Symbol: AZM.TSX Venture
LONGUEUIL, QC, Nov. 19 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
reports excellent additional results obtained on the North Rae property
located in the Ungava Bay region, Nunavik, Quebec. This property is under
option by NWT Uranium Corp. ("NWT"). Assay results from 334 rock grab samples
further demonstrate the uranium potential of the North Rae property, more
specifically of seven distinct mineralized zones with significant lateral
extents. These zones have been discovered during the course of the 2006 and
2007 surface prospecting programs (see appended figures):
- Aqpiq Zone (1 km extent): grades up to 1.75% U3O8
(or 38.6 pounds/t U3O8);
- Jonas Zone (0.7 km extent): grades up to 3.30% U3O8
(or 72.7 pounds/t U3O8);
- Llaluga Zone (1.1 km extent): grades up to 0.24% U3O8
(or 5.3 pounds/t U3O8);
- Amittujaq Zone (3.5 km extent): grades up to 0.57% U3O8
(or 12.5 pounds/t U3O8);
- Tasialuk Zone (1 km extent): grades up to 0.58% U3O8
(or 12.8 pounds/t U3O8);
- Tasik Zone (0.9 km extent): grades up to 0.30% U3O8
(or 6.6 pounds/t U(3)O8); and
- Torrent Zone (1.7 km extent): grades up to 0.52% U3O8
(or 11.4 pounds/t U(3)O8).
These mineralized sectors correlate well with strong continuous
helicopter-borne radiometric anomalies identified during the year 2006 survey.
Detailed ground radiometric surveys performed during the 2007 program on five
of these zones (Aqpiq, Jonas, Tasialuk, Tasik and Torrent zones) allow to
further assess the mineralization potential, general geometry and extent of
Assay results disclosed in this release refer to 334 rock samples from
outcrops, which are distributed as follows:
- 118 samples with values higher than 0.05% U3O8, including
69 samples with values above 0.1% U3O8;
- 119 samples with values between 0.01% and 0.05% U3O8; and
- 97 samples with values less than 0.01% U3O8.
The Aqpiq Zone returned 42 samples with values higher than 0.05% U3O8,
including 28 samples with values above 0.1% U3O8 (on a total of 47 samples).
The best values are 1.74% U3O8, 1.20% U3O8 (for a composite sample returning
1.73%, 1.03% and 0.85% U3O8), 1.15% U3O8, 0.73% U3O8, 0.48% U3O8, 0.44% U3O8,
0.42% U3O8, 0.41% U3O8, 0.37% U3O8 and 0.34% U3O8. The Agpiq Zone is
recognized over an area of 1 by 0.3 km and is characterized by shallow dipping
pegmatite dykes. The ground radiometric survey indicates a strong contrast
between the high and low values, respectively correlated to the pegmatites and
The Jonas Zone returned 26 samples with values higher than 0.05% U3O8,
including 16 samples with values above 0.1% U3O8 (on a total of 56 samples).
The best values are 3.30% U3O8, 0.58% U3O8, 0.55% U3O8, 0.52% U3O8, 0.43%
U3O8, 0.31% U3O8, 0.27% U3O8, 0.23% U3O8, 0.19% U3O8 and 0.19% U3O8. Results
previously released included: 0.64% U3O8 and 0.27% U3O8. This zone is
preliminarily delineated over an area of 0.7 by 0.2 km. The ground survey
outlines a highly radiometric axis recognized along a 0.5 km strike length
which corresponds to a silica-rich leucocratic pegmatite dyke. The dip of
pegmatites appears to be sub-vertical.
The Llaluga Zone returned 9 samples with values higher than
0.05% U3O8, including 5 samples with values above 0.1% U3O8 (on a total of 41
samples). The best values are 0.24% U3O8, 0.14% U3O8, 0.12% U3O8, 0.10% U3O8,
and 0.10% U3O8. This zone, recognized along a 1.1 km strike length, is well
correlated with a much longer (7 km of extent) helicopter-borne uranium
anomaly. Magnetite-rich radioactive pegmatites have been observed along this
zone with a sub-vertical dip.
