Azimut and SOQUEM Identify Induced Polarization Anomalies over the InSight Au-Ag-Cu Discovery, Munischiwan Property, James Bay Symbol: AZM.TSX Venture
Azimut and SOQUEM Identify Induced
Polarization Anomalies over the InSight
Au-Ag-Cu Discovery, Munischiwan
Property, James Bay
Symbol: AZM.TSX Venture
LONGUEUIL, QC, April 30, 2019 /CNW Telbec/ - Azimut Exploration
Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to
announce the preliminary results of an induced polarization ("IP")
ground geophysical survey over the InSight discovery (Au-Ag-Cu)
on the Munischiwan Property (the "Property") in the James Bay
region of Quebec (see Figure 1). The next exploration phase will start
in June 2019 and will consist of detailed prospecting followed by
diamond drilling.
The Property is jointly owned with SOQUEM Inc. ("SOQUEM"), a
subsidiary of Ressources Québec, under a Strategic Alliance covering
the James Bay region. Major new developments of the alliance were
disclosed in the Company's press release of February 25, 2019.
The InSight discovery is currently defined as a 150-metre by 600-
metre envelope based on outcropping mineralization. Grab samples
yielded up to 100.5 g/t Au, 435 g/t Ag, 156 g/t Te and 1.67% Cu.
The new geophysical data significantly extend the potential of this
prospect.
HIGHLIGHT (see Figures 2 and 3)
• The InSight discovery is characterized by a 300-metre by at least
1,000-metre coincident IP anomaly striking NNW-SSE (the
"InSight Target Zone").
• Other IP anomalies, subparallel to and/or on strike with the
InSight discovery, constitute highly prospective targets within a
1-kilometre by at least 3-kilometre trend.
• Heliborne magnetic data (Geotech 2017) show a good spatial
correlation with the IP anomalies, thereby strengthening the
target definition.
The discovery of the InSight prospect is the direct outcome of the
Company's predictive modelling using the AZtechMineTM expert
system over the James Bay region. The prospect has been described
in the press releases of October 25, 2018, December 5, 2018 and
March 25, 2019. Mineralization is mostly composed of disseminated
chalcopyrite, quartz veins and quartz veinlets hosted in foliated
metasediments with strong biotite alteration. Grab samples are
selective by nature and unlikely to represent average grades.
Geosig Inc. of Quebec City (Quebec) conducted the geophysical
survey over the InSight discovery and its potential extensions on a
grid about 3.1 kilometres long by 2 kilometres wide with 100-metre line
spacing. The IP survey totalled 70-line-km and used a pole-dipole
array with readings every 25 metres (n=1 to 8).
The Munischiwan Property (167 claims, 87.5 km2) is located about 85
kilometres east of the Cree community of Eastmain in an area
serviced by excellent infrastructure including permanent roads, power
grids and airport facilities. The current work phase is funded by
SOQUEM with Azimut as the operator.
The Company is planning substantial programs in 2019 (alone or with
partners) on nine of its other properties in the James Bay region:
• Pikwa (Au, Cu): Azimut-SOQUEM
• Pontois (Au): Azimut-SOQUEM
• Desceliers (Au, Cu): Azimut-SOQUEM
• Galinée (Au): Azimut-SOQUEM
• Dalmas (Au): Azimut-SOQUEM
• Eleonore South (Au): Azimut-Newmont-Goldcorp-Eastmain
• Elmer (Au, Ag, Cu, Zn): 100% Azimut
• Duxbury (Au): 100% Azimut
• Kaanaayaa (Au, Cu): 100% Azimut
This press release was prepared by Jean-Marc Lulin, P.Geo., acting
as Azimut's qualified person under National Instrument 43-101. Joël
Simard, P.Geo., senior consulting geophysicist for Azimut, has
processed and interpreted the preliminary data of the IP survey and
reviewed the content of this release.
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 Exploration
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 (AZtechMineTM expert system) enhanced by extensive
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 53.3 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/April2019/30/c3135.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 30-APR-19