Symbol: AZM.TSX Venture
LONGUEUIL, QC, June 19, 2017 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce that Hecla Mining Company ("Hecla") (NYSE: HL) has commenced a 2,500-metre diamond drilling program on the Opinaca B Gold Property held by Azimut and its partner Everton Resources Inc. (TSXV: EVR).
The aim of the 7-hole drilling program is to test two targets with strong gold discovery potential: the Dominic area and the Fishhook structure. Hecla greatly improved the definition of these targets during the 2016 program, which included a detailed interpretation of previous magnetic data and comprehensive field work (see press release dated January 23, 2017).
The Opinaca B Property, comprising 248 claims covering 129.7 km2, is situated in a highly prospective part of the Eleonore mining camp where significant drilling results have been recently released for the Eleonore South Property (Azimut-Goldcorp-Eastmain JV) and the Cheechoo Property (Sirios Resources) (see attached figure).
Hecla has the option to acquire a 50% interest in the Opinaca B Property by incurring $6 million in exploration work. This expenditure should be complete by November 2017. Following this first option, Hecla was granted a second option according to the terms disclosed in Azimut's press releases of September 16, 2010 and April 21, 2016.
This press release was prepared by geologist Jean-Marc Lulin, acting as Azimut's Qualified Person under NI 43-101.
Azimut is a mineral exploration company with a 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. The Company has 45.4 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