Azimut and SOQUEM identify strong gold targets on the Galinée and Dalmas projects, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and SOQUEM identify strong gold targets on the
Galinée and Dalmas projects, James Bay region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
May 31, 2018
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) has identified
strong gold targets on the Galinée and Dalmas projects during an assessment program conducted under the
Strategic Alliance
with
SOQUEM
(
"the Alliance"
) in the
James Bay
region. The definition of a follow-up work program is underway and will be announced once finalized.
The main gold target area on the Galinée Property is identified by a detailed lake-bottom sediment survey covering the 36-km-long property. This
target area is defined by an 8 km by 9 km
very unusual cluster of high gold values in lake sediments
(1,890 ppb Au, 877 ppb Au, 380 ppb
Au, 217 ppb Au, etc.) associated with other geochemical gold pathfinders (arsenic, bismuth and antimony). Three additional multi-kilometre
attractive targets have been defined laterally on the property by strong combined arsenic, antimony, bismuth and/or tungsten anomalies. These
targets correlate spatially with an under-explored sheared greenstone belt surrounded by felsic intrusions. Based on these results, Azimut has
recently added 174 new map-staked claims (90 km
2
) to the property.
A 7.5 km by 3 km target has been identified on the Dalmas Property by a strong footprint of arsenic bismuth, copper and antimony in lake bottom
sediments, which is well correlated spatially with a small under-explored greenstone belt.
The results presented is this press release are part of a comprehensive lake-bottom sediment survey (614 samples) undertaken in mid-2017 on six
gold projects:
Galinée
(587 claims, 303 km
2
): 264 samples collected
Dalmas
(77 claims, 39.3 km
2
): 72 samples collected
Sauvolles
(150 claims, 77 km
2
): 125 samples collected
Orsigny
(46 claims, 23.6 km
2
): 52 samples collected
Synclinal North
(46 claims, 24.1 km
2
): 48 samples collected
Synclinal South
(54 claims, 28.4 km
2
): 53 samples collected
These projects are wholly owned by Azimut and comprise 960 claims for a total surface area of 495.4 km
2
. SOQUEM will use the results to
decide which properties it will retain for additional investment under the terms of the Alliance (see press releases of
September 26, 2016
and
July
13, 2017
). This program was funded by SOQUEM.
Other active properties under the terms of the Alliance include
Munischiwan
(159 claims, 83.4 km
2
),
Pikwa
(420 claims, 215.3 km
2
),
Corvet
(72 claims, 37 km
2
),
Pontois
(418 claims, 213 km
2
) and
Desceliers
(363 claims, 188.4 km
2
). Except for Corvet, all other properties are jointly
owned by Azimut and SOQUEM. The results of last summer's exploration program on these five properties will soon be released.
Since the formation of the Alliance in 2016, Azimut has completed field work on eleven new gold projects (2,392 claims, 1,132.5 km
2
) based on
the Company's mineral potential modelling for gold covering the
James Bay
region (176,300 km
2
). Azimut is manager of the Alliance.
The James Bay–Eeyou Istchee Territory is one of the most active regions for gold exploration in
Canada
. Azimut is among the leading exploration
companies in the region with a portfolio of 21 properties covering 4,350 claims (2,260 km
2
).
This press release was prepared by geologist
Jean-Marc Lulin
acting as Azimut's Qualified Person under National Instrument 43-101.
SOQUEM
, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and
develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of
gold, diamonds, lithium and other minerals.
Azimut
Exploration
is a mineral exploration company whose core business is centred on target generation and partnership development.
Targeting is performed using a pioneering proprietary approach to Big Data analytics, enhanced by extensive exploration know-how. The
Company maintains rigorous financial discipline and has 48.5 million shares outstanding.
Azimut holds a strategic exploration portfolio for gold and base metals in
Quebec
. The Company's other current significant exploration programs
include the
Eleonore South Property
(Azimut-Goldcorp-Eastmain JV)
and the
Chromaska Property (100% Azimut)
. Both programs have
results that are pending.
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/May2018/31/c8338.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 31-MAY-18