Uranium Company Evaluates Legacy Data for Future Drilling in Labrador

1. Azincourt Energy Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
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Azincourt Energy Corp. (AAZ:TSX.V; AZURF:OTC) has released a detailed update on its Harrier Uranium Project in Labrador's Central Mineral Belt (CMB), emphasizing the project's strategic position within a region known for major uranium discoveries. The Harrier Project, now consolidated with the Snegamook Uranium Deposit, spans 49,400 hectares and is adjacent to several high-profile deposits, including Atha Energy's Moran Lake (9.6 million lbs U₃O₈) and Anna Lake (4.9 million lbs U₃O₈), and Paladin Energy's Michelin Project (127.7 million lbs U₃O₈).

The company reported multiple zones of known mineralization across the property, with surface samples returning uranium oxide (U₃O₈) values as high as 7.48%. To date, only 124 drill holes have been completed across the entire project area, highlighting significant exploration upside. "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," said Trevor Perkins, Vice President of Exploration in the company news release.

The Harrier Project is centered in the CMB, a region with renewed exploration interest due to increased global demand for uranium as nations ramp up nuclear energy to meet carbon neutrality goals. The region is historically underexplored despite early discoveries dating back to the 1970s and 1980s. Among the most notable historical prospects is the Moran Heights Prospect, where samples have returned uranium grades up to 7.2% in boulders and 7.48% in outcrop. Drilling in this area previously returned grades of up to 0.2% U₃O₈.

Additional high-grade discoveries include the Boiteau group of licences, where nine bedrock showings spanning 4.5 kilometers have produced samples up to 1.48% U₃O₈. The adjacent Goshawk and Falcon Prospects also returned grades up to 3.68% and 0.33% U₃O₈, respectively. These findings indicate a broad corridor of uranium enrichment across the project area.

Azincourt is currently compiling and analyzing historic data and planning further field work for summer 2025. The company aims to initiate a comprehensive drill program  to expand known mineralization and assess new targets. The company is also examining historical drill core from the Snegamook Deposit and aims to recover legacy core samples from the Moran Heights area for re-evaluation.

Uranium Exploration Faces Supply Pressure Amid Long-Term Demand Surge

Uranium markets entered 2025 under pressure from a mix of geopolitical uncertainty, production shortfalls, and tightening long-term supply-demand fundamentals.

In a January event cited by INN on April 22, Amir Adnani, CEO and president of Uranium Energy, stated that uranium mines were expected to supply only 75% of global demand in 2025. "So 25% of demand is uncovered," he explained, attributing the shortfall to nearly two decades of underinvestment in the sector. "The fact that we're not incentivizing new uranium mines simply means the commodity price isn't high enough," Adnani added, noting that mine development had been slow despite a 290% price increase over the prior four years.

In that article, INN interviewed Rick Rule, proprietor at Rule Investment Media, who discussed supply constraints following operational setbacks at Kazakhstan's Inkai project. "Because of many things, including an unavailability of sulfuric acid in Kazakhstan, that mine hasn't resumed production anywhere near at the rate that I thought it would," Rule said. He emphasized the impact of reduced output, stating, "There's 10 million pounds in reduced supply in 2025 and the spot market is already pretty skinny."

In a statement provided exclusively to Streetwise Reports on May 13, Technical Analyst Clive Maund offered a bullish outlook on Azincourt Energy Corp., citing key chart patterns and volume indicators as evidence of strong momentum.

According to TradeTech, the Daily Uranium Spot Price climbed to US$70.00 per pound on May 1, marking its highest level in nearly three months. In a statement released May 2, TradeTech President Treva Klingbiel said, "In April, end user demand began to emerge, and utilities have continued to come forward with delivery dates for purchased material spread across the near-term, mid-term, and long-term delivery time frames."

In a market summary previously published by INN, the spot U₃O₈ price was reported to have declined 13.26% during the first quarter of the year, closing at US$64.83 per pound on March 31. Despite this, long-term contract prices held steady at the US$80 level. Per Jander, director of nuclear fuel at WMC, commented on the role of geopolitical volatility, saying, "I think the new administration is unpredictable . . .  but again, it has ripple effects for players in the market." He questioned the strategic value of tariffs on Canadian uranium, noting that the U.S. produces only 1 million pounds annually while requiring approximately 45 to 50 million pounds per year.

