Symbol: AZM.TSX Venture
LONGUEUIL, QC, Oct. 23, 2019 /CNW Telbec/ - Azimut
Exploration Inc. ("Azimut" or the "Company")
(TSXV: AZM) is pleased to report excellent additional
results from the Copperfield Trend on the Pikwa
Property (the "Property") in the James Bay region of Quebec. These results follow up on the
discovery of a 5.2-kilometre-long mineralized boulder field
spatially associated with mineralized outcrops, as announced
in the press release of October 16,
2019 (see Figures 1 to 7).
An additional batch of 20 samples yielded the following best
results from outcrops (o) and boulders (b):
Copper
(%)
|
Gold
(g/t)
|
Silver
(g/t)
|
Molybdenum
(%)
|
Sample
#
|
6.92
|
0.19
|
58.0
|
0.0551
|
A0366587
(b)
|
6.37
|
0.56
|
9.95
|
0.0017
|
A0366594
(b)
|
6.33
|
0.36
|
15.25
|
0.0004
|
A0366596
(b)
|
3.65
|
1.14
|
7.66
|
0.0027
|
A0366517
(o)
|
3.39
|
0.94
|
7.48
|
0.0036
|
A0366595
(b)
|
3.17
|
0.22
|
15.65
|
0.0040
|
A0366586
(b)
|
2.74
|
0.54
|
2.46
|
0.0012
|
A0366512
(o)
|
2.31
|
0.06
|
9.47
|
0.0021
|
A0366591
(b)
|
1.73
|
0.23
|
17.0
|
0.0566
|
A0366592
(b)
|
1.39
|
0.42
|
2.86
|
0.0005
|
A0366516
(o)
|
1.22
|
0.64
|
2.43
|
0.0327
|
A0366513
(o)
|
0.86
|
0.33
|
1.53
|
0.0043
|
A0366510
(o)
|
0.76
|
0.14
|
4.3
|
0.0061
|
A0366593
(b)
|
0.53
|
0.08
|
8.32
|
0.0276
|
A0366505
(b)
|
0.45
|
0.14
|
4.2
|
0.0010
|
A0366507
(b)
|
0.35
|
0.11
|
2.64
|
0.0381
|
A0366506
(b)
|
A total of 114 mineralized grab samples were collected from
outcrops and boulders along the Copperfield Trend in an area with
generally poor outcrop exposure. Assay results for the remaining
78 samples are pending.
The mineralization context can be characterized as follows:
- The dominant copper mineral is chalcopyrite occurring as
disseminations or semi-massive veins and veinlets accompanied by
frequent bornite and chalcocite, and lesser amounts of malachite
and occasional azurite;
- Other sulphides include molybdenite and, less frequently,
pyrite and pyrrhotite;
- Mineralization is principally hosted in biotite-rich gneisses
(interpreted as altered metadiorite or granodiorite); the host
rocks show varying degrees of potassic (biotite, potassic
feldspar), sericite, epidote, chlorite and magnetite
alteration;
- Mineralization generally occurs along foliation planes often
associated with quartz veinlets; and
- Foliation strikes ENE-WSW and dips on average 50° to
60° to the south.
Previously announced results for the Copperfield Trend were as
follows (press release of October 16,
2019):
Copper
(%)
|
Gold
(g/t)
|
Silver
(g/t)
|
Molybdenum
(%)
|
Sample
#
|
9.81
|
13.45
|
37.6
|
0.0007
|
A0366271
(o)
|
4.94
|
2.99
|
41.3
|
0.1635
|
A0366264
(b)
|
2.54
|
1.36
|
3.64
|
0.0035
|
A0366269
(o)
|
2.06
|
0.41
|
6.27
|
0.0115
|
A0366439
(b)
|
0.93
|
0.38
|
10.0
|
0.0097
|
A0366266
(b)
|
0.70
|
0.15
|
6.04
|
0.0143
|
A0366435
(b)
|
0.69
|
0.36
|
8.81
|
0.2460
|
A0366268
(b)
|
0.61
|
0.18
|
6.82
|
0.0800
|
A0366432
(b)
|
The western extension of Copperfield remains largely open. An
additional 15-kilometre strike length is interpreted based on
strong copper anomalies in lake-bottom sediments, two strong
electromagnetic conductors, and a linear magnetic high. The
westward weakening of the copper footprint is explained by the
thicker till cover.
Several of the geological features in the Copperfield Trend
suggest it may represent an Archean analogue to Sweden's Paleoproterozoic world-class Aitik
porphyry Cu-Au-Ag-Mo deposit. The trend is considered a major
copper-gold exploration target based on these similarities (see
press release of October 16,
2019).
The Pikwa Property (701 claims, 359.4 km2) is
40 kilometres long by 17 kilometres wide and provides a
controlling position over a major polymetallic target. It is
located 303 kilometres east of the Cree community of
Wemindji in an area serviced by
excellent infrastructure, including permanent roads, power grids
and airport facilities. The Trans-Taiga Road, an important gravel
highway in the region, crosses the Property, as do two power
lines.
The Property is part of the Strategic Alliance between
Azimut and SOQUEM Inc. ("SOQUEM"), a subsidiary of
Ressources Québec. Major new developments of the Alliance, which
covers the James Bay region, were
disclosed in the Company's press release of May 15, 2019. Azimut is the operator of the
Alliance.
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, is dedicated to
promoting 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
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 57.4 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
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.