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Azimut and SOQUEM form a Strategic Alliance covering the James Bay-Eeyou Istchee region, Quebec
Azimut and SOQUEM form a Strategic Alliance covering the James Bay-Eeyou Istchee region, Q...
About this update from Azimut Exploration, Inc.
[{"type":"text","content":"\n\n\n\nAzimut and SOQUEM form a Strategic Alliance covering the James Bay-Eeyou Istchee region, Quebec\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\n\n\n\n\n\nAzimut and SOQUEM form a Strategic Alliance covering the James Bay-Eeyou Istchee region, Quebec\nCanada NewsWire\nLONGUEUIL, QC, Sept. 26, 2016\n\n\n\nSymbol: AZM.TSX Venture \n\n\n\nLONGUEUIL, QC, Sept. 26, 2016 /CNW Telbec/ - Azimut Exploration Inc. (\"Azimut\" or the \"Company\") (TSXV: AZM) is pleased to announce it has formed a Strategic Alliance with Société québécoise d'exploration minière (\"SOQUEM\") covering the James Bay–Eeyou Istchee region in Quebec. The objective of this four-year Alliance, covering a 176,300-km2 surface area, is to identify, acquire and explore highly prospective gold targets. The James Bay–Eeyou Istchee region is one of the most prospective and active mining regions in Canada. \n\nAzimut considers this Alliance to be a significant step in recognizing its expertise in big data processing applied to mineral exploration. By providing targeting support to SOQUEM, Azimut will gain, through this Alliance, mining interests in quality gold properties without diluting its share capital.\n\nThe main terms of the Strategic Alliance are as follows:\n\n\nAzimut will provide SOQUEM with a Target Report identifying major gold targets based on a systematic mineral potential analysis, including advanced processing of geoscientific data and subsequent validation steps; \nSOQUEM will select four (4) targets to be converted into properties at SOQUEM's cost; initial ownership in the properties will be 50% Azimut / 50% SOQUEM; \nSOQUEM has the option to reserve additional targets that can be converted into properties during the Alliance under the same conditions as above; \nOn the first four (4) targets, SOQUEM has the option to acquire Azimut's interest by investing a total of $3 million in exploration work over four years, including diamond drilling; at this stage, Azimut will retain a 2% NSR royalty interest of which 0.8% can be bought back for $800,000 in cas...