Azimut Receives the Discovery of the Year Award from AEMQ
Azimut Receives the Discovery of the Year
Award from AEMQ
TSXV: AZM
OTCQX: AZMTF
LONGUEUIL, QC
,
Oct. 11, 2022
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce that it has received the
prestigious
Discovery of the Year
award from the Mineral Exploration Association of
Quebec
(AEMQ) for the discovery of the
Patwon Gold Zone
on the
100%-owned Elmer Property
located
in the Eeyou-Istchee James Bay region of
Quebec
.
This award is granted to highlight the importance of a new discovery that produced a significant
ripple effect on exploration activities with regards to both the property itself and the surrounding
area.
The Azimut team is very honoured by this recognition from its peers. Advancing the Elmer discovery
to reveal its full potential is an exciting enterprise for which the Azimut team is entirely committed
despite the market turbulence.
The discovery of the Patwon Gold Zone was announced on
January 14, 2020
, following a maiden
drilling program. At current time, Patwon has been delineated with 115 holes totalling
48,381 metres. The zone displays remarkable continuity from surface to a minimum vertical depth of
800 metres where it remains open at depth and probably along strike. The zone has been outlined
over a strike length of nearly 600 metres, with an average estimated true width of 35 metres.
Ongoing drilling aims to expand and optimize the shape of a potential open pit resource, as well as
test several high-quality targets in the vicinity (
see press releases of
May 30, 2022
and
September
13, 2022
).
The best ten (10) holes previously released for the Patwon Zone are:
24.04 g/t Au over 18.00 m
from 254.00 m to 272.00 m
Estimated true width:
17.12 m
3.15 g/t Au over 102.50 m
from 33.50 m to 136.00 m
62.58 m
2.84 g/t Au over 108.23 m
from 34.27 m to 142.50 m
63.75 m
3.01 g/t Au over 90.20 m
from 151.30 m to 241.50 m
82.71 m
6.43 g/t Au over 40.60 m
from 287.90 m to 328.50 m
38.24 m
4.43 g/t Au over 46.05 m
from 265.45 m to 310.50 m
42.62 m
2.61 g/t Au over 72.15 m
from 122.20 m to 194.35 m
58.61 m
5.47 g/t Au over 33.60 m
from 329.40 m to 363.00 m
35.00 m
4.21 g/t Au over 39.50 m
from 266.00 m to 305.50 m
37.91 m
3.46 g/t Au over 44.10 m
from 30.00 m to 74.10 m
34.07 m
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's Qualified Person under
National Instrument 43-101.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and
partnership development. The Company holds the largest mineral exploration portfolio in
Quebec
.
Azimut is actively advancing its wholly-owned flagship
Elmer Gold Project
to the initial resource
stage in the
James Bay
region. Azimut has also acquired a substantial nickel position at the scale of
this region.
The Company uses a pioneering approach to big data analytics (the proprietary
AZtechMine
TM
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 79.3 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 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.
There are many factors that could cause such differences, particularly volatility and sensitivity to
market metal prices, impact of change 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/October2022/11/c9446.html
%SEDAR: 00003284E
For further 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,
CO: Azimut Exploration Inc.
CNW 06:30e 11-OCT-22