Azimut Discloses Drilling Results from Gold Discovery on the Elmer Property, James Bay
Azimut Discloses Drilling Results from Gold
Discovery on the Elmer Property, James Bay
Region, Quebec
Symbol: AZM.TSX Venture
2.77 g/t Au over
90.20 m
including 12.28 g/t Au over
14.2 m
2.61 g/t Au over
72.15 m
including 29.24 g/t Au over
4.95 m
1.14 g/t Au over
103.15 m
including 4.15 g/t over
12.0 m
3.66 g/t Au over
22.75 m
including 7.21 g/t Au over
10.65 m
LONGUEUIL, QC
,
July 27, 2020
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report the assay results of fourteen (14) holes totalling
2,790 metres from its ongoing 10,000-metre diamond drilling program on the
100% owned Elmer
Property
(the "Property") in the
James Bay
region of
Quebec
. To date, 39 holes have been drilled
for 7,656 metres, in addition to the seven (7) holes (996 m) of the maiden drilling program in
November 2019
(see press releases of
January 14
and
June 29, 2020
). Assay results are pending
for 25 holes (
4,866 m
).
The information obtained from the current phase of work will be used to prepare an aggressive
follow-up drilling program in the coming months.
The results disclosed in this press release:
Support the discovery of a substantial gold-bearing system at Patwon, with multiple
intersections along holes, including frequent high-grade intervals; and
Demonstrate a strike extent of at least 350 metres and a vertical extent of 200 metres. True
widths vary considerably but could reach up to 80 metres. The Patwon gold zone, which starts
from surface, remains open along strike and at depth. Significant additional drilling will be
required to define the full extent, shape and grade of the mineralized body.
The Patwon Prospect is part of a NE-SW high-potential corridor at least 7 kilometres long in the
central portion of the Property. Using the Patwon footprint, data processing is underway to further
define comparable targets within this corridor. The Elmer Property covers 35 kilometres of a highly
prospective underexplored Archean greenstone belt. The Wapatik Property, 100% owned by Azimut
and located further east along the same geological trend, provides an additional 24.4-kilometre-long
prospective strike.
HIGHLIGHTS
(
see
Table 1
,
Photos 1 to 8
,
Figures 1 to 9
)
Hole ELM20-008
0.81 g/t Au over 58.8 m
(from 77.2 m to 136.0 m) including:
1.40 g/t Au over 14.5 m
(from 77.2 m to 91.7 m)
1.04 g/t Au over 25.0 m
(from 111.0 m to 136.0 m)
Hole ELM20-009
1.14 g/t Au over 103.1 m
(from 121.15 m to 224.3 m) including:
4.15 g/t Au over 12.0 m
(from 136.5 m to 148.5 m)
8.36 g/t Au over 1.5 m
(from 159.4 m to 160.9 m)
Hole ELM20-010
0.71 g/t Au over 78.0 m
(from 78.0 m to 156.0 m)
Hole ELM20-011
3.66 g/t Au over 22.75 m
(from 45.75 m to 68.5 m) including:
7.21 g/t Au over 10.65 m
(from 50.35 m to 61.0 m)
Hole ELM20-013
1.65 g/t Au over 18.55 m
(from 56.45 m to 75.0 m)
Hole ELM20-026
2.61 g/t Au over 72.15 m
(from 122.2 m to 194.35 m) including:
3.59 g/t Au over 51.85 m
(from 142.5 m to 194.35 m)
including
29.24 g/t Au over 4.95 m
(from 154.75 m to 159.7 m)
Hole ELM20-028
1.44 g/t Au over 58.2 m
(from 156.3 m to 214.5 m) including:
3.60 g/t Au over 13.45 m
(from 156.3 m to 169.75 m)
including
6.0 g/t Au over 7.15 m
(from 156.3 m to 163.45 m)
1.46 g/t Au over 15.50 m
(from 199.0 m to 214.5 m)
Hole ELM20-034
2.77 g/t Au over 90.2 m
(from 151.3.0 m to 241.5 m) including:
12.28 g/t Au over 14.2 m
(from 151.3 m to 165.5 m)
including
23.26 g/t Au over 5.85 m
(from 151.3 m to 157.15 m)
5.35 g/t Au over 2.9 m
(from 202.6 m to 205.5 m)
3.95 g/t Au over 9.95 m
(from 221.55 m to 231.5 m)
Hole ELM20-35
1.24 g/t Au over 34.75 m
(from 127.25 m to 162.0 m) including:
6.39 g/t Au over 4.0 m
(from 152.0 m to 156.0 m)
Hole ELM20-36
2.46 g/t Au over 5.10 m
(from 206.9 m to 212.0 m)
Azimut prioritized the assaying of samples from holes ELM20-026, -028, -034, -35, and -36 to
accelerate its assessment of the vertical and strike continuity of the Patwon discovery.
