Azimut completes exploration program along the Rex Trend in Nunavik, Northern Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC, Sept. 11, 2012 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) reports that the Company has completed an intensive work program along the Rex Trend, comprising the Rex, Rex South and NCG properties, as well as on the Nantais property. Results will be released on a timely basis.
The Rex Trend is considered by Azimut's management to be a new mineral province within the Archean Superior Province in Northern Quebec, with a potential for hosting large-scale deposits, including Iron Oxide Copper Gold ("IOCG") deposits, intrusion-related polymetallic deposits, and sediment-hosted gold deposits. Azimut has developed a commanding position in this region, which covers a 330-km-long strong copper anomaly in lake-bottom sediments coupled with a strong 100-km-long rare earth anomaly.
The 2012 program was designed to: (a) increase the sampling density on already known quality mineralized zones; and (b) perform reconnaissance prospecting on newly defined targets. A total of 774 rock grab samples have been collected on the different properties as follows:
- Rex property: 175 samples
- Rex South property: 410 samples
- NCG property: 61 samples
- Nantais property: 128 samples
Since 2010, exploration programs on Azimut's properties have led to the discovery of at least 400 mineral prospects, including five IOCG zones (containing mostly copper) and intrusion-related polymetallic (gold-silver-copper-tungsten-tin-bismuth) mineralization (see press release dated June 12, 2012). Work performed to date on the properties comprises 21,379 line-km of airborne geophysics, 6,226 in-fill lake-bottom sediment samples, 7,628 rock samples from prospecting, and 7,070 m of rotary drilling (82 holes), giving Azimut a key exploration edge in the region.
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under NI 43-101.
Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is project generation using cutting-edge targeting methodologies, along with partnership development. Azimut holds the largest mineral exploration portfolio in Quebec. The Company has 36.47 million shares issued and maintains a rigorous business approach to minimize equity dilution. The Company currently has working capital of $3.5 million.
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
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