Azimut and SOQUEM report additional results from the Copperfield Trend, Pikwa Property, James Bay region, Quebec Symbol: AZM.TSX Venture
Azimut and SOQUEM report additional results
from the Copperfield Trend, Pikwa Property,
James Bay region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Oct. 23, 2019
/CNW Telbec/ -
Azimut Exploration Inc.
("
Azimut
" or the
"
Company
") (
TSXV: AZM
) is pleased to report excellent additional results from the
Copperfield
Trend
on the
Pikwa Property
(the "Property") in the
James Bay
region of
Quebec
. These results
follow up on the discovery of a
5.2-kilometre-long mineralized boulder field
spatially associated
with
mineralized outcrops
, as announced in the press release of
October 16, 2019
(
see Figures 1 to 7
).
An additional batch of 20 samples yielded the following best results from outcrops (o) and boulders
(b):
Copper (%)
Gold (g/t)
Silver (g/t)
Molybdenum (%)
Sample #
6.92
0.19
58.0
0.0551
A0366587 (b)
6.37
0.56
9.95
0.0017
A0366594 (b)
6.33
0.36
15.25
0.0004
A0366596 (b)
3.65
1.14
7.66
0.0027
A0366517 (o)
3.39
0.94
7.48
0.0036
A0366595 (b)
3.17
0.22
15.65
0.0040
A0366586 (b)
2.74
0.54
2.46
0.0012
A0366512 (o)
2.31
0.06
9.47
0.0021
A0366591 (b)
1.73
0.23
17.0
0.0566
A0366592 (b)
1.39
0.42
2.86
0.0005
A0366516 (o)
1.22
0.64
2.43
0.0327
A0366513 (o)
0.86
0.33
1.53
0.0043
A0366510 (o)
0.76
0.14
4.3
0.0061
A0366593 (b)
0.53
0.08
8.32
0.0276
A0366505 (b)
0.45
0.14
4.2
0.0010
A0366507 (b)
0.35
0.11
2.64
0.0381
A0366506 (b)
A total of 114 mineralized grab samples were collected from outcrops and boulders along the
Copperfield Trend in an area with generally poor outcrop exposure. Assay results for the remaining
78 samples are pending.
The mineralization context can be characterized as follows:
The dominant copper mineral is chalcopyrite occurring as disseminations or semi-massive
veins and veinlets accompanied by frequent bornite and chalcocite, and lesser amounts of
malachite and occasional azurite;
Other sulphides include molybdenite and, less frequently, pyrite and pyrrhotite;
Mineralization is principally hosted in biotite-rich gneisses (interpreted as altered
metadiorite or granodiorite); the host rocks show varying degrees of potassic (biotite,
potassic feldspar), sericite, epidote, chlorite and magnetite alteration;
Mineralization generally occurs along foliation planes often associated with quartz veinlets;
and
Foliation strikes ENE-WSW and dips on average 50° to 60° to the south.
Previously announced results for the Copperfield Trend were as follows (press release of
October
16, 2019
):
Copper (%)
Gold (g/t)
Silver (g/t)
Molybdenum (%)
Sample #
9.81
13.45
37.6
0.0007
A0366271 (o)
4.94
2.99
41.3
0.1635
A0366264 (b)
2.54
1.36
3.64
0.0035
A0366269 (o)
2.06
0.41
6.27
0.0115
A0366439 (b)
0.93
0.38
10.0
0.0097
A0366266 (b)
0.70
0.15
6.04
0.0143
A0366435 (b)
0.69
0.36
8.81
0.2460
A0366268 (b)
0.61
0.18
6.82
0.0800
A0366432 (b)
The western extension of Copperfield remains largely open. An additional 15-kilometre strike length
is interpreted based on strong copper anomalies in lake-bottom sediments, two strong
electromagnetic conductors, and a linear magnetic high. The westward weakening of the copper
footprint is explained by the thicker till cover.
Several of the geological features in the Copperfield Trend suggest it may represent an Archean
analogue to
Sweden's
Paleoproterozoic world-class
Aitik porphyry Cu-Au-Ag-Mo deposit
. The
trend is considered a major copper-gold exploration target based on these similarities (see press
release of
October 16, 2019
).
The Pikwa 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 important gravel highway in the
region, crosses the Property, as do two power lines.
The Property is part of the Strategic Alliance between
Azimut
and
SOQUEM Inc.
("SOQUEM"), a
subsidiary of Ressources Québec. Major new developments of the Alliance, which covers the
James
Bay
region, were disclosed in the Company's press release of
May 15, 2019
. Azimut is the operator
of the Alliance.
This press release was prepared by
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified person
under National Instrument 43-101.
About SOQUEM
SOQUEM, a subsidiary of Ressources Québec, is dedicated to promoting 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 pioneering approach to big data analytics (the
proprietary
AZtechMine
TM
expert system) enhanced by extensive exploration know-how. Azimut
maintains rigorous financial discipline and has 57.4 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec
. The Company's edge against
exploration risk is founded on systematic regional-scale data analysis and multiple concurrently
active projects. This includes two regional strategic alliances with SOQUEM for six (6) gold
properties in the
James Bay
region and three (3) major gold-copper properties in the Nunavik region.
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/October2019/23/c9463.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 23-OCT-19