Azimut expands its stake in Nunavik, Quebec
Symbol: AZM.TSX Venture
LONGUEUIL, QC, Jan. 17, 2013 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) announces that the Company has acquired by map staking three (3) new properties, the Qassituq, Kovik and Tasinga properties, for their copper and gold potential. Located in the Raglan region in Northern Quebec, these projects are the result of systematic data processing performed by Azimut over the entire region.
Totalling 434 claims (178 km2) in 6 blocks, the properties display very strong geochemical anomalies in lake-bottom sediments, notably in arsenic and/or copper. They comprise several historical mineralized prospects (grab samples) including:
- 3 prospects with values up to 1.7% Cu and 0.54 g/t Au on Qassituq;
- 2 prospects with values up to 1.5% Cu on Tasinga.
In addition, the Kovik property covers the possible western extension of an 11-km-long copper and gold system recently identified on the Gerfaut property by Corvus Gold Inc (TSX: KOR). This project hosts significant historical prospects, including 3.0 g/t Au over 10.5 m (drill hole) and up to 1.52% Cu (grab sample). Results reported by Corvus Gold in 2012 include grab samples with up to 23.6 g/t Au and 3.8% Cu.
Azimut is one of the leading exploration companies in Nunavik, where it holds a commanding position over extensive prospective trends for gold and polymetallic mineralization (press release dated June 12, 2012). This includes the following mineralized zones:
- Copperton Zone (copper-gold) on the Rex South property (press release dated September 13, 2012);
- Augossan Zone (copper-tungsten-gold-silver) on the Rex South property (press release dated October 4, 2012);
- RBL Zone (copper) and CM Zone (copper) on the Rex property (press releases dated February 9, 2012); and
- Nantais (gold-copper) on the Nantais property (press release dated September 18, 2012).
Azimut has the largest mineral exploration portfolio in Quebec. All its key properties are covered by sufficient exploration work and are in good standing. Partnership development continues to be a top priority for Azimut. The Company currently benefits from partnership agreements on the following projects: Eleonore South (Goldcorp, Eastmain Resources), Wabamisk (Goldcorp), and Opinaca A & B (Aurizon Mines, Everton Resources). Azimut has 36.47 million shares issued and will maintain its business approach of minimizing equity dilution.
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.
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.For further information: