Symbol: AZM.TSX Venture
LONGUEUIL, QC, Jan. 12 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or "the Company") is pleased to report that its partner Aurizon Mines Ltd. ("Aurizon") will invest a total of $5.1 million in exploration work in 2011 on two (2) properties under option
agreement with the Company, including $4.1 million on the Rex South
Rex South Property (1,822 claims, 794 km2)
Following the discovery of a major gold-silver-copper-tungsten
mineralized zone on the Rex South property in 2010, Aurizon has planned
a 2011 exploration budget totalling $4.1 million. The zone occurs in an
area of significant outcrop exposure and has been recognized over a
strike length of 3.3 kilometres and a width of 50-200 metres, and is
open in all directions. A 4,000-metre drill program will test the
discovery zone, and surface sampling will be carried out on other
copper-gold anomalies identified through geophysical and geochemical
The Rex South property has strong exploration potential based on
extensive geochemical anomalies, geophysical signatures and the
presence of several mineralized prospects, including high-grade gold
and copper values obtained from grab samples (see press releases of
November 8 and December 20, 2010).
Opinaca A & B Property (649 claims, 338 km2)
Following the signing of a Letter of Intent, as announced on September
16, 2010, Aurizon plans to initiate a $1.0 million exploration program
consisting of surface sampling, geophysical surveys and 2,000 metres
of drilling on the Opinaca A & B property in 2011.
The property is located in the James Bay area in close proximity to
Goldcorp's Eleonore gold deposit. Exploration work performed by Azimut
and Everton Resources ("Everton") at Opinaca A & B since 2005 led to
the discovery of significant gold mineralization. Azimut and Everton
currently own a 50% interest each on the property, whereby Aurizon can
acquire up to 60% undivided ownership interest.
This press release was prepared by Jean-Marc Lulin, P.Geo., acting as
Azimut's Qualified Person under NI 43-101. Azimut is a mineral
exploration company using cutting-edge targeting methodologies with the
objective of discovering major ore deposits. Azimut holds the largest
mineral exploration portfolio in Quebec.
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:
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 - Fax: (450) 646-3045