Azimut and SOQUEM Resume Exploration on the Munischiwan Property (Au, Ag, Cu), James
Azimut and SOQUEM Resume Exploration on
the Munischiwan Property (Au, Ag, Cu), James
Bay Region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
June 27, 2019
/CNW Telbec/ -
Azimut
Exploration Inc.
("Azimut" or the
"Company") (
TSXV: AZM
) is pleased to announce it has started the 2019 exploration program on
the
Munischiwan Property
(the "Property") in the
James Bay
region of
Quebec
(
see Figure 1
). This
phase of work mainly consists of detailed surface sampling on the
InSight Discovery
to prepare for
the first diamond drilling program later this year.
The Property is jointly owned with
SOQUEM Inc.
("SOQUEM"), under a Strategic Alliance covering
the
James Bay
region. Major new developments of the alliance were disclosed in the Company's
press release of
May 15, 2019
.
The
InSight Discovery
is currently defined as a 600-metre by 150-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
. Grab samples are selective by nature and unlikely to represent average grades.
Mineralization is mostly composed of disseminated chalcopyrite, quartz veins and quartz veinlets
hosted in foliated metasediments with strong biotite alteration (see press releases of
October 25,
2018
and
December 5, 2018
) (
see Figure 2
).
The results of an induced polarization ("IP") survey recently completed over this area (see press
release of
April 30, 2019
) indicate 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 trend at least 3 kilometres
long by 1 kilometre wide.
Other prospects discovered during the 2018 prospecting program, including the
Soga Prospect
(
up
to
2.53% Cu, 9.0 g/t Ag
in grab samples) hosted in mafic intrusives, will be subject to additional
work.
The Property (167 claims, 87.5 km
2
) 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. Azimut is the operator of the current program.
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, 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 (the
AZtechMine
TM
expert system) enhanced by extensive exploration know-how. Azimut
maintains rigorous financial discipline and has 53.3 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec
. Azimut's edge against exploration
risk is founded on systematic regional data analysis and multiple concurrently active projects.
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/June2019/27/c2981.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 27-JUN-19