Azimut identifies 10 priority drilling targets at Elmer Symbol: AZM.TSX Venture Strong exploration upside along strike and parallel to the Patwon Gold Discovery
Azimut identifies 10 priority drilling targets at
Elmer
Symbol: AZM.TSX Venture
Strong exploration upside along strike and parallel to the Patwon Gold Discovery
LONGUEUIL, QC
,
March 18, 2021
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to report the results of a 105 line-kilometre induced
polarization ("IP") geophysical survey over an 8-kilometre by 3-kilometre priority exploration corridor
surrounding the Patwon discovery. The Patwon Zone is located on the Company's
wholly-owned
Elmer Property
(the "Property") in the Eeyou Istchee James Bay region of
Quebec
(
see Figures 1 to 6
).
These new IP results, combined with recently reported prospecting and till results, confirm a
strong exploration upside both along strike and parallel to the Patwon gold discovery.
At least 30 holes (5,000 metres) will be drilled on these new target areas by early June.
In addition, another 30 holes (10,000 metres) are currently delineating the strike and depth
extensions of the Patwon discovery (see press release of
January 27, 2021
). To date, Azimut has
completed 11 of these holes for a total of 2,801 metres. Patwon is currently defined over a strike
length of 500 metres, a depth of 250 metres and a true width of up to 80 metres. The zone remains
open in all directions.
Highlights (
see Figures 4 to 6
):
IP program completed, with 105 kilometres of surveyed lines.
Ten (10) priority targets, with a combined strike length of over 11.8 kilometres.
Target areas often display an excellent spatial correlation between:
High-grade gold prospects
;
IP chargeability anomalies
;
Well-defined gold-bearing clusters in till
(press release of
January 17, 2021
); and
Extensive shear zones
.
A new property-scale geological and structural interpretation highlighting other felsic intrusions
that may be comparable to Patwon's gold-bearing intrusion.
This new IP survey expands upon the initial 52-kilometre survey of 2020, which was designed to
establish the footprint of the Patwon discovery and its immediate surroundings (see press release of
March 18, 2020
). The correlation between the IP anomalies outlined at Patwon and the gold results
obtained by drilling clearly supports IP as an exploration tool to define additional targets combined
with other methods.
The Elmer Property comprises 515 claims covering 271.3 km
2
over a 35-kilometre strike length. The
Property is 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 that includes reliable road access, a hydroelectric power grid and airports.
About the Induced Polarization Survey
IP surveying is a geophysical method that sends a current into the ground through electrodes and
then measures the voltage response. The readings indicate the chargeability of the metallic minerals
and the resistivity of the rock. A greater concentration of chargeable material will typically produce a
stronger response.
The method is particularly well-suited for investigating the extent of disseminated-style mineralization
(especially minerals such as pyrite) in resistive environments. For this reason, it is a frequently used
exploration technique for gold.
Geosig Inc. of
Quebec City
(
Quebec
) conducted the geophysical survey discussed in this press
release. The IP survey used a pole-dipole array with readings every 25 metres (n=1 to 8).
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 managed by François Bissonnette,
P.Geo., Azimut's Operations Manager and
Simon Houle
, P.Geo., Azimut's Chief Geologist. Both
have reviewed the content of this press release. Joël Simard, P.Geo., Consulting Geophysicist for
Azimut, was responsible for processing and interpreting the survey data and has reviewed the
contents of this release.
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 69.2 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/March2021/18/c6830.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 18-MAR-21