Symbol: AZM.TSX Venture LONGUEUIL, QC, April 4, 2012 /CNW Telbec/ -
Azimut Exploration Inc ("Azimut") reports that its partner Aurizon
Mines Ltd ("Aurizon") obtained encouraging results following a
major exploration program performed in 2011 on the Rex South
property. At least 30 mineralized zones and prospects were
discovered or extended. Channel sampling and first-phase
reconnaissance drilling on the Augossan Zone returned numerous
mineralized intercepts which merit further follow-up. The 2012
field program is currently being prepared. The Rex South property
presents evidence of an extensive intrusion-related
porphyry/greisen-type polymetallic mineralized system
(Au-Ag-Cu-W-Sn-Bi) and Iron Oxide Copper Gold mineralization. The
project is part of a 330-km-long emerging polymetallic province
largely controlled by Azimut. The geological and mineral context of
this region displays comparable features with the world-class
Carajás Mineral Province in Brazil. Highlights include (see 3
appended figures): Augossan Zone (7-km trend) The Augossan Zone
appears as a very large polymetallic envelope at the contact
between a granitic intrusion (the Qalluviartuuq Intrusive Complex;
"QIC") and volcano-sedimentary host rocks. Drilling, channelling
and prospecting data delineate a 7-km-long by up to 400-m-wide
mineralized trend containing an association of gold (Au), silver
(Ag), copper (Cu), tungsten (W) and tin (Sn). Other commodities of
interest are bismuth (Bi), tantalum (Ta), beryllium (Be), rubidium
(Rb), molybdenum (Mo), rhenium (Re), tellurium (Te) and lithium
(Li). The Augossan Zone is open in all directions, notably toward
the granitic intrusion. Significant drilling will be required to
establish continuity, in terms of grades and geometry, for the most
prospective areas within this envelope. True widths of drilling
intervals are estimated to be approximately 75% to 100% of core
length. Channels are cut at 90 degrees to the apparent orientation
of mineralization. From north to south, the most significant
channel (CH-) and drilling (RS-) results include: CH-11-16B: 13.75
g/t Au, 15.8 g/t Ag and 0.23% Cu over 1.1 m CH-11-16C: 3.44 g/t Au,
11.45 g/t Ag, 0.23% Cu over 1.2 m 0.14% W over 15.24 m (from 6.10
to 21.34 m), incl. 4.20 RS-11-40: g/t Ag, 893 ppm Bi, 0.12% W,
0.35% Cu over 7.62 m (from 13.72 to 21.34 m) RS 11-33: 0.20% W over
4.57 m (from 80.16 to 84.73 m) RS 11-28: 1.28 g/t Au, 8.41 g/t Ag,
0.12% Cu, 165 ppm Be, 118 ppm Sn over 6.1 m (from 22.86 to 28.96 m)
RS-11-29: 1.72 g/t Ag, 0.10% Cu over 9.14 m (from 42.67 to 51.81 m)
RS-11-23: 1.10 g/t Au, 2.60 g/t Ag over 9.14 m (from 33.53 to 42.67
m) RS-11-22: 2.84 g/t Ag, 0.56% W, 0.11% Cu over 1.52 m (from 10.67
to 12.19 m) RS-11-17: 1.9 g/t Ag, 0.13% Cu over 10.67 m (from 27.43
to 38.10 m) RS-11-15: 0.41% W over 1.52 m (from 71.63 to 73.15 m)
CH-11-04: 3.11% W over 1 m CH-11-05: 3.15 % W over 1 m; 225 ppm Ta
over 10 m; 0.17% Li, 0.16% Rb over 12 m CH-11-08 A: 7.53% Sn, 0.72%
W, 346 ppm Ta, 0.14% Cu over 2.7 m CH-11-01 B: 0.64% W over 3 m
Anorthosite Zone (4-km trend) The Anorthosite Zone is located on
the western side of the QIC. A few reconnaissance holes and
prospecting data have outlined, in a preliminary manner, a
4-km-long by 200-m-wide mineralized envelope with Au, Ag, Cu, W and
Te mineralization (see Figures 1 to 3). A strong exploration
potential exists for the area between the Anorthosite Zone and the
Ferrus Prospect (Ag, Cu, W, Sn, Mo, Re, Bi, Rb), located 5 km to
the north. Copperton Zone (3-km trend) The Copperton Zone, located
about 5 km southeast of the Anorthosite Zone, is hosted by sheared
intrusive rocks with chalcopyrite, native copper and pyrite
mineralization. Grab sample assays include: -- 7.87 g/t Au, 82.7
g/t Ag, 9.28% Cu, 38.4 g/t Te -- 3.0 g/t Au, 12.0 g/t Ag, 2.72% Cu,
3.2 g/t Te -- 2.32 g/t Au, 5.7 g/t Ag, 1.17% Cu, 1.48 g/t Te --
2.47 g/t Au, 5.2 g/t Ag, 0.67% Cu, 2.16 g/t Te -- 1.0 g/t Au, 0.55%
