Symbol: AZM.TSX Venture
LONGUEUIL, QC, June 27, 2019 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) is pleased to announce it has started the
2019 exploration program on the Munischiwan Property (the
"Property") in the James Bay
region of Quebec (see Figure 1).
This phase of work mainly consists of detailed surface sampling on
the InSight Discovery to prepare for the first diamond
drilling program later this year.
The Property is jointly owned with SOQUEM Inc.
("SOQUEM"), under a Strategic Alliance covering the James Bay region. Major new developments of
the alliance were disclosed in the Company's press release of
May 15, 2019.
The InSight Discovery is currently defined as a 600-metre
by 150-metre envelope based on outcropping mineralization. Grab
samples yielded up to 100.5 g/t Au, 435 g/t Ag, 156 g/t Te
and 1.67% Cu. Grab samples are selective by nature and
unlikely to represent average grades. Mineralization is mostly
composed of disseminated chalcopyrite, quartz veins and quartz
veinlets hosted in foliated metasediments with strong biotite
alteration (see press releases of October
25, 2018 and December 5, 2018)
(see Figure 2).
The results of an induced polarization ("IP") survey recently
completed over this area (see press release of April 30, 2019) indicate a 300-metre by at least
1,000-metre coincident IP anomaly striking NNW-SSE (the "InSight
Target Zone"). Other IP anomalies, subparallel to and/or on
strike with the InSight discovery, constitute highly prospective
targets within a trend at least 3 kilometres long by 1
kilometre wide.
Other prospects discovered during the 2018 prospecting program,
including the Soga Prospect (up to 2.53% Cu, 9.0
g/t Ag in grab samples) hosted in mafic intrusives, will be
subject to additional work.
The Property (167 claims, 87.5 km2) is located about
85 kilometres east of the Cree community of Eastmain in an area serviced by excellent
infrastructure including permanent roads, power grids and airport
facilities. Azimut is the operator of the current program.
This press release was prepared by Jean-Marc Lulin, P.Geo., acting as Azimut's
qualified person under National Instrument 43-101.
About SOQUEM
SOQUEM, a subsidiary of Ressources Québec, has a mission to
encourage the exploration, discovery and development of mining
properties in Quebec. SOQUEM also
contributes to maintaining strong local economies. Proud partner
and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on
innovation, research and strategic minerals to be well positioned
for the future.
About Azimut Exploration
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 maintains
rigorous financial discipline and has 53.3 million shares
outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec. Azimut's edge against
exploration risk is founded on systematic regional data analysis
and multiple concurrently active projects.
www.azimut-exploration.com
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.