Azimut Strengthens the High-Grade Core Zone at Patwon, Elmer Property, Quebec Symbol: AZM.TSX Venture
Azimut Strengthens the High-Grade Core Zone
at Patwon, Elmer Property, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Nov. 4, 2021
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (TSXV: AZM) is pleased to announce new
high-grade gold intervals
from the Patwon
Zone on the Company's
100% owned Elmer Property
(the "Property") in the
James Bay
region of
Quebec
. Drilling completed to date has confirmed an open-ended robust core zone at Patwon.
The final assay results have now been received for 15 holes (
5,431.6 m
) at Patwon from a program
completed earlier this year. Assay results are still pending for another 32 drill holes that tested 10
targets in the 8-kilometre by 3-kilometre priority exploration corridor around the Patwon discovery.
A new 20,000-metre drilling program is underway to continue expanding the Patwon Zone and
prepare for a maiden NI 43-101 compliant resource estimate (
see press release of
October 18,
2021
). This program will also continue testing highly prospective targets nearby. Azimut considers it
is probable that other significant mineralized zones will be found along strike from Patwon.
HIGHLIGHTS
(
see Figures 1 to 6, Tables 1 to 3
)
• Hole ELM21-102
1.44 g/t Au over 60.8 m
(from 228.5 m to 289.3 m), including:
18.1 g/t Au over 2.75 m
and
2.55 g/t Au over 6.9 m
• Hole ELM21-097
1.10 g/t Au over 57.9 m
(from 295.6 m to 353.5 m), including:
2.52 g/t Au over 8.0 m
and
4.14 g/t Au over 3.75 m
• Hole ELM21-094
9.92 g/t Au over 2.3 m
(from 229.7 m to 232.0 m)
2.17 g/t Au over 19.0 m
(from 324.5 m to 343.5 m), including:
6.07 g/t Au over 2.1 m
and
12.0 g/t Au over 1.5 m
12.2 g/t Au over 1.25 m
(from 358.35 m to 359.6 m)
• Hole ELM21-093
8.19 g/t Au over 2.4 m
(from 150.4 m to 152.8 m)
11.58 g/t Au over 2.45 m
(from 162.35 m to 164.8 m)
These results further delineate the robust mineralized body, including the central core that tends
to widen to the west with increasing depth, as shown on the updated
grade x thickness
longitudinal section (
Figures 4 and 5
). The
grade x thickness
factor (example: 5.0 g/t Au x
10 m
= 50 GT) is commonly used in the mining industry to rank and compare mineralized intercepts.
Based on the results disclosed to date and using true estimated widths, the
core zone
is
defined thus far by
25 drill hole intercepts
ranging from
50 GT
to
412 GT
, including 11
intercepts above 100 GT. These 25 drill hole intercepts display an
average true width of
45
metres,
with an average grade of
2.86 g/t Au
.
Patwon Gold Zone: Range of 100 GT to 412 GT
Hole #
From
To
Length (m)
Au (g/t)
True
Thickness (m)
Grade Thickness
(g/t Au x m)
ELM21-086
254
272
18
24.04
17.1
411.5
ELM20-034
151.3
241.5
90.2
3.01
82.7
249.0
ELM21-072
287.9
328.5
40.6
6.43
38.2
245.9
ELM19-002
33.5
136
102.5
3.15
62.6
197.1
ELM21-070
265.25
310.5
46.05
4.43
42.6
188.8
ELM19-003
34.27
142.5
108.23
2.84
63.7
181.0
ELM21-071A
329.4
363
33.6
5.47
32.1
175.3
ELM21-092
266
305.5
39.5
4.21
37.9
159.6
ELM20-026
122.2
194.35
72.15
2.61
58.6
153.0
ELM19-007
31.5
103
71.5
2.19
56.3
123.3
ELM21-100
173
212.35
39.35
3.28
34.5
113.3
Patwon Gold Zone: Range of 50 GT to 100 GT
Hole #
From
To
Length (m)
Au (g/t)
True
Thickness (m)
Grade Thickness
(g/t Au x m)
ELM19-004
5
102
97
1.68
57.8
97.2
ELM21-073
407.3
473.3
66
1.44
65.6
94.5
ELM19-006
5
134
129
1.15
73.3
84.3
ELM21-102
228.5
289.3
60.8
1.44
58.1
83.6
ELM20-051A
198.15
220.5
22.35
3.85
20.3
78.0
ELM20-028
156.3
214.5
58.2
1.44
54.1
77.9
ELM20-031
172.5
208.6
36.1
2.47
29.2
72.2
ELM20-009
121.2
224.3
103.1
1.14
60.2
68.6
ELM20-011
45.75
68.5
22.75
3.66
18.3
66.8
ELM20-052
230.8
278.85
48.05
1.38
45.9
63.3
ELM21-066
142.8
152.6
9.8
7.84
8.1
63.2
ELM21-097
295.6
353.5
57.9
1.1
54.7
60.1
ELM21-094
324.5
359.6
20.25
2.79
19.2
53.4
ELM19-005
28.41
82.5
54.09
1.54
33.2
51.2
The central core extends from the surface to a minimum depth of 450 metres, where the
mineralized system remains open. It is spatially correlated with a vertically dipping felsic
intrusion, indicating an
excellent possibility for a kilometre-scale vertical extent
of the
mineralized body.
The Patwon Zone is currently defined over a strike length of 520 metres.
Figure 4
illustrates the
progress since the maiden drilling program (7 holes,
996 m
) reported in
January 2020
.
The current delineation drilling program to expand the zone will be conducted on systematic 50-
metre centres from the surface down to 500 metres and on systematic 50-metre by 100-metre
centres down to 800 metres (
Figure 6
).
The Elmer Property comprises 515 claims covering 271.3 km
2
over a 35-kilometre strike length. The
Property is 285 kilometres north of the town 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.
Drilling Contract and Analytical Protocols
The drilling contract was awarded to RJLL Drilling Inc. of
Rouyn-Noranda, Quebec
. The core
diameter is NQ and the core samples were sent to AGAT Laboratories of
Mississauga, Ontario
.
Azimut is facing unexpectedly long delays in receiving its assay results. Gold is analyzed by fire
assay, with atomic absorption and gravimetric finish for grades above 3.0 g/t Au. Samples are also
analyzed for a 48-element suite using ICP. Azimut applies industry-standard QA/QC procedures to
its programs. Certified reference materials, blanks and field duplicates are included in all drill core
batches sent for analysis.
Dr.
Jean-Marc Lulin
, P.Geo., prepared this press release as Azimut's qualified person under
National Instrument 43-101. The program is managed by François Bissonnette, P.Geo., Operations
Manager and
Simon Houle
, P.Geo., Chief Geologist. Both have reviewed the content of this press
release.
About Azimut
Azimut is a mineral exploration company whose core business centres on target generation and
partnership development. The Company is actively advancing the Patwon gold discovery on its
100%-owned flagship Elmer Property in the
James Bay
region.
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, a strong balance sheet, and has 81.7 million shares issued and
outstanding. Azimut's competitive edge against exploration risk is based on systematic regional-
scale data analysis and multiple concurrently active projects.
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/November2021/04/c8591.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 04-NOV-21