Symbol: AZM.TSX Venture
LONGUEUIL, QC, Nov. 19, 2012 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) announces that its partner Aurizon Mines Ltd ("Aurizon") (TSX: ARZ) identified several new gold targets on the Opinaca A & B properties in 2012. The upcoming 2013 work program will include a diamond drilling phase. The Opinaca A & B properties are located near Goldcorp's Eleonore gold mine under construction in the James Bay region of Quebec (see figure appended to press release dated June 12, 2012).
Aurizon recently informed Azimut it will renew its option for a second year on the Opinaca A & B properties, which are subject to a three-way agreement with Everton Resources Inc (TSXV: EVR) (see press release dated September 16, 2010). Azimut and Everton each currently hold a 50% interest in the properties.
Aurizon's extensive 2012 program comprised:
- 622 line-kilometres of helicopter-borne magnetic-EM survey
- 684 soil samples
- 243 rock grab samples
- 290 rock channel samples from 258.35 metres of channels
- 93 till samples
The main results are the discovery of three significant outcropping targets on the Opinaca B property: the D8, Eric and Penelope prospects. These targets, located along an east-west structure at the boundary between the Opinaca and La Grande geological subprovinces, share geological similarities with the Eleonore deposit.
The D8 trench displays a 20-metre-wide sheared and altered sedimentary unit with amphibolite and quartz-tourmaline veinlets. Best channel sampling results include 2.3 g/t Au over 1.0 metre and 0.55 g/t Au over 4.0 metres. This area presents gold anomalies in soil and till.
Located less than 1 kilometre north of D8, eight bedrock samples returned values above 0.1 g/t Au, including two above 0.5 g/t Au. The gold-bearing samples were collected within a kilometre-scale arsenic-gold soil geochemistry target. Mineralization is typically related to calc-silicate altered sediments and arsenopyrite-tourmaline-bearing pegmatites.
Located about 1 kilometre west of the Eric and D8 targets, ten bedrock samples returned values above 0.1 g/t Au, including four with values above 0.5 g/t Au up to 4.26 g/t Au. Mineralization is associated with quartz-tourmaline veins and veinlets.
The work performed over both properties, including till sampling and a helicopter-borne magnetic-EM survey, will be used to further define drilling targets. The results are currently being evaluated. The Smiley prospect (at Opinaca A) and the Claude prospect (at Opinaca B), both discovered during previous programs, are still considered very attractive drilling targets.
Rock samples were sent to ALS Minerals in Val-d'Or, Quebec, for assay using an ICP method. Soil samples were sent to SGS Minerals Services in Toronto, Ontario, for MMI analysis. The helicopter-borne survey was performed by Fugro Airborne Surveys based in Mississauga, Ontario. Martin Demers, P.Geo., Aurizon's Exploration Manager and a qualified person as defined by National Instrument 43-101, reviewed the data disclosed in this release. This press release was prepared by geologist Jean-Marc Lulin, P.Geo., acting as Azimut's qualified person under National Instrument 43-101.
Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is project generation using cutting-edge targeting methodologies, along with partnership development. Azimut holds the largest mineral exploration portfolio 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.
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