Azimut and SOQUEM obtain New Results from the Munischiwan Property (Au, Ag, Cu), James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and SOQUEM obtain New Results from
the Munischiwan Property (Au, Ag, Cu), James
Bay region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Dec. 5, 2018
/CNW Telbec/ -
Azimut
Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) is pleased to report additional prospecting results from the Munischiwan
Property, which is jointly owned with SOQUEM Inc. ("
SOQUEM
") under a Strategic Alliance
covering the
James Bay
region of
Quebec
(
see Figure 1
). Best results include
100.5 g/t Au, 151.0
g/t Ag and 156.0 g/t Te
from the
InSight Prospect
, formerly named Maschakw (see press release
of
October 25, 2018
). The next step will be to carry out a ground-based geophysical survey
(induced polarization) this winter over the surface discovery to define drilling targets.
Highlights are as follows:
Significant results from 28 grab samples from the InSight Prospect:
100.5 g/t Au, 151.0 g/t Ag, 156.0 g/t Te, 0.14% Cu
4.89 g/t Au, 196.0 g/t Ag, 0.30% Cu
2.28 g/t Au, 4.65 g/t Ag, 0.29% Cu
1.92 g/t Au, 38.4 g/t Ag, 14.3 g/t Te, 0.63% Cu
1.86 g/t Au, 5.48 g/t Ag, 2.99 g/t Te
1.64 g/t Au, 29.8 g/t Ag, 0.84% Cu
1.35 g/t Au, 3.46 g/t Ag, 0.28% Cu
The Prospect is 600 metres long by 100 to 150 metres wide, open in all directions, dipping
about 30° east (
see Figure 2 and Photos 1 to 3
). An additional gold showing 600 metres to the
south (2.42 g/t Au) may represent the extension of the Prospect, bringing the minimum
prospective strike to 1,200 metres.
Mineralization is mostly composed of disseminated chalcopyrite, quartz veins and quartz veinlets
hosted in foliated metasediments with strong biotite alteration.
There were no known showings on the Property before the current exploration initiative.
The
Munischiwan Property
(167 claims, 87.5 km
2
), located about 85 kilometres east of the Cree
community of
Eastmain
, is in an area serviced by excellent infrastructure including permanent roads,
power grids and airport facilities. The exploration program is funded by SOQUEM with Azimut as
operator. All assay results from the 355 grab samples collected during the 2018 prospecting
campaign have now been received, which include the 28 additional samples from Insight. Grab
samples are selective by nature and unlikely to represent average grades.
SOQUEM has selected six properties under the terms of the Strategic Alliance for a total of
2,376 claims (1,223 km
2
):
Munischiwan
(167 claims)
Pontois
(399 claims),
Pikwa
(701 claims),
Galinée
(658 claims),
Dalmas
(88 claims) and
Desceliers
(363 claims). In addition, three other
projects are the subject of preliminary field reconnaissance programs under the Strategic Alliance:
Corvet
(80 claims),
Synclinal North
(46 claims) and
Synclinal South
(54 claims).
These six properties, along with others, are the direct outcome of the Company's 2016 predictive
mineral potential modelling of the
James Bay
region, covering 176,300 square kilometres. The
methodology, based on Big Data analytics and the proprietary AZtechMine expert system, led to the
definition and ranking of multiple prospective targets that represent less than 1.0% of the modelled
region, resulting in highly focused exploration efforts.
The field program was placed under the direction of François Bissonnette, Operations Manager for
Azimut, and Dr. Martin Tuchscherer, Chief Geologist for Azimut. This press release was prepared by
Dr. Jean-Marc Lulin, P.Geo., 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
Quebec
.
Its mission is to explore, discover and develop mining properties in
Quebec
. SOQUEM has
participated in more than 350 exploration projects and contributed to major discoveries of gold,
diamonds, lithium and other minerals.
Azimut
is a mineral exploration company whose core business is centred on target generation and
partnership development. Targeting uses a pioneering proprietary approach to Big Data analytics
enhanced by extensive exploration know-how. The Company maintains rigorous financial discipline. It
has 48.5 million shares outstanding.
Azimut holds a strategic position for gold and base metals in
Quebec
, including one of the largest
exploration portfolios in the
James Bay
region (22 properties covering 4,767 claims or 2,476 km
2
).
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/December2018/05/c1042.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 05-DEC-18