Azimut Expands its Positioning for Nickel in the James Bay Region
Azimut Expands its Positioning for Nickel in
the James Bay Region
TSXV:AZM
OTCQX:AZMTF
LONGUEUIL, QC
,
July 5, 2022
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to report it has substantially increased its
land holdings for nickel targets at the scale of the Eeyou-Istchee James Bay region in
Quebec
. The
systematic targeting strategy implemented by Azimut is supported by its proprietary
AZtechMine™
technology and other exploration criteria, as well as its in-depth knowledge of the
region (
see press release of
November 30, 2021
).
Azimut believes the
James Bay
region (176,300 km
2
) is underexplored for intrusion-related nickel
deposits. This is corroborated by the significant initial drilling result recently disclosed for the
Wapatik Property
under option to Mont Royal Resources Limited (ASX:MRZ) (
see press release of
June 29, 2022
). The reported interval (
2.68% Ni, 1.30% Cu, 0.09% Co over
3.30 m
in hole WAP22-
03) is one of the best nickel-copper results recorded in the
James Bay
region, based on public data
(SIGEOM).
HIGHLIGHTS
(
see Figure 1
)
Acquisition by map designation of a total of 2,063 claims (1,070 km
2
) in 80 distinct
blocks of claims, including 1,012 recently acquired claims
. The claims were granted by the
Ministry of Energy and Natural Resources of
Quebec
. Collectively, these targets form the
James Bay Nickel Project
(the "JBN Project") wholly owned by Azimut.
Nickel targeting is mostly driven through Azimut's advanced processing of regional-scale
geophysical, geochemical and geological data (
see press release of
November 19, 2015
).
Most of the targets correspond to hectometre- to kilometre-scale mafic to ultramafic intrusions,
likely representing subvolcanic conduits, dykes and sills intruded in volcano-sedimentary
sequences. Most of the acquired targets display little or no past exploration history.
The exploration concept supporting this claim position is based on a specific high-grade nickel
deposit model, best illustrated by the
Eagle's Nest deposit
in the Ring of Fire (
Ontario,
Canada
) and the
Eagle deposit
in
Michigan (USA
).
The JBN Project also presents a significant potential for copper, cobalt and platinum group
elements, which are commonly associated with nickel deposits. All these commodities will be in
high demand in the long term, given the current global energy transition period.
Azimut has implemented efficient in-house exploration protocols to rapidly validate and advance
these targets to the drilling stage.
Quebec
is one of the leading mining jurisdictions in the world. The
James Bay
region also
benefits from high-quality infrastructure, including paved access roads, power lines and airports.
The long-standing relationship between the Cree Nation and the Government of
Quebec
has
been recently strengthened by the Grande Alliance agreement.
Corporate information
: Ms.
Krista Muhr
has resigned as a member of the Company's Board of
directors effective
July 1
. Her contribution is recognized and appreciated by Azimut and the
Company wishes her the best in her future endeavours.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as the Company's Qualified Person under
National Instrument 43-101.
Mathieu Landry
, P.Geo., senior consultant, has also reviewed the
content of this press release.
About Azimut
Azimut is a leading mineral exploration company in
Quebec
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.
The Company uses a pioneering approach to big data analytics (the proprietary
AZtechMine™
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.
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 exploration programs on nickel targets. 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/July2022/05/c7919.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]
CO: Azimut Exploration Inc.
CNW 06:30e 05-JUL-22