Symbol: AZM.TSX Venture
LONGUEUIL, QC, Feb. 21, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") (TSXV: AZM) is pleased to announce that a ground-based gravity survey will commence on its 100%-owned Eastmain West Property in the James Bay region of Quebec. The objective is to better define the lateral and depth potential of a kilometre-scale high-grade chromite target zone. Recently reported channel sampling results from this part of the property reached 17.21% Cr2O3 over 7.54 m, including 33.2% Cr2O3 over 3.55 m (see press release of January 19, 2017). The survey will also be used to assess the property's potential for Ni-Cu-PGE massive sulphides, which may be present in this geological setting. The next work program will consist of mechanical stripping and diamond drilling.
The Eastmain West Property complements Azimut's strategic gold position in the James Bay region, which comprises 15 properties. Four of these gold projects are subject to active partnerships with Goldcorp Inc., Hecla Mining Company, Eastmain Resources Ltd and Everton Resources Inc., and four others are part of a regional Strategic Alliance with SOQUEM covering a 176,300-km2 area.
The gravity survey will be carried out over the central part of a 4-km-long prospective horizon within a mafic-ultramafic intrusion displaying a strong magnetic and electromagnetic signature. The survey aims to characterize the footprint and extensions of two high-grade chromite prospects (Dominic and Sledgehammer) within an area measuring 1,200 m long by 900 m wide.
The gravity method is a proven geophysical tool for delineating the footprints of major chromite deposits in the Ring of Fire in Northern Ontario. As an example, a strong gravity anomaly marks the 1,400-m strike length of the Big Daddy deposit owned by Noront Resources Ltd and KWG Resources Inc. (measured and indicated resource of 29.1 Mt at 31.7% Cr2O3, inferred resource of 3.4 Mt at 28.1% Cr2O3). The geological context and chromite mineralization of the Eastmain West Property share many common features with the chromite-bearing intrusions of the Ring of Fire, as highlighted by several independent studies (see press release of January 19, 2017).
Chromite is the ore mineral of chromium. Its high resistance to corrosion and very high melting point make it a key element in the production of stainless steel and heat-resistant steel. There are no chromite producers in North America and the global market context is favourable.
The Eastmain West Property covers 66 claims with a surface area of 35 km2. Located in the Province of Quebec, which is recognized as one of the best mining jurisdictions worldwide, the project is situated close to major infrastructure (permanent roads, power lines, airports), 45 km northeast of the municipality of Nemaska. The project would have access to seaborne shipping via James Bay.
The geophysical survey will be performed by Geosig Inc., a geophysical consulting firm based in the city of Quebec.
This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under National Instrument 43-101.
Azimut is a mineral exploration company with a core business centred on target generation and concurrent partnership development. Targets are identified using advanced processing of large geoscientific databases, enhanced by extensive exploration know-how. Azimut holds a strategic position for gold and base metals in Quebec.
SOURCE Azimut Exploration Inc.
For further information: Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015, Fax: (450) 646-3045, firstname.lastname@example.org; www.azimut-exploration.com