Azimut Cuts 9.52 g/t Au over 7.1 m on the Elmer Property, James Bay Region, Quebec Symbol: AZM.TSX Venture
Azimut Cuts 9.52 g/t Au over 7.1 m on the
Elmer Property, James Bay Region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
July 16, 2019
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) is pleased to report excellent initial results from the 2019 exploration
program on the Company's
wholly-owned Elmer Property
(the "Property"). Channel sampling on
the
Patwon Prospect
confirms the strong exploration potential for a high-grade gold system on the
Property.
The remainder of the 2019 work program will be adjusted according to the pending results of this
first phase.
HIGHLIGHTS
(
see Figures 1 to 4
)
292 channel samples were collected for a total length of 278.65 metres, as well as 172 rock
grab samples. Most analytical results are pending.
Channels in the immediate vicinity of a high-grade grab sample collected in late 2018 (
54.6 g/t
Au
; see press release of
November 20, 2018
) yielded the following results:
22.1 g/t Au over
2.95 m
(channel CH-09; open)
36.3 g/t Au over
2.0 m
(channel CH-10; open)
9.52 g/t Au over 7.1
m
(channel CH-11; open)
Mineralized facies correspond to a centimetric to decametric network of quartz veins with
strongly chloritized and carbonatized wall rocks containing 1% to 10% disseminated pyrite. A
mafic intrusion cut by quartz feldspar porphyry dykes constitute the main host rocks.
The outcropping Patwon Prospect, currently exposed over an area of about 150 metres by 100
metres, is open in most directions. A preliminary field assessment and initial analytical results
point toward a sizeable target. The orientation of the mineralized envelope and true mineralized
widths have not yet been determined.
The Patwon Prospect is part of a newly interpreted 7-kilometre-long high-grade trend that
includes four other prospects: East Zone, Patwon East, Gold Zone and Gabbro Zone (see
Figure 2).
The Elmer Property comprises 247 claims covering 130 km
2
over a 22-kilometre strike length. It is
located 285 kilometres north of
Matagami
, 60 kilometres east of the municipality of
Eastmain
, and
40 kilometres west of the James Bay Road. The James Bay region benefits from quality
infrastructure that includes major access roads, a hydro-power grid and airport infrastructure.
Azimut has identified and ranked 21 underexplored targets on Elmer since acquiring the Property by
map designation in 2018 (see press releases of
September 13, 2018
and
June 13, 2019
).
The current exploration program was made possible through funding from five of
Quebec's
financial
institutions: CDPQ Sodemex Inc., Fonds de solidarité FTQ, SIDEX, Société de développement de la
Baie James
and Capital croissance PME II (see press release of
December 21, 2018
).
This press release was prepared by
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified person
under National Instrument 43-101.
About Azimut
Azimut is a mineral exploration company whose core business is centred on target generation and
partnership development. 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 has 53.3 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec
. The Company's edge against
exploration risk is founded on systematic regional-scale data analysis and multiple concurrently
active projects. This includes two regional strategic alliances with SOQUEM for six (6) gold
properties in the
James Bay
region and three (3) major gold-copper properties in the Nunavik region.
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/July2019/16/c4711.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 16-JUL-19