic Energy Agency** examined the Macusani-Crucero-Picotani area and concluded “…the large Crucero to Picotani basin, although having less well exposed occurrences may have more potential. Isolated outcrops of the volcanic sequence around the rim of the basin may have been available both during sedimentation and later basin evolution, leading to the accumulation of significant deposits.”

Surface rock samples obtained in 2017 from the Escalera project were processed by ALS Minerals, in Lima, Peru, and returned values of up to 3,560 ppm uranium and 153 ppm lithium.  Historical rock samples taken from the Escalera concessions have yielded values up to 6,812 ppm uranium*.

* While the Company considers sampling results from the Escalera concession to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.

** IUREP Orientation Phase Mission Report, PERU, Donald L. Hetland, Uisdean McL. Michie, August-October 1981

*** Uranium Deposits of the World, USA and Latin America, Franz J. Dahlkamp, 2010