Strong potential of the Pikwa gold-polymetallic property highlighted by regional geochemical footprint Symbol: AZM.TSX Venture
Strong potential of the Pikwa gold-polymetallic
property highlighted by regional geochemical
footprint
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Nov. 27, 2018
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) is pleased to report on the strong potential of its gold-polymetallic
Pikwa
Property
adjacent to the Mythril Property where Midland Exploration Inc. (TSXV: MD) has
discovered a significant mineralized zone. The major target zone on the Pikwa Property is
characterized by a regional arsenic-bismuth-copper anomaly in lake-bottom sediments and a 20-
kilometre-long magnetic high where Azimut identified gold, copper, cobalt and molybdenum
mineralization (
see Figures 1 to 3
and press release of
November 6, 2018
). The results announced
by Midland Exploration appear to be directly on strike with the Pikwa target zone.
The Pikwa Property was acquired in 2016 and is jointly owned with
SOQUEM Inc.
under a Strategic
Alliance covering the
James Bay
region of Québec. The Strategic Alliance is based on the results of
Azimut's predictive mineral potential modelling covering 176,300 square kilometres.
The project-scale geochemical footprint is characterized by the results of a regional lake-bottom
sediment survey conducted by the government, followed by a property-wide survey (211 samples)
carried out by Azimut and SOQUEM in 2016. Highlights are as follows:
Spatially correlated arsenic and bismuth anomalies identified by the regional survey, with peak
values of 22 ppm As and 0.67 ppm Bi. Arsenic and bismuth are classical pathfinder elements for
gold mineralization.
A 38-kilometre-long copper anomaly identified by the regional survey, now largely covered by
the Property, with a peak value of 136 ppm Cu. The core of the anomaly correlates well with
the As and Bi footprints.
Peak values obtained during the recent detailed property-wide survey were comparable to
those of the regional survey and further defined the target zone.
Prospecting results obtained by Azimut correlate well with the As-Bi-Cu lake-bottom sediment
footprint. The best values from grab samples are >1% As at the Hyperion gold prospect, and
217.0 ppm Bi and 2.95% Cu further east along the magnetic trend.
The strong project-scale As-Bi-Cu footprint underscores the significant exploration potential of large
areas on the Property for which there is little information.
In
October 2018
, 266 claims were added to Pikwa, bringing the total to 701 claims for a total
coverage of 359.4 km
2
, providing a controlling position on this major target. The project is located
303 kilometres east of the Cree community of
Wemindji
in an area serviced by excellent
infrastructure including permanent roads, power grids and airport facilities. Pikwa has been the
subject of a 100% partner-funded exploration program with Azimut as the operator.
This press release was prepared by Dr.
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified
person under National Instrument 43-101.
SOQUEM
, a subsidiary of Ressources Québec, is a leading investor in mineral exploration in
Quebec
. Its mission is to explore, discover and develop mining properties in
Quebec
. SOQUEM has
participated in more than 350 exploration projects and contributed to major discoveries of gold,
diamonds, lithium and other minerals.
Azimut
is a mineral exploration company whose core business is centred on target generation and
partnership development. The Company's pioneering proprietary approach to Big Data analytics
(AZtechMine) is enhanced by extensive exploration know-how. Azimut maintains rigorous financial
discipline. It has 48.5 million shares outstanding.
Azimut holds a strategic position for gold and base metals in
Quebec
, including one of the largest
exploration portfolios in the
James Bay
region (22 properties covering 4,767 claims or 2,476 km
2
).
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/November2018/27/c5356.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 07:00e 27-NOV-18