Azincourt Energy Samples High-Grade Lithium Oxide (Li2O) at the Lithium One Project, Southeast Manitoba

• Assays up to 4.1% Li2O received from the Silverleaf Pegmatite
• Additional high-grade samples return 3.04%, 3.37% and 3.90% Li2O
• High purity spodumene blade sample from Silverleaf assays 8.76% Li2O
• Samples also return up to 6.1% Rb2O (Rubidium Oxide) 

VANCOUVER, British Columbia, Nov. 13, 2018 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), in conjunction with its JV partner, New Age Metals (TSX.V: NAM), is pleased to announce exploration results from the Lithium One Project, located 125 kilometers northeast of Winnipeg, Manitoba, as part of the Winnipeg River Pegmatite Field.

Crews have been active at Lithium One throughout late summer and into the fall executing a comprehensive ground reconnaissance program (detailed mapping and sampling) designed to help prioritize targets for upcoming drill programs.  Sampling at Lithium One has generated significant results, with several returning high-grade lithium oxide (“Li2O”).  Nine samples exceeded 2% Li2O, five samples exceeded 3% Li2O and two samples exceeded 4% Li2O.  See table below:

Silverleaf Pegmatite – Lithium One Project – 2018 Assay Results

Table 1: Silverleaf Pegmatite – 2018 Sample Assay Results (see Figure 3 for sample locations)

Samples were obtained from the surface exposure of the Silverleaf Pegmatite. Samples include grab and channel samples with the dominant geological unit exposed on surface being the Spodumene-Lepidolite Zone.  Sample locations are referenced in accompanying Figure 3. The Annie and other pegmatites from the Lithium One Project have also been sampled and assay results are currently pending.

“These are excellent results at Lithium One, the numbers are significant,” said president & CEO, Alex Klenman.  “These high-grade samples, combined with our earlier results at the Lithium Two Project, have provided important data that is not only extremely beneficial in the identification of priority drill targets, but they also greatly enhance our understanding of the project potential. With each round of results the viability of the projects become more compelling.  We are excited to progress to drill stage and begin to unlock that potential,” continued Mr. Klenman.

Drill permits have been applied for on the Lithium Two and Lithium One Projects and the company is awaiting approval from the province.  Drilling will commence once the permits are approved.

High Purity Spodumene

In an effort to determine the purity of the spodumene, a sample of spodumene blade (sample # 172815) was extracted from the Silverleaf Pegmatite and sent for analysis. This sample yielded an assay value of 8.76% Li2O.  A review of spodumene mineral data indicates that spodumene crystal can contain Li2O content from 3.73% to 8.03% Li2O.  This would suggest that the spodumene crystals present in the Silverleaf Pegmatite are of a very high lithium content.

Rubidium Oxide

In addition to the high-grade lithium oxide (Li2O) results, several samples also returned significant amounts of rubidium oxide (Rb2O).  Rubidium oxide is a highly insoluble thermally stable rubidium source suitable for glass, optic and ceramic applications.  It is recovered commercially from lepidolite as a by-product of lithium extraction. Rubidium’s principle application is in specialty glasses used in fiber optic telecommunications systems, in addition to night-vision devices, photoelectric cells and photomultiplier tubes.

Figure 1: Map showing the eight project locations in the AAZ-NAM JV portfolio, SE Manitoba
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This Pegmatite Field is host to the world-class Tanco Pegmatite, which has been mined since 1969 for tantalum, cesium, and spodumene. Historically the Lithium One Project area is known for the presence of numerous surface pegmatites of various dimensions and compositions.

The Silverleaf Pegmatite (Figure 3) is a zoned complex lithium-bearing pegmatite with a surface exposure of approximately 80 meters x 45 meters. The pegmatite is exposed in the northeast and strikes under cover to the southwest.  Samples taken from the Lepidolite-Spodumene Zone yielded assays from 1.81% to 4.09% Li2O and 0.63% to 6.11% Rb2O.

Figure 2: Historical pegmatite location map – northern portion, Lithium One Project
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The Lepidolite-Spodumene Zone is approximately 50 meters x 20 meters in size and extends into an historic excavated open pit. The historic open pit area originates from the late 1920s, when a bulk sample of spodumene was mined from the southwest side of the Silverleaf Pegmatite. Large scale mining operations were not undertaken at that time. The area has seen sporadic exploration activity over the years with focus on base metals and tantalum with minor exploration for lithium. 

Figure 3: Geological mapping & sample locations, Silverleaf Pegmatite, Lithium One Project
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In geological terms, the Silverleaf Pegmatite and others encountered on the Lithium One Project are LCT Type (Lithium-Cesium-Tantalum) Pegmatites.  The spodumene blades at the surface of the Silverleaf Pegmatite can reach a length of up to 40 centimeters and a width of 10 centimeters (see Figures 4 and 5). The spodumene blades are surrounded by lithium bearing purple micas (lepidolite).

Figure 4:  Spodumene – Lepidolite Zone, Silverleaf Pegmatite, Lithium One Project
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Figure 5: Spodumene blades – Lithium One Project – Silverleaf Pegmatite
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QA/QC Protocol

All samples were analyzed at the Activation Laboratories facility, in Ancaster, Ontario. Samples were prepared, using the lab’s Code RX1 procedure. Samples are crushed, up to 95% passing through a 10 mesh, riffle split, and then pulverized, with mild steel, to 95%, passing 105 μm. Analyses were completed, using the lab’s Ultratrace 7 Package; a Sodium Peroxide Fusion which allows for total metal recovery and is effective for analysis of Sulphides and refractory minerals. Assay analyses are carried out, using ICP‐OES and ICP‐MS instrumentation. New Age Metals implemented a QA/QC field program with insertion of blanks at regular intervals. Activation Laboratories has their own internal QA/QC procedures that it carries out for all sample batches.

Azincourt Energy – New Age Metals Lithium Joint Venture

The pegmatites in this region of southeast Manitoba are described as being a part of the Winnipeg River Pegmatite Field.  Several large lithium-bearing pegmatites exist in this region and exploration activity in the region is increasing. This pegmatite field is host to the world-class Tanco Pegmatite, which is a highly fractionated Lithium-Cesium-Tantalum (LCT Type) pegmatite and has been mined in varying capacities since 1969. The LCT-type pegmatites can contain large amounts of spodumene (one of the primary ores used in hard rock lithium extraction) and are a primary geological target in hard rock lithium exploration. They also can contain economic qualities of tantalum and cesium as well as other lithium bearing minerals such as mica.  With eight projects totalling over 14,000 hectares the Azincourt-New Age JV is the largest claim holder for Lithium Projects in the Winnipeg River Pegmatite Field. 

Qualified Person

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals.  Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel projects, including uranium, lithium, and other elements critical to the future.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”                         
Alex Klenman, President & CEO

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.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.  Such forward-looking information represents management’s best judgment based on information currently available.  No forward-looking statement can be guaranteed and actual future results may vary materially.

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