Symbol: AZM.TSX Venture
LONGUEUIL, QC, March 14, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") (TSXV: AZM) is pleased to announce the start of a helicopter-borne magnetic and electromagnetic survey on the Munischiwan gold property, jointly owned with SOQUEM. Munischiwan was acquired within the framework of the Strategic Alliance with SOQUEM, which covers the James Bay–Eeyou Istchee Territory of Quebec (see press release of September 26, 2016).
The Munischiwan property (120 claims, 62.9 km2) is located about 85 kilometres east of the Cree community of Eastmain, in an area serviced by road, power and airport infrastructure. Geologically, the project is situated in the La Grande Subprovince of Archean age and covers part of the Lower Eastmain volcano-sedimentary belt. It is marked by an arsenic-silver-bismuth-copper-antimony geochemical anomaly in lake-bottom sediments. A gold prospect (3.57 g/t Au in a quartz-pyrrhotite vein) located 0.8 kilometre from the property boundary is on strike with this anomaly. The regional magnetic data indicates structural complexities that may have acted as traps for gold mineralization.
The helicopter-borne magnetic and VTEMTMPlus electromagnetic survey will consist of 838 line-kilometres with 100-meter-spaced lines. Geotech Ltd, a firm based in Aurora, Ontario that specializes in airborne geophysical surveys, will perform the survey. This phase of work is funded by SOQUEM.
SOQUEM, a subsidiary of Investissement Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
Azimut is a mineral exploration company with its core business centred 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.
This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under National Instrument 43-101.
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