Symbol: AZM.TSX Venture
LONGUEUIL, QC, Jan. 30 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
reports that its partner Goldcorp Inc. ("Goldcorp") will start a 2,800-metre
diamond drilling program in early February to test several quality gold
targets on the Wabamisk property in the James Bay region, Quebec. Wabamisk is
located 70 km south of Goldcorp's Eleonore property that hosts the Roberto
gold deposit. Azimut considers that the Wabamisk property shares several
characteristics with Eleonore, particularly the presence of gold-enriched
altered metasedimentary rocks occurring in the vicinity of the contact between
the La Grande and Opinaca geological subprovinces.
The minimum 12-hole drilling program is designed to test induced polarity
(IP) anomalies that are generally coincident with anomalous gold values in
rocks and gold-arsenic-antimony values in soil, and are also in close
proximity to a major northeast-trending lineament.
This work phase follows a six-week field program in 2008 that consisted
of line cutting (124 line-km), IP geophysical surveying (103 line-km),
prospecting, geological mapping and rock sampling (555 grab and channel
samples). In addition to drilling, trenching (1,500 m) and another IP survey
(100 line-km) will be performed. The total estimated cost of the work that
will be carried out, including drilling, is estimated at $1.1 million.
Sampling results included 2 samples with values higher than 1.0 g/t Au
(2.4 and 2.1 g/t Au), 6 samples with values between 0.5 and 1.0 g/t Au, and 17
samples with values between 0.1 and 0.5 g/t Au. High copper values (more than
1.0% Cu) were also obtained in two samples, as well as elevated silver values
(more than 100 g/t Ag) in two samples. The anomalous gold values were
identified in metasedimentary rocks or near the contact between
metasedimentary and volcanic rocks. Arsenopyrite, tourmaline and silica are
frequently associated with the gold mineralization.
The Wabamisk property consists of 755 claims totalling 400 km2. Goldcorp
has the option to earn a 51% interest on the property and an additional 19%
interest upon the delivery of a bankable feasibility study. Goldcorp is the
project operator. The ground IP survey was performed by Geosig Inc. of Quebec
City using the following configuration: time domain, dipole-dipole, a=50 m,
n=1 to 6. Rock samples were assayed by ALS Chemex of Val d'Or, Quebec, using
an ICP method.
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.
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, Tel.: (450) 646-3015,
Fax: (450) 646-3045, firstname.lastname@example.org, www.azimut-exploration.com