Cu -- 2.19% Cu, 1.35 g/t Te Aura-Pegor Zone (2-km trend) The
Aura-Pegor area is characterized by disseminated pyrite and strong
alteration, including tourmaline in veinlets or stockworks
accompanied by silica and albite. Grab sample assays include 15
samples with grades ranging from 0.5 g/t Au to 11.75 g/t Au. In
addition, this zone presents anomalous values in copper (up to
0.37% Cu), tungsten (up to 0.06% W), bismuth (up to 0.14% Bi) and
tellurium (up to 34 g/t Te). Jemima Zone (2-km trend) The Jemima
Zone forms a 30- to 100-m-wide mineralized corridor characterized
by disseminated to semi-massive chalcopyrite and bornite associated
with hematite-magnetite in veins, veinlets or as breccia cement,
accompanied by strong pervasive potassic alteration, silica,
chlorite and epidote. Mineralization and associated alteration are
related to a brittle structure that clearly crosscuts the Archean
gneissic country rocks. This may indicate a late or post-Archean
age. Fifteen grab samples had grades ranging from 0.5% to 2.86%
copper, up to 0.17% molybdenum and up to 0.422 g/t rhenium. The Rex
South property demonstrates evidence for two types of
district-scale mineralized systems: 1. A system mainly emplaced
around the 15 km x 5 km ovoid-shaped, fluorite-topaz-bearing
Qalluviartuuq Intrusive Complex (QIC), that includes the Augossan,
Anorthosite and Copperton zones, and the Pegor, Ferrus, Dragon and
Le Breuil prospects. In addition to these known areas of
mineralization, considerable additional exploration potential
exists along the 30-km-long contact between the intrusion and the
volcano-sedimentary host rocks, as well as within the intrusion
itself. This 30-km prospective trend is marked by a linear magnetic
anomaly around the intrusion. The Aura-Pegor trend and the Le
Breuil area, both characterized by abundant tourmaline and lesser
fluorite, may represent a less eroded part of the system (roof
zones?) along the NW and SE extensions of the Augossan trend. 2.
Iron Oxide Copper Gold ("IOCG") mineralization associated with
brittle structures and characterized by copper-dominant values
accompanied by hematite and pervasive potassic alteration,
represented by the Jemima Trend and the Sombrero and Impact
prospects. The Larissa, Agaku-1, Agaku-2, Agaku-4 prospects may
also represent IOCG mineralization (see press release of October
31, 2011). A comparison can be made with the world-class Carajás
Mineral Province in Brazil. This region notably hosts several large
IOCG deposits (Sossego, Salobo, Alemao, Gameleira and Cristalino)
and intrusion-related Cu-Au-(W-Bi-Sn) and W deposits (Breves, Aguas
Claras) associated with anorogenic granite intrusions. The ages for
the Carajás IOCG deposits range from Archean (2.77 Ga) to
Paleoproterozoic (1.73 Ga), and the intrusion-related Breves
deposit is Paleoproterozoic (1.88 Ga). The Breves deposit (50 Mt @
1.22% Cu, 0.75 g/t Au, 2.4 g/t Ag, 0.12% W, 70 ppm Sn, 175 ppm Mo,
and 75 ppm Bi) has a number of features in common with the
Qalluviartuuq mineralized system at Rex South, particularly the
presence of fluorite, tourmaline, chalcopyrite, pyrite,
arsenopyrite, wolframite, cassiterite, bismuthinite and native
bismuth. ___________________________________________________ Work
performed during the 2011 program A total of $4.5 million was
invested in the four-month program funded and operated by Aurizon.
The 2011 program comprised: -- 2,530 rock grab samples; -- 145.35 m
of channel sampling: 16 channels and 149 samples; -- 53 drill holes
totalling 4,934 m and 3,171 drill samples: 4,467 m of standard
rotary percussion drilling ("rotary") and 466 m of reverse
circulation drilling ("RC"); -- Ground geophysics, including 53.9
line-km of induced polarization and 149.5 km of a magnetic survey
covering the Augossan and Anorthosite zones; -- 257 lake-bottom
sediment infill samples to further define targets on the property.
