Azimut and Partners Commence an 8,000-Metre Drilling Program at Eleonore South, James Bay Region, Quebec Symbol: AZM.TSX Venture
Azimut and Partners Commence an 8,000-Metre Drilling Program at Eleonore
South, James Bay Region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC, Aug. 9, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company" )
(TSXV: AZM ) is pleased to announce Phase 1 of a 8,000 m diamo nd drilling program has begun on the
Eleonore South JV Property. Phase 2, comprised of 3,600 m, will begin in January following a full
assessment of the Phase 1 results. The drilling is part of a comprehensive $3.9 million program, follo wing
up on the 2016-2017 drill program (see press release of July 20, 2017) and guided by additional surface
geological and geophysical exploration underway on the Property. The Property is adjacent to Goldcorp' s
Eleonore mine property in the James Bay region of Q uebec (see attached figures ).
Phase 1 is comprised of 20 holes (4,400 m) to be undertaken from early August to October. Phase 1
targets include:
1. Follow-up drilling to assess the grade and geome tric continuity of significant drilling results
intersected in the tonalite intrusion, including 4.9 g/t Au over 45.0 m (Hole ES17-64) and
0.65 g/t Au over 144.0 m (Hole ES17-60) and to extend drilled geological sections
southwards to the tonalite contact with metasedimen ts. Nine (9) holes totalling 2,250 m are
planned for this part of the program.
2. Continue drill testing of the NE-SW striking, 4 km long by 500 m wide gold-bearing corridor
outlined on the Property. This corridor corresponds to a hydrothermally altered tonalite
intrusion along or close to its contact with metasediments. An area located south of the JT
Prospect, marked by the changing direction of the intrusion-metasediment contact, is one of
the priority targets to be tested. Five (5) holes totalling 1,250 m are planned for this part of
the program.
3. An additional 900 m (6 holes) will be allocated to drill-test new targets developed from
surface exploration.
About the Eleonore South Joint Venture Property
The Eleonore South Property is a three-way joint venture between Azimut Exploration Inc., Eastmain
Resources Inc. (TSX: ER) and Les Mines Opinaca Ltée ("Opinaca"), a wholly-owned subsidiary of
Goldcorp Inc. (TSX: G; NYSE: GG). Ownership in the Property is as follows: Azimut 26.6%, Eastmain
36.7% and Goldcorp 36.7%. Azimut is the operator of the current program.
About Azimut Exploration
Azimut is a mineral exploration company with its core business centred on target generation and
concurrent partnership development. Targets are identified using advanced processing of large
geoscientific databases enhanced by extensive exploration know-how. Azimut holds a strategic position
for gold and base metals in Quebec, including one of the largest exploration portfolios in the James B ay
region (20 properties covering 3,965 claims or 2,059 km 2). In 2017, the exploration budget amounts to
$6 million, 76% of which is funded by partners. The Company has 45.4 million shares outstanding.
This press release was prepared by geologist Jean-M arc Lulin, acting as Azimut's qualified person under
National Instrument 43-101.
SOURCE Azimut Exploration Inc.
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For further information: Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450) 646-
3045, [email protected], www.azimut-explo ration.com
CO: Azimut Exploration Inc.
CNW 06:30e 09-AUG-17