LONGUEUIL, Quebec, April 16, 2024 (GLOBE NEWSWIRE) — Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce a new diamond drilling phase on its 100% owned Elmer Property in the Eeyou Istchee James Bay region of Quebec, Canada. The minimum 3,000-metre program will begin early this summer after the Goose Break Holiday, a traditional First Nations hunting period.
The Company used advanced multi-parameter data processing to optimize drill target definition. The main objective of the drilling program is to test high-potential shallow-depth targets. Azimut believes there is excellent exploration potential on the Elmer Property, which could lead to a significantly increased already identified mineral resources on the project.
The four main target areas to be investigated are Patwon East, Patwon West, Wolf – A21, and Gabbro.
Target Areas for Investigation
The Elmer Property’s target areas of Patwon East, Patwon West, Wolf-A21, and Gabbro each present compelling opportunities for exploration and potential resource expansion.
Patwon East
The Patwon East area holds promising results, such as 1.35 g/t Au over 8.87 m and 15.3 g/t Au over 0.57 m, which indicate the presence of valuable mineralization.
Patwon West
Patwon West showcases significant results like 1.9 g/t Au over 1.70 m, demonstrating the potential for economic mineralization in this region.
Wolf–A21
Wolf–A21 contains notable mineralization, including 0.50 g/t Au, 45 g/t Ag over 30.0 m, indicating the presence of gold and silver in this target area.
Gabbro
The Gabbro area features impressive results such as 77.8 g/t Au, 167 g/t Ag, highlighting the potential for high-grade gold and silver mineralization.
All results have been previously reported (press releases of June 29, 2023, and November 21, 2023)
D: drill core; C: channel sample; G: grab sample; IP: induced polarization
Au: gold; Ag: silver; Cu: copper; Te: tellurium
Note: Grab samples are selective by nature and unlikely to represent average grades
About the Elmer Property (see Figures 1 to 3)
The Elmer Property comprises 515 claims (271.3 km2) over a 35-kilometre strike length. It lies 285 kilometres north of the town of Matagami, 60 kilometres east of the village of Eastmain, and 5 kilometres west of the paved Billy-Diamond Highway, a major all-season highway. The region benefits from excellent infrastructure, including significant road access, a hydroelectric power grid and airports.
Exploration Potential and Resource Expansion
Azimut’s exploration activities at the Elmer Property are aimed at uncovering the substantial exploration potential and expanding the known mineral resources on the project. The strategic target areas of Patwon East, Patwon West, Wolf–A21, and Gabbro exhibit promising mineralization signatures, paving the way for future resource growth.
Data and Resource Estimates
Azimut’s comprehensive data collection, including high-resolution surveys and extensive drilling, has allowed the Company to estimate significant mineral resources on the Elmer Property, indicating the economic viability of the project.
Qualified Persons
Dr. Jean-Marc Lulin (P.Geo.) prepared this press release as Azimut’s qualified person within the meaning of National Instrument 43-101. Rock Lefrançois (P.Geo.), Vice President of Exploration, and Alain Cayer (P.Geo.), Project Manager, also reviewed the contents of this press release.
About Azimut
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company’s strategic approach to exploration, coupled with innovative data analytics, positions it for continued success in mineral discovery.
