Symbol: AZM.TSX Venture
LONGUEUIL, QC, March 1, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") (TSXV: AZM) is pleased to announce that the second phase of a 5,000 m diamond drilling program has started on the Eleonore South JV Property in the James Bay region of Quebec. This drilling phase, totalling 2,500 m will test gold targets along a corridor 4 km long by 500 m wide to the east of the JT Prospect and on strike of the Sirios Resources Inc. Cheechoo discovery (see attached figure).
The Phase 2 drilling program has three (3) objectives:
- Follow up on encouraging results obtained within an altered tonalite intrusive in the corridor during the Phase 1 program. Results include:
- 76.1 g/t Au over 1.55 m (hole ES16-57);
- 4.57 g/t Au over 2.7 m and 0.59 g/t Au over 28.5 m (hole ES16-55);
- 0.62 g/t Au over 79.1 m including 5.0 g/t Au over 4.0 m (hole ES16-51)
- Test the eastern extension of the corridor along the tonalite-metasedimentary contact, immediately south of Cheechoo; and
- Test the western extension of the corridor toward the JT Prospect.
The targets are defined by a combination of drilling and prospecting results, elevated gold-arsenic soil anomalies and reprocessed magnetic data.
The prospective corridor on the Eleonore South Property is interpreted as a late-stage hydrothermal-magmatic mineralized system emplaced along the margins of the tonalite intrusion, close to or at the contact with surrounding metasediments (see Phase 1 location and results in the press release of November 21, 2016).
The Eleonore South Property is a three-way joint venture between Azimut, Eastmain Resources Ltd (TSX: ER) and Les Mines Opinaca Ltée, a wholly-owned subsidiary of Goldcorp Inc. (TSX: G; NYSE: GG). Ownership in the property is as follows: Azimut 26.6%, Eastmain 36.7% and Goldcorp 36.7%. Azimut is the operator of the current program.
This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under National Instrument 43-101.
Azimut is a mineral exploration company with its core business centered on target generation and concurrent partnership development. Targets are identified using advanced processing of large geoscientific databases enhanced by extensive exploration know-how. Azimut holds a strategic position for gold and base metals 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, [email protected], www.azimut-exploration.com