Symbol: AZM.TSX Venture
LONGUEUIL, QC, June 21 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") is starting a $1.8-million exploration program on its wholly owned REX property, a project with excellent polymetallic exploration potential most notably for copper and rare earth elements (REE). The objective of the 2010 summer program is to validate the overall potential of the property through surface prospecting supported by systematic geophysical and geochemical surveys.
Azimut's management believes that key features of the REX property suggest a discovery potential for an Iron Oxide Copper Gold ("IOCG") deposit type. The IOCG deposit type encompasses a wide spectrum of ore bodies, often polymetallic and of significant size, which may notably produce iron, copper, gold, uranium, silver, cobalt and REE. The best known IOCG deposit is the giant Olympic Dam mine in Western Australia (see press release dated March 4, 2010).
The 2010 summer program includes the following:
- An airborne magnetic and spectrometric geophysical survey totalling
13,400 line-km with 200-m-spaced lines over a distance of 100 km; the
contract has been granted to Novatem Inc. based in Mont-Saint-Hilaire,
- A detailed lake-bottom sediment geochemical survey (about 2,200
samples); this contract has been granted to Geo Data Solutions Inc.
(GDS) based in Laval, Quebec; and
- Comprehensive surface prospecting to be carried out by Azimut's
The REX property is located approximately 130 km east of Hudson Bay and the shoreline community of Puvirnituq in Nunavik, Northern Quebec. The property is 100 km long in a north-south direction and comprises 3,966 claims over a surface area of 1,692 km2. The region is largely under-explored. Azimut previously reported on several historical prospects (notably for gold, silver, copper and cobalt) that have been identified within the property limits (see press release dated December 4, 2009).
This press release was prepared by geologist Jean-Marc Lulin, Ph.D., P.Geo., acting as Azimut's Qualified Person under NI 43-101. Azimut is a mineral exploration company using cutting-edge targeting methodologies to discover major ore deposits. In 2010, a minimum of $6 million will be invested on Azimut's properties, including $4 million funded by its partners. This includes exploration programs for gold (REX South, Wabamisk, Eleonore South), copper-REE (REX, Diana), uranium (North Rae) and chromium (Eastmain West).
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: For further information: Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015, Fax: (450) 646-3045, firstname.lastname@example.org; www.azimut-exploration.com