Symbol: AZM.TSX Venture
LONGUEUIL, QC, March 28, 2019 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce it recently acquired the Kaanaayaa Property (the "Project") to cover an excellent gold-copper exploration target in the James Bay region of Quebec (see Figure 1). This wholly owned Project is about 10 km southeast of the Pikwa Property (Azimut-SOQUEM). Azimut will undertake a detailed lake-bottom sediment geochemical survey over the Project, followed by a prospecting phase.
The Project comprises 390 claims (200.5 km2) acquired by map designation. It has the following notable features (see Figures 2 to 5):
- Strong regional-scale geochemical footprint in lake-bottom sediments, combining bismuth, silver, copper, molybdenum and tungsten; this footprint is comparable to the signature over gold and polymetallic prospects on the Pikwa Property (see press release of March 20, 2019).
- Favourable geology characterized by metasedimentary and mafic to intermediate volcanic formations crosscut by several small granitic intrusions; the fertile nature of these intrusions for mineralization may be revealed by the polymetallic footprint present on the Project.
- Favourable structural context with a kilometre-scale Z-fold that may have acted as a trap for mineralization.
Past exploration on the Project is very limited. An adjacent property, jointly held by Osisko Baie James and Goldcorp Inc., hosts several significant gold prospects about 5 km southwest of the Project, notably the Marco Prospect (1.07 g/t Au over 27.0 m and 10.1 g/t Au over 5.2 m) and the Contact West Zone (11.82 g/t Au over 4.7 m).
This press release was prepared by Dr. Jean-Marc Lulin, P.Geo., acting as Azimut's qualified person under National Instrument 43-101.
Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a proprietary pioneering approach to big data analytics (the AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut holds a strategic position for gold and base metals in Quebec totalling 26 properties. Azimut maintains rigorous financial discipline and has 53 million shares outstanding.
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, [email protected], www.azimut-exploration.com