Symbol: AZM.TSX Venture
LONGUEUIL, QC, July 7 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") and Aurizon Mines Ltd. ("Aurizon") are starting a $1.5-million exploration program on the Rex South property, a project with strong exploration potential for gold, copper and rare earth elements (REE). The objective of the 2010 summer program is to validate the overall potential of the property through surface prospecting supported by systematic geophysical and geochemical surveys.
Aurizon can acquire an initial 50% interest in the property by performing $5.0 million in exploration work over a five (5)-year period, and an additional 15% interest upon delivery of a bankable feasibility study (see press release dated May 26, 2010). Azimut will be the operator during the first twelve (12) months.
The 2010 summer program includes the following:
- An airborne magnetic and spectrometric geophysical survey totalling
4,300 line-km with 200-m-spaced lines over a distance of 42 km; the
contract has been granted to Novatem Inc. based in Mont-Saint-Hilaire,
- A detailed lake-bottom sediment geochemical survey (about 700 samples);
this contract has been granted to Geo Data Solutions Inc. (GDS) based
in Laval, Quebec; and
- Comprehensive surface prospecting to be carried out by a joint Azimut-
Aurizon exploration team.
The Rex South property is located approximately 145 km southeast of Hudson Bay and the shoreline community of Puvirnituq in Nunavik, Northern Quebec. The property is 42 km long in a NW-SE direction and comprises 1,345 claims over a surface area of 586 km2. Confirmation of claim registration from the Ministry of Natural Resources and Wildlife of Quebec is pending for 71 of these claims. The region is largely under-explored. Several historical prospects (notably for gold and copper) have been identified within the property limits (see press release dated May 18, 2010).
This press release was prepared by geologist Jean-Marc Lulin, Ph.D., P.Geo., acting as Azimut's Qualified Person under NI 43-101. Azimut is a mineral exploration company using cutting-edge targeting methodologies to discover 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, Tel.: (450) 646-3015, Fax: (450) 646-3045, email@example.com; www.azimut-exploration.com