Symbol: AZM.TSX Venture
LONGUEUIL, QC, Nov. 12 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") reports that its partner Goldcorp Inc. ("Goldcorp") has made progress with the 2009 exploration program on four (4) gold targets and one (1) copper-zinc-silver target on the Wabamisk property. A follow-up program consisting of 2,000 m of diamond drilling is being considered for the upcoming winter season.
The Wabamisk property is 57 km long and comprises 755 claims over a 400 km2 surface area in the James Bay region of Quebec. The property is currently held 100% by Azimut. Goldcorp has the option to earn a 51% interest and an additional 19% interest upon the delivery of a bankable feasibility study. Goldcorp is the project operator. Wabamisk is located 70 km south of Goldcorp's 5.3-million-ounce Eleonore gold deposit and about 20 km southeast of Eastmain Resources 1-million-ounce Clearwater gold deposit.
The 2009 program consisted of:
- Prospecting, grab sampling (260 samples), and channel sampling (66 m);
- An initial 15-hole diamond drilling program (3,243 m); and
- Soil sampling (800 samples).
Field exploration work has highlighted the potential of four priority sectors in the western half of the property, none of which have as yet been drill-tested:
- GH prospect: felsic volcanics with intense quartz veining, silica and
potassic alteration; the prospect is positioned within a 3.5-km-long
strong antimony (Sb) and arsenic (As) soil anomaly; an IP geophysical
anomaly correlates well with the soil geochemistry; the area has few
outcrops however rock grab sampling results included 428 ppb Au, 1.94%
Sb and 0.18% As. Antimony and arsenic are excellent pathfinders for
- Brenda prospect: mafic volcanics with intense silica alteration and
quartz veining in an area with few outcrops; channel sampling returned
453 ppb Au and 0.83% As over 5.0 m; grab samples collected in 2007
returned gold values up to 2.09 g/t Au; the minimum length of the
Brenda target is 500 m.
- Duchably prospect: quartz breccia veins hosted within a felsic
intrusive unit; a grab sample returned 27.1 g/t Au, 14.2 g/t Ag,
30.0 g/t Bi and 0.13% Pb.
- ML prospect: altered mafic volcanics with tourmaline returned 7.53 g/t
Au in a grab sample; the ML prospect lies along the eastern extension
of the gold-bearing Dome area, which is recognized over a strike length
of at least 1.7 km; historical gold values for the Dome area include
80.7 g/t Au, 21.0 g/t Au and 10.8 g/t Au in grab samples.
The drilling program, designed to test a number of combined geochemical and geophysical targets in the eastern half of the property, generally intersected sulphides or graphite with little or no gold. However, very encouraging results were obtained along a 75-m section in Hole W-09-08, where mineralized intervals with a total cumulative downhole length of 30 m contained disseminated to semi-massive sulphides bearing anomalous copper, zinc and silver values with strong chloritic and aluminous alteration. Results of interest are as follows:
- Hole W-08-03: 1,198 ppm Cu and 1,362 ppm Mo over 2.2 m
(from 83.8 to 86.0 m)
- Hole W-08-04: 446 ppb Au and 2,030 ppm Cu over 1.0 m
(from 119.5 to 120.5 m)
- Hole W-09-08: 6,100 ppm Cu, 5,280 ppm Zn and 6.1 g/t Ag over 1.4 m
(from 122.0 to 123.4 m)
850 ppm Cu and 704 ppm Zn over 3.0 m
(from 154.5 to 157.5 m)
226 ppm Cu, 3,935 ppm Zn, 1,629 ppm Pb and 18.0 g/t Ag
over 7.0 m (from 175.0 to 182.0 m)
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 cutting-edge targeting methodologies with the objective of discovering 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.
SOURCE Azimut Exploration Inc
For further information: For further information: Jean-Marc Lulin, President and CEO, (450) 646-3015, Fax: (450) 646-3045, firstname.lastname@example.org; www.azimut-exploration.com