Azimut and Partners continue to hit gold mineralization at Eleonore South, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and Partners continue to hit gold mineralization at Eleonore South, James
Bay region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC, Dec. 12, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the
"Company" ) ( TSXV: AZM ) is pleased to announce the results of the first eighteen (18) holes (4,443 m)
of the 8,000-metre 2017-2018 diamond drilling progr am on the Eleonore South JV Property. The
Eleonore South Property is adjacent to the Eleonore Property hosting the major Eleonore gold mine
owned and operated by Goldcorp.
Eleonore South continues to deliver very encouraging drilling results that complement the previously
reported high-grade channel and grab samples (see p ress releases of October 17 and November 16,
2017). A new diamond drilling phase of 3,600 metres is scheduled for early next year to complete the
program. It will follow up on drill results and test new high-grade targets (Moni Trend).
New Results Highlights (see attached Figures 1 to 5 and Table )
Hole ES17-74: 0.88 g/t Au over 21.0 m
Hole ES17-75: 0.94 g/t Au over 10.5 m
Hole ES17-77: 1.46 g/ Au over 45.5 m (including 23.1 g/t Au over 1.5 m ) and
11.69 g/t Au over 1.5 m
Hole ES17-80: 1.11 g/t Au over 6.0 m and
6.13 g/t Au over 9.0 m (including 22.9 g/t Au over 1.5 m )
Hole ES17-81: 5.93 g/t Au over 1.5 m
Hole ES17-85: 22.4 g/t Au over 1.2 m
Hole ES17-88: 1.53 g/t Au over 6.0 m
3.15 g/t Au over 24.0 m (including 13.5 g/t Au over 3.0 m and
19.3 g/t Au over 1.50 m )
Hole ES17-89: 1.04 g/t Au over 6.2 m
Hole ES17-90: 4.45 g/t Au over 4.5 m (including 12.35 g/t Au over 1.5 m and
1.04 g/t Au over 6.0 m)
Hole ES17-91: 1.17 g/t Au over 4.5 m
A significant feature of the project is that most of these gold-bearing sections are found within or near
wide gold-bearing mineralized envelopes. These notably include:
Hole ES17-74: 0.45 g/t Au over 87.0 m
Hole ES17-75: 0.49 g/t Au over 63.0 m
Hole ES17-77: 0.53 g/t Au over 106.0 m
Hole ES17-80: 0.65 g/t Au over 147.5 m
Hole ES17-87: 0.49 g/t Au over 76.5 m
Hole ES17-89: 0.57 g/t Au over 19.5 m
Hole ES17-90: 0.49 g/t Au over 123.5 m
Hole ES17-91: 0.61 g/t Au over 15.0 m
Objectives of the Program
The drilling objectives are to: a) further assess the grade and geometric continuity of previous significant
drill results within the tonalite intrusion; and b) continue drill testing the 4-kilometre by 500-metr e corridor,
particularly south of the JT Prospect where the intrusion-metasediment contact changes direction.
Key progress
• Three (3) wide tonalite-hosted mineralized zones, with a minimum cumulative length of 400 metres,
have been identified along a 1.4-kilometre northeast-southwest strike, close to the tonalite-
metasediment contact. These zones may extend along strike and/or down dip ( Figure 5 ).
• In all three zones, high-grade intersections have been obtained, mostly related to quartz-biotite
stockworks with arsenopyrite and native gold, but their extent and shapes remain undefined. Native
gold has been identified in 15 holes over a total of 18 holes completed.
• The tonalite-metasediment contact is generally sha llow-dipping to the southeast (dip from 20 o to
50 o). This significantly expands the tonalite exploration potential at relatively shallow depths beneath
the metasediments.
• Where this shallow-dipping intrusive contact is ov erlain by metasediments, it suggests an un-eroded
context that may correspond to the top of the intrusion, a geological setting considered highly
prospective for intrusion-related mineralization.
• At the scale of the intrusion, drilling along its southern limit has confirmed its gold potential ove r a
distance of approximately 4 kilometres, from hole E S17-62 in the east to the JT Prospect in the west.
The minimum footprint width of the tonalite-hosted gold-bearing system, from the high-grade Moni
Prospect to the southern limit of the intrusion, is 500 metres.
• Upcoming drilling programs will be optimized using : a) the recently completed high-definition
heliborne magnetic survey that provided useful spatial correlations among mineralized zones; and b)
detailed soil geochemistry, systematic prospecting and mechanical stripping.
Table 1 presents the significant gold assays for eighteen (18) holes (ES17-74 to ES17-91) from the
current drilling phase. Drill hole locations are shown on Figures 2, 3 4 and 5.
From east to west, the most significant drilling results are summarized as follows:
• Hole ES17-77 intersected 1.46 g/t Au over 45.5 m and 0.53 g/t Au over 106.0 m . This hole was
drilled as a 50-metre down-dip step-out of hole ES17-60 (0.65 g/t Au over 144.0 m , including 1.89
g/t Au over 22.5 m ). The mineralized facies are related to quartz-biotite veinlets hosted in strongly
silicified tonalite with albite-actinolite alteration and up to 2% arsenopyrite. This very wide
mineralized envelope (> 100 m true thickness) is open down dip and along strike. It is close to the
tonalite-metasediment contact dipping 50 o to the southeast.
