Azimut Exploration Inc. and SOQUEM cover the InSight Discovery (Au-Ag-Cu) with a Ground Geophysical Survey, Munischiwan Property, James Bay region
TSX VENTURE: AZM
LONGUEUIL, QC, March 25, 2019 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce that a 70-line-kilometre magnetic and induced polarization ground geophysical survey is in progress to further assess the InSight discovery (Au-Ag-Cu) on the Munischiwan Property (the "Property") in the James Bay region of Quebec (see Figure 1). The results will help define the next exploration phase on the Property which will consist of detailed prospecting and diamond drilling.
The Property is jointly owned with SOQUEM Inc. ("SOQUEM"), a subsidiary of Ressources Québec, under a Strategic Alliance covering the James Bay region. Major new developments of the Strategic Alliance were disclosed in the Company's press release of February 25, 2019.
The InSight surface discovery is a direct outcome of the Company's predictive modelling using the AZtechMineTM expert system over the James Bay region. InSight displays the following salient features (see press releases of October 25 and December 5, 2018):
- An outcropping mineralized zone 600 metres long by 100 to 150 metres wide, open in all directions, dipping about 30° east.
- Best results up to 100.5 g/t Au, 435.0 g/t Ag, 156.0 g/t Te and 1.67 % Cu from grab samples (see Figure 2). Grab samples are selective by nature and unlikely to represent average grades.
- An additional gold showing 600 metres to the south (2.42 g/t Au) may represent the extension of the main mineralized zone, bringing the minimum prospective strike to 1,200 metres.
- Mineralization mostly composed of disseminated chalcopyrite, quartz veins and quartz veinlets hosted in foliated metasediments with strong biotite alteration.
Geosig Inc. of Quebec City, Quebec, is conducting the geophysical survey over the InSight discovery and its potential extensions on a grid about 3.1 kilometres long by 2 kilometres wide with 100-metre line spacing. The induced polarization survey uses a pole-dipole array with readings every 25 metres (n=1 to 8).
The Munischiwan 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. The current work phase is 100% partner-funded with Azimut as the operator.
This press release was prepared by Dr. Jean-Marc Lulin, P.Geo., acting as Azimut's qualified person under National Instrument 43-101.
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 (AZtechMineTM expert system) enhanced by comprehensive exploration know-how. Azimut holds a strategic position for gold and base metals in Quebec totalling 26 properties. Azimut maintains rigorous financial discipline and has 53 million shares outstanding.
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.