Uranium Samples Hit Up to 6.28% as New Showings Expand a District-Scale Project

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Azincourt Energy Corp. (AAZ:TSX.V; AZURF:OTC) reported assay results from samples collected during its summer 2025 prospecting program at the Harrier Uranium Project in Newfoundland and Labrador. The company stated that the program included sampling across multiple areas of the property, including the Snegamook Uranium Deposit, Moran Heights, Brook, and several newly identified showings. According to the company, multiple surface samples returned high-grade uranium values, including 6.28% U3O8 at the Brook showing and up to 2.27% U3O8 along the Moran Heights trend.

At the Snegamook Uranium Deposit, re-sampling of historical drill core confirmed uranium mineralization. A 10-centimeter check sample from drill hole SN-08-06 returned 2.71% U3O8, compared with a previously reported historical interval of 0.97% U3O8 over 0.5 meters. A second check sample from drill hole SN-08-18 returned 0.35% U3O8. The company stated that these results confirm the quality of mineralization in the vicinity of the Snegamook deposit and highlight the potential for higher-grade lenses within the deposit.

Sampling along the Moran Heights trend returned values of up to 2.27% U3O8, while a sample from the Brook showing returned 6.28% U3O8, compared with a previously reported result of 4.86% U3O8. Azincourt also reported the identification of two new uranium showings, Boiteau Lake North Extension and Anomaly 7 East. In total, 43 hand samples were collected during the program and analyzed at ACT Labs in Ancaster, Ontario.

Commenting on the results, Trevor Perkins, vice president of exploration for Azincourt Energy, said in a company news release, "We are very encouraged by the results of the summer 2025 program. The assay results have demonstrated that the potential for high-grade uranium deposits exists on the Harrier Project."

Sector Overview: Uranium Supply, Demand, and Pricing Environment

According to a January 2 press release distributed by EIN Newswire, uranium prices rose in 2025 amid what the publication described as a historic evolution in the uranium market tied to rising nuclear power demand. The release stated that TradeTech's monthly spot price, the Exchange Value, climbed more than 11% in 2025 to US$81.70 per pound U3O8 as of December 31, 2025. TradeTech President Treva Klingbiel said in the release, "The nuclear fuel market realizes that true, durable demand is already here, and the supply side must now respond to it." The press release added that forecasted growth in nuclear power requirements had pushed uranium requirements up 17% over the past five years and noted that utilities were increasingly seeking to secure mid- and long-term uranium supply, contributing to upward pressure on term market prices.

In a January 15 special report titled Top 10 Themes for 2026, Sprott Insights addressed uranium as part of its broader review of critical materials markets. In the report, Sprott Insights wrote that "Uranium's bull market setup strengthens into 2026," citing tightening fundamentals, improving policy clarity, and changes in contracting activity. The report stated that spot uranium gained 11.43% in 2025 and noted that the term price rose to US$86 per pound. Sprott Insights stated, "Tight supply and rising reactor demand are powering uranium's bullish momentum," and added that supply growth had not kept pace with increasing reactor demand, while contracting levels remained below replacement-rate requirements.

Recent reporting dated January 22 from Ad-Hoc News stated that the uranium market experienced renewed momentum as uranium spot prices rose to US$85.25 per pound, marking an 18-month high. The article attributed the price movement to conditions in the physical uranium market, citing a structural supply deficit in which global uranium consumption consistently exceeded mine production. The report stated that this tightening was being amplified by financial market activity, noting that the Sprott Physical Uranium Trust had expanded its uranium holdings, thereby removing material from the available market supply and contributing to upward price pressure. According to the report, these factors together reflected sector-wide momentum driven by constrained supply and sustained demand within the uranium market.

Planned Exploration and Technical Work at the Harrier Project

According to the company's corporate materials, Azincourt outlined a series of exploration and technical activities planned at the Harrier Uranium Project. These activities include diamond drilling at the Snegamook Uranium Deposit, which is identified as a key focus area, along with work intended to support the preparation of an NI 43-101 compliant resource estimate. The company indicated that drilling at Snegamook is planned as part of its exploration efforts and is tied to advancing the understanding of uranium mineralization at the deposit.

The corporate materials also describe plans for detailed geological and structural mapping of the mineralized system at Boiteau Lake. This work is intended to be conducted in preparation for a diamond drilling program at that location. In addition to Boiteau Lake, the company stated that diamond drilling is planned at Moran Heights, where uranium mineralization has been identified through surface sampling and site investigations.

Beyond these specific targets, Azincourt noted that continued development of other uranium showings across the Harrier Project is planned for future drill programs. The company indicated that these activities are part of its broader exploration plan for the property and are intended to further evaluate multiple areas of known uranium mineralization identified through previous exploration work and recent field programs. 

Ownership and Share Structure ¹

Institutions hold 0.78% of Azincourt Energy. Institutional investors include Arrow Capital Management LLC and Tidal Investments LLC.

Management and insiders own 0.9%. President, CEO, and Director Alex Klenman is the major shareholder, with 0.34%. Other insider shareholders are Director Paul Reynolds and Vice President of Exploration Trevor Perkins.

 The rest is in retail.

Azincourt has 453.92 million (390.54M) outstanding shares and 387.5M free float traded shares. Its market cap is CA$5.64 million. Its 52-week range is CA$0.01–CA$0.045 per share.