TSXV: AZM
OTCQX: AZMTF
The Property, located in the Eeyou Istchee James Bay region of Quebec, is under option to
The new intrusion reported in this release has little surface exposure but is marked by a strong magnetic footprint measuring about 1,000 m by 400 m. The best prospecting assay results to date are as follows:
Ni (%) | Cu (%) | Co (ppm) | Ag (g/t) | MgO (%) | Sample # |
0.327 | 0.446 | 177.5 | 2.23 | 22.80 | G395792 |
0.180 | 0.165 | 133.5 | 0.87 | 25.70 | G395793 |
0.301 | 0.341 | 208.0 | 1.66 | 22.88 | G395795 |
Mineralization comprises disseminated chalcopyrite, pyrrhotite (and maybe pentlandite). Host rocks are massive pyroxenite and/or peridotite. These grab samples have been collected from sub-cropping blocks. Note that grab samples are selective by nature and unlikely to represent average grades.
Based on the magnetic data, another potential ultramafic body may exist further east, but this remains to be confirmed. Assay results from other prospecting targets sampled this fall are still pending.
As previously reported, a diamond drilling program (1,100 metres, 5 holes) is underway to continue evaluating the nickel-copper potential of the ultramafic body discovered in 2021 on the Property (see press releases of
Dr.
All rock samples are sent to
Wapatik is a 25-kilometre-long project comprising one block of 220 claims (115 km2) in an area with excellent infrastructure, including road access and power lines. It covers a largely underexplored part of the Lower Eastmain greenstone belt of Archean age, on strike from Azimut's Elmer Property (
Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company holds the largest mineral exploration portfolio in
Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system), enhanced by extensive exploration know-how. The Company's competitive edge is based on systematic regional-scale data analysis and concurrently active projects. Azimut maintains rigorous financial discipline and a strong balance sheet, with 79.3 million shares issued and outstanding.
www.azimut-exploration.com
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events related to the drilling results from the Wapatik Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as "consider", "anticipate", "expect", "estimate", "intend", "project", "plan", "potential", "suggest" and "believe". The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR for a fuller understanding of the risks and uncertainties that affect the Company's business.
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