Azimut Expands the Elmer Gold Discovery,
Azimut Expands the Elmer Gold Discovery,
James Bay Region, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Sept. 15, 2020
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report it has received the assay results for another
seventeen (17) holes totalling 3,959 metres from its ongoing diamond drilling program on the
100%
owned Elmer Property
(the "Property") in the
James Bay
region of
Quebec
. The results of the first
fourteen (14) holes were disclosed on July 27, 2020, and the assays for twenty-three (23) other
holes are pending. Drill results to date confirm a significant and consistent gold-bearing mineralized
system, including a high-grade component in most holes.
Salient Facts
Assay results have been received for 38 holes since the maiden drilling program began in
November 2019
. Thirty-five (35) holes have tested the Patwon Zone, with 29 returning
significant mineralization (
press releases of
January 14
and
July 27
, 2020
, and the highlights in
this release).
The gold mineralization at Patwon has been traced in drill holes over a strike of at least 400
metres and from surface to a vertical depth of approximately 250 metres (about
300 m
downdip). Patwon remains open along strike and at depth.
The main objective has been to establish the strike and depth continuity of the Patwon discovery
using systematic drilling on 50-metre centres.
Mineralization dips generally 70 degrees to the north. True widths reach up to 80 metres but
vary considerably.
Azimut intends to do significantly more drilling to expand the Patwon discovery further and to
continue testing excellent nearby targets. Intensive prospecting and till sampling programs are
underway to advance target definition within the 12 km by 3 km corridor hosting the Patwon
discovery.
During the current program, 54 holes have been drilled on the Property for a total of 10,392
metres (holes ELM20-008 to -061). Since the maiden program in
November 2019
, Azimut has
drilled 61 holes for a total of 11,388 metres (
see Figures 1 to 10 and Table 1
).
Drilling Highlights
Hole ELM20-012
0.97 g/t Au over
20.80 m
(from
72.0 m
to
92.8 m
) including:
1.23 g/t Au over
15.4 m
(from
77.4 m
to
92.0 m
)
including
5.82 g/t Au over
1.45 m
(from
91.3.0 m
to
92.8 m
)
Hole ELM20-020
3.72 g/t Au over
8.70 m
(from
154.8 m
to
165.5 m
) including:
16.8 g/t Au over
1.7 m
(from
154.8 m
to
156.5 m
)
Hole ELM20-023
0.52 g/t Au over
31.45 m
(from
158.0 m
to
189.45 m
) including:
3.73 g/t Au over
2.80 m
(from
158.0 m
to
160.0 m
)
Hole ELM20-029
1.50 g/t Au over
30.50 m
(from
96.0 m
to
126.5 m
) including:
8.59 g/t Au over
2.10 m
(from
103.9 m
to
106.0 m
)
Hole ELM20-030
0.61 g/t Au over
46.20 m
(from
150.0 m
to
196.2 m
) including:
1.03 g/t Au over
19.55 m
(from
150.0 m
to
169.55 m
)
10.65 g/t Au over
0.5 m
(from
195.7 m
to
196.2 m
)
Hole ELM20-031
2.40 g/t Au over
33.60 m
(from
175.0 m
to
208.6 m
) including:
9.63 g/t Au over
6.60 m
(from
176.0 m
to
182.6 m
)
including
56.10 g/t Au over
0.60 m
(from
180.0 m
to
180.6 m
)
Hole ELM20-032
0.94 g/t Au over
30.35 m
(from
191.65 m
to
222.0 m
) including:
1.89 g/t Au over
13.50 m
(from
208.5 m
to
222.0 m
)
including
2.83 g/t Au over
6.35 m
(from
213.0 m
to
219.35 m
)
Hole ELM20-033
0.75 g/t Au over
42.25 m
(from
175.35 m
to
217.8 m
) including:
1.30 g/t Au over
15.7 m
(from
202.1 m
to
217.8 m
)
including
12.55 g/t Au over
0.95 m
(from
216.85 m
to
217.8 m
)
Hole ELM20-038
4.55 g/t Au over
8.00 m
(from
186.0 m
to
194.0 m
) including:
10.12 g/t Au over
2.95 m
(from
189.55 m
to
192.5 m
)
Hole ELM20-039
0.49 g/t Au over
31.50 m
(from
219.5 m
to
251.0 m
) including:
1.20 g/t Au over
8.50 m
(from
242.5 m
to
251.5 m
)
Hole ELM20-040
3.93 g/t Au over
4.55 m
(from
239.0 m
to
243.55 m
) including:
8.04 g/t Au over
2.05 m
(from
241.5 m
to
243.55 m
)
Hole ELM20-051A
3.85 g/t Au over
22.35 m
(from
198.15 m
to
220.5 m
) including:
19.34 g/t Au over
3.05 m
(from
199.15 m
to
202.2 m
)
10.30 g/t Au over
1.00 m
(from
219.5 m
to
220.5 m
)
Azimut prioritized the assaying of samples from hole ELM20-051A to accelerate the assessment of
the vertical continuity. Two other holes were drilled to test the 250-metre depth (ELM20-52 and
ELM20-56); assay results are pending.
_________________________
The Patwon discovery is characterized as follows:
Gold mineralization is mainly related to two quartz-vein networks: a) Shear veins striking NE-SW
subparallel to the schistosity and dipping 65
o
to 80
o
to the north, and b) Subvertical extension
(Riedel-type) veins striking NW-SE.
Pyrite is the dominant sulphide and occurs as fine to coarse disseminations, crosscutting
centimetric stringers, or semi-massive to massive lenses. Disseminated pyrite and pyrite
stringers are associated with quartz veining and their wall rocks. No arsenic-bearing minerals
have been observed.
Native gold grains are frequent, generally associated with quartz veins and various forms of
pyrite mineralization. The gold grains are isolated or form clusters.
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.
Mineralization appears to be mainly related to a felsic intrusion and felsic volcanics, including
ash and clastic tuffs, close to a lithological contact with a thick gabbro unit at the footwall.
The mineralized envelope, with a NE-SW orientation, dips 70
o
to the north on average and is
subparallel to the schistosity.
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.
Patwon is considered an orogenic gold-bearing system, a type classically associated with significant
depths (kilometre-scale) and extensive deformation corridors in greenstone belts. Azimut's
management believes there is a good possibility that the Company will extend the known Patwon
Zone and find other comparable zones along strike.
The Elmer Property comprises 515 claims covering 271.3 km
2
over a 35-kilometre strike length. The
Property 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 Property 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.
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 included in all batches
of drill core sent 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 69.1 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
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/September2020/15/c6075.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 06:30e 15-SEP-20