Symbol: AZM.TSX Venture
LONGUEUIL, QC, Nov. 30, 2017 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce that its partner Goldcorp Inc. (TSX: G, NYSE: GG) is starting a heliborne geophysical survey on the Wabamisk Property located in the James Bay region, Quebec.
The SkyTEM electromagnetic survey with a line spacing of 100 metres, and a total coverage of 3,322 line kilometres, will be performed by Geo Data Solutions Inc. based in Laval, Quebec. The objective is to enhance target definition on the project by delineating high-quality conductors. The $325,000 budgeted for this phase of work is funded by Goldcorp.
The Wabamisk Property hosts numerous gold prospects in a geological setting comparable to Goldcorp's major Eleonore gold deposit about 70 km to the north. Wabamisk is 40.5 km long and comprises 487 claims covering a surface area of 258 km2. It is held 51% by Goldcorp and 49% by Azimut. Goldcorp has the option to earn an additional 19% interest on the Property by completing a feasibility study.
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under National Instrument 43-101.
Azimut Exploration is a mineral exploration company whose core business is centred on target generation and concurrent partnership development. Targeting is performed using a pioneering proprietary approach to Big Data analytics, enhanced by extensive exploration know-how.
Azimut holds a strategic position for gold and base metals in Quebec, including one of the largest exploration portfolios in the James Bay region (21 properties covering 4,135 claims or 2,116 km2).
The Company maintains rigorous financial discipline. It has 45.4 million shares outstanding. Azimut's 2017 exploration budget is $6.3 million, 77% of which is funded by partners.
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 Chief Executive Officer, Tel.: (450) 646-3015, Fax: (450) 646-3045, [email protected]; www.azimut-exploration.com