Azimut and Partners announce Drilling Results from Eleonore South Gold Property, James Bay region, Quebec Symbol: AZM. TSX Venture
Azimut and Partners announce Drilling Results
from Eleonore South Gold Property, James
Bay region, Quebec
Symbol: AZM. TSX Venture
LONGUEUIL, QC
,
Dec. 17, 2018
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) announces assay results from 14 diamond drill holes (
4,285 m
) from the
Fall 2018 exploration program at the Eleonore South JV Property (Azimut-Eastmain-Goldcorp)
where a substantial gold-bearing system has been uncovered from 2016 to 2018. Results are
pending on 10 additional drill holes. Located in the
James Bay
region of
Quebec
,
Eleonore South
is
adjacent to the Eleonore Property hosting the major Eleonore gold mine owned and operated by
Goldcorp (
see Figure 1
).
DRILLING HIGHLIGHTS
Best results are:
ES18-133:
14.7 g/t Au over
6.2 m
, including
80.4 g/t Au over
1.0 m
ES18-121A:
1.85 g/t Au over
8.7 m
, including
3.83 g/t Au over
3.9 m
ES18-126:
2.08 g/t Au over
8.0 m
, including
8.22 g/t Au over
1.5 m
ES18-129 :
12.7 g/t Au over
1.0 m
and
2.09 g/t Au over
7.5 m
Drilling continues to identify significant shallow intrusion-hosted gold-bearing mineralization over
a corridor 2 kilometres long by 600 to 700 metres wide, comprising two main trends: Moni and
Contact.
Pending results of the program relate to holes drilled on the potential westward extensions of
the Moni and Contact trends, as well as the JT Prospect area.
Highlights from completed holes are presented in Table 1 below and in Figures 2 and 3 (
see attached
). A more detailed summary of significant intersections can be found in Table 3.
Table 1: Highlights from Drill Hole Assay Results
Hole
Au g/t
(1)
Interval
(m)
(2
)
From (m)
To (m)
Vertical Depth
(3)
ES18-121A
1.85
8.7
57.3
66.0
47
3.83
3.9
incl. 57.3
61.2
2.84
3.9
78.6
82.5
62
9.06
0.9
incl. 78.6
79.5
0.61
15.0
90.0
105.0
75
1.12
4.0
incl. 99.0
103.0
ES18-122
0.81
25.15
57.85
83.0
54
1.95
6.0
incl. 59.0
65.0
3.53
2.0
also incl. 59.0
61.0
ES18-123
1.15
10.6
232.0
242.6
182
7.08
1.2
incl. 241.4
242.6
1.74
11.5
342.5
354.0
267
2.85
5.6
incl. 348.4
354.0
8.20
2.0
also incl. 348.4
350.4
ES18-126
2.08
8.0
141.0
149.0
111
3.52
4.5
incl. 141.0
145.5
8.22
1.5
also incl. 141.0
142.5
ES18-129
1.51
10.0
143.5
153.5
114
12.7
1.0
incl. 143.5
144.5
2.09
7.5
173.0
180.5
135
8.02
1.5
incl. 179.0
180.5
ES18-132
2.22
5.1
43.9
49.0
36
13.0
0.8
incl. 43.9
44.7
2.82
3.0
103.0
106.0
80
14.7
6.2
164.8
171.0
129
ES18-133
80.4
1.0
incl. 167.0
168.0
5.94
1.5
incl. 169.5
171.0
Notes: (1) Assays are not capped; (2) Intervals represent core lengths; true widths have not yet been determined;
(3) Vertical depth is measured from surface to the mid-point of
the reported interval.
Completion of the Fall 2018 Drill Program
An additional
3,000 m
of diamond drilling has been completed in December for a total of
7,000 m
of
core. These holes targeted the western edge of the Contact Trend at the JT Prospect and structural
interpretations along the Moni Trend. An additional hole was recently drilled southwest of hole ES18-
133 to test for an extension of a high-grade gold interval (14.7 g/t Au over
6.2 m
) associated with a
tonalite-lamprophyre dyke contact.
