LONGUEUIL, QC, Jan 22, 2016 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or"the Company") (TSXV: AZM) reports that significant results have been recently released by Sirios Resources Inc. ("Sirios" ) (TSXV: SOI) on its Cheechoo gold property, located immediately adjacent to Azimut's Eleonore South and Opinaca B properties in the Eleonore Camp, James Bay region, Quebec. Data released so far suggests a strike extension of the Cheechoo discovery onto the Eleonore South property (see appended figure).
Based on public information, the gold-bearing drilling results reported for the Cheechoo property are located as close as 50 metres from the boundary of the Eleonore South property. Sirios conducted drilling programs from 2012 to 2015 within a broad NW-SE area measuring 1,100 x 350 metres. The significant 2015 drilling results reported by Sirios include:
- Hole 15-20: 15.61 g/t Au over 9.70 m and 15.04 g/t Au over 12.35 m
- Hole 15-24: 4.18 g/t Au over 20.0 m
- Hole 15-26: 1.00 g/t Au over 33.0 m
- Hole 15-28: 2.96 g/t Au over 31.5 m
Azimut considers that the Eleonore South property displays strong potential to host a strike extension of the Cheechoo discovery. This portion of the property, which contains previously reported gold mineralization, remains largely underexplored. Eleonore South is a joint venture between Azimut, Les Mines Opinaca Ltée, a wholly-owned subsidiary of Goldcorp Inc., and Eastmain Resources Inc. The last exploration program performed on the property by Eastmain, as operator, dates back to 2013.
The Opinaca B property is located about 4 km east from the drilled area on the Cheechoo property. Hecla Quebec Inc., a wholly-owned subsidiary of Hecla Mining Company, has the option to earn up to a 60% interest from Azimut and Everton Resources Inc., each company currently owning a 50% interest. A diamond drilling program has been proposed for 2016 to test several high priority targets on the property (see press release dated November 25, 2015).
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 the objective of discovering major ore deposits. The Company's core business is project generation using cutting-edge targeting methodologies, concurrently with partnership development.
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