_________________________
The current core-oriented drilling program aims to expand the Patwon Discovery on strike and at
depth, and to assess new targets on strike with or subparallel to Patwon, most supported by quality
induced polarization ("IP") anomalies (see press releases of
March 18
and
May 26, 2020
).
Thirty (30) holes (6,420 m) have been drilled thus far on the Patwon Prospect (the ELM-1 target),
principally along a 600-metre length using 50-metre-spaced drilling sections, including seven (7)
holes to test the continuity of the gold-bearing system to a depth of 200 metres.
Nine (9) holes (
1,236 m
) have been drilled on four other IP targets: ELM-2 (3 holes), ELM–3 (1
hole), ELM-4 (4 holes) and ELM-5 (1 hole).
Results are still pending for about 3,595 samples from twenty-five (25) holes. This includes 2,400
samples that have yet to be sent for assays from eighteen (18) holes still undergoing core logging
and sampling.
The results disclosed in this press release are from thirteen (13) holes drilled on the Patwon
Prospect (ELM20-008, –009, -010, -011, -013, -014, -015, -017, -026, -028, -034, -035 and -036)
and one (1) hole on the ELM-3 target (ELM20-016).
Holes ELM20-008, -026
and
-028
tested the vertical extent of previously reported hole ELM19-007
(1.93 g/t Au over
82.0 m
incl. 3.46 g/t Au over
44.1 m
), at roughly 40-metre intervals along the same
section. The results indicate good vertical continuity of the mineralized zone, which is mostly hosted
by felsic volcanics and a felsic intrusion near its contact with a gabbro unit. The mineralized
envelope, up to 70 metres wide, recognized down to 190 metres, appears roughly subparallel to the
NE-SW schistosity, with a dip of 70
o
to the north (
Figure 5
).
Holes ELM20-011, -013
,
-034, -035
and
036
were drilled laterally off the section described above
and demonstrate lateral continuity of the mineralization over a 300-metre strike length (
Figures 6 and 7
). Hole -034 confirmed the vertical extent of the gold-bearing system down to 200
metres. Pending results will likely extend the mineralized system at least 50 metres further east,
based on visual observations of core from holes
ELM20-40
and
-41
(quartz veining, pyritic stringers,
native gold grains).
Holes ELM20-009
and
-010
tested the vertical extent of two previously reported drilling sections of
three (3) holes each (ELM19-001, -002, -003 and ELM19-004, -005 and -006). These sections were
designed to intersect a prominent NW-SE extensional vein system recognized at surface. Both holes
confirm the vertical continuity of mineralization within a wide mineralized envelope (
Figures 8 and 9
).
Holes ELM20-014, -015
and
017
tested IP anomalies to the SW of the Patwon Prospect. These
holes, which mostly cut a gabbro unit, did not return significant mineralization. It is now thought that
the mineralized system lies immediately north of these holes.
Hole ELM20-016
, drilled on target
ELM-3, did not return significant mineralization.
