Symbol: AZM.TSX Venture
LONGUEUIL, QC , April 14, 2021 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to provide an update for the 15,000-metre (60 holes) diamond drilling program underway on the Company's 100% owned Elmer Property (the "Property") in the James Bay region of Quebec ( see Figures 1 to 4 ).
Since early February, Azimut has drilled 16 holes totalling 4,836 metres to expand the Patwon gold discovery on the Property. This delineation phase (10,000 metres, 30 holes) is designed to extend the discovery along strike and to a depth of 350 metres using a systematic 50-metre-spaced drilling pattern. The Patwon Zone is a steeply dipping mineralized body currently defined over a strike length of 500 metres, a depth of 250 metres and a true width of up to 80 metres ( see press release of November 30, 2020 ). Preliminary visual observations of the drill core are comparable to descriptions of previous holes, particularly the quartz veining, pyrite mineralization, strong alteration and native gold grains.
A second drill rig was mobilized this week to start testing 10 quality targets in the Patwon Zone vicinity with 5,000 metres in 30 holes. The targets, located in a priority corridor 8 kilometres long by 3 kilometres wide, were defined and ranked based on the spatial coincidence of the following parameters ( see press release of March 18, 2021 ):
- Prospecting data, including high-grade undrilled gold prospects
- Induced polarization anomalies
- Gold clusters in glacial sediments
- Interpreted shear zones
The drilling program is expected to be completed by mid-June. Approximately 3,100 core samples have already been sent to AGAT Laboratories in Mississauga ( Ontario ) for assaying. Drilling results will be released regularly.
The Elmer Property
The Elmer Property comprises 515 claims covering 271.3 km 2 over a 35-kilometre strike length. The Property is 285 kilometres north of Matagami , 60 kilometres east of the village of Eastmain , and 5 kilometres west of the paved James Bay Road, a major all-season highway. The region benefits from quality infrastructure, including significant road access, a hydroelectric power grid and airports.
Dr. Jean-Marc Lulin , P.Geo., prepared this press release as Azimut's Qualified Person under National Instrument 43-101. The field program is managed by François Bissonnette, P.Geo., Operations Manager and Simon Houle , P.Geo., Chief Geologist. Both have reviewed the content of this press release.
About Azimut
Azimut is a mineral exploration company whose core business centres on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine TM expert system), enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 69.2 million shares outstanding. Azimut's competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.
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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