Contact Trend Target Observations
Holes
ES18-120
to
ES18-124
tested the extensions of mineralization previously encountered in a
cluster of drill holes, including ES17-74 (0.56 g/t Au over
54.0 m
from
190.5 m
to
244.5 m
).
Hole ES18-120 was collared
100 m
northeast of hole ES16-51 (0.6 g/t Au over
79.1 m
from
171 m
to
250.1 m
) to test the lateral extension of mineralization in that hole, returning an interval
averaging 0.40 g/t Au over
34.5 m
from
220.5 m
to
255.0 m
.
Hole ES18-121a was collared
100 m
southwest of hole ES17-74 and intersected several near-
surface mineralized intervals starting at
57.3 m
(1.85 g/t Au over
8.7 m
),
78.6 m
(3.83 g/t Au
over
3.9 m
) and
90.0 m
(2.84 g/t Au over
3.9 m
); however, this hole has not found the extend of
the deeper interval seen in ES17-74.
Hole ES18-122 was collared
100 m
southeast along section of Hole ES18-111 (1.4 g/t Au over
9.4 m
from 267.3 m to
276.6 m
) and returned numerous mineralized intervals, including 0.81 g/t
Au over
25.15 m
from 57.9 m to
83.0 m
.
Hole ES18-123 was collared
85 m
southeast along section from hole ES17-78 (0.51 g/t Au over
17.1 m from 212.5 m to
229.5 m
) and returned several anomalous intervals including 0.47 g/t Au
over
59.0 m
from
119.0 m
to
178.0 m
.
Hole ES18-124 was drilled between holes ES18-123 and ES18-108a (1.1 g/t Au over
33.6 m
from
208.0 m
to
241.5 m
). This hole returned 0.74 g/t Au over 17.4 from
116.6 m
to
134.0 m
and 0.50 g/t Au over
13.4 m
from
185.1 m
to
198.5 m
.
Holes
ES18-125
to
ES18-129
were drilled along a northeast trend, testing
100 m
to the southwest
and
200 m
to the northeast along the Contact Trend, starting from the centre of a cluster of previous
holes drilled around ES17-80 and ES17-88.
Hole ES18-125 was collared
100 m
to the southeast along section of hole ES18-117 (0.48 g/t
Au over
15.4 m
from
44.7 m
to
60.1 m
). This hole returned 0.48 g/t over
19.0 m
from
123.0 m
to
142.0 m
.
Hole ES18-126 was drilled
50 m
northeast of hole ES18-112 (0.70 g/t Au over
43.4 m
from
108.2 m
to 151.6 m), returning two notable intervals of 2.08 g/t Au over
8.0 m
from
141.0 m
to
149.0 m
and 0.51 g/t Au over
10.5 m
from
167.5 m
to
178.0 m
.
Hole ES18-127 was drilled on section to the southeast of ES18-112 and returned two intervals
of 0.59 g/t Au over
16.5 m
from
120.9 m
to
137.4 m
, and 0.69 g/t Au over
25.0 m
from
266.7 m
to 291.7 m.
Hole ES18-128 was drilled
50 m
northeast of ES17-89 (1.04 g/t Au over
6.2 m
from
74.8 m
to
81.0 m
and 0.57 g/t Au over
19.5 m
from
164.5 m
to
184 m
), returning 1.0 g/t Au over
10.5 m
from
139.5 m
to 150 m, and 0.44 g/t Au over
11.3 m
from
180 m
to
191.3 m
.
Hole ES18-129 was drilled
50 m
southwest of hole ES17-90 (0.5 g/t Au over
123.5 m
from
92.0
m
to 215.5 m). This hole did intersect several gold intervals, including: 0.50 g/t Au over
6.4 m
from
94.5 m
to
100.9 m
, 0.79 g/t Au over
5.5 m
from
129.0 m
to
134.5 m
, 1.51 g/t Au over
10.0
m
from
143.5 m
to
153.5 m
(incl. 12.7 g/t Au over
1.0 m
), and 2.09 g/t Au over
7.5 m
from
173.0 m
to
180.5 m
(incl. 8.02 g/t Au over
1.5 m
).
Holes
ES18-130
to
ES18-133
were drilled as a fence section located
100 m
to 150 m southwest of
the cluster of drill holes around ES17-80 and ES17-88.
