Symbol: AZM.TSX Venture
LONGUEUIL, QC, March 28, 2019 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) is pleased to announce it recently acquired
the Kaanaayaa Property (the "Project") to cover an
excellent gold-copper exploration target in the James Bay region of Quebec (see Figure 1). This wholly owned
Project is about 10 km southeast of the Pikwa Property
(Azimut-SOQUEM). Azimut will undertake a detailed lake-bottom
sediment geochemical survey over the Project, followed by a
prospecting phase.
The Project comprises 390 claims (200.5 km2) acquired
by map designation. It has the following notable features (see
Figures 2 to 5):
- Strong regional-scale geochemical footprint in
lake-bottom sediments, combining bismuth, silver, copper,
molybdenum and tungsten; this footprint is comparable to the
signature over gold and polymetallic prospects on the Pikwa
Property (see press release of March 20,
2019).
- Favourable geology characterized by metasedimentary and
mafic to intermediate volcanic formations crosscut by several small
granitic intrusions; the fertile nature of these intrusions for
mineralization may be revealed by the polymetallic footprint
present on the Project.
- Favourable structural context with a kilometre-scale
Z-fold that may have acted as a trap for mineralization.
Past exploration on the Project is very limited. An adjacent
property, jointly held by Osisko Baie James and Goldcorp Inc.,
hosts several significant gold prospects about 5 km southwest of
the Project, notably the Marco Prospect (1.07 g/t Au over
27.0 m and 10.1 g/t Au over
5.2 m) and the Contact West Zone
(11.82 g/t Au over 4.7
m).
This press release was prepared by Dr. Jean-Marc Lulin,
P.Geo., acting as Azimut's qualified person under National
Instrument 43-101.
Azimut is a mineral exploration company whose core
business is centred on target generation and partnership
development. The Company uses a proprietary pioneering approach to
big data analytics (the AZtechMineTM expert
system) enhanced by extensive exploration know-how. Azimut holds a
strategic position for gold and base metals in Quebec totalling 26 properties. Azimut
maintains rigorous financial discipline and has 53 million
shares outstanding.
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.