Azimut Announces Major Nickel Position in the James Bay Region Symbol: AZM.TSX Venture
Azimut Announces Major Nickel Position in the
James Bay Region
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Nov. 30, 2021
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report it has recently acquired a
new portfolio of
attractive nickel targets
in the
James Bay
region of
Quebec
. These targets, acquired by map
designation, also present a significant potential for copper, cobalt and platinum group elements,
which are commonly associated with nickel deposits. All these commodities will be in high demand in
the long term, given the current global energy transition period.
Azimut's highest priority remains the advancement of its flagship project, the wholly owned Elmer
gold property. However, the nickel position announced today represents a material growth
opportunity for the Company, supported by its targeting capabilities and in-depth knowledge of the
region.
HIGHLIGHTS
Acquisition of 57 well-defined targets totalling 1,051 claims (551 km
2
) in the
James Bay
region
(
see Figure 1
). The claims were granted by the Ministry of Energy and Natural
Resources of
Quebec
. Collectively, these targets form the
James Bay Nickel project
(the
"JBN project").
The targets were selected through Azimut's advanced processing of regional-scale geophysical,
geochemical and geological data.
Most of the targets correspond to kilometre-scale mafic to ultramafic intrusions, likely
representing subvolcanic conduits, dykes, and sills in volcano-sedimentary sequences. Azimut
considers the
James Bay
region to be underexplored for this discrete but potentially highly
valuable target type. Most of the acquired targets display very little or no past exploration
history.
The exploration concept supporting this claim position is based on a specific high-grade nickel
deposit model, best illustrated by the Eagle's Nest deposit belonging to Noront Resources Ltd.
in the Ring of Fire (
Ontario
) and the Eagle deposit of Lundin Mining Corporation in
Michigan
(USA
).
Azimut has implemented efficient in-house exploration protocols to rapidly validate and advance
these targets to the drilling stage.
Quebec
is one of the leading mining jurisdictions in the world. The
James Bay
region also
benefits from high-quality infrastructure, including paved access roads, power lines and airports.
The long-standing relationship between the Cree Nation and the Government of
Quebec
has
been recently strengthened by the Grande Alliance agreement.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as the Company's Qualified Person under
National Instrument 43-101.
Mathieu Landry
, P.Geo., VP Technology and Business Development,
has also reviewed the content of this press release.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for quality target generation
and partnership development. The Company is actively advancing its
wholly owned flagship Elmer
project
in the
James Bay
region to the resource stage.
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 a strong balance sheet, and has 81.7 million shares issued and
outstanding. Azimut's competitive edge against exploration risk is based on systematic regional-
scale data analysis and concurrently active projects.
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 exploration programs on nickel targets. To the
extent that any statements in this press release contain information 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, unexpected geological conditions, adverse mining conditions, 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 apply 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
securities 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) accepts responsibility for the adequacy or accuracy of this
release
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/November2021/30/c9648.html
%SEDAR: 00003284E
For further information:
Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450)
646-3045, [email protected], www.azimut-exploration.com
CO: Azimut Exploration Inc.
CNW 06:30e 30-NOV-21