Symbol: AZM.TSX Venture
LONGUEUIL, QC , Aug. 27, 2014 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to report excellent results of a helicopter-borne geophysical survey recently completed on the Nantais Property (Au, Ag, Cu, Zn). The newly acquired results, combined with the presence of high-grade polymetallic prospects and strong geochemical anomalies in lake-bottom sediments, lead the Company to consider Nantais as an attractive ready-to-drill district-scale target.
Electromagnetic anomalies totalling 18.4 km of cumulative length over 23 distinct conductors have been identified. This includes a 1.2-km-long conductor coincident with a 3-km-long mineralized corridor previously outlined by Azimut (see press release dated July 3, 2014 ). The geophysical anomalies also display an excellent correlation with strong property-scale copper and silver-arsenic-antimony-bismuth anomalies in lake-bottom sediments.
The geophysical program consisted of a VTEM plus time-domain electromagnetic survey and a high-resolution magnetic survey totalling 998 linear kilometres, with a line spacing of 200 metres. Geotech Ltd of Aurora, Ontario , has performed the survey and identified the conductor axes, with the results further interpreted by Jeremy S. Brett , senior geophysical consultant for MPH Consulting Limited of Toronto, Ontario .
The Nantais Property covers an under-explored 20-km-long Archean greenstone belt entirely controlled by Azimut. The project comprises 383 claims with a surface area of 160.5 km2. It is located about 80 km south of Glencore's world-class Raglan nickel-PGE mine and 115 km southwest of the Inuit village of Kangiqsujuaq .
The best grades reported for rock grab samples from Nantais are presented below (see press releases of April 19 and September 18, 2012 ):
|
Gold (g/t)
|
Silver (g/t)
|
Copper (%)
|
Sample #
|
|
|
|
|
|
16.70
|
19.50
|
0.32
|
L253160
|
|
26.10
|
6.28
|
0.20
|
L253161
|
|
15.15
|
31.30
|
0.86
|
J351726
|
|
15.50
|
4.53
|
0.10
|
J351722
|
|
9.98
|
9.26
|
0.06
|
J351723
|
|
2.21
|
66.10
|
0.80
|
J351728
|
|
1.83
|
41.50
|
0.45
|
J351717
|
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under National Instrument 43-101.
Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company holds the largest exploration portfolio in Nunavik. Azimut's core business is project generation using cutting-edge targeting methodologies, along with partnership development. Azimut has 37.6 million shares issued, of which 48% are held by insiders and institutional shareholders. The Company has no debt and $2.0 million in working capital.
SOURCE Azimut Exploration Inc.