Symbol: AZM.TSX Venture
LONGUEUIL, QC, Oct. 3, 2018 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) is pleased to report that SOQUEM has
decided to add the Galinée and Dalmas properties to its Strategic
Alliance with Azimut ("the Alliance") covering the
James Bay region in Quebec. The Alliance is dedicated to gold
exploration following a predictive mineral potential modelling
performed by Azimut over 176,300 km2. The projects
selected by SOQUEM under the terms of the Alliance (see press
release dated September 26, 2016) now comprise six properties
totalling 2,144 claims (1,104 km2). The James Bay region offers quality infrastructure
and is one of the most active regions for gold exploration in
Canada (see Figure).
As previously announced (see press release dated June 6, 2018), a substantial $1.5 million exploration program, funded by
SOQUEM, was conducted this summer and fall on the projects of the
Alliance. Azimut is manager of the work program.
The six properties part of the Alliance are the following:
Galinée (658 claims), Dalmas (88 claims),
Munischiwan (159 claims), Pikwa (435 claims),
Pontois (441 claims) and Desceliers (363 claims). In
addition, three other projects are also subject to preliminary
field reconnaissance programs under the Alliance: Corvet (72
claims), Synclinal North (46 claims) and Synclinal
South (54 claims). The work completed to date
comprises:
- 1,397 rock grab samples from surface prospecting;
- 153 till samples and 49 soil samples;
- Mechanized trenching (at Munischiwan); and
- 1,017 line-km of helicopter-borne magnetic, electromagnetic and
spectrometric surveys (at Desceliers).
The results will be announced on a timely basis.
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's qualified
person under National Instrument 43-101.
SOQUEM, a subsidiary of Ressources Québec, is a leading
player in mineral exploration in Québec. Its mission is to explore,
discover and develop mining properties in Québec. SOQUEM has
participated in more than 350 exploration projects and contributed
to major discoveries of gold, diamonds, lithium and other
minerals.
Azimut is a mineral exploration company whose core
business is centred on target generation and partnership
development. Targeting is performed using a pioneering proprietary
approach to Big Data analytics, enhanced by extensive exploration
know-how. The Company maintains rigorous financial discipline. It
has 48.5 million shares outstanding.
Azimut holds a strategic position for gold and base metals in
Quebec, including one of the
largest exploration portfolios in the James Bay region (22 properties covering 4,651
claims or 2,417 km2).
SOURCE Azimut Exploration Inc.