Holes ES18-130 and ES18-131 intersected short intervals of anomalous gold mineralization.
Hole ES18-132 intersected 2.22 g/t Au over
5.1 m
from
43.9 m
to
49 m
including 13.0 g/t Au
over
0.8 m
.
Hole ES18-133 intersected 2.82 g/t Au over
3.0 m
from
103.0 m
to
106.0 m
, and 14.7 g/t Au
over 6.2 m including 80.4 g/t Au over
1.0 m
. This intersection contains native gold in tonalite but
close to the contact with an actinolite schist, interpreted as an altered and foliated lamprophyre
dyke. A similar interval is cut by hole ES16-57 located
80 m
to the NE of hole ES18-133. This
intersection assayed 76.1 g/t Au over
1.55 m
in tonalite, spatially related in similar fashion to an
adjacent lamprophyre dyke.
Exploration Potential in the Cheechoo Tonalite
From 2016 to
April 2018
, seventy-six (76) diamond drill holes totalling
15,134 m
have been
completed and have successfully identified a large gold-bearing intrusion-hosted system located in
the eastern section of the Eleonore South Property. Drilling has identified gold mineralization in a
600-700-metre-wide zone extending over 2 kilometres along a north-easterly trend within the
intrusion and up to its contacts with the host metasedimentary rocks. The mineralization extends
toward the Sirios Cheechoo discovery to the northeast and is open to the southwest on the Eleonore
South Property. The gold-bearing system comprises two main trends:
Contact Trend:
A mineralized and altered envelope of variable thickness in tonalite, which
ranges from several tens of metres to over
100 m
in core length with continuous intervals of
anomalous gold values. Within these intervals are sections ranging up to several tens of metres
returning results above 0.5 g/t Au. This trend is characterized by clusters of quartz-albite-biotite
stockwork accompanied by arsenopyrite, pyrrhotite, pyrite, scheelite and native gold. There is
evidence of foliation and folding within the intrusive, as well as the injection and subsequent
deformation of mafic dykes described as lamprophyres.
Moni Trend:
System of pegmatitic veins of coarse quartz and feldspar, veins of coarse-grained
quartz with lesser amounts of interstitial feldspar, with native gold and very low sulphide
contents.
The 2.61 billion-year-old Cheechoo tonalite, late in the geological sequence, is interpreted to be a
mushroom-shaped intrusion with a roughly tabular top
450 m
to
500 m
thick, with a shallow to
moderate dip to the south along its southern contact and a moderate dip to the west along its
western contact (JT Prospect area). The current interpretation suggests the intrusion has not been
overturned. According to this geometry, the Contact Trend is interpreted as a decompression
stockwork zone close to the top of the intrusion.
The Contact Trend may extend down dip along the top of the intrusion, parallel to and below the
contact with the overlying metasedimentary country rocks. The relationship of the high-grade Moni-
type veins to the Contact Trend is not yet fully established. A more detailed discussion of the
exploration model adopted for the Cheechoo tonalite mineralization can be found in the press
releases of
February 27
and
July 18, 2018
.
The
JT Prospect
is located 2.5 km to 3 km to the west of the Contact and Moni trends. This gold-
bearing zone was explored by drilling programs from 2008 to 2010 that targeted sedimentary
sequences. These sequences display comparable characteristics with the stratigraphy hosting the
Eleonore gold mine located 12 km to the northwest. Gold was identified in the metasedimentary
rocks above the tonalite-metasedimentary. However analytical results from some historical drill holes
indicate that the Cheechoo tonalite is also mineralized in this area, including hole ES08-12 which
returned 2.15 g/t Au over
14.0 m
in the intrusion.
Gold intersections in tonalite at the JT Prospect near the intrusive-metasedimentary contact may be
an extension of the Contact Trend to form a semi-ring shape approximately 5.5 km long. The
Cheechoo tonalite below the JT Prospect will be drill tested in the coming months.
About the Eleonore South Joint Venture Property
The Eleonore South Property is a three-way joint venture between Azimut (TSXV:AZM) (26.6%),
Eastmain Resources Inc. (TSX:ER) (36.7%) and Goldcorp Inc. (TSX:G; NYSE:GG) (36.7%).
