Azimut Confirms the Patwon Zone Extends to a Depth of at least 600 metres and Remains Completely Open 3.94 g/t Au over 12.4 m and 2.09 g/t Au over 20.6 m (Hole ELM21-129) 3.31 g/t Au over 21.0 m (Hole ELM21-128) 2.80 g/t Au over
Azimut Confirms the Patwon Zone Extends to
a Depth of at least 600 metres and Remains
Completely Open
3.94 g/t Au over
12.4 m
and 2.09 g/t Au over
20.6 m
(Hole ELM21-129)
3.31 g/t Au over
21.0 m
(Hole ELM21-128)
2.80 g/t Au over
35.05 m
(Hole ELM22-134)
1.74 g/t Au over
56.75 m
(Hole ELM21-127)
LONGUEUIL, QC
,
March 10, 2022
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report the results of six (6) more holes drilled on the Patwon
Gold Zone, part of the ongoing 20,000-metre program to expand Patwon and assess additional
targets on the Company's 100% owned Elmer Property (the "Property") in the
James Bay
region of
Quebec
.
The Company aims to define the Patwon Zone down to at least 800 metres. The results of the
current program will be incorporated into a
maiden mineral resource estimate
supported by a
technical report compliant with National Instrument 43-101 (
see press releases of
October 18
and
November 4, 2021
, and
January 27, 2022
). To date, the Company has drilled twenty-three (23)
holes for 9,516 metres during the program, including eighteen (18) on Patwon (
8,487 m
) and five (5)
on surrounding targets (
1,029 m
).
In addition, Azimut is concurrently defining highly prospective targets near Patwon with an extensive
reverse circulation drilling ("RC") program. To date, 214 RC holes have been drilled through the
glacial sediment cover to collect bedrock samples over a structural corridor containing strong gold
anomalies in till. A diamond drilling phase will follow up on these results.
HIGHLIGHTS
(
see Figures 1 to 7, Tables 1 to 4, Photo 1
)
Hole ELM21-129
3.94 g/t Au over
12.4 m
(from
263.05 m
to
275.45 m
), including
13.85 g/t Au over
2.5 m
2.09 g/t Au over
20.6 m
(from 300.7
m
to 321.3
m
), including
7.50 g/t Au over
4.0 m
Hole ELM21-128
3.31 g/t Au over
21.01 m
(from
211.82 m
to
232.84 m
), including
5.37 g/t Au over
5.83 m
6.63 g/t Au over
4.98 m
Hole ELM22-134
2.80 g/t Au over
35.05 m
(from
536.75 m
to
571.8 m
), including
16.71 g/t Au over
2.9 m
24.5 g/t Au over
0.9 m
Hole ELM21-127
1.74 g/t Au over
56.75 m
(from
189.25 m
to
246 m
), including
12.2 g/t Au over
1.2 m
7.25 g/t Au over
3.5 m
Hole ELM21-126A
0.91 g/t Au over
47.5 m
(from
576.0 m
to
622.5 m
)
1.07 g/t Au over
9.8 m
(from
655.9 m
to
665.7 m
)
One hole, ELM21-125, was drilled at a low angle through the mineralized envelope to provide
additional information about its geometry and continuity (see Figure 3). Core length intervals for
this hole, provided below, are reported as mineralized down-hole lengths; true widths have not
been estimated for this hole.
Hole ELM21-125
1.08 g/t Au over
286.9 m
(from
27.6 m
to
314.15 m
), including
4.43 g/t Au over
40.0 m
(from
274.5 m
to
314.5 m
), including
10.54 g/t Au over
5.9 m
and
8.14 g/t Au over
10.7 m
1.35 g/t Au over
75.0 m
(from
390.7 m
to
465.7 m
), including:
6.54 g/t Au over
7.7 m
The Patwon Zone has been outlined along a
580-metre strike length
and now extends from
450 metres
to 600 metres
, with an average
estimated true width of 35 metres
.
Patwon remains open at depth with a robust and consistent
core zone
with
grade x thickness
("GT") factors higher than 50
based on
true estimated widths
(see Figure 7). At Patwon,
visible gold generally appears to be a reliable predictor for GT factors close to or higher than
50.
For the 18 delineation holes drilled so far during this program, nine (9) display
visible gold
grains
(ELM21-125, -127, -128, -129 and ELM22-132, -134, -136, -142, -143).
The current delineation drilling program is structured on a systematic spacing of 50-metre
centres from the surface down to 500 metres and a systematic spacing of 50-metre by 75-
metre centres down to 800 metres. Patwon may likely be open along strike, and additional
holes will test this.
The Elmer Property comprises 515 claims covering 271.3 km
2
over a 35-kilometre strike length. The
Property is 285 kilometres north of the town of
Matagami
, 60 kilometres east of the village of
Eastmain
, and 5 kilometres west of the paved Billy-Diamond Highway, a major all-season highway.
The region benefits from excellent infrastructure, including significant road access, a hydroelectric
power grid and airports.
Drilling Contract and Analytical Protocols
The drilling contract was awarded to RJLL Drilling Inc. of
Rouyn-Noranda, Quebec
. The core
diameter is NQ. The core samples were sent to ALS Laboratories in
Val d'Or
, Québec, where gold
was analyzed by fire assay, with atomic absorption and gravimetric finish for grades above 3.0 g/t
Au. Samples were also analyzed for a 48-element suite using ICP. Azimut applies industry-standard
QA/QC procedures to its drilling programs. Certified reference materials, blanks and field duplicates
are included in all batches sent for analysis.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's qualified person under
National Instrument 43-101.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and
partnership development. The Company is actively advancing its wholly-owned flagship Elmer Gold
Project in the
James Bay
region to the initial 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's competitive
edge is based on systematic regional-scale data analysis and concurrently active projects. Azimut
maintains rigorous financial discipline and a strong balance sheet, with 81.8 million shares issued and
outstanding.
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 at the Elmer Property. 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.
There are many factors that could cause such differences, particularly volatility and sensitivity to
market metal prices, impact of change 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.
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%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 10-MAR-22