According to a May 6 report by Stockhead, uranium contract prices had continued to hold multi-year highs above US$80 per pound, supported by sustained utility interest. Market analyst Guy Le Page cited UxC's Uranium Market Outlook, stating, "Global nuclear utilities have approximately 1 billion pounds of uncovered uranium requirements over the next decade." Le Page highlighted broader factors driving demand, including nuclear energy's role as "one of the cleanest fuel sources likely to take a leading role around the globe in the provision of base-load power as fossil fuels are phased out."

In the same article, Stockhead reported that uranium spot prices had recently rebounded from an 18-month low in the US$64 range to US$70 per pound. This rebound followed disruptions at major global producers and growing concern about long-term supply security, particularly in light of the declaration by 31 countries at COP28 to triple global nuclear capacity by 2050.

The World Nuclear Association projected a 28% increase in uranium demand between 2023 and 2030, rising from 65,650 to 83,840 metric tons. Demand was expected to be driven by reactor construction, life extensions, and emerging energy needs tied to data center growth. The International Energy Agency projected that electricity demand from data centers would more than double by 2030, with AI-optimized centers playing a significant role in that growth.

Looking Ahead: A Platform for Growth in Uranium Exploration

Azincourt Energy's strategic focus, as outlined in the company's investor presentation, on two of Canada's most prospective uranium jurisdictions, the Central Mineral Belt and the Athabasca Basin, positions it to potentially benefit from rising global uranium demand. According to the company's investor materials, 31 countries have committed to tripling nuclear energy capacity by 2050, putting pressure on a supply chain still recovering from a decade-long underinvestment in uranium mining.

The Harrier Project, through its combination of large-scale land holdings, high-grade surface samples, and underexplored mineralized zones, represents a signifigant asset in Azincourt's portfolio. The proximity to other advanced-stage uranium deposits enhances its potential strategic relevance. The Snegamook Deposit, acquired in 2024, includes four shallow-dipping uranium lenses traced over 300 meters, with grades ranging from 225 to 771 ppm U₃O₈ and localized zones up to 0.11% U₃O₈ over several meters.

In parallel, Azincourt continues work at its East Preston Project in Saskatchewan's Athabasca Basin. Drilling conducted from 2021 to 2024 identified uranium-enriched alteration zones and clay mineralization, including illite and dravite, which are often found in close proximity to uranium deposits in the region.

Azincourt's diamond drilling campaign at Harrier will aim to validate and expand upon historical results while assessing newly identified anomalies from the company's recent compilation efforts. With 50% of the company's share structure held by insiders, institutions, and close associates, and a current market capitalization of CA$11.3 million.

Perkins summed up the company's near-term outlook by stating, "The acquisition of this underexplored land package in the center of the CMB is game-changing for Azincourt."

Technical Analyst Highlights Breakout Potential for Azincourt Energy

In a statement provided exclusively to Streetwise Reports on May 13, Technical Analyst Clive Maund offered a bullish outlook on Azincourt Energy Corp., citing key chart patterns and volume indicators as evidence of strong momentum.

“After a long period of depression Azincourt Energy broke out on very strong volume in March from a flat base pattern that had formed at a low level from last August, a very bullish development,” Maund explained. “This breakout has been followed by a normal reaction back to support at the upper boundary of the base pattern which is a classic ‘buy spot’ ahead of renewed advance, which is made all the more likely by the strong Accumulation line which continues to make new highs even as the price has dipped. Azincourt Energy is rated an immediate strong buy ahead of the expected second upleg, which is likely to be sizable.”

Ownership and Share Structure

According to Refentiv, 0.12% of Azincourt is held by institutions and 0.81% is management and insiders. The rest is retail.

Azincourt Energy has a market cap of CA$3.93 million, 371.29 million free float shares, and a 52-week range of CA$0.0056 - CA$0.03.