Azimut identifies a significant and continuous gravity anomaly over a high-grade chromite zone at Eastmain West (Cr, PGE, Ni) Symbol: AZM.TSX Venture
Azimut identifies a significant and continuous gravity anomaly over a high-grade chromite zone at Eastmain West (Cr, PGE,
Ni)
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
May 8, 2017
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
) (
TSXV: AZM
) is pleased to report the results of a recent ground-based
gravity survey on its 100%-owned Eastmain West Property in the
James Bay
region of
Quebec
. A linear gravity anomaly has been defined along the entire length
of a 1.2 km by 900 m grid on the central part of a 4-km-long ultramafic-mafic horizon. The gravity anomaly is spatially associated to the high-grade Dominic
Prospect, where channel sampling recently yielded
17.21% Cr
2
O
3
over
7.54 m
including
33.2% Cr
2
O
3
over
3.55 m
(see press release of January 19, 2017). The
next phase of work will consist of diamond drilling to determine the chromite potential of the anomaly.
The residual gravity anomaly is 1.2 km long and up to 200 m wide, and remains open to the north and south. According to the interpretation of a property-scale
airborne magnetic and electromagnetic survey, the position of the gravity anomaly is stratigraphically high in the intrusion and favourable for chromite sills.
Inversion modelling was performed to construct subsurface 3D models of possible causative bodies to explain the gravity anomaly. The results suggest a body of
significant strike, generally more developed at depth, below 50 m. It could reflect a subvertically dipping chromite body of substantial size, or disseminations or
thin interdigitations of chromite within high-density host rocks (dunite, harzburgite).
The gravity method is a proven geophysical tool for delineating the footprints of major chromite deposits in the Ring of Fire in
Northern Ontario
. As an example, a
strong gravity anomaly marks the 1,400-m strike length of the Big Daddy deposit owned by Noront Resources Ltd and KWG Resources Inc. (measured and
indicated resource of 29.1 Mt at 31.7% Cr
2
O
3
, inferred resource of 3.4 Mt at 28.1% Cr
2
O
3
) (from public data). The geological context and chromite mineralization
of the Eastmain West Property share many features with the Ring of Fire chromite-bearing intrusions, as highlighted by several independent studies (e.g.,
Geological Survey of Canada Open File 7856, 2015). In addition to chromite, the geological setting of the Eastmain West Property has significant potential for
massive sulphide Ni-Cu-PGE mineralization.
The Eastmain West Property covers 66 claims with a surface area of 35 km
2
. Situated in the Province of
Quebec
, recognized as one of the best mining
jurisdictions worldwide, the project is close to major infrastructure (permanent roads, power lines, airports), 45 km northeast of the municipality of
Nemaska
, and
would have access to seaborne shipping via
James Bay
.
This project complements Azimut's strategic gold position in the
James Bay
region, which comprises 15 properties. Four of the Company's gold projects are
active partnerships with
Goldcorp Inc.
,
Hecla Mining Company
,
Eastmain Resources Ltd
and
Everton Resources Inc.
, and four others are part of a regional
Strategic Alliance with
SOQUEM
covering 176,300 km
2
.
The geophysical survey was performed by Geosig Inc., a geophysical consulting firm based in the city of
Quebec
. Modelling and interpretation was conducted by
Jeremy S. Brett
, Senior Geophysical Consultant at MPH Consulting Limited of
Toronto
.
This press release was prepared by geologist
Jean-Marc Lulin
, acting as Azimut's Qualified Person under National Instrument 43-101.
Azimut is a mineral exploration company with a core business centred on target generation and concurrent partnership development. Targets are identified using
advanced processing of large geoscientific databases, enhanced by extensive exploration know-how. Azimut holds a strategic position for gold and base metals in
Quebec
. The Company has 45.4 million shares outstanding.
SOURCE
Azimut Exploration Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2017/08/c7802.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 06:30e 08-MAY-17