Azimut announce Drilling Results on the Eleonore South JV Property, James Bay region, Quebec

2019-10-01 / @newswire

 

Symbol: AZM.TSX Venture  

LONGUEUIL, QC, Oct. 1, 2019 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) is pleased to announce the results from 26 diamond drill holes (7,365 metres) completed during the late fall 2018 and winter 2019 programs on the Eleonore South JV Property (the "Property"), a joint venture with Newmont Goldcorp Corporation and Eastmain Resources Inc. The JV project is located immediately south of Newmont Goldcorp's Eleonore gold mine in the James Bay region of Quebec (see Figure 1).

Drilling focused on the Cheechoo tonalite over a 1.3-kilometre strike length, testing the southern and western extensions of gold mineralization along the Contact Trend and Moni Trend.

In addition, a summer 2019 surface exploration program that began in August includes a budget for follow-up drilling in October.

HIGHLIGHTS (see Figures 2 to 6)

  • Hole ES19-156: 7.44 g/t Au over 9.7 m (Contact Trend), incl. 63.3 g/t Au over 0.8 m
  • Hole ES19-157: 1.02 g/t Au over 92.0 m (Contact Trend), incl. 7.36 g/t Au over 8.2 m

 

Table 1: 2018-2019 Drilling Summary

Hole

Zone

From
(m)

To
(m)

Length(1)
(m)

Grade(2)
Au (g/t)

Vertical
Depth(3) (m)


2019 Program

ES19-052-EXT

Central Tonalite

239.0

264.5

25.5

0.61

192

incl. 239

245.0

6.0

1.14

ES19-147

Central Tonalite

130.5

138.1

7.6

1.03

103

incl. 137.1

138.1

1.0

2.32

150.0

151.5

1.5

15.7

116

ES19-149

Central Tonalite

14.1

105.0

90.9

0.23

45

ES19-150

Contact Trend

11.5

29.0

17.5

0.53

15

incl. 11.5

13.6

2.1

2.50

277.5

292.0

14.5

0.45

218

ES19-152

Contact Trend

91.5

124.5

33.0

0.45

83

incl. 103.5

105.0

1.5

2.84

ES19-156

Contact Trend

140.3

150.0

9.7

7.44

111

incl. 140.3

141.1

0.8

12.2

incl. 144.7

145.5

0.8

63.2

385.5

400.5

15.0

0.84

301

incl. 394.5

396.0

1.5

4.83

ES19-157

Contact Trend

157.0

249.0

92.0

1.02

155

incl. 179

187.2

8.2

7.36

ES19-158

Contact Trend

91.5

334.0

242.5

0.25

162

incl. 211.5

229.5

18.0

0.46

incl. 255.1

275.5

20.4

0.54


2018 Program

ES18-134

Contact Trend

47.5

49.0

1.5

0.50

37

66.5

68.0

1.5

0.49

52

144.9

156.5

11.6

0.52

115

incl. 155.0

156.5

1.5

2.99

166.0

169.0

3.0

0.55

125

235.0

236.0

1

3.16

180

ES18-135

Central Tonalite

46.3

47.1

0.8

0.84

36

75.3

76.5

1.2

0.96

58

96.1

99.0

2.9

0.77

75

178.5

183.0

4.5

0.66

138

ES18-138

Moni–101 Trend

90.1

91.5

1.4

1.36

70

297.5

299.0

1.5

1.20

228

ES18-139

JT Prospect

60.0

61.5

1.5

0.89

47

163.5

165.0

1.5

2.44

126

ES18-140

JT Prospect

57.4

57.9

0.5

28.3

44

95.8

107.7

11.9

0.43

78

incl. 104.7

107.7

3.0

0.97

ES18-141

JT Prospect

17.5

18.9

1.4

2.35

14

23.2

24.4

1.2

0.88

18

143.1

144.5

1.4

0.67

110

ES18-142

JT Prospect

16.0

17.3

1.3

0.63

13

60.0

61.5

1.5

0.73

47

72.0

73.5

1.5

0.48

56

137.0

138.5

1.5

0.53

106

162.5

164.0

1.5

0.64

125

ES18-143

Contact Trend

48.5

49.3

0.8

0.75

37

62.4

76.8

14.4

0.32

53

incl. 73.5

76.8

3.3

0.76

203.0

204.5

1.5

0.45

156

219.5

221.0

1.5

0.5

169

238.5

240.0

1.5

8.12

183

ES18-144

Moni–101 Trend

206.5

207.7

1.2

0.41

159

ES18-145

Central Tonalite

60.0

63.0

3.0

0.61

47

86.8

100.5

13.7

0.37

72

incl. 86.8

90.6

3.8

0.67

incl. 97.0

100.5

3.5

0.63

106.8

108.0

1.2

0.78

82


Notes: (1) Intervals represent core lengths. True widths have not yet been determined; (2) Assays are not capped; (3) Vertical depth is measured from surface to the mid-point of the reported interval.

 

Drilling along the Contact Trend

Nine (9) holes (ES19-150 to ES19-152 and ES19-154 to ES19-159) tested the Contact Trend to establish continuity within this area explored since 2016.

Hole ES19-156 intersected a section grading 7.44 g/t Au over 9.7 m. Gold mineralization in this interval is distributed in altered tonalite (12.2 g/t Au from 140.3 m to 141.1 m), lamprophyre (63.2 g/t Au from 144.7 m to 145.5 m) and pegmatite (3.86 g/t Au from 141.1 m to 142 m).

