Azimut and SOQUEM Uncover a Spodumene-Bearing Pegmatite Boulder Field at Galinée, James Bay Region, Quebec
06 Septembre 2023 - 12:30PM
Azimut Exploration Inc. (“Azimut” or the
“Company”) (
TSXV: AZM)
(
OTCQX: AZMTF) is pleased to report that a
spodumene-bearing pegmatite boulder
field containing at least 12 mineralized boulders has been
identified on the
Galinée Property (the
“Property”) in the Eeyou Istchee James Bay region of Quebec.
These encouraging preliminary field results
obtained by Azimut and its partner SOQUEM Inc.
(“SOQUEM”) confirm the strong prospectivity of the Property and
support the upcoming maiden drilling program targeting the area
immediately south of the Adina lithium discovery (Winsome
Resources). The minimum 1,600-metre core drilling program will be
initiated shortly.
In addition to Galinée, substantial concurrent
exploration programs are already underway or will soon commence
following a lengthy period of access restrictions related to
widespread forest fires. This includes work on projects for gold
and copper-gold (Elmer and Kukamas) and lithium (Pikwa, Pontois,
Dalmas, Corvet, Kaanaayaa, Wapatik and JBL) (see press releases of
August 21 and August 28, 2023).
HIGHLIGHTS (see Figures 1 to 6
and Photos 1 to 4)
- The boulder field in the northern
part of the Property is characterized by the following features:
- At least 12 spodumene-bearing
pegmatite boulders in a 650- by 350-metre area, not fully
delineated at this stage. The area has extensive glacial sediment
cover and only one outcrop (amphibolite). The dominant glacial
direction is NE to SW.
- Most boulders are angular to
sub-angular, generally indicative of short transport distances from
the bedrock source (a few metres to several hundred metres). It is
possible that some of the spodumene-bearing boulders originated
from the non-outcropping target area where the bedrock will be
drill-tested by the upcoming drilling program.
- Boulder sizes range from 0.5 x 0.5
metre to 1.5 x 1.5 metre, with spodumene constituting 5% to 20% of
the pegmatite.
- Spodumene crystals range from a few
centimetres to 20-25 centimetres long, with whitish and grey to
pink colours. A portable LIBS analyzer (Laser Induced Breakdown
Spectroscopy) was used to confirm the presence of lithium.
- Other associated minerals are
quartz, potassium feldspar, white mica, apatite and
tourmaline.
- These preliminary findings
underscore the strong discovery potential for spodumene-bearing
pegmatites on Galinée in the immediate vicinity of mineralized
bodies on the adjacent Adina project belonging to Winsome
Resources. Drilling on Adina has traced two east-west subparallel
spodumene-bearing pegmatite zones, including the Main Zone over a
strike length of 1,000 metres. Public data suggests both zones have
shallow dips toward Galinée.
- At Galinée, the aim of the drilling
program is two-fold: 1) intersect the down-dip extensions of
Winsome’s zones, and 2) investigate the strong potential for
additional subparallel spodumene-bearing pegmatites starting at
shallow depth on Galinée, immediately south of but geometrically
above Adina’s Main Zone (see press release of June 13, 2023).
- On a larger scale, the Galinée
Property displays well-defined targets, including a
20-kilometre-long lithium-cesium-gallium-tin anomaly in lake
sediments in the northwestern part of the Property. Outcrops in
this area are rare, but its strong geochemical footprint
underscores significant exploration potential roughly coincident
with a NE-SW-trending sheared greenstone belt (see Figures 2 to
4).
- To date, 107 grab rock samples have
been collected from target areas on the Property and assay results
are pending.
The Galinée PropertyThe Galinée
Property (649 claims, 335 km2) is a 50/50 joint venture between
Azimut and SOQUEM, operated by Azimut. The 36-kilometre-long
project is located about 50 kilometres north-northwest of the
Renard diamond mine (Stornoway) and 60 kilometres south of the
Trans-Taiga Road, a regional highway.
Qualified PersonDr. 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 François
Bissonnette (P.Geo.), Operations Manager, also reviewed the
contents of this press release.
About SOQUEMSOQUEM, a
subsidiary of Investissement Québec, is dedicated to promoting the
exploration, discovery and development of mining properties in
Quebec. SOQUEM also contributes to maintaining strong local
economies. A proud partner and ambassador for the development of
Quebec’s mineral wealth, SOQUEM relies on innovation, research, and
strategic minerals to be well-positioned for the future.
About AzimutAzimut 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 Quebec. Its wholly owned
flagship, the Elmer Gold Project, is advancing to
the initial resource stage in the James Bay region. Azimut also
controls a strategic land position for copper-gold, nickel and
lithium.
Azimut uses a pioneering approach to big data
analytics (the proprietary AZtechMine™ 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. The Company maintains
rigorous financial discipline and a strong balance sheet, with 79.9
million shares issued and outstanding.
Contact and Information
Jean-Marc Lulin, President and
CEOTel.: (450) 646-3015Jonathan Rosset, Vice
President Corporate DevelopmentTel: (604)
202-7531info@azimut-exploration.com www.azimut-exploration.com
Cautionary note regarding
forward-looking statements
This press release contains forward-looking
statements, which reflect the Company’s current expectations
regarding future events related to the drilling results from the
Galinée 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.
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.
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