Jean-Marc Lulin's
Azimut Exploration Inc. (
AZM) lost three cents to 54 cents on 140,000 shares on word it has "cut an outstanding interval" grading 1.62 per cent lithium oxide across 158 metres at its Galinee project in the James Bay district of Quebec. The headline hit included a high-grade section nearly 90 metres long that averaged 2.2 per cent lithium oxide -- and within that enhanced zone was a 29.6-metre stretch that averaged 3.33 per cent.
That hole was the best, but it was not an aberration. Several other holes in the 2024 drill program returned encouraging grades with significant intervals, all of them augmented by higher-grade portions. A second hole averaged 1.66 per cent lithium oxide over 40.45 metres, with a 21.6-metre portion grading 2.61 per cent. A third test managed 2.53 per cent lithium oxide over 25.9 metres, with a 19.8-metre portion grading 3.16 per cent.
The results of this 14-hole, 3,200-metre phase II program at Galinee "confirm a wide and high-grade lithium zone on the property," cheered Azimut and Mr. Lulin, its president and CEO -- bolding the comment to rivet investor eyeballs upon the corporate enthusiasm. That enthusiasm concluded with another bolded -- if not bold -- statement that describes Galinee as "one of the most significant lithium pegmatite discoveries in the James Bay region." And so, the company and its 50-per-cent partner, Soquem Inc. have declared the project one of their top priorities for 2024.