Symbol: AZM.TSX Venture
LONGUEUIL, QC, Aug. 9 /CNW Telbec/ -Azimut Exploration Inc. ("Azimut")
and Everton Resources Inc. ("Everton") announce the discovery of a new
mineralized zone grading up to 24.6 g/t Au on Opinaca A property and the
identification of additional targets along the Claude-Manuel corridor on
Opinaca B property, in the Opinaca region of James Bay near Goldcorp's
Eleonore gold deposit (initial indicated gold resource of 2.8 million ounces).
At the beginning of September, a 2,000-meter drill program is scheduled to
commence at the Smiley Target on Opinaca A, approximately 4 km north of the
Eleonore gold deposit.
Follow-up prospecting and sampling carried out this summer has led to the
discovery of the Charles Target on Opinaca A where anomalous to high grade
rock chip sample values ranging from 0.1 to 24.6 g/t Au were returned over an
area of at least 500 m long by 100 m wide. Results of 92 rock chip samples and
3 boulder samples collected within the mineralized zone are as follows:
- 10 samples yielded values higher than 1.0 g/t Au, including
values of 24.6 g/t Au, 16.7 g/t Au, 2.4 g/t Au, 1.6 g/t Au,
1.4 g/t Au and 1.3 g/t Au. Visible gold was observed on the
outcrop where the 16.7 g/t Au sample was collected;
- 7 samples returned values ranging from 0.5 to 1.0 g/t Au;
- 15 samples returned values ranging from 0.1 to 0.5 g/t Au; and
- 63 samples returned values less than 0.1 g/t Au.
An additional 66 samples have been collected and their results are
The Charles Target is a northeast-southwest trending mineralized zone
located in the central part of Opinaca A. The Charles Target consists of
garnet and sulphide-rich, chloritized and silicified metasediments in contact
with pegmatitic intrusions. The mineralization is composed of up to 20% pyrite
and arsenopyrite with minor pyrrhotite and chalcopyrite associated with garnet
and chlorie-rich zones.
Another gold showing located 5 km southeast of the Charles Target was
also discovered. Preliminary results returned 3.9 g/t Au in metasediments
cross-cut by pegmatite veins.
Comprehensive prospecting and rock sampling along the 10-km Claude-Manuel
corridor has identified additional targets on Opinaca B. Several rock samples
collected along that corridor returned significant gold values over a strike
length of 3 km grading up to 6.1 g/t Au, 4.5 g/t Au, 1.7 g/t Au and 1.2 g/t
Au. The mineralization contains up to 5% pyrite and is associated with
silicified and chloritized metasediments with quartz and pegmatite veins.
To follow up geochemical anomalies and to identify new exploration
targets, an extensive trenching program is currently performed by Everton on
the 10-km Claude-Manuel corridor between Azimut's Claude Target (optioned by
Everton) and the Manuel Showing (12.0 g/t Au over 4.6 m), which is on
Everton's Wildcat 5 property.
Everton has the option to earn from Azimut a 50% interest on the Opinaca
A and B properties and may earn an additional 15% interest upon delivery of a
bankable feasibility study. Everton is the project operator.
Fieldwork is performed under the supervision of Marc L'Heureux, P. Geo.
and VP Exploration of Everton, who acts as Everton's Qualified Person as
defined by NI 43-101. Samples were assayed by Laboratoire Expert Inc. of
Rouyn-Noranda, Quebec. This press release was prepared under the supervision
of Marc L'Heureux and reviewed by geologist Jean-Marc Lulin, the company's
Qualified Person as defined by NI 43-101.
Azimut is a mineral exploration company using cutting-edge targeting
methodologies to discover major ore deposits. Partner-funded 2007 programs
focused on Azimut's gold, uranium or nickel properties in Quebec, aggregate a
minimum of $12.7 million in exploration work.
The TSX Venture Exchange (TSX Venture) 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, (450) 646-3015, Fax:
(450) 646-3045, firstname.lastname@example.org, www.azimut-exploration.com