Contracts were awarded to the following Quebec-based companies:
Géophysique TMC Inc in Val-d'Or for ground geophysics; Geo Data
Solutions Inc in Laval for lake-bottom sediment sampling; and
Forages Technic-Eau Inc in Varennes for drilling. The lake-bottom
sediment samples were sent for analysis at Activation Laboratories
in Ancaster, Ontario. Rock samples were assayed by ALS Chemex in
Val-d'Or, Quebec, using an ICP method with check analysis for
tungsten and tin using X-ray fluorescence. Drilling program On the
Augossan Zone, a total of 4,333.20 m in 46 shallow holes (141.7 m
maximum) was drilled on sections spaced 400 m apart, covering a
5.3-km strike-length over induced polarization (IP) anomalies. All
holes have been positioned to intercept a strong IP anomaly with a
width of 50 to 300 metres and an interpreted strike-length of 5 km
previously covered by prospecting (see press releases of November
8, 2010 and February 15, 2011). In addition, 7 reconnaissance holes
totalling 600.80 m were also drilled on the Anorthosite Zone.
Most of the holes were drilled with dips ranging from 45 to 55
degrees to the SW or NE. The operational protocol for drilling and
sampling was as follows: -- Bedrock was sampled using a
heliportable standard rotary percussion drilling rig, working in
conventional (rotary) and RC modes. -- For both drilling modes, the
hole diameter was 88.9 mm (3.5 in) and rock chip samples were
continuously collected every 1.52 m (5 ft), following a sampling
protocol specifically designed for this drilling campaign,
including a QA/QC program. -- In order to minimize the risk of
contamination, the operators followed closely-monitored rock-chip
sampling instructions, including the installation of a steel casing
in the bedrock to prevent physical contact between overburden and
rock-chips, hole cleaning using compressed air between each 1.52-m
drill-run (5-ft rods), and the interruption of drilling in the case
of hole flooding. -- Certified reference material, blanks and field
duplicates were inserted in all drill sample shipments to the
laboratory as part of a strict QA/QC program. Samples at the
exploration site were correctly weighed and split in accordance to
standard practices for RC and rotary drilling. Prospecting results
by commodity The best assays are summarized below, according to
commodity. It should be noted that grab samples are selective by
nature and unlikely to represent average grades on the property. -
Gold 191 samples returned grades above 0.1 g/t Au, including 38
samples ranging from 1.0 g/t to 20.6 g/t Au - Silver 198 samples
returned grades above 1.0 g/t Ag, including 26 samples ranging from
10.0 g/t to 121.0 g/t Ag - Copper 173 samples returned grades above
0.1 % Cu, including 59 samples ranging from 0.5% to 9.28% Cu -
Tungsten 25 samples returned grades above 0.05 % W, including 14
samples ranging from 0.1% to 1,85% W - Tin 17 samples returned
grades above 0.05 % Sn, including 10 samples ranging from 0.1% to
0.34% Sn Several areas also returned significant values for the
following commodities: - Bismuth 47 samples with values ranging
from 0.01% to 0.13% Bi - Molybdenum 43 samples with values ranging
from 0.01% to 0.32% Mo - Rubidium 60 samples with values ranging
from 0.05% to 0.36% Rb In addition, significant values have been
locally obtained for tellurium (up to 78.2 g/t Te), rhenium (up to
1.61 g/t Re), cesium (up to 500 ppm Cs) and beryllium (up to 481
ppm Be). Additional information The Rex South property is located
approximately 145 km southeast of the Hudson Bay shoreline and
the community of Puvirnituq. The property is 58 km long in a
NW-SE direction by 20 km wide. It comprises 2,162 claims
covering a surface area of 942 km(2). Aurizon can acquire an
initial 50% interest in the project by performing a minimum of $5.0
million in exploration work including 5,000 m of diamond drilling
over a five-year period, and an additional 15% interest upon
delivery of a bankable feasibility study (see press release dated
May 26, 2010). 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,
along with partnership development. Azimut holds the largest
mineral exploration portfolio in Quebec, including key gold,
copper, uranium and rare earth element properties. 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.
AZIMUT EXPLORATION INC. CONTACT: Jean-Marc Lulin, President
and CEOTel.: (450) 646-3015 - Fax: (450)
646-3045info@azimut-exploration.com www.azimut-exploration.com
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