Azimut and Mont Royal Undertake an Initial Prospecting Program on the Wapatik Property on Strike with the Elmer Gold Discovery Symbol: AZM.TSX Venture
Azimut and Mont Royal Undertake an Initial
Prospecting Program on the Wapatik Property
on Strike with the Elmer Gold Discovery
Symbol: AZM.TSX Venture
LONGUEUIL, QC,
Oct. 25, 2021
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report that an initial prospecting program has commenced
on the Wapatik Property ("the Property") under option to
Mont Royal Resources Limited
("Mont
Royal") (
ASX: MRZ
). The Property is located along the same Archean greenstone belt hosting the
Elmer gold discovery in the
James Bay
region of
Quebec
(see
Figures 1 to 4
and
press release of
June 28, 2021
).
Five (5) highly prospective multi-kilometre-scale target areas are being evaluated in the field. They
were defined following a property-wide, systematic targeting approach that included a high-
resolution magnetic survey (5,116 line-km on 25-m spaced lines), remote sensing analysis,
lithostructural interpretation and an extensive till survey (154 samples), all of which were completed
earlier this year.
The main gold targets are sheared iron formations and volcanics associated with gold-in-till
anomalies. In addition, a kilometre-scale intrusion, possibly mafic-ultramafic, is considered an
attractive copper-nickel-PGE target.
Wapatik is a 25-kilometre-long project covering a largely underexplored part of the Lower Eastmain
greenstone belt in the Archean La Grande Subprovince. It is located approximately 10 kilometres
north of the boundary with the Opinaca Subprovince.
The Property, composed of a single block of 220 claims (115 km
2
), benefits from excellent
infrastructure, including road access and power lines.
Mont Royal
can acquire from Azimut a 50%
interest over four (4) years by spending
$4 million
in exploration expenditures, and a further 20%
interest in exchange for an additional investment of
$3 million
and the delivery of a preliminary
economic assessment. The exploration program is fully funded by
Mont Royal
. Azimut is the
operator.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's Qualified Person under
National Instrument 43-101. François Bissonnette, P.Geo., Operations Manager,
Simon Houle
,
P.Geo., Chief Geologist, and
Mathieu Landry
, P.Geo., VP Technology and Business Development,
have also reviewed the contents of this press release.
About
Mont Royal
Mont Royal Resources Limited is an Australian company incorporated for the purpose of pursuing
various mining opportunities in the resources sector, with the aim of building shareholder value by
acquiring, exploring, evaluating and exploiting mineral resource project opportunities.
For further information regarding
Mont Royal
, please visit the ASX platform
(ASX:MRZ)
or the
company's website at
www.montroyalres.com
.
About Azimut
Azimut is a mineral exploration company whose core business centres on target generation and
partnership development. The Company is actively advancing the Patwon gold discovery on its
100%-owned flagship Elmer Property in the
James Bay
region.
The Company uses a pioneering approach to big data analytics (the proprietary
AZtechMine
TM
expert system), enhanced by extensive exploration know-how. Azimut maintains
rigorous financial discipline, a strong balance sheet, and has 81.7 million shares issued and
outstanding. Azimut's competitive edge against exploration risk is based on systematic regional-
scale data analysis and concurrently active projects.
www.azimut-exploration.com
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements, which reflect the Company's current
expectations regarding future events related to the drilling results at the Elmer Property. To the
extent that any statements in this press release contain information that is not historical, the
statements are essentially forward-looking and are often identified by words such as "consider",
"anticipate", "expect", "estimate", "intend", "project", "plan", "potential", "suggest" and "believe". The
forward-looking statements involve risks, uncertainties, and other factors that could cause actual
results to differ materially from those expressed or implied by such forward-looking statements.
Many factors could cause such differences, particularly volatility and sensitivity to market metal
prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in
reserve estimates, recoveries of gold and other metals, environmental risks including increased
regulatory burdens, unexpected geological conditions, adverse mining conditions, community and
non-governmental organization actions, changes in government regulations and policies, including
laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to
obtain necessary permits and approvals from government authorities, as well as other
development and operating risks. Although the Company believes that the assumptions inherent in
the forward-looking statements are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this document. The Company disclaims any
intention or obligation to update or revise any forward-looking statement, whether as a result of
new information, future events or otherwise, other than as required to do so by applicable
securities laws. The reader is directed to carefully review the detailed risk discussion in our most
recent Annual Report filed on SEDAR for a fuller understanding of the risks and uncertainties that
affect the Company's business.
Neither 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
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/October2021/25/c3832.html
%SEDAR: 00003284E
For further information:
Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450)
646-3045, [email protected]
CO: Azimut Exploration Inc.
CNW 06:30e 25-OCT-21