Azimut Continues its Patwon Delineation Program and Starts Property-Wide Exploration Drilling on the Elmer Property
Azimut Continues its Patwon Delineation
Program and Starts Property-Wide Exploration
Drilling on the Elmer Property
TSXV: AZM
OTCQX: AZMTF
LONGUEUIL, QC
,
July 28, 2022
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to report that a significant drilling program
is actively progressing on the Company's 100% owned
Elmer Property
(the "Property") in the
Eeyou Istchee James Bay region of
Quebec
:
Three (3) drill rigs are dedicated to the delineation program of the Patwon Gold Zone; and
One (1) drill rig has started a property-wide exploration program to test several quality targets
on strike or subparallel to Patwon.
Drilling to date has been focused at Patwon and has confirmed a robust and continuous mineralized
zone from surface down to a minimum vertical depth of 800 metres, over a strike length of up to 600
metres and an estimated true thickness of 35 metres on average.
Patwon remains open at depth
and possibly along strike.
Delineation program of the Patwon Gold Zone
(
see Figures 1 to 3
)
As of today, 46 holes for 28,341 metres (43 completed, 3 in progress) have been drilled since
the start of the current delineation phase initiated in
October 2021
, including forty (41) on
Patwon (
27,312 m
) and five (5) on other targets (
1,029 m
).
The results for the first twenty-two
(22) holes of this phase have already been reported (
press releases of
March 10
,
April 27
, and
May 30, 2022
)
. Pending results will be reported once assay results are received and
interpreted.
Six (6) holes (3,500 m) remain to be drilled in this program, bringing this current phase to a total
of about 31,500 metres.
Complete
results of this phase
will be incorporated into a
maiden
mineral resource estimate
supported by a technical report compliant with National Instrument
43-101
.
The resource estimate will be initiated when the grid drilling pattern has been
completed down to the 800-metre level. All indications are that the Patwon Zone remains open
at depth.
The Patwon Gold Zone has to date been delineated with 112 holes totalling 45,810 metres
since the original announcement of the discovery (
press release of
January 14, 2020
).
A
complete updated drilling database will be provided shortly.
Property-wide exploration drilling phase
(
see Figure 4
)
Azimut has started a minimum 5,000-metre property-wide exploration drilling program targeting
twelve (12) sectors located along strike and subparallel to Patwon. The Property covers a 35-
kilometre-long highly prospective greenstone belt that remains largely underexplored.
These targets have been defined following the systematic collection of data including:
507 reverse circulation ("RC") holes for 6,681 metres of drilling;
Induced polarization and high resolution heliborne magnetic surveys;
Prospecting and till sampling; and
Complete geological and structural reinterpretation of the Property.
Drilling at three (3) of these targets will follow-up from previously disclosed results over multiple
kilometre-long sectors:
Gabbro Prospect
,
881 Zone
and
Wolf Prospect
(
press releases of
November 11, 2021
and
April 6, 2022
).
Most target areas have been ranked through the advanced geochemical processing of the
bedrock database acquired from prospecting, core drilling and RC drilling phases. A distinctive
silver-bismuth-tellurium-tungsten "Patwon-style" footprint is recognized, well correlated with the
gold content. A summer prospecting program will continue assessing new attractive areas.
The Elmer Property comprises 515 claims (271.3 km
2
) over a 35-kilometre strike length. The
Property lies 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 Contracts and Analytical Protocols
RJLL Drilling Inc. of
Rouyn-Noranda, Quebec
, is the contractor for the delineation phase at Patwon.
The core diameter is NQ. Chibougamau Drilling Ltd of
Chibougamau, Quebec
, is carrying out the
exploration drilling operations with a core diameter of BTW.
Samples are sent to ALS Laboratories in
Val d'Or
, Québec, where gold is analyzed by fire assay,
with atomic absorption and gravimetric finishes for grades above 3.0 g/t Au. Samples are also
analyzed for a 48-element suite using ICP. Azimut applies industry-standard QA/QC procedures to
its drilling programs. All batches sent for analysis include certified reference materials, blanks, and
field duplicates.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's Qualified Person under
National Instrument 43-101.
Brigitte Dejou
, P.Eng., Project Manager, and François Bissonnette,
P.Geo. Operations Manager, have also reviewed the content of this press release.
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 to the initial resource stage in the
James Bay
region.
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 82.2 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.
View original content:
http://www.newswire.ca/en/releases/archive/July2022/28/c5037.html
%SEDAR: 00003284E
For further information:
Contact and Information, Jean-Marc Lulin, President and CEO, Tel.: (450)
646-3015 - Fax: (450) 646-3045, Jonathan Rosset, Vice President Corporate Development, Tel:
(604) 202-7531, [email protected], www.azimut-exploration.com
CO: Azimut Exploration Inc.
CNW 06:30e 28-JUL-22