Azimut Exploration Inc V.AZM

Pikwa

[chintzy]

This is becoming a mystery drama...what could explain this delay? Kaiser was right to bite AZM in the rear. He can apologize later if good results come out with an explanation that makes it all make sense. The delay could easily be associated with a discovery. We get pissed off by an unexplained delay and it causes us to assume to the negative when we actually have no way of knowing. JML is a methodical, unemotional, scientific guy so there is likely a good explanation for this. it is unlikely the reason is that they are lazy, disorganized, stupid, or aholes who don't care about shareholders. If the results were a major disappointment I think they would have published that then continued the focus on Elmer, not a big deal, get it done with and bear down on the flagship project. There is at least an equal chance that the delay is associated with good news. Look at all of these survey, testing, data-based indications flashing positive and the clues from Mythril. What are the chances it's an illusion and there's actually nothing there - low I'd say.

Copperfield East is defined as the spatial association of:

1. A strong regional-scale copper anomaly in lake-bottom sediments ("LBS") centred over the Property. The footprint also includes polymetallic components (molybdenum, silver, bismuth and tungsten).
2. A strong copper-in-soil anomaly with a polymetallic footprint comparable to the LBS anomaly defined above. The anomaly forms a well-delineated target 5.5 kilometres long by 500 metres wide (locally up to 750 m) within the contours of the LBS copper anomaly. Peak values are 294 ppm for copper, 0.161 ppm for gold, 0.584 ppm for silver and 42.1 ppm for molybdenum.
3. A 10-kilometre-long corridor of IP-chargeable anomalies of moderate to strong amplitudes superimposed on the copper-in-soil anomaly. Most IP-chargeable anomalies correspond to resistivity highs or occur along the contacts of more resistive units (probably more silica-rich units). The anomalies are subcropping, continuous at depth, and generally dip moderately to steeply to the south.
4. Two 500-metre-long VTEM conductors that correlate with IP anomalies. In this context, the VTEM anomalies represent attractive targets for massive to semi-massive sulphide mineralization despite the weak soil geochemistry footprint due to thick glacial sediment cover.
5. A significant mineralized boulder field of mostly angular to slightly rounded boulders that follows the long axis of the soil anomaly. The best grades from 141 sampled boulders were 20.1% Cu, 2.99 g/t Au, 58 g/t Ag and 0.24% Mo.
6. Several high-grade mineralized outcrops within the soil anomaly in the eastern part of the target where glacial sediment cover is thinnest. The best grades are 9.81% Cu, 13.45 g/t Au and 37.6 g/t Ag (grab sample A0366271).

Collectively, the IP anomalies, copper-in-soil anomaly and mineralized boulder field are best explained by a major Cu-Au-Ag-Mo mineralized system in the bedrock of the Property (already partly identified in mineralized outcrops). Grab samples are selective by nature and unlikely to represent average grades.

[Frank2015]

Chintzy, very good post! Well thought and structure! But I am afraid that this is whishful thinking. All the sign points to initial results that were not to the standard the company was looking for. The drilling plan this year is clear and it does not include Pikwa. From the corporate corporation, Elmer, Rex, Munischwan seem to be the priority. Not a word on Pikwa.  My thoughts are that

[BobMabena]

Frank, I suspect you are right.  I had an exchange with JML regarding Pikwa around a month ago and he essentially said their efforts and enthuisiam lie with the Elmer discovery and that is what I should get excited about because they are.   He did allude to delays in assays but more or less avoided any Pikwa discussion.    My guess is the results are unexciting or

[Frank2015]

Bob, maybe there is something of that sort, a deal with someone else...BHP has a stake in Pikwa next door neighboor Midland-Mytrill...but it all points to Pikwa not being a short term priority. For what it matter, I believe Md/BHP has some work plan starting in june on Mytrill (from this winter press release so one has to wait confirmation)

[Frank2015]

From Midland february 9th press release:  "Midland is currently finalizing the details and logistical planning of a drilling campaign totalling more than 2,500 metres, scheduled to begin in June 2021. " But again, I must emphasize that I don't believe Pikwa is relevent short term to the value of this company. The key is Elmer and those targets extra-Pawton...one question to

[chintzy]

I can't argue Frank - too many indications that Pikwa is not a priority anymore, as you demonstrated, so it is most likely a bust. Elmer gives us 5-15x upside. I'll take that as consolation.

[chintzy]

I'm reversing this comment - Pikwa is NOT a bust as JML stated today: "it is a good project" "we are organizing results" "there are many untested targets" "there is more drilling to be conducted". Positive news is still to be released at Pikwa.