The Amittujaq Zone (formerly designated as the Rae-1 Zone) returned 7
samples with values higher than 0.05% U3O8, including 4 samples with values
above 0.1% U3O8 (on a total of 9 samples). The best values are 0.41% U3O8,
0.25% U3O8, and 0.18% U3O8. Results previously released included: 0.57% U3O8,
0.54% U3O8, 0.50% U3O8, 0.46% U3O8, 0.29% U3O8 and 0.22% U3O8. This zone
recognized over a 3.5 km extent is well correlated to a 5 km-long
helicopter-borne uranium anomaly. Dip is sub-vertical to steeply dipping.
The Tasialuk Zone returned 9 samples with values higher than 0.05% U3O8,
including one sample value above 0.1% U3O8 (on a total of 29 samples). The
best value is 0.58% U3O8. The Tasialuk Zone corresponds to a strong
helicopter-borne uranium anomaly and is sharply defined by the ground
radiometric survey forming a 1 by 0.2 to 0.4 km radioactive envelope. This
zone corresponds to a pegmatitic dyke swarm, locally sheared and/or
silica-rich, hosted by metasediment. Widths of pegmatitic dykes range from one
meter up to more than 50 m. Dip is steep to the NE.
The Tasik Zone returned 8 samples with values higher than 0.05% U3O8,
including 7 samples with values above 0.1% U3O8 (on a total of 29 samples).
The best values are 0.30% U3O8, 0.24% U3O8, 0.23% U3O8, 0.14% U3O8, 0.12%
U3O8, 0.11% U3O8 and 0.11% U3O8. Results previously released included 0.16%
U3O8. The ground radiometric survey delineates a high radioactive envelope
forming a 0.9 by 0.1 km zone.
The Torrent Zone returned 6 samples with values higher than 0.05% U3O8,
including 2 samples with values above 0.1% U3O8 (on a total of 73 samples).
The best values are 0.52% U3O8 and 0.41% U3O8. This zone has a 1.7 km extent
with a much stronger radioactive envelope of about 0.5 by 0.1 km.
Other areas across the North Rae property also returned encouraging
values, including 0.66% U3O8, 0.20% U3O8, 0.19% U3O8, 0.13% U3O8 and
Potential of the North Rae property
Azimut is of the opinion that the North Rae property has a significant
potential to host uranium deposits. Target-type is mainly large-scale
intrusion-related deposits amenable to open pit mining. Two main mineralized
clusters appear: the Aqpiq-Jonas-Llaluga-Amittujaq cluster and the
Tasialuk-Tasik-Torrent cluster, the first one which tends to show higher
uranium grades. Initial review by Azimut of the ground radiometric surveys,
structural data and surface rock sampling results suggest significant lateral
and depth continuity of the identified mineralized zones. Potential for
additional discoveries on the property is very high.
Additional pending results of the 2007 program are principally related to:
- surface rock sampling of about 110 samples;
- first drilling program (8 holes totalling 562 m); and
- 1,027 line-km of helicopter-borne radiometric and magnetic
The North Rae property comprises 1,853 claims and a surface area of 828
km2. NWT, the operator of the project, has the option to earn up to 65%
interest on the property with the delivery of a bankable feasibility study
(press release of March 6, 2006).
In addition to North Rae, Azimut holds the following properties in the
same region: South Rae (2,275 claims optioned to Majescor Resources), Daniel
Lake (886 claims optioned to NWT Uranium Corp.) and Kangiq (1,770 claims
optioned to Central Uranium Corp.).
This press release was prepared by geologist Jean-Marc Lulin, Azimut's
Qualified Person as defined by NI 43-101. Fieldwork was conducted by IOS
Services Géoscientifiques Inc. of Saguenay, Quebec under the supervision of
Bertrand Taquet, NWT's Qualified Person. Rock samples were analyzed by aqua
regia digestion and ICP at the Saskatchewan Research Council (SRC) laboratory
in Saskatoon, which is an ISO-IEC 17025 accredited facility.
Azimut is a mineral exploration company using cutting-edge targeting
methodologies with the objective of discovering major ore deposits.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Jean-Marc Lulin, President and Chief Executive
Officer; Normand Champigny, Executive Vice President; (450) 646-3015, Fax:
(450) 646-3045, email@example.com, www.azimut-exploration.com