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Azincourt Energy Corp
Symbol AAZ
Shares Issued 348,702,303
Close 2021-09-24 C$ 0.08
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Azincourt signs data consulting deal with Fobi AI

2021-09-24 07:33 ET - News Release

Also News Release (C-FOBI) Fobi AI Inc

Mr. Alex Klenman of Azincourt reports

AZINCOURT PARTNERS WITH FOBI TO UTILIZE AI AND DATA ANALYTICS AT THE EAST PRESTON URANIUM PROJECT

Azincourt Energy Corp. has entered into a data consulting agreement with Fobi AI Inc. to drive operational efficiencies and profitability.

Fobi will assist Azincourt in the development of an operational intelligence platform to help transform legacy and in some cases antiquated but commonly used practices in the mining and exploration sector. Fobi will introduce the use of artificial intelligence applications and data mining techniques that analyze vast amounts of aggregated data, detecting patterns and consistencies that may not be readily apparent otherwise, and can potentially provide more efficient road maps to allow the company to generate more impactful drill holes in less time, and with less cost.

The one-year, $250,000 contract with Fobi will allow Azincourt to benefit from Fobi's experience developing and deploying real-time applications and operational solutions across various data applications at scale. Fobi will architect and deploy its established AI and operational applications in an effort to support Azincourt's goal of making discovery and delineating a resource at its East Preston uranium project.

"This partnership with Fobi AI gives Azincourt the opportunity to apply leading-edge technologies to our efforts at East Preston," said chief executive officer Alex Klenman. "I think it's incumbent upon us to explore new exploration techniques that can help guide us towards significant discoveries. Artificial intelligence, machine learning algorithms and rapid big data analysis clearly have a place in our future and we're eager to apply these new techniques to uranium exploration. There are multiple applications we can utilize here, and I'm excited to begin working with Fobi and their innovative team. I think this is a tremendous opportunity to Azincourt," continued Mr. Klenman.

"I see the exploration and mining sector as a very lucrative opportunity for Fobi," said Rob Anson, chief executive officer of Fobi. "This agreement with Azincourt will allow Fobi to demonstrate the power of our real-time operational data applications and real-time analytics and insights to provide Azincourt with leading-edge technology, strategies and necessary applications to streamline and automate manual current applications. Fobi will continue to drive new innovation and best practices to improve the industries existing antiquated operational and data systems. The powerful combination of Fobi's artificial intelligence and real-time big data applications will be key to enabling Azincourt to make faster, smarter, data-driven decisions which ultimate will be key to driving further success in regard to the company's operational efficiencies and performance," continued Mr. Anson.

About Fobi AI Inc.

Fobi is a cutting-edge data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique Internet of things device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across on-line and on-premises platforms creating highly scalable solutions for its global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports and entertainment, casino gaming, and hospitality and tourism industries.

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 uranium, lithium and other critical clean energy elements. The company is currently active at its majority-owned East Preston uranium project in the western Athabasca basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

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