Azincourt, New Age Metals add Cat 4 to Lithium Two

Jul 12, 2018

2018-07-11 10:08 ET – News Release

Also News Release (C-NAM) New Age Metals Inc

Mr. Alex Klenman of Azincourt reports

AZINCOURT ENERGY ADDS CAT 4 CLAIM TO LITHIUM TWO PROJECT; EXPANDS EAGLE PEGMATITE TO THE WEST

Azincourt Energy Corp.’s joint venture with New Age Metals Inc. has added the Cat 4 claim to its existing Lithium Two project.

New Age has exercised its option agreement with Mustang Minerals (since renamed Grid Metals Corp.) to explore the Cat 4 claim, which lies adjacent to the western boundary of the Lithium Two project and contains the western extension of the Eagle pegmatite.

Lithium Two contains several lithium-bearing pegmatites including the 1,100-metre Eagle pegmatite, which contains a non-National Instrument 43-101 compliant historical resource of 545,000 tonnes at 1.4 per cent lithium oxide. Historical reports suggest it is open to depth and along strike. The new Cat 4 claim nearly doubles the current Lithium Two land package, in addition to increasing the exploration potential of the lithium-bearing Eagle pegmatite, and contiguous ground, to the west.

“Cat 4 is a compelling addition to Lithium Two, we’re very pleased to get this ground,” said president and chief executive officer, Alex Klenman. “Lithium Two is the most advanced exploration target we have. The Eagle pegmatite is already sizable and adding the Cat 4 claim block represents an opportunity to potentially extend the mineralization and add tonnage to the project upside,” continued Mr. Klenman.

The addition of the Cat 4 claim block comes at no additional cost to the JV partners and is a part of the 2016 original agreement between New Age Metals and Mustang Minerals (Grid Metals) to option the claims.

Exploration update

Mapping and sampling have been under way now for several weeks, and drilling at Lithium Two is scheduled to begin shortly. Numerous pegmatites at Lithium Two have been sampled in the past month, in addition to chip sampling along the Eagle and FD5 pegmatites. Fractionation samples were also collected to help gain a better understanding how evolved these pegmatites may be. The more evolved a pegmatite is, the greater the potential for a higher degree of mineralization.

Since work began, a total 48 field samples from Lithium Two have been sent to Actlabs in Ancaster, Ont., for analysis. Results are expected sometime in the next week or two. Additional sample batches from the Lithman North and Lithman East projects are in process and being sent to Actlabs in the coming days. Mapping and sampling of known and newly found pegmatites continues on the other projects and will continue throughout the summer months.

Winnipeg River pegmatite field

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.

The New Age Metals/Azincourt Energy joint venture is the largest claim holder for lithium projects in the Winnipeg River pegmatite field. At present, the joint venture has eight projects totalling over 14,000 hectares in the Winnipeg River pegmatite field.

Qualified person

The contents contained herein that relate to exploration results or mineral resources are 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 properties, comprising at this time an active portfolio of uranium and lithium projects.

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