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).
- 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.
