Symbol: AZM.TSX Venture
LONGUEUIL, QC,
Feb. 20, 2014 /CNW Telbec/ -
Azimut Exploration Inc ("Azimut") (TSXV: AZM)
is pleased to announce that its partner Goldcorp Canada Ltd
("Goldcorp") (TSX: G) has begun a targeting phase on
the Wabamisk property, with the objective of defining a new
exploration program for 2014. This follows the discovery in 2013 of
a new prospective area in the western part of the project where
grab samples returned up to 12.45 g/t Au.
The Wabamisk property hosts numerous gold
prospects in a geologic setting comparable to Goldcorp's
world-class Eleonore gold deposit located 70 km to the north (see
map appended to the October 18, 2011
press release). In 2012 and 2013, the work performed by Goldcorp at
Wabamisk included mapping and prospecting (456 grab samples), soil
geochemistry (3,890 samples) and a high-resolution helicopter-borne
magnetic survey (3,502 line-km). These programs led to the
discovery of a new prospective area in the western part of the
property, where prospecting returned 12.45 g/t Au in a quartz vein
grab sample and a soil survey yielded several significant gold
anomalies. These results led to the addition of 36 new claims to
the property.
The project is 44 km long and comprises 680
claims covering a surface area of 360 km2. It is held
51% by Goldcorp and 49% by Azimut. Goldcorp has a maximum of ten
(10) years to complete a feasibility study and earn an additional
19% interest on the property.
Azimut has built a strategic position for gold
in the James Bay region with
Wabamisk and four other properties: Eleonore South
(Azimut-Goldcorp-Eastmain JV), Opinaca A and
Opinaca B (Azimut-Everton JV, Hecla option), and Opinaca D (100%
Azimut). The latter four projects, all in the vicinity of the
Eleonore mine, comprise 1,147 claims covering a collective surface
area of 599-km2. Goldcorp recently announced a
significant increase in reserves at Eleonore (see press release of
February 13, 2014: www.goldcorp.com).
Production at the Eleonore mine is scheduled for late 2014.
This press release was prepared by Jean-Marc Lulin, P.Geo., 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 has the
largest mineral exploration portfolio in Quebec.
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.