Symbol: AZM.TSX Venture
LONGUEUIL, QC, Sept. 19, 2019 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) is pleased to announce that substantial
outcropping gold mineralization has been discovered at the
Patwon Prospect on the Company's wholly-owned Elmer
Property (the "Property") in the James Bay region of Québec. A total of 473
channel and grab samples were collected during the summer field
program on the Property, including 281 at Patwon. Initial results
were reported on July 16, 2019. The
next exploration phase, which entails mechanized stripping and a
maiden diamond drilling program, will take place in the fall.
HIGHLIGHTS (Figures 1 to 5)
- At the Patwon Prospect, 191 channel samples (total length of
178.94 m) and 90 grab samples were
collected from an area about 220 metres long by 100 metres wide.
Sampling from this same area in 2018 produced 14 channel samples
(total length of 6.18 m) and 17 grab
samples.
- Significant gold results were found across the whole area. All
results from 2019 and 2018 are shown in Figures 4 and 5.
- The best channel results are as follows:
-
- Elm18-001 5.61 g/t Au over 0.59
m
- Elm18-002 2.90 g/t Au over 3.52
m
- Elm-2, 2' 1.38 g/t Au over 1.96
m
- Elm-3 3.61 g/t Au over 1.56
m
- Elm-4 6.47 g/t Au over 1.96
m
- Elm-5 1.28 g/t Au over 0.98
m
- Elm-6 2.16 g/t Au over 2.98
m
- Elm-09 22.1 g/t Au over 2.95
m
- Elm-10 36.3 g/t Au over 2.0
m
- Elm-11 9.52 g/t Au over 7.1
m
- Elm-12, 12' 1.14 g/t Au over 3.59
m
- Elm-12'''' 22.54 g/t Au over 1.63
m
- Elm-19 1.88 g/t Au over 1.0
m
- Elm-33 3.33 g/t Au over 8.0
m incl. 5.33 g/t Au over 4.0
m
- Elm-38 2.03 g/t Au over 1.39
m
- Elm-40 24.36 g/t Au over 0.92
m
In addition, a channel sample located
250 m SW from Patwon returned 25.2
g/t Au over 1.0 m.
- Grab sample grades can be grouped as follows:
-
- 14 samples with grades above 5.0 g/t Au, including:
54.6 g/t Au, 25.6 g/t Au, 20.7 g/t Au, 11.65 g/t Au, 11.1
g/t Au, 9.84 g/t Au, 9.8 g/t Au, 9.24 g/t Au,
9.01 g/t Au, 8.98 g/t Au, 8.44 g/t Au, 7.12 g/t
Au, and 5.61 g/t Au
- 54 samples with grades ranging from 1.0 g/t to 5.0 g/t Au
- 31 samples with grades ranging from 0.5 g/t Au to 1.0 g/t
Au
- Several veins located in the northwestern part of the prospect
have higher silver values, up to 331 g/t Ag.
- Mineralized facies correspond to a centimetric to metric
network of quartz veins with strongly chloritized and carbonatized
wall rocks containing 1% to 10% disseminated pyrite. A mafic
intrusion cut by felsic to intermediate dykes constitutes the main
host rock.
- Four types of mineralized quartz veins have been
identified:
-
- Extensional veins, oriented NW-SE (Photo 1), oblique to the
NE-SW schistosity; several extensional veins have a Z-fold
shape;
- Shear veins subparallel to schistosity;
- Quartz stockwork mainly associated with felsic to intermediate
dykes (Photo 2); and
- Veins and/or mineralized wall rock at the contact between the
felsic dykes and the mafic host lithologies (Photos 3 and 4).
- The current field program points toward a sizeable target that
remains open in most directions. The preliminary geometric model
suggests a series of subparallel extensional veins contained within
an interpreted mineralized envelope, 30 to 50 metres wide and
roughly conformable to the NE-SW schistosity direction (see Figure
5).
- The Patwon Prospect is part of a newly interpreted
7-kilometre-long high-grade trend that includes four other
prospects: Gabbro Zone (up to 77.8 g/t Au, 167.0 g/t
Ag), Gold Zone (up to 102.5 g/t Au), Patwon East (up to
2.2 g/t Au) and East Zone (up to 6.3 g/t Au) (see
Figures 2 and 3). Historical prospecting along this trend has been
sporadic and limited. The encouraging results from the Patwon
Prospect this summer warrant further exploration along this
trend.
The Elmer Property comprises 276 claims covering 145.4
km2 over a 22-kilometre strike length. It was acquired
by map designation in 2018 (see press releases of September 13, 2018, November 20, 2018 and June
13, 2019). The Property is located 285 kilometres north of
Matagami, 60 kilometres east of
the municipality of Eastmain, and
40 kilometres west of the James Bay Road. The region benefits
from quality infrastructure that includes major access roads, a
hydro-power grid and airports.
Channel and grab sample positions were recorded with a
high-precision GPS. The channels were cut generally perpendicular
to vein strike. Grab samples are selective by nature and unlikely
to represent average grades.
This press release was prepared by Jean-Marc Lulin, P.Geo., acting as Azimut's
qualified person under National Instrument 43-101.
About Azimut
Azimut is a mineral exploration company whose core business is
centred on target generation and partnership development. The
Company uses a pioneering approach to big data analytics (the
proprietary 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. The Company's edge against
exploration risk is founded on systematic regional-scale data
analysis and multiple concurrently active projects. This includes
two regional strategic alliances with SOQUEM for six (6) gold
properties in the James Bay region
and three (3) major gold-copper properties in the Nunavik
region.
www.azimut-exploration.com
SOURCE Azimut Exploration Inc.