Symbol: AZM.TSX Venture
MONTREAL, Oct. 9 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut")
provides an update on the field exploration program performed this summer on
its 100% owned North Rae property east of Ungava Bay in northern Quebec. The
operator, NWT Uranium Corp. ("NWT"), can acquire a 50% interest in the North
Rae property by investing $2.9 million in exploration work. NWT may also
acquire an additional 15% interest upon delivery of a bankable feasibility
The status of this summer's work on the property is as follows:
- Collection of 677 surface grab rock samples. A total of
321 rock assay values have been received and 356 are pending;
- Drilling of 8 holes totalling 562 m. The first drilling phase
is now complete and all analytical results are pending;
- 60 line-km of ground radiometric surveying. The survey was
conducted over four grids on the Tasialuk, Tasik, Torrent and
Jonas mineralized zones;
- 1,027 line-km of helicopter-borne radiometric and magnetic
surveying. This geophysical work was an extension of the
2,882 line-km helicopter-borne survey conducted in 2006.
Partial results for 321 of the rock samples are as follows:
- 43 samples returned values higher than 0.05% U3O8,
including 15 samples with values above 0.1% U3O8. The best
values are 0.64% U3O8, 0.27% U3O8, 0.27% U3O8,
0.22% U3O8, 0.19% U3O8, 0.19% U3O8 and
- 121 samples returned values from 0.01% to 0.05% U3O8; and
- 157 samples yielded values less than 0.01% U3O8.
The results are distributed over seven identified mineralized zones as
follows: Aqpiq (2 assays received on 70 submitted samples); Jonas (7 on 65);
Llaluga (16 on 64); Rae-1 (10 on 23); Tasialuk (166 on 198); Tasik (79 on
108); Torrent (32 on 108); other areas (9 on 42). Uranium mineralization is
hosted by granitic pegmatites and gneissic lithologies.
Based on ground radiometric readings, Azimut believes that many
significant rock sample values are still pending. In particular, the Aqpiq and
Jonas zones have radiometric counts that can reach more than 100,000 cps and
50,000 cps respectively. The value of 0.64% U3O8 for sample # 9437, which
corresponds to a radiometric reading of 45,000 cps, was obtained in the Jonas
Zone. The locations of the mineralized zones are shown on the appended figure
Azimut would like to emphasize that key field data has not yet been
received, including the ground radiometric and geological data from the four
detailed grid surveys. These data will allow for a better assessment of the
significance of the rock sampling results reported above. Major additional
work will be required to define the geometry and grade on the seven
mineralized zones already identified.
Azimut considers that the overall information acquired to date on the
North Rae property confirms the existence of regional-scale uranium potential,
including several high-priority targets.
This press release was prepared by geologist Jean-Marc Lulin, the
company's Qualified Person as defined by NI 43-101. Fieldwork was conducted
under the supervision of Réjean Girard, P.Geo., from IOS Services
Géoscientifiques Inc. of Saguenay, Quebec. Rock samples were analyzed by aqua
regia digestion and ICP at the Saskatchewan Research Council (SRC) laboratory
in Saskatoon, which is an ISO-IEC 17025 accredited facility. Geo Data
Solutions Inc. performed the helicopter-borne survey in September, 2007.
Azimut is a mineral exploration company using cutting-edge targeting
methodologies with the objective of discovering major ore deposits. Azimut has
16 active uranium exploration properties optioned to partners in Quebec.
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, (450) 646-3015, Fax: (450) 646-3045, firstname.lastname@example.org;
Normand Champigny, Executive Vice President, (450) 646-3015, Fax: (450)
646-3045, email@example.com; www.azimut-exploration.com