Azimut and SOQUEM identify Strong Electromagnetic Conductors on the Pikwa Property, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and SOQUEM identify Strong
Electromagnetic Conductors on the Pikwa
Property, James Bay region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
April 15, 2019
/CNW Telbec/ -
Azimut Exploration Inc.
("
Azimut
" or the
"
Company
") (
TSXV: AZM
) is pleased to announce encouraging preliminary results from a 2,234-
line-kilometre electromagnetic (VTEM
TM
Plus) and magnetic heliborne survey covering a major gold-
polymetallic target on the
Pikwa Property
(the "Property") in the
James Bay
region of
Quebec
(
see Figure 1
).
A well-defined 10.5-kilometre-long corridor of strong electromagnetic ("EM") conductors hosts the
Hyperion Prospect
(
up to 7.17 g/t Au
). Other conductors are on strike with the
Copperfield
Prospect
(
up to 2.95% Cu
), as well as the adjacent polymetallic
Mythril Discovery
of
Midland
Exploration Inc.
(
TSXV: MD
).
The upcoming 2019 exploration phase will consist of focussed prospecting and mechanized
stripping, a soil geochemical survey, ground geophysics and likely 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. Previous results from the
Property were released on
November 6
and 27, 2018 and on
March 20, 2019
. Major developments
of the Strategic Alliance were disclosed in the Company's press release of
February 25, 2019
.
HIGHLIGHTS
(
see Figures 2 to 7
)
Strong EM conductors, with a cumulative length of about 7.4 kilometres, correlate well with
linear magnetic highs along two main directions (E-W and WSW-ENE). Most of the conductors
defined at this time are subcropping with probable subvertical dips.
The Hyperion Prospect occurs within a well-defined 10.5-kilometre-long E-W corridor of
combined EM conductors and magnetic highs. The prospect is characterized by high
concentrations of arsenopyrite in gold-bearing rocks.
The Copperfield Prospect occurs within a separate 20-kilometre-long WSW-ENE linear
magnetic high that also encompasses several EM conductors. This same trend hosts the Mythril
Discovery, a 2-kilometre-long mineralized zone immediately east of the Property, which appears
to be coincident with strong soil geochemistry and induced polarization anomalies based on
publicly released information.
In a geochemical context, EM conductors occur within a strong property-scale polymetallic (Cu-
Mo-Ag-Bi-W) footprint in lake-bottom sediments, which is particularly pronounced for copper
and bismuth.
In a geological context, EM conductors are present along the boundary of a large tonalitic
intrusion and metavolcanics, and close to small granitic intrusions hosted in metavolcanics or
metasediments; this environment is recognized as prospective for intrusion-related
mineralization.
Geotech Ltd of
Aurora, Ontario
was contracted to carry out the VTEM
TM
Plus and magnetic survey,
which totalled 2,234-line-kilometres on the Property and a portion of its immediate surroundings.
Line spacing was 200 metres (2,117 line-km) except where a tighter spacing of 100 metres (117
line-km) was locally used to infill specific areas of interest.
The Property was acquired in 2016 as a follow-up of Azimut's regional predictive modelling covering
176,300 square kilometres of the
James Bay
region. The Property (701 claims, 359.4 km
2
) is
40 kilometres long by 17 kilometres 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
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 interpreted
the preliminary data of the survey and revised 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
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 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.
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/April2019/15/c5303.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 15-APR-19