$AAZ Geophysical Survey Generates Numerous High-Quality Targets at East Preston Project, Athabasca Basin

By Blogger at 7:18:00 AM    2 comments


VANCOUVER, British Columbia, March 07, 2018 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSXV:AAZ) (OTC:AZURF) is pleased to announce the completion of HLEM and Gravity geophysical surveys for the Company’s East Preston project, a highly prospective uranium project located in the western Athabasca Basin, Saskatchewan, with option partners Skyharbour Resources Ltd. and Clean Commodities Corp.
Numerous, high quality drill targets have been generated from the 50 line km surveys. Detailed interpretation work is underway to generate targets for future drill testing incorporating the detailed gravity survey results.
East Preston Program highlights
  • 50 line km of Horizontal Loop Electromagnetic (HLEM) and ground gravity surveys completed on multiple grids across the East Preston property (see Figure 1 Survey Map)
  • Excellent basement conductors confirmed and ground-truthed for follow-up – numerous targets identified on every grid surveyed
  • Detailed geophysical interpretation is on-going to qualify and prioritize drill targets for future drill testing using established Athabasca uranium deposit criteria
  • The Winter Exploration Program completed will satisfy year one of the JV Option with expenditures exceeding the agreement threshold
  • These positive results support the Company’s position to enter year two of the JV Option
East Preston Project 2017 Geophysical Results
Azincourt engaged a highly experienced geophysical consultant, Mr. Lawrence Bzdel, PGeo, to plan and oversee the geophysical surveys and interpret all recently acquired data alongside the historical exploration work and results.
Paterson Geophysics Ltd completed the 50 line km of HLEM survey work and MWH Geo-Surveys completed the 50 line km of ground gravity surveying based out of a temporary camp established on the project. Survey work was completed in January-February with camp and crew demobilization February 22.
The HLEM data was collected with a 200 m Transmitter-Receiver separation, and 50 m station intervals. The survey was designed to accurately identify multiple conductor systems in this shallow depth to basement environment. Unconformity-related uranium deposits are often associated in proximity to basement conductive trends and represent a first order criterion for discovery.
The Gravity survey recorded measurements at 50 m station intervals along grid lines. Subtle gravity low anomalies can highlight areas of alteration and structural disruption. Gravity highs may represent basement topography, which are also associated with unconformity-related uranium deposits. Initial interpretation work has confirmed the prospective, often highly complex, basement conductor architecture at East Preston. 
“We’re very encouraged with the work to date at East Preston,” said Alex Klenman, president & CEO.  “The Winter ground geophysical program generated numerous high-quality targets, establishing conductors and multiple conductor systems on all survey grids. This is very positive news and continues to speak directly to the excellent potential of the project,” continued Mr. Klenman. 
Detailed interpretation work will incorporate all data, historical and the present gravity and HLEM data to generate, rank and prioritize targets for future follow-up drill testing. Based on the interpreted number and quality of the conductor trends, the Company expects to generate enough targets for several drill programs.
East Preston JV Option
With the completion of the 2018 exploration program and accompanying interpretation work and reporting, Azincourt will have satisfied the exploration work commitment expenditure requirements for year one of the JV Option. The quality and number of targets identified at East Preston support the Company continuing the JV Option into year two.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Ted O’Connor, P.Geo. a director of Azincourt Energy Corp., as well as a qualified person.
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 lithium, uranium, cobalt and other critical clean energy elements.  The Company is currently active at its joint venture lithium exploration projects in the Winnipeg River Pegmatite Field, Manitoba, Canada, and at its East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada.
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.
430 – 800 West Pender Street
Vancouver, BC
V6C 2V6
www.azincourtenergy.com
Photos accompanying this announcement are available at

$CLSD Biotech Forum Daily Digest For March 7th

By Blogger at 7:13:00 AM  , ,  No comments

 Includes: CLSD, DERM, ESPR, FATE, PTGX, TTOO, TTPH

Summary

Fears of a 'trade war' and a key departure from the current administration should put the market in a 'risk off' mode today, at least in early going.
Dermira implodes on a key Phase III trial failure. Clearside Biomedical and Tetraphase Pharmaceuticals get several positive mentions from analysts.
All the other notable news, events and analyst ratings from across the sector as well as a Spotlight feature on T2 Biosystems are below.
Love all, trust a few, do wrong to none.” ― William Shakespeare
The choppy nature of the market continues. After posting slight gains on Tuesday, the main biotech indices will open substantially down today as will the rest of the overall market.
Today's rally killer is the departure of Gary Cohn from the White House. Mr. Cohn was a key economic adviser and driver of the recently passed tax reform package. As importantly, his departure will weakened the free trade wing within the administration and makes a feared 'trade war' more likely in coming months. Not something that is going down well with investors.
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Dermira (DERM) was the big loser in the sector on Monday. The shares lost over 60% of their value after the company announced that its Phase 3 trial for its compound olumacostat glasaretil or DRM01 failed to meet all co-primary endpoints in its two pivotal trials for the treatment of moderate-to-severe acne vulgaris. Dermira will not discontinue development for this program. The company does have another compound 'DRM04' that has a PDUFA date late in June to treat primary axillary hyperhidrosis.
Esperion Therapeutics (ESPR) should buck the downward tilt of the market today and get a decent lift from trial results it announced this morning. The company discloses that a Phase 3 trial for its bempedoic acid in statin-intolerant patients atherosclerotic cardiovascular disease or at high risk of ASCVD with elevated low-density lipoprotein cholesterol met its primary endpoint.
Protagonist Therapeutics (PTGX) rallied some five percent in trading on Tuesday. Its compound PTG-300 was designated as an Orphan Drug by the FDA for the potential treatment of beta-thalassemia, an inherited disorder characterized by chronic anemia due to impaired red blood cell production. Orphan Drug status conveys a seven-year period of market exclusivity for the indication, if the compound is eventually approved. PTG-300 recently successfully completed a Phase 1 clinical trial but is years away from any potential commercialization.
Piper Jaffray reiterated its Buy rating on Fate Therapeutics (FATE) Tuesday and doubled its price target to $20 on this emerging CAR-T concern. Jaffray's analyst believes lead allogeneic natural killer cell therapy FATE-NK100 'can enhance anti-tumor activity when combined with antibodies'. This compound is currently in three ongoing Phase 1 studies.