Hole ES19-157 returned 1.02 g/t Au over 92.0 m in altered tonalite cut by several units of altered pegmatite and lamprophyre. This mineralized section includes an interval of 7.36 g/t Au over 8.2 m related to deformed and altered lamprophyre dykes with quartz veining. Similar intersections of mineralized and altered tonalite intruded by pegmatites have been reported in most of the holes drilled in this sector.

Drilling along the Central Tonalite (area between the Moni and Contact trends)

Nine (9) holes (ES18-134, ES18-135, ES18-143, ES18-145 to ES19-149 and ES19-155) and one (1) extension (ES19-052 EXT) tested the relatively undrilled section of the Cheechoo tonalite between the Moni and Contact trends.

Holes ES18-143 and ES19-147 were drilled along a section northwest of hole ES18-128 to test the extension of the Contact Trend to the north. Each hole intersected a high-grade interval at depth: 8.12 g/t Au over 1.5 m (ES18-143), and 16.7 g/t Au over 1.5 m (ES19-147).

Drilling along the Western Tonalite Contact and the JT Prospect

Three (3) holes (ES18-136, ES19-153 and ES19-154) tested the western extension of the Contact Trend approximately 500 metres west of hole ES17-90 (0.5 g/t Au over 123.5 m), the focus of previous drilling (see press release of December 12, 2017). The holes encountered moderately altered tonalite with locally strong foliation but did not intersect significant anomalous gold mineralization.

Holes ES18-139 to ES18-142 investigated the JT Prospect about 3 kilometres west of the Contact and Moni trends. These holes tested the Cheechoo tonalite by drilling through the JT meta-sedimentary package in the vicinity of historical hole ES08-12 (2.15 g/t Au over 14 m). The best intercept is 28.3 g/t Au over 0.5 m (ES18-140) related to a narrow sulfide vein hosted in meta-greywacke close to a pegmatitic contact.

2019 Summer Field Program

The 2-month helicopter-supported field program was designed to develop additional intrusion-related gold targets in the southern and central parts of the Property, and other targets related to metavolcanics in the western part. The key elements of this program include prospecting and mapping, as well as a soil geochemical survey (B horizon).

 

Table 2: Drill Hole Location Information

Target

Drill Hole*

Azimuth

Dip

Depth

UTM East

UTM North

Elevation

Contact Trend

ES18-134

320

-50

267

437333

5829454

230

Central Tonalite

ES18-135

320

-50

261

437454

5829600

229

Contact Trend

ES18-136

340

-50

351

436800

5828920

224

Moni – 101 Trend

ES18-138*

140

-50

306

437082

5829998

245

JT Prospect

ES18-139

110

-50

234

435270

5830107

232

JT Prospect

ES18-140

110

-50

201

435286

5830037

233

JT Prospect

ES18-141

110

-50

204

435249

5829973

221

JT Prospect

ES18-142

110

-50

225

435245

5829876

239

Contact Trend

ES18-143

320

-50

300

437678

5829592

232

Moni – 101 Trend

ES18-144

160

-50

300

437055

5829790

242

Central Tonalite

ES18-145

320

-50

207

437099

5829434

219

Central Tonalite

ES19-146

320

-50

248

437674

5829779

223

Central Tonalite

ES19-147

320

-50

201

437581

5829727

228

Contact Trend

ES19-148

320

-50

252

437755

5829664

226

Contact Trend

ES19-149

320

-50

321

437593

5829544

228

Contact Trend

ES19-52 ext

320

-50

159

437882

5829660

232

Contact Trend

ES18-150

320

-50

299

437958

5829726

235

Contact Trend

ES18-151

320

-50

317

438003

5829515

223

Contact Trend

ES18-152

320

-50

300

438068

5829588

226

Contact Trend

ES18-153

360

-50

300

436595

5828947

208

Contact Trend

ES18-154

320

-50

351

437084

5828852

209

Contact Trend

ES19-155

320

-50

255

436928

5829202

203

Contact Trend

ES19-156

320

-50

426

438200

5829705

231

Contact Trend

ES19-157

320

-50

306

437751

5829279

240

Contact Trend

ES19-158

320

-50

420

437554

5829171

225

Contact Trend

ES19-159

320

-50

354

437214

5829207

227


Hole ES18-137 was terminated due to misalignment.

 

About the Eleonore South Joint Venture Property

The Eleonore South Property is a three-way joint venture between Azimut (TSXV:AZM) (26.6%), Eastmain Resources Inc. (TSX:ER) (36.7%) and Newmont Goldcorp Corporation (TSX:NGT; NYSE:NEM) (36.7%). Azimut has approved the 2019 program but is not contributing to the current phase of work; this may change in the future. Eastmain is the operator of the current program under the supervision of William McGuinty, P.Geo., Eastmain's VP Exploration, a qualified person as defined by National Instrument 43-101. The technical information supporting this press release was provided by Eastmain and reviewed by Jean-Marc Lulin, P.Geo., acting as Azimut's qualified person as defined by National Instrument 43-101.

About Azimut

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 56.4 million shares outstanding.

Azimut holds the largest mineral exploration portfolio in Quebec. The Company's edge against exploration risk is founded on regional-scale data analysis and multiple concurrently active projects. This includes two regional strategic alliances with SOQUEM for six (6) gold properties in the James Bay region and three (3) major gold-copper properties in the Nunavik region.

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.

SOURCE Azimut Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2019/01/c1890.html

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