Symbol: AZM.TSX Venture
LONGUEUIL, QC, April 8 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
and its partner Rukwa Uranium Ltd ("Rukwa") report encouraging results for
their 2008 field program at the North Minto and South Minto properties in
Nunavik, Quebec. The highlight of the program was the discovery of a high
grade prospect related to a regional-scale structure, yielding up to 1.21%
U3O8 with a U/Th ratio of 25,600. This target, which warrants a priority
follow-up, may represent a major late-stage structurally-controlled
These results further confirm the uranium potential of the Central Quebec
region identified by Azimut through its predictive modeling that covered most
of Quebec and Labrador. Other encouraging prospecting results in Central
Quebec were obtained following programs conducted on Azimut's properties in
2008. These previously released results were from the Hudson Bay (up to 3.01%
U3O8), West Minto (up to 0.90% U3O8), Central Minto (up to 0.65% U3O8) and
South Bienville (up to 0.67% U3O8) properties. Prior to these programs, very
little uranium mineralization had been reported in the Central Quebec region,
and none on the above 6 properties (7,785 claims). A total of 86 new uranium
showings have now been identified on the properties by Azimut and its
partners, and several of them appear to be very attractive for additional
At North Minto (2,276 claims covering 1,042 km2), a total of 103 rock
samples were collected and analyzed: 100 from outcrops and 3 from boulders.
Outcrop samples returned assays up to 0.14% U3O8 and boulder samples yielded
assays less than 0.01% U3O8. One soil sample returned 0.74% U3O8. Uranium
results for the grab samples are as follows:
- 6 samples with values above 0.05% U3O8, including: 0.14% U3O8, 0.13%
U3O8, 0.10% U3O8, 0.10% U3O8 and 0.07% U3O8;
- 7 samples with values from 0.01% to 0.05% U3O8;
- 90 samples with values less than 0.01% U3O8.
The U/Th ratios for the 6 samples with more than 0.05% U3O8 range from 0.7
to 3.3. Mineralization is hosted mainly in pegmatite dykes and granite.
Significant mineralization has been identified in the southwestern portion of
the property over a 2-km-long target area. It occurs along an important
northwest-trending structure that coincides with a contact between tonalites
and granites. Metavolcanic and metasedimentary rocks are proximal to this
contact. The mineralization shows a good spatial correlation with lake-bottom
sediment and helicopter-borne radiometric anomalies.
On the South Minto property (1,230 claims covering 574 km2), a total of 9
samples were collected and analyzed: 7 from outcrops and 2 from boulders.
Outcrop samples returned assays up to 1.21% U3O8 and one boulder sample
yielded an assay value of 0.36% U3O8. Uranium results for grab rock samples
are as follows:
- 3 samples with values above 0.05% U3O8, including 1.21% U3O8,
0.89% U3O8 and 0.36% U3O8;
- 6 samples with values less than 0.01% U3O8.
The most interesting prospect has been identified in the central portion
of the property along an important structure and correlates with high values
in uranium in lake-bottom sediment (up to 1,030 ppm U) and helicopter-borne
uranium anomalies. It returned grades of 1.21% U3O8 and 0.89% U3O8 with U/Th
ratios of 25,600 and 10,800 respectively. The two samples collected are
chlorite-rich rocks with anomalous values in gold (up to 267 ppb), lead (up to
0.39%) and copper (up to 759 ppm).
Last summer's program at North Minto and South Minto assessed target
areas that were previously defined using the results of 2007 exploration work,
which included uranium values (up to 1,330 ppm U) in lake-bottom sediments and
preliminary data from a helicopter-borne radiometric survey over part of the
South Minto property (press release of April 2, 2008). When the radiometric
survey was completed in 2008 (6,795 line-km), it also covered the North Minto
Data interpretation for both properties is nearly complete and will be
used to define the 2009 follow-up field program. Rukwa is the operator. Azimut
has granted Rukwa the option to earn a 50% interest on both properties and an
additional 15% interest upon the delivery of a bankable feasibility study.
Rock samples were assayed at Activation Laboratories Ltd in Ancaster, Ontario,
and at SGS Lakefield Research Limited in Lakefield, Ontario. Both laboratories
are ISO-IEC 17025 accredited facilities.
Year 2009 option payments totalling $120,000 have been received from
Rukwa in respect of the North Minto and South Minto properties. To date,
Azimut's 2009 revenue amounts to $435,000.
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 using a proprietary targeting methodology combined with considerable
exploration know-how to discover major ore deposits.
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.
For further information:
For further information: Jean-Marc Lulin, President and Chief Executive
Officer, (450) 646-3015, Fax: (450) 646-3045, email@example.com,