Not surprisingly given Monday's positive trial developments, Clearside Biomedical (CLSD) is seeing some love from analysts this week. On Monday, JMP Securities reissued its Outperform recommendation with $25 price target. Tuesday saw JP Morgan doing the same with a Buy rating $18 price target. The analyst at JMP Securities raised his price target from $21 a share previously on CLSD as he now sees the chances of eventual approval of CLS-TA moving to a 80% probability from 70% prior to this week's trial disclosure.

Tetraphase Pharmaceuticals (TTPH) also get some positive mention from analysts recently. Last week, Piper Jaffray reissued its Outperform rating and $8 price target on this small cap concern. After fourth quarter resultsyesterday, both H.C. Wainwright ($6 price target) and B Riley FBR reiterate their own Buy ratings on Tetraphase this morning. The company's compound eravacycline to treat complicated Intra-Abdominal Infections has a PDUFA date in late August with the FDA seeking approval.
Note: New analyst ratings are a great place to begin your due diligence, but nothing substitutes for deeper individual research in this very volatile sector of the market. Many of the small-cap names highlighted in "Analyst Insight" will eventually appear in the "Spotlight" section, where we do deeper dives on this type of promising but speculative small-cap concerns.
Today we provide an update on 'Busted IPO' T2 Biosystems (TTOO) whose shares have soared over the past week in today's Spotlight feature.
TTOO Stock ChartCompany Overview:
This company is a Massachusetts based diagnostics company that has developed a proprietary magnetic resonance technology platform that enables rapid detection of pathogens, biomarkers, and other abnormalities in patient fluids including blood, plasma, serum, saliva, sputum, and urine. The company was founded in 2006 and came public in August 2014 at $11.00 per share. Even with the stock's recent rally, the shares are far below their debut. Thus, TTOO is a 'Busted IPO', a niche in the market where I have found almost all of my 'ten-baggers' in my 30 plus years in the market. The stock currently has an approximate market capitalization of $225 million.
The Technology:
What I feels makes T2 Biosystems unique is its technology platform.
The company’s T2 magnetic resonance platform (T2MR) is a direct-from-sample diagnostic detection method. For molecular and immune-diagnostic targets, super paramagnetic particles with specie-specific target probes are introduced into a patient’s sample. If the target pathogen is present, the particles bind to it and cluster. This clustering alters the magnetic property of the sample water, which increases the T2MR signal, indicating the presence of the targeted pathogen. Because this technology works directly in the patient’s sample, no purification or extraction (culture) is required. As a result, none of the target pathogen is lost, providing a more sensitive and thus more accurate result. The company’s detection device, the T2Dx Instrument can run 7 tests at once and between 2,500 and 3,000 per annum.
This device has the potential to be a game changer in the detection of sepsis. Domestic deaths from sepsis annually (> 200,000) are more than breast cancer, prostate cancer, and AIDS combined. Sepsis related costs are about six percent of the overall hospital costs in this country, nearly $25 billion a year.
Sepsis is a severe inflammatory response to 25 different bacterial or 5 different fungal (Candida). A panel for Candida has been approved and is in the market. It can return a result in less than five hours, compared to an average of five days of the previous process. Each of these T2Dx machines cost ~$100,000 and currently employ only the T2Candida Panel. T2 Biosystems supplies the machines and the panels that much be restocked as tests are run. A true razor & razor blade story.
On September 11th, the company submitted a marketing application for a second panel. This would bump up the amount of different types of sepsis the T2Dx Instrument could detect to nearly 95% of the total from just over 10% with the T2Candida panel currently approved (fungal). Obviously, this is a game changer and should result in a big increase in sales of machines (razors) and panels (razor blades). This panel is already approved in Europe and should be approved in the United States soon. It takes generally six to months to approve this sort of device in the States.
Analyst Commentary & Balance Sheet:
Despite the company potential, there is little analyst commentary around this name. The only new analyst rating in the last nine months was from H.C. Wainwright in Mid-February. They chimed in and reiterated their Buy rating and $8 price target three weeks ago. The stock has staged a ~50% rally since then. The company ended the fourth quarter with just over $40 million in cash and marketable securities on the balance sheet. Management stated this gave it a cash runway for at least 12 months.
Verdict:
The new panel will detect a much greater percentage of sepsis pathogens (~95%) compared with current methods (50% to 65%) and will be do it in under six hours compared to the current three day average. This should spur much faster adoption as hospitals buy the machines and start to use the panels. I continue to think TTOO will be an amazing growth story over the next decade.
To be trusted is a greater compliment than being loved.” ― George MacDonald
Disclosure: I am/we are long derm,fate, ttoo, ttph.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

Bret Jensen

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