Azimut and SOQUEM Uncover Extensive Lithium Targets on the Galinée Property, James Bay region, Quebec Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”)
For immediate release
October 10, 2024
TSXV: AZM
OTCQX: AZMTF
Press Release
Azimut and SOQUEM Uncover Extensive Lithium Targets on the
Galinée Property, James Bay region, Quebec
Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”) ( TSXV: AZM)
(OTCQX: AZMTF) is pleased to announce that the 2024 field exploration program has defined extensive
new lithium targets on the Galinée Property (the “Property”) in the Eeyou Istchee James Bay region of
Quebec, Canada.
The targets result from a combination of systematic till sampling and project -scale prospecting , which
highlighted new prospective zones with a cumulative length of approximately 18 kilometres . Boulders
grading up to 5.36% Li2O have been found in poorly outcropping areas in the northeastern part of the
Property, where the glacial sediments ( till) contain significant amounts of spodumene crystals . Another
promising sector, returning up to 2.85% Li₂O in boulders, was identified within a 10-kilometre zone in the
northwestern part. Follow-up activities will prioritize this new target area.
These results further underscore the project’s strong exploration potential within an emerging lithium district.
The spring 2024 drilling program yielded wide intervals of high-grade mineralization in the northernmost part
of the Property, including 1.62% Li2O over 158.0 m, 2.48% Li2O over 72.7 m, and 2.68% Li2O over 54.6 m.
(see press release of June 19, 2024).
Galinée is one of the priorities among the joint venture projects between Azimut and SOQUEM Inc.
(“SOQUEM”). Additional results from the field programs conducted this summer on other Azimut projects
(see press release of September 9, 2024 ) will be reported as they become available. Significant progress
is expected, notably on the Elmer (gold-copper), Wabamisk (gold-antimony), Kukamas (nickel-copper-
PGE), and Pilipas (lithium) projects.
HIGHLIGHTS (see Figures 1 to 5, Photos 1 to 4)
• Systematic till sampling (851 samples) was conducted along lines spaced 1.0 to 1.5 kilometres apart ,
perpendicular to the southwest glacial direction and geological strike, with samples taken at an average
interval of 100 metres along the lines. UV light was used to identify spodumene grains in the sieved
coarse fractions of 5-kilogram samples, with confirmation by portable LIBS (Laser Induced Breakdown
Spectroscopy) analyzer and/or binocular microscope. 253 till samples (29.7%) contain at least 1 crystal,
and up to 30 crystals, of spodumene per sample. This innovative field approach allows large areas to be
rapidly assessed at relatively low cost.
• Follow-up prospecting of the spodumene-bearing sectors led to the discovery of mostly angular to sub-
angular spodumene pegmatite boulders in two areas. Although o utcrops are rare over most of the
Property (less than 5%), the overburden is estimated to be relatively thin, on the order of 10 metres. For
this reason, the presence of boulders coincident with spodumene-bearing till suggests proximal
spodumene pegmatite bodies in the bedrock.
• In addition, t he multi-element geochemical footprint in the fine fraction of the till samples roughly
coincides with previously reported lake sediment geochemistry results for lithium and cesium, which led
to the initial recognition of prospective corridors on the project (see press release of February 23, 2024).
Analytical Protocols
Fifty-four (54) grab rock samples were collected , including 16 from outcrops and 38 from boulders. Note
that grab samples are selective by nature and unlikely to represent average grades . Rock samples were
sent to ALS Laboratories in Montreal (Quebec) for ICP multi-element analysis (laboratory codes: ME-MS61,
ME-MS89L).
The fine fractions of the till samples were sent to Actlabs in Ancaster (Ontario) for ICP ultratrace multi-
element analysis (laboratory code: UT -4). Assay results have been received for 793 samples , with 58
assays still pending. Azimut applies industry-standard QA/QC procedures to its sampling programs.
About the Galinée Property
Galinée (649 claims, 335 km 2) is a 50/50 joint venture project between Azimut and SOQUEM, operated by
Azimut. The 36 -kilometre-long property lies about 50 kilometres north -northwest of the Renard diamond mine
(Stornoway Diamonds (Canada) Inc.) and 60 kilometres south of the Trans -Taiga Road, an all-season regional
highway. The region is widely considered an emerging lithium district. Winsome Resources Ltd recently published
a preliminary economic assessment and mineral resource estimate for the adjacent Adina Property, and other
companies are rapidly advancing prospects on surrounding properties ( see Azimut press releases of June 13
and October 23, 2023; January 9 and February 23, 2024).
Qualified Person
Dr. Jean-Marc Lulin (P.Geo.) prepared this press release as the Company’s qualified person within the meaning
of National Instrument 43-101. Rock Lefrançois (P.Geo.), Vice President of Exploration, also reviewed the content
of this press release.
About SOQUEM
SOQUEM Inc., a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and
development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies.
A proud partner and ambassador for developing the p rovince’s mineral wealth, SOQUEM relies on innovation,
research, and strategic minerals to be well-positioned for the future.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership
development. The Company holds the largest mineral exploration portfolio in Quebec. Its wholly owned
flagship project, the Elmer Gold Project , is at the resource stage ( 311,200 oz Indicated ; 513,900 oz
Inferred*) and has a strong exploration upside. Azimut is also advancing the lithium discovery at Galinée
with SOQUEM. The Company controls strategic land positions in the province for copper -gold, nickel and
lithium.
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system)
enhanced by extensive exploration know -how. The Company’s competitive edge is based on systematic
regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet, with
85.6 million shares issued and outstanding.
Contact and Information
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015
Jonathan Rosset, Vice President Corporate Development
Tel: (604) 202-7531
[email protected] www.azimut-exploration.com
__________________________________________________________________________________
* "Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada ", prepared by Martin Perron,
P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng., of InnovExplo Inc., dated January 4, 2024.
Cautionary note regarding forward-looking statements
This press release contains forward -looking statements, which reflect the Company’s current expectations regarding future events related to the
drilling results from the Galinée Property. To the extent that any statements in this press release contain info rmation that is not historical, the
statements are essentially forward-looking and are often identified by words such as “consider”, “anticipate”, “expect”, “estimate”, “intend”, “project”,
“plan”, “potential”, “suggest” and “believe”. The forward -looking statements involve risks, uncertainties, and other factors that could cause actual
results to differ materially from those expressed or implied by such forward -looking statements. Many factors could cause such differences,
particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision
in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpe cted geological
conditions, adverse mining con ditions, community and non-governmental organization actions, changes in government regulations and policies,
including laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to obtain necessary permits and approvals from
government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only appl y as of the date of this
document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise, other than as required to do so by applicable s ecurities laws. The reader is directed to carefully review the
detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the
Company’s business.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) a ccepts
responsibility for the adequacy or accuracy of this release.