Azimut and SOQUEM cover the Gold- Polymetallic Pikwa Property with a Heliborne Geophysical Survey, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and SOQUEM cover the Gold-
Polymetallic Pikwa Property with a Heliborne
Geophysical Survey, James Bay region,
Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
March 20, 2019
/CNW Telbec/ -
Azimut Exploration Inc.
("
Azimut
" or the
"
Company
") (
TSXV: AZM
) is pleased to announce that a 2,100-line-kilometre electromagnetic
(VTEM
TM
Plus) and magnetic heliborne survey is in progress to cover a major gold-polymetallic
target on the
Pikwa Property
(the "
Property
") in the
James Bay
region of
Quebec
. The results will
help define the next exploration phase on the Property.
The Property is jointly owned with
SOQUEM Inc.
("
SOQUEM
"), a subsidiary of Ressources
Québec, under a Strategic Alliance for the
James Bay
region. Major new developments of the
Strategic Alliance were disclosed in the Company's press release of
February 25, 2019
.
The following features underscore the strong mineral potential of the Property (
see Figures 1 to 3
):
Two main prospects on the Property:
Hyperion
(up to 7.17 g/t Au, 0.23% Co in grab samples
from outcrops) and
Copperfield
(up to 2.95% Cu, 0.22 g/t Au, 7.58 g/t Te in mineralized
samples from boulders). Another area, 4 km east of Hyperion, displays high background gold
values (up to 0.9 g/t Au) with anomalous bismuth (up to 217 g/t Bi) and molybdenum (up to
0.106% Mo) (see press release of
November 6, 2018
).
A
20-km-long target zone
on the Property containing the prospects, defined mainly by a linear
magnetic high
, correlates well with a strong and extensive
Cu-Mo-Ag-Bi-W geochemical
footprint
in lake-bottom sediments; Azimut identified this footprint by processing a database
totaling 27,248 samples (MERN and Azimut sampling) collected at the scale of the
James Bay
region over 172,185 km
2
(see press release of
November 27, 2018
).
A polymetallic mineralized zone on the adjacent
Mythril
property discovered by
Midland
Exploration Inc.
(
TSXV: MD
); this 2-km-long zone has a
Cu-Mo-Au-Ag-Bi
metal assemblage
that correlates well with the linear magnetic high on Pikwa and is directly on strike with the
large-scale geochemical footprint extending across the Property.
Geotech Ltd of
Aurora, Ontario
is conducting the VTEM
TM
Plus time-domain electromagnetic and
magnetic survey with 200-metre spaced lines covering the Property and a portion of its immediate
surroundings (
see Figure 4
).
The Property (701 claims, 359.4 km
2
) is 40 km long by 17 km wide and provides a controlling
position over a major polymetallic target. It is located 303 kilometres east of the Cree community of
Wemindji
in an area serviced by excellent infrastructure, including permanent roads, power grids and
airport facilities. The Trans-Taiga Road, an east-west gravel highway through the region, crosses
the Property. The current work phase is 100% partner-funded with Azimut as the operator.
This press release was prepared by Dr. Jean-Marc Lulin, P.Geo., acting as Azimut's qualified
person under National Instrument 43-101.
About SOQUEM
SOQUEM
, a subsidiary of Ressources Québec, has a mission to encourage the exploration,
discovery and development of mining properties in
Quebec
. SOQUEM also contributes to
maintaining strong local economies. Proud partner and ambassador for the development of
Quebec's
mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well
positioned for the future.
About Azimut
Azimut
is a mineral exploration company whose core business is centred on target generation and
partnership development. The Company uses a proprietary pioneering approach to big data
analytics (
AZtechMine
TM
expert system) enhanced by comprehensive exploration know-how. Azimut
holds a strategic position for gold and base metals in
Quebec
totalling 26 properties. Azimut
maintains rigorous financial discipline and has 53 million shares outstanding.
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.
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/March2019/20/c3942.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 07:00e 20-MAR-19