Eastmain
is the operator of the current program under the supervision of
William McGuinty
, P.Geo.,
Eastmain's
VP Exploration, a qualified person as defined by National Instrument 43-101. The
technical information supporting this press release was provided by
Eastmain
and reviewed by
Jean-
Marc Lulin
, P.Geo., acting as Azimut's qualified person under National Instrument 43-101.
About Azimut Exploration
Azimut is a mineral exploration company whose core business is centred on target generation and
partnership development. Targeting uses a pioneering proprietary approach to Big Data
analytics (AZtechMine expert system) enhanced by extensive exploration know-how. The Company
maintains rigorous financial discipline. It has 48.5 million shares outstanding.
Azimut holds a strategic position for gold and base metals in
Quebec
, including one of the largest
exploration portfolios in the
James Bay
region (22 properties covering 4,767 claims or 2,476 km
2
).
www.azimut-exploration.com
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.
APPENDIX
Table 2: Fall 2018 Drill Hole Location Information (NAD 83, Zone 18N)
Hole_ID
Target
UTM East
UTM North
AZM
DIP
Total
Depth (m)
ES18-120
Contact Trend
438078
5829848
320
-50
306.0
ES18-121A
Contact Trend
437882
5829784
320
-50
173.2
ES18-121B
Contact Trend
437882
5829785
320
-50
300.0
ES18-122
Contact Trend
438126
5829673
320
-50
299.0
ES18-123
Contact Trend
438252
5829749
320
-50
354.0
ES18-124
Contact Trend
438321
5829772
320
-50
321.0
ES18-125
Contact Trend
437942
5829437
320
-50
300.0
ES18-126
Contact Trend
437788
5829462
320
-50
291.0
ES18-127
Contact Trend
437791
5829377
320
-50
312.0
ES18-128
Contact Trend
437597
5829343
320
-50
324.0
ES18-129
Contact Trend
437417
5829286
320
-50
258.0
ES18-130
Contact Trend
437361
5829194
320
-50
261.0
ES18-131
Contact Trend
437466
5829069
320
-50
264.0
ES18-132
Contact Trend
437263
5829312
320
-50
261.0
ES18-133
Contact Trend
437160
5829438
320
-50
261.0
Table 3: Eleonore South JV Project: Summary of Significant Drill Hole Results
December 13, 2018
(1),(2),(3)
Hole
Target
Au g/t
Interval (m)
From (m)
To (m)
Vertical Depth
ES18-120
Contact
Trend
0.55
8.2
18.8
27.0
18
1.75
1.5
incl. 25.5
27.0
0.54
2.8
82.8
85.6
65
0.35
4.8
197.0
201.8
153
0.40
34.5
220.5
255.0
182
0.50
9.5
incl. 220.5
230.0
0.45
12.5
incl. 234.0
246.5
ES18-121A
Contact
Trend
1.85
8.7
57.3
66.0
47
3.83
3.9
VG
incl. 57.3
61.2
2.84
3.9
78.6
82.5
62
9.06
0.9
VG
incl. 78.6
79.5
0.61
15.0
90.0
105.0
75
1.12
4.0
incl. 99.0
103.0
ES18- 121B
Contact
Trend
0.36
18.0
81.0
99.0
69
0.43
10.0
incl. 84.0
94.0
3.96
1.0
145.0
146.0
111
0.68
2.9
204.0
206.9
157
0.79
4.0
258.0
262.0
199
1.80
1.0
292.0
293.0
224
ES18-122
Contact
Trend
1.41
1.0
27.0
28.0
21
0.49
5.5
41.5
47.0
34
