Azimut confirms Copper-Gold potential on NCG Property, Nunavik, Northern Quebec
08 Maggio 2012 - 7:11AM
PR Newswire (Canada)
Symbol: AZM.TSX Venture LONGUEUIL, QC, May 8, 2012 /CNW Telbec/ -
Azimut Exploration Inc ("Azimut") reports encouraging exploration
results from the summer 2011 program on its 100%-owned Nunavik
Copper Gold ("NCG") property in Nunavik, northern Quebec. The
program of first reconnaissance work on the NCG project led to the
discovery of at least 20 new prospects with significant gold,
copper, molybdenum and/or tungsten grades. In addition, a detailed
lake geochemical survey identified new high-quality targets. The
2012 field program is currently being prepared. The NCG project
(5,439 claims in 22 blocks; 2,412 km(2)) is spread over a distance
of about 210 km in a roughly north-south direction. It forms
the southern segment of a 330-kilometre trend controlled by Azimut
that includes the Rex and Rex South properties. NCG is located
approximately 190 km southeast of the Hudson Bay shoreline and
the community of Puvirnituq. Work performed during the program
consisted of: -- 746 rock grab samples collected during
property-wide reconnaissance prospecting -- 2,584 lake-bottom
sediment samples collected during an in-fill survey over all claim
blocks Prospecting results Salient prospecting results are as
follows: -- Gold: 63 samples returned grades higher than 0.1 g/t
Au, including 21 samples with grades ranging from 1.0 g/t to 26.1
g/t Au -- Silver: 36 samples returned grades ranging from 1.0 g/t
to 33.8 g/t Ag -- Copper: 21 samples returned grades ranging from
0.1% to 0.66% Cu In addition, values in tungsten (up to 0.77% W),
molybdenum (up to 0.68% Mo) and rhenium (up to 0.27 g/t Re) have
been obtained. Most samples were collected from outcrops or
slightly displaced boulders. Grab samples are selective by nature
and unlikely to represent average grades on the property. Three of
the main prospects identified to date are located in the central
part of the NCG property along a 48-km long gold-(copper-tungsten)
trend. From north to south, they are: -- On the H Block, the Nico
Prospect: 6 samples with grades ranging from 0.73 g/t Au to 3.42
g/t Au; hosted by felsic volcanics -- On the L Block, the NCG West
Prospect: 4.69 g/t Au, 33.8 g/t Ag, 0.61% Cu and 192 ppm Mo (sample
H670760); 0.3% W (sample H670002); 0.12% W (H670044); hosted by
felsic and mafic volcanics. -- On the R Block: 7 samples with
grades ranging from 1.48 g/t Au to 26.1 g/t Au; associated with
pyrite in banded iron formations. In the northern part of the
project (B Block), the Fortin Prospect yielded anomalous gold (up
to 0.4 g/t Au) and copper values (up to 0.31% Cu) associated with a
strongly silicified pyrite-rich rock along a zone 650 metres long.
This sector, which merits additional work, represents additional
evidence of a newly recognized late-stage mineralized event in the
region. In the southern part (Q Block), resampling of the
historical PNAR Prospect (up to 7.9 g/t Au), produced 5 samples
with grades ranging from 0.52 g/t Au to 12.65 g/t Au from a
magnetite iron formation and an intermediate volcanic unit.
Lake-bottom sediment results and new target definition In-fill
lake-bottom sediment geochemistry (average sampling density of 1
sample per square kilometre) confirmed and outlined a giant copper
anomaly previously identified by a government regional-scale survey
(see press release dated March 31, 2011). This regional copper
anomaly led to Azimut's initial acquisition of the NCG Project by
map designation. The new multi-element geochemical results,
combined with regional geologic and magnetic data, were used to
characterize 33 quality targets within 22 different areas,
including some containing 2 or 3 different targets. A few targets
correspond to known prospects discovered during Azimut's previous
exploration program (see descriptions above), but most remain
unexplored. The main target types are as follows: -- 7 copper-only;
-- 6 copper-molybdenum, copper-molybdenum-cobalt, or
copper-molybdenum-rare earths -- 7 gold-only or copper-gold -- 14
nickel-copper or nickel-copper-cobalt Several high metal peaks are
noticeable within these targets, including: values in copper up to
791 ppm Cu, gold up to 472 ppb Au, nickel up to 663 ppm, rare
earths up to 2,323 ppm REE, and molybdenum up to 423 ppm Mo. Geo
Data Solutions Inc in Laval performed the lake-bottom sediment
sampling and the samples were analyzed by Activation Laboratories
based in Ancaster, Ontario. Rock samples were assayed by ALS Chemex
of Val-d'Or, Quebec, using an ICP method. On-site field operations
were managed by Azimut's senior project geologist, François
Bissonnette. 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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