VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Azincourt Resources Inc. ("Azincourt" or the "Company") (TSX VENTURE:AAZ) provides an update on the Phase 1 exploration program at its Forgold Project (the "Property") located in the Iskut River District, northwestern B.C. The Iskut River District forms part of northwest B.C.'s "Golden Horseshoe" and has been a focus for gold and silver exploration since the discovery of the Snip and Eskay Creek gold deposits in the mid 1980's. Exploration work by various previous owners in the late 1980's and early 1990's identified multiple target areas within the Property area with limited follow-up work since, and the Property is considered a promising, early stage exploration prospect.
The claims adjoin the southern and southeastern boundaries of the "RDN property" that is currently owned by Kiska Metals Corp. and straddles a package of prospective rock units (correlative with the Eskay Creek Horizon) localized along a north-to-northeast trending deformation zone known as the Forest Kerr Fault Zone. According to the B.C. Geologic Survey, drilling by Noranda Inc. on the RDN Property in 1991 at a prospect known as the "Boundary Zone" (located several hundred meters north of the central part of the present Forgold Property), reportedly intersected an 11.6 meter interval that averaged 23.9 g/t gold (source: The Northern Miner, September 1991).
Previous Property owners, Ecstall Mining Corp. and Goldfields Canadian Mining Ltd., completed a large soil geochemical survey to the south of the Boundary Zone in 1991 and defined several large anomalous areas (referred to as Zone A through Zone D) extending for two kilometers within the Forgold Property. A limited drill program in 1992 tested the most northerly of the anomalies and intersected extensions of the mineralized zone reported by Noranda Inc. however no additional work was carried out until the Company acquired an option to purchase the Property in 2011.
During August and September of 2011 the Company compiled the technical data generated by previous owners and carried out a geochemical survey to verify the results reported by Ecstall and Goldfields. The survey completed by Azincourt in 2011 verified gold and base metal anomalies in the area of Anomaly C reported by Ecstall and Goldfields Canadian Mining and included gold values in soils ranging from trace levels to a high of 0.334 g/t gold.
The objective of the Company's 2012 Phase 1 work program, as recommended in an independent 43-101 technical report dated November 14, 2011 as amended January 18, 2012 authored by G.Nicholson P.Geo. entitled "Review of Technical Information and Proposed Exploration Program for the Forgold Property", was to complete additional detailed soil sampling in the central part of the Property to delineate the extent of the known anomalies identified by Ecstall Mining and Goldfields Canadian Mining as Zones A through D. These anomalies exhibit gold values ranging from 50 ppb to in excess of 1,000 ppb (equivalent to 1 g/t) and are each several hundred meters in size suggesting potential for multiple mineralized zones over a strike length of approximately two kilometers within the Property. Exploration work in 2011 was focused on Anomaly "C" centred approximately one thousand five hundred meters south of the boundary with the RDN Property.
The current 2012 exploration program consisted of 1,007 soil samples collected at 10 meter intervals along 25 to 50 meter spaced profile lines covering Anomaly A and Anomaly B. The grid area was approximately 400 meters wide and extended approximately 1,000 meters immediately south of the RDN claim boundary. Ecstall Mining Corp. and Goldfields Canadian Mining Ltd. reported several areas of exposed sulfide mineralization within Anomaly A and Anomaly B and the Company's field personnel collected 103 rock samples from several gossan zones identified within the grid area.
All samples from the current exploration program are being analyzed at the ALS Laboratory Group assay facility in North Vancouver. Rock samples are analyzed by fire assay for gold (Au-ICP-AES finish) and for a suite of 35 elements using aqua regia digestion and standard ICP-AES techniques. ALS includes duplicate and industry standard analyses as part of its internal QA and QC program. The ALS Laboratory Group QA and QC provisions are considered adequate for the current program and no additional measures were implemented.
Assay results including all soil and rock sample assay data from the 2012 exploration program are expected in January 2013 and overall will be released as they become available.
George Nicholson, P.Geo., is the Qualified Person that is responsible for the technical content of this press release. See the technical report prepared by Mr. Nicholson for the Company dated November 14, 2011 amended January 18, 2012 and entitled "Review of Technical Information and Proposed Exploration Program for the Forgold Property", which is available on the Company's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD
Darren P. Devine, CEO, President, Secretary and Director
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 Resources Inc. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. 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. Azincourt Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.