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Azimut and KGHM Sign Joint Venture Option Agreement for the Kukamas Copper-Gold Property, James Bay Region, Quebec
Azimut and KGHM Sign Joint Venture Option Agreement for the Kukamas Copper-Gold Property, James B...
About this update from Azimut Exploration, Inc.
[{"type":"text","content":"\n \n \n \n Azimut and KGHM Sign Joint Venture Option Agreement for the Kukamas Copper-Gold Property, James Bay Region, Quebec\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSXV: AZM\n \n OTCQX: AZMTF\n \n \n \n \n LONGUEUIL\n \n , QC\n \n ,\n \n \n Dec. 8, 2022\n \n \n /CNW Telbec/ -\n \n Azimut Exploration Inc.\n \n (\"Azimut\" or the \"Company\") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the signing of a joint venture option agreement (the \"Agreement\") for its Kukamas Property (the \"Property\") in the Eeyou Istchee James Bay region of\n \n Quebec\n \n (\n \n see Figures 1 to 5\n \n ) with\n \n KGHM International Ltd\n \n (\"KGHM International\"). KGHM International is a subsidiary of KGHM Polska Miedź S.A, a Polish corporation that has been a major copper and silver producer for more than 50 years, with mining projects in\n \n Europe\n \n ,\n \n North America\n \n and\n \n South America\n \n .\n \n \n Under the Agreement, KGHM International can acquire from Azimut an initial 50% interest in the Property over four (4) years with\n \n $5 million\n \n in exploration expenditures and can earn an additional 20% interest with a further investment of at least\n \n $4.2 million\n \n to complete and deliver a preliminary economic assessment study (\"PEA\").\n \n \n A first exploration program totalling\n \n $700,000\n \n will be undertaken in early 2023 and will include a high resolution magnetic-electromagnetic heliborne survey, a detailed lake-bottom sediment survey, followed by focussed prospecting on targets defined by these surveys. Azimut is the operator.\n \n \n The Kukamas Property covers a 41-kilometre cumulative strike length along a highly prospective greenstone belt (the Yasinski Group) within the La Grande Subprovince of the Archean Superior Province. Kukamas displays one of the strongest geochemical footprints for copper-gold mineralized systems in the\n \n James Bay\n \n region, marked by strong values in copper, silver, arsenic and anti...