Business
Azimut announces Hecla will undertake a $925,000 exploration program, including 2,500 metres of drilling, on the Opinaca B Property in the Eleonore mining camp
Azimut announces Hecla will undertake a $925,000 exploration program, including 2,500 metr...
About this update from Azimut Exploration, Inc.
[{"type":"text","content":"\n\n\n\nAzimut announces Hecla will undertake a $925,000 exploration program, including 2,500 metres of drilling, on the Opinaca B Property in the Eleonore mining camp\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\n\nCanada NewsWire\nLONGUEUIL, QC, Jan. 23, 2017\n\n\n\nSymbol: AZM.TSX Venture \n\n\n\nLONGUEUIL, QC, Jan. 23, 2017 /CNW Telbec/ - Azimut Exploration Inc (\"Azimut\" or \"the Company\") (TSXV: AZM) is pleased to announce that Hecla Mining Company (\"Hecla\") (NYSE-HL) will invest $925,000 in new exploration on the Opinaca B gold property, held by Azimut and its partner Everton Resources Inc. (TSXV: EVR). \n\n\n \n \n\n\n\n\n\n\n\n \nThe 2017 program will consist of a ground magnetic and electro-magnetic survey, followed by 2,500 metres of diamond drilling that will focus on two targets with strong potential for gold discoveries: the Dominic area and the Fishhook structure (see attached figures). Hecla greatly improved the definition of these targets during the 2016 program, which included a detailed interpretation of previous magnetic data and comprehensive field work. The Opinaca B property, comprising 248 claims covering 129.7 km2, is located in a highly prospective part of the Eleonore mining camp.\n\nField work conducted in 2016 consisted of the following: prospecting and the collection of 548 rock grab samples; mechanized stripping in 6 different areas; and channel sampling along 10 distinct channels for a total length of 202.2 metres.\n\nA total of 12 grab samples returned values higher than 0.1 g/t Au, including 1.4 g/t Au and 1.1 g/t Au from outcrops (Dominic Prospect), and 1.4 g/t Au from a block (Fishhook Prospect). These anomalous values are generally associated with metasediments and paragneisses carrying sulphides and/or magnetite. \n\nA total of 9 channel samples returned values higher than 0.1 g/t Au in metasediments, including 1.8 g/t Au over 0.75 m and 1.2 g/t Au over 1.0 m from the Dominic Prospect.\n\nHecla has the option to acquire a 50% interest in the Opinaca B property by incurring $6 million in exploration work. The Company antici...