Azimut Delivers More Wide Gold Intercepts at Patwon Gold Zone Reaches Minimum Depth of 700 metres
Azimut Delivers More Wide Gold Intercepts at
Patwon
Gold Zone Reaches Minimum Depth of 700 metres
LONGUEUIL, QC
,
April 27, 2022
/CNW/ -
Azimut Exploration Inc.
("Azimut" or the "Company")
(TSXV: AZM) (OTCQX: AZMTF) is pleased to report new results from nine (9) holes drilled on the
Patwon Gold Zone
on the Company's 100% owned Elmer Property (the "Property") in the
James
Bay
region of
Quebec
.
The current 20,000-metre delineation program aims to define this zone down to at least 800 metres.
The results will be incorporated into a
maiden mineral resource estimate
supported by a technical
report compliant with National Instrument 43-101.
The Company has now drilled thirty-two (32) holes for 15,487 metres during the ongoing program,
including twenty-seven (27) on Patwon (
14,458 m
) and five (5) on surrounding targets (
1,029 m
).
The results for the first six (6) holes from this campaign were reported in the press release of
March
10, 2022
.
Much of the area surrounding Patwon is covered by muskeg. To map the unexposed bedrock and
identify new gold-bearing zones, the Company recently completed an extensive reverse circulation
drilling program (
507 holes for
6,681 m
) to collect bedrock samples along a
9-kilometre-long
highly prospective area
(
see press release of
April 6, 2022
). This phase of work will prepare for a
summer core drilling program to test new exploration targets.
HIGHLIGHTS
(
see Figures 1 to 8, Photos 1 to 6, Tables 1 to 4
)
Today's results further expand the Patwon Zone, which remains robust and consistent. The
zone has been outlined along a
strike length of
580 metres
and to a
depth of at least 700
metres
, with an average
estimated true width of 35 metres
. It remains open at depth and
possibly along strike.
The
deepest hole drilled to date
(ELM22-151A ending at
882 m
) displays several wide
mineralized intercepts from
732 m
to
837 m
(
105 m
along the hole), including several places
with
visible gold
grains
(
see Photos 1 to 6
). This preliminary observation supports the
expectation of a significantly deeper mineralized body. Assay results are pending for this hole.
Hole ELM22-138
3.05 g/t Au over
23.0 m
(from
193.5 m
to
216.5 m
), including
4.27 g/t Au over
5.0 m
5.44 g/t Au over
7.0 m
Hole ELM22-132
2.20 g/t Au over
30.05 m
(from
459.95 m
to
490.0 m
), including
4.06 g/t Au over
13.6 m
6.59 g/t Au over
5.05 m
Hole ELM22-136
1.22 g/t Au over
72.4 m
(from
589.4 m
to
661.8 m
), including
1.84 g/t Au over
23.1 m
3.78 g/t Au over
8.1 m
Hole ELM22-137
1.42 g/t Au over
14.9 m
(from
150.35 m
to
165.25 m
)
3.37 g/t Au over
2.25 m
(from
187.6 m
to
189.85 m
)
Hole ELM22-143
1.75 g/t Au over
8.2 m
(from
303.5 m
to
311.7 m
)
1.63 g/t Au over
28.65 m
(from
335.25 m
to
363.9 m
), including
6.06 g/t Au over
2.3 m
8.40 g/t Au over
2.05 m
Hole ELM22-142
4.32 g/t Au over
2.15 m
(from
460.35 m
to
462.5 m
)
1.55 g/t Au over
33.25 m
(from
477.75 m
to
511.0 m
), including
3.92 g/t Au over
5.95 m
3.49 g/t Au over
3.25 m
Patwon's
core zone
is characterized by
grade x thickness
("GT") factors higher than 50
based on
estimated true widths
(
see Figures 7 and 8
). At Patwon, visible gold in drill core is
generally a reliable predictor for GT factors close to or higher than 50.
Of the 27 delineation holes drilled so far during the current program, thirteen (13) display
visible
gold grains
(ELM21-125, -127, -128, -129 and ELM22-132, -134, -136, -142, -143, -146A, -
148, -151A, and-153).
The delineation drilling program is structured on a systematic spacing of 50-metre centres from
surface to a depth of 500 metres, and 50-metre by 75-metre centres down to 800 metres.
Patwon is thought to be open along strike, and additional holes will test this.
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 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 finishes 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. 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.
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 81.9 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/April2022/27/c1798.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 27-APR-22