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Azimut Exploration Announces Encouraging Lithium Prospecting Results from Pilipas, James Bay Region, Quebec
LONGUEUIL, Quebec, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report encoura
About this update from Azimut Exploration, Inc.
[{"type":"text","content":" LONGUEUIL, Quebec, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report encouraging initial results from multiple spodumene pegmatite outcrops discovered during the recently completed surface sampling program on the Pilipas Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec, Canada (Figure 1). Ophir Metals (“Ophir”) (TSXV: OPHR) (OTCQB: OPHRF), as operator under the option agreement, performed the initial lithium-focused prospecting phase on the Property. Plans for a 2,000 m drilling program have been finalized, and a rig is expected to be mobilized in August. HIGHLIGHTS (see Figures 1 and 2) Validation of the Highway showing (HW1), with sixteen (16) spodumene pegmatite grab samples grading up to 3.47% Li2O. Fifteen (15) samples returned values higher than 1.0% Li2O over a 150 m exposed strike length and 30 m width. HW1 remains open to the northwest. Spodumene mineralization was also identified 500 m south of HW1. This area – the HW2 showing – returned grades up to 1.98% Li2O from six (6) grab samples with grades higher than 0.5% Li2O. Outcrop samples collected 1.7 to 7.5 km east of HW1 yielded assays between 348 ppm and 604 ppm Ta2O5. Tantalum is recognized as an excellent pathfinder element for lithium in pegmatites. A total of 494 rock samples were collected during the 2024 prospecting and mapping program. Assay results for 138 samples remain to be received. Please note that grab samples are selective by nature and unlikely to represent average grades. About the Pilipas Property The Pilipas Property (135 claims, 70.7 km2) is located along the Billy-Diamond Highway near hydroelectric power lines. Pilipas is adjacent to and on strike from the Munischiwan project (Azimut – SOQUEM JV), which displays many similar geological features. Pilipas is underlain by the Lower Eastmain greenstone belt, part of the La Grande Subprovince of the Archean Superior Province. Pilipas displays significant exploration potential for lithium-cesium-tantalum (LCT) pegmatites and intrusion-related and volcanogenic massive sulphide gold-copper systems. Under the option agreement signed in December 2023, Ophir can acquire up to a 70% interest in the Property by funding $4 million in exploration expenditures and making payments tota...