| Azimut reports on Hecla Quebec's progress on the Opinaca B gold property, James Bay region | |
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Symbol: AZM.TSX Venture
LONGUEUIL, QC , Nov. 25, 2015 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or "the Company") (TSXV: AZM) is pleased to report that Hecla Quebec Inc. ("Hecla"), a wholly owned subsidiary of Hecla Mining Company (NYSE-HL), has renewed its option to earn up to 60% interest on the Opinaca B Property in the immediate vicinity of Goldcorp's Éléonore gold mine in the James Bay region.
On the Opinaca B Property, Hecla has the option to earn up to a 60% interest from Azimut and Everton Resources Inc (TSXV: EVR), each company currently owning a 50% interest. A $60,000 option payment from Hecla was recently received by Azimut.
During the spring and summer of 2015, Hecla conducted a $394,000 exploration program comprising:
- A 40.5-km ground magnetic survey and a 21.8-km induced polarization ("IP") survey;
- A prospecting program, including the sampling of 473 grab (rock) or float samples and 96 soil samples; and
- A trenching program, including the collection of 153 channel samples from six sites.
Results outlined a 150- to 200-m-wide package of IP anomalies in the D8 prospect area carrying anomalous gold values (up to 0.11 g/t Au). The best prospecting result was 3.0 g/t Au from a boulder of chloritized wacke with quartz-feldspar-tourmaline veinlets.
Recently 42 new claims (22 km2) have been added to the Opinaca B Property. These new claims provide better control on the possible extensions of already defined prospective targets.
A Diamond drilling program is currently proposed for 2016 to test several high priority targets on the property.
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under NI 43-101.
Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is project generation using cutting-edge targeting methodologies, concurrently with partnership development.
SOURCE Azimut Exploration Inc.
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : AZM.V |
ISIN : CA3019501012 |
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Azimut Expl. is a gold and copper exploration company based in Canada. Azimut Expl. develops gold, copper and uranium in Canada, and holds various exploration projects in Canada. Its main asset in development is CENTRAL MINTO in Canada and its main exploration properties are ELEONORE SOUTH, NORTH RAE, WEMINDJI, OPINACA (A, A-EAST, B AND B-NORTH), DANIEL LAKE, OPINACA, REX SOUTH, WABAMISK, SOUTH BIENVILLE, KATIVIC and LAC VOLANT in Canada. Azimut Expl. is listed in Canada. Its market capitalisation is 28.0 millions as of today (US$ 20.3 millions, € 18.6 millions). Its stock quote reached its lowest recent point on December 20, 2002 at 0.04, and its highest recent level on June 29, 2007 at 9.42. Azimut Expl. has 47 442 200 shares outstanding. |