Technical advancement
The information acquired during this program will help further expand the Patwon discovery and
define new targets along strike.
Gold mineralization is related to several sets of quartz veins/veinlets and their wall rocks, as
well as metre-scale hydrothermal breccias, pyrite stringers, and massive to semi-massive pyrite
lenses. Mineralization appears to be mainly related to a felsic intrusion and felsic volcanics,
including ash and clastic tuffs, close to their lithological contacts with a thick gabbro unit.
Three sets of quartz veins contain gold, two of which corroborate surface observations:
Subvertical extensional veins striking NW-SE;
Shear veins striking NE-SW, subparallel to the schistosity and dipping 65
o
to 80
o
to the
north; and
Subhorizontal veins, thus far observed in drill core only.
Variable amounts of pyrite are present as fine- to coarse-grained disseminations, as
crosscutting centimetric stringers, or as semi-massive to massive pyrite lenses (possible
replacement or exhalative horizons). Disseminated pyrite and pyrite stringers are associated
with quartz veining and their wall rocks. Pyritic lenses appear to be associated with felsic
volcanics and concordant with schistosity. Other sulphides include trace amounts of chalcopyrite
and galena. No arsenic-bearing minerals have been observed.
Native gold grains are frequent, generally associated with quartz veins and various forms of
pyrite mineralization. The grains are isolated or form clusters (
Photos 1 to 8
).
Gold-bearing facies are accompanied by pervasive silica, chlorite, sericite and carbonate
alteration, and by tourmaline seams in quartz veins or tourmaline crystals associated with
coarse pyrite and pyrite stringers.
Preliminary geometry and mineralization model:
Mineralization has been recognized over a
350-metre length
(open along strike to the NE
and SW). Widths appear highly variable but may reach up to
80 metres
. Average width has
not yet been determined. Mineralization is known down to
200 metres
and is open at
depth.
A mineralized envelope, with a NE-SW orientation, dips 70
o
to the north, on average, and is
subparallel to the schistosity.
New observations suggest a primary volcanogenic component related to felsic volcanics,
with a structural overprint. The structural component appears to be a dextral NE-SW shear
zone that generated two main vein sets: NE-SW shear veins and NW-SE extensional veins
(Riedel type). Both vein types commonly display sulphide-rich wall rocks.
The intensity of quartz veining in the felsic intrusion and felsic volcanics may be partly
controlled by the rheologic contrast with the surrounding mafic host rocks.
The Elmer Property comprises 515 claims covering 271.3 km
2
over a 35-kilometre strike length. The
project is located 285 kilometres north of
Matagami
, 60 kilometres east of the village of
Eastmain
,
and 5 kilometres west of the paved James Bay Road, a major all-season highway. The region
benefits from quality infrastructure, including significant road access, a hydroelectric power grid and
airports. The project was staked based on the results of the Company's predictive modelling for gold
in the
James Bay
region using its proprietary
AZtechMine
TM
expert system.
Drilling contract and analytical protocol
The drilling contract was awarded to Chibougamau Drilling Ltd of
Chibougamau, Quebec
. The hole
diameter is BTW. The phase of drilling discussed in this press release (39 holes,
7,656 m
) took
place from
May 20 to July 11, 2020
. The remainder of the 10,000-metre program is scheduled to be
completed in August.
Drill core samples were sent to ALS Minerals in
Val-d'Or, Quebec
. 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 applied industry-standard QA/QC procedures to
the program. Certified reference materials, blanks and field duplicates were inserted in all drill core
shipments to the laboratory.
This press release was prepared by Dr.
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified
person under National Instrument 43-101. The field program is under the direction of François
Bissonnette, P.Geo., Operations Manager, and François Gagnon, P.Geo., Project Manager.
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 65.7 million shares outstanding. Azimut's competitive
edge against exploration risk is founded on systematic regional-scale data analysis and multiple
concurrently active projects.
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/July2020/27/c9434.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 07:00e 27-JUL-20