Azimut Drills 14 Holes Showing Wide Mineralized Intervals at the Patwon Gold Zone, Assays Pending Symbol: AZM.TSX Venture
Azimut Drills 14 Holes Showing Wide
Mineralized Intervals at the Patwon Gold Zone,
Assays Pending
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
June 2, 2021
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to provide updated information on the progress of its current
15,000-metre diamond drilling program on the Company's
100% owned Elmer Property
(the "Property") in the
James Bay
region of
Quebec
.
This phase of work, to be completed by the end of June, is designed to expand the Patwon gold
discovery with 10,000 metres of drilling (30 holes) and test 10 high-quality targets in the vicinity of
the discovery with 5,000 metres (30 holes).
HIGHLIGHTS
(
Figures 1 to 4, Tables 1 and 2
)
At Patwon,
14 holes
with pending assay results display
wide mineralized intervals
in drill core
(pyrite with quartz veining and strong alteration) that are visually comparable to previously
disclosed gold-bearing intervals (
see press releases of
November 30, 2020
, and
May 19, 2021
).
Of particular interest,
native gold grains
have been observed in
eight
(
8)
of the 14 holes
(ELM21-073, -86, -092, -093, -094, -097, -100, and -102, shown in
Figure 4
).
Figure 4 is an updated
grade x thickness longitudinal section
built on estimated true widths.
It shows that the Patwon gold zone is robust and remains open at depth and likely laterally.
Azimut is already planning a more extensive drilling program for later this year based on the
strong initial results of the current phase (
press release of
May 19, 2021
).
Update on the program
The Company's current drilling program at Elmer has resulted in 12,099.2 metres drilled to date
(45 holes completed, two in progress):
Patwon Zone: 9,668.6 metres drilled; 29 holes completed, with assays pending for 19 of them.
These delineation holes were drilled on systematic 50-metre or 100-metre centres. No infill
drilling is being conducted at this stage.
Exploration targets: 2,430.6 metres drilled; 16 holes completed with assays pending.
6,813 drill core samples already sent to AGAT Laboratories.
More assay results should be received in the coming weeks.
The Patwon Zone is currently defined over a strike length of 500 metres, a minimum depth of 400
metres and a true width averaging about 36 metres, based on the results of 40 previously disclosed
drill holes. True widths can reach up to 80 metres.
Azimut considers the exploration potential in the vicinity of Patwon to be excellent. Exploration
targets were selected based on a combination of the following parameters: prospecting data,
induced polarization anomalies, gold clusters in glacial sediments, and interpreted shear zones.
Additional Data
The following data and documents are available on Azimut's website:
Elmer Drilling Data
(locations and composites)
Virtual Core Shack
– PDAC,
March 2021
Corporate presentation
: Expanding the Elmer Discovery and 2021 Exploration Outlook
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 James Bay Road, a major all-season highway. The
region benefits from quality infrastructure, including significant road access, a hydroelectric power
grid and airports.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's Qualified Person under
National Instrument 43-101. The program is managed by François Bissonnette, P.Geo., Operations
Manager and
Simon Houle
, P.Geo., Chief Geologist. Both have reviewed the content of this press
release.
About Azimut
Azimut is a mineral exploration company whose core business centres on target generation and
partnership development. The Company is actively advancing the Patwon gold discovery on its
100%-owned flagship Elmer Property 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 maintains
rigorous financial discipline and has 69.2 million shares outstanding. Azimut's competitive edge
against exploration risk is founded on systematic regional-scale data analysis and multiple
concurrently active projects.
www.azimut-exploration.com
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.
Many factors could cause such differences, particularly volatility and sensitivity to market metal
prices, the impact of changes 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/June2021/02/c6088.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 02-JUN-21