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Azimut Exploration Commences Drilling Major Antimony-Gold Corridor on the Wabamisk Gold Property, James Bay Region, Quebec
LONGUEUIL, Quebec, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the c
About this update from Azimut Exploration, Inc.
[{"type":"text","content":" LONGUEUIL, Quebec, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the commencement of a diamond drilling program that will focus on the recently discovered high-grade antimony corridor (the “Fortin Zone”) on its wholly-owned Wabamisk Property (the “Property”) in the Eeyou Istchee James Bay (“James Bay”) region of Quebec (see Figures 1 to 4). Azimut is proceeding with a 5,000