0.81
25.15
57.85
83.0
54
1.95
6.0
incl. 59.0
65.0
3.53
2.0
also incl. 59.0
61.0
2.30
1.8
incl. 81.2
83.0
0.75
2.0
133.0
135.0
103
0.54
6.8
187.0
193.8
146
0.95
6.0
213.0
219.0
165
2.64
1.0
incl. 217.0
218.0
0.61
4.0
245.0
249.0
189
0.78
8.0
258.0
266.0
201
1.99
2.35
incl. 260.15
262.5
ES18-123
Contact
Trend
0.49
3.8
53.0
56.8
42
0.47
59.0
119.0
178.0
114
3.95
1.3
incl. 166.7
168.0
1.15
10.6
232.0
242.6
182
7.08
1.2
incl. 241.4
242.6
0.61
3.0
290.0
293.0
223
1.74
11.5
342.5
354.0
267
2.85
5.6
incl. 348.4
354.0
8.20
2.0
also incl. 348.4
350.4
ES18-124
Contact
Trend
0.70
17.4
116.6
134.0
96
1.09
6.0
incl. 121.0
127.0
3.07
1.0
also incl. 126.0
127.0
1.01
1.0
163.0
164.0
125
0.50
13.4
185.1
198.5
147
2.71
1.3
incl. 197.2
198.5
3.42
4.0
295.0
299.0
228
12.30
1.0
incl. 298.0
299.0
ES18-125
Contact
Trend
1.14
1.1
44.0
45.1
34
1.27
1.5
58.0
59.5
44
0.48
19.0
123.0
142.0
102
0.95
2.5
incl. 127.5
130.0
ES18-126
Contact
Trend
0.39
2.8
29.5
32.3
24
1.21
1.5
96.0
97.5
74
2.08
8.0
141.0
149.0
111
3.52
4.5
incl. 141.0
145.5
8.22
1.5
incl. 141.0
142.5
0.51
10.5
167.5
178.0
132
1.28
3.0
incl. 170.5
173.5
1.11
3.0
190.0
193.0
147
1.62
1.5
252.0
253.5
194
ES18-127
Contact
Trend
0.85
3.0
78.5
81.5
61
0.45
31.3
109.4
140.7
36
0.59
16.5
incl. 120.9
137.4
2.16
1.1
also incl. 120.9
122.0
0.53
9.0
169.5
178.5
133
0.91
4.0
191.0
195.0
148
2.08
1.0
incl. 194.0
195.0
0.76
6.0
210.0
216.0
163
1.54
1.5
incl. 214.5
216.0
1.75
1.0
222.0
223.0
170
0.69
25.0
266.7
291.7
214
2.77
0.6
incl. 266.7
267.3
5.15
1.4
incl. 281.1
282.5
1.91
1.1
299.7
300.8
230
ES18-128
Contact
Trend
0.77
1.9
59.3
61.2
46
1.00
10.5
139.5
150.0
111
9.08
0.7
incl. 148.0
148.7
0.44
11.3
180.0
191.3
142
0.52
3.5
231.0
234.5
178
0.47
7.6
248.4
256.0
193
1.41
1.5
268.0
269.5
206
1.43
1.5
304.5
306.0
234
ES18-129
Contact
Trend
1.87
1.0
70.0
71.0
54
0.50
6.4
94.5
100.9
75
0.79
5.5
129.0
134.5
101
1.51
10.0
143.5
153.5
114
12.70
1.0
incl. 143.5
144.5
2.09
7.5
173.0
180.5
135
8.02
1.5
incl. 179.0
180.5
1.38
1.5
243.4
244.9
187
ES18-130
Contact
Trend
1.04
1.1
46.5
47.6
36
1.37
5.5
94.0
99.5
74
4.24
1.5
incl. 98.0
99.5
0.51
3.7
221.3
225.0
171
ES18-131
Contact
Trend
0.58
5.5
133.5
139.0
104
0.95
2.5
257.5
260.0
198
ES18-132
Contact
Trend
2.22
5.1
43.9
49.0
36
13.00
0.8
incl. 43.9
44.7
ES18-133
Contact
Trend
2.82
3.0
103.0
106.0
80
14.70
6.2
164.8
171.0
129
80.40
1.0
VG
incl. 167.0
168.0
5.94
1.5
incl. 169.5
171.0
Notes: (1) Assays are not capped; (2) Intervals represent core lengths; true widths have not yet been determined; (3) Vertical depth is measured from surface to the mid-point of
the reported interval.
VG =
Visible Gold
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/December2018/17/c5339.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 09:15e 17-DEC-18