• Holes ES17-74, ES17-75, ES17-76 and ES17-79 were d rilled to follow up on significant previous
drilling results:
• Hole ES17-64: 3.04 g/t Au over 77.3 m including 4.9 g/t Au over 45.0 m ;
• Hole ES16-51: 0.62 g/t Au over 79.1 m including 5.0 g/t Au over 4.0 m ; and
• Hole ES16-55: 1.58 g/t Au over 12 m and 0.59 g/t Au over 28.5 m .
Two new holes returned the following significant gold intercepts:
• Hole ES17-74: 0.56 g/t Au over 54.0 m including 0.88 g/t Au over 21.0 m ; and
• Hole ES17-75: 0.49 g/t Au over 63.0 m including 0.94 g/t Au over 10.5 m
These results suggest a subhorizontal gold-bearing lens 35 to 50 metres thickness. Within this envelope,
higher grade sections of still undefined geometry c orrespond to strongly silicified tonalite with quartz-
biotite stockwork, arsenopyrite and native gold.
• Holes ES17-80 and ES17-81 were drilled to follow u p on results obtained in hole ES17-70
(6.61 g/t Au over 3.0 m ). Based on visual observations during the program, holes ES17-87, ES17-
88, ES17-89, ES17-90 and ES17-91 were added to furt her test the area. The best intercepts are:
• Hole ES17-80: 0.65 g/t Au over 147.5 m including 1.11 g/t Au over 6.0 m , and 6.13 g/t Au
over 9.0 m
• Hole ES17-81: 5.93 g/t Au over 1.5 m
• Hole ES17-87: 0.49 g/t Au over 76.5 m
• Hole ES17-88: 1.53 g/t Au over 6.0 m and 3.15 g/t Au over 24.0 m
• Hole ES17-89: 1.04 g/t Au over 6.2 m and 0.57 g/t Au over 19.5 m
• Hole ES17-90: 0.49 g/t Au over 123.5 m including 4.45 g/t Au over 4.5 m
• Hole ES17-91: 0.61 g/t Au over 15.0 m including 1.17 g/t Au over 4.5 m
This area displays strong similarities with the two zones described above. This tonalite-hosted gold-
bearing envelope is roughly 45 to 100 metres thickn ess with a shallow dip to the southeast. The geometry
of higher grade sections is still undefined. This prospective zone appears open laterally and down dip,
below the tonalite-metasediment contact dipping 20 o to the southeast.
• Further west, hole ES17-85 returned 22.40 g/t Au over 1.2 m . This section is related to a sheared
biotite schist (possible lamprophyre) with native gold.
Target types
Two main target types stand out within the tonalite intrusion:
1. A high-grade gold-bearing quartz-feldspar pegmat itic vein system with native gold ("Moni-
type"). The extent and geometry of this mineralized system remain largely undefined, but
surface results at the Moni Prospect clearly indicate the potential for grade and geometric
continuity. This target type will be thoroughly tested by drill ing during the upcoming
program.
2. Kilometre-scale zones of considerable width char acterized by quartz-albite-biotite
stockworks or a network of quartz-albite veinlets of variable density, both accompanied by
small amounts of sulphides (arsenopyrite, pyrite, p yrrhotite) and frequent native gold. This
press release reports on drilling corresponding to this target type. Results warrant in-
fill drilling and drilling along the strike of several well-defined target zones.
Both types are interpreted to be part of an extensive late-magmatic hydrothermal system related to the
tonalite intrusion. In this geological environment, the surrounding metasediments may also constitute
potential targets depending on favourable lithological and structural settings.
Drilling contract and analytical protocol
The drilling contract was awarded to Chibougamau Dr illing Ltd based in Chibougamau, Quebec. The hole
diameter is BTW.
Drill core samples were sent to ALS Minerals in Val-d'Or, Quebec. Gold was analyzed by fire assay with
atomic absorption and gravimetric finish for grades above 3.0 g/t Au. Samples were also analyzed for a
48-element suite using ICP. Azimut applied industry-standard QA/QC procedures to the program.
Certified reference materials, blanks and field duplicates were inserted in all drill core batches shipped to
the laboratory.
About the Eleonore South Joint Venture Property
The Eleonore South Property is a three-way joint venture between Azimut, 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%.
The 2017-2018 program is operated by Azimut under t he supervision of Dr. Jean-Marc Lulin and the field
direction of François Bissonnette, both professional geologists and qualified persons under National
Instrument 43-101. This press release was prepared by Jean-Marc Lulin, acting as Azimut's qualified
person.
About Azimut Exploration
Azimut is a mineral exploration company whose core business is centred on target generation and
concurrent partnership development. Targeting is performed using a pioneering proprietary approach to
Big Data analytics, enhanced by extensive explorati on know-how.
Azimut holds a strategic position for gold and base metals in Quebec, including one of the largest
exploration portfolios in the James Bay region (21 properties covering 4,135 claims or 2,116 km 2).
The Company maintains rigorous financial discipline. It has 45.4 million shares outstanding. Azimut's
2017 exploration budget is $6.3 million, 77% of which is funded by partners.
Neither TSX Venture Exchange nor its Regulation Ser vices 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.
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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 12-DEC-17