TSXV:AZM
OTCQX:AZMTF
LONGUEUIL, QC, July 5, 2022
/CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the
"Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to report it has
substantially increased its land holdings for nickel targets at the
scale of the Eeyou-Istchee James Bay region in Quebec. The systematic targeting strategy
implemented by Azimut is supported by its proprietary
AZtechMine™ technology and other exploration criteria,
as well as its in-depth knowledge of the region (see press
release of November 30,
2021).
Azimut believes the James Bay
region (176,300 km2) is underexplored for
intrusion-related nickel deposits. This is corroborated by the
significant initial drilling result recently disclosed for the
Wapatik Property under option to Mont Royal Resources
Limited (ASX:MRZ) (see press release of June 29, 2022).
The reported interval (2.68% Ni, 1.30% Cu, 0.09% Co over
3.30 m in hole WAP22-03) is one
of the best nickel-copper results recorded in the James Bay region, based on public data
(SIGEOM).
HIGHLIGHTS (see Figure
1)
- Acquisition by map designation of a total of 2,063 claims
(1,070 km2) in 80 distinct blocks of claims, including
1,012 recently acquired claims. The claims were granted by the
Ministry of Energy and Natural Resources of Quebec. Collectively, these targets form the
James Bay Nickel Project (the "JBN Project") wholly owned by
Azimut.
- Nickel targeting is mostly driven through Azimut's advanced
processing of regional-scale geophysical, geochemical and
geological data (see press release of November 19, 2015).
- Most of the targets correspond to hectometre- to
kilometre-scale mafic to ultramafic intrusions, likely representing
subvolcanic conduits, dykes and sills intruded in
volcano-sedimentary sequences. Most of the acquired targets display
little or no past exploration history.
- The exploration concept supporting this claim position is based
on a specific high-grade nickel deposit model, best illustrated by
the Eagle's Nest deposit in the Ring of Fire (Ontario, Canada) and the Eagle deposit
in Michigan (USA).
- The JBN Project also presents a significant potential for
copper, cobalt and platinum group elements, which are commonly
associated with nickel deposits. All these commodities will be in
high demand in the long term, given the current global energy
transition period.
- Azimut has implemented efficient in-house exploration protocols
to rapidly validate and advance these targets to the drilling
stage.
- Quebec is one of the leading
mining jurisdictions in the world. The James Bay region also benefits from
high-quality infrastructure, including paved access roads, power
lines and airports. The long-standing relationship between the Cree
Nation and the Government of Quebec has been recently strengthened by the
Grande Alliance agreement.
Corporate information: Ms. Krista
Muhr has resigned as a member of the Company's Board of
directors effective July 1. Her
contribution is recognized and appreciated by Azimut and the
Company wishes her the best in her future endeavours.
Dr. Jean-Marc Lulin, P.Geo.,
prepared this press release as the Company's Qualified Person under
National Instrument 43-101. Mathieu
Landry, P.Geo., senior consultant, has also reviewed the
content of this press release.
About Azimut
Azimut is a leading mineral exploration company in Quebec with a solid reputation for target
generation and partnership development. The Company
is actively advancing its wholly-owned flagship
Elmer Gold Project to the initial
resource stage.
The Company uses a pioneering approach to big data analytics
(the proprietary AZtechMine™ expert system), enhanced
by extensive exploration know-how. Azimut's competitive edge is
based on systematic regional-scale data analysis and concurrently
active projects. Azimut maintains rigorous financial discipline and
a strong balance sheet, with 81.9 million shares issued and
outstanding.
www.azimut-exploration.com
Cautionary note regarding
forward-looking statements
This press release contains forward-looking statements, which
reflect the Company's current expectations regarding future events
related to exploration programs on nickel targets. To the extent
that any statements in this press release contain information that
is not historical, the statements are essentially forward-looking
and are often identified by words such as "consider", "anticipate",
"expect", "estimate", "intend", "project", "plan", "potential",
"suggest" and "believe". The forward-looking statements involve
risks, uncertainties, and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. Many factors could cause such
differences, particularly volatility and sensitivity to market
metal prices, the impact of changes in foreign currency exchange
rates and interest rates, imprecision in reserve estimates,
recoveries of gold and other metals, environmental risks including
increased regulatory burdens, unexpected geological conditions,
adverse mining conditions, community and non-governmental
organization actions, changes in government regulations and
policies, including laws and policies, global outbreaks of
infectious diseases, including COVID-19, and failure to obtain
necessary permits and approvals from government authorities, as
well as other development and operating risks. Although the Company
believes that the assumptions inherent in the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this document.
The Company disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise, other than as required to
do so by applicable securities laws. The reader is directed to
carefully review the detailed risk discussion in our most recent
Annual Report filed on SEDAR for a fuller understanding of the
risks and uncertainties that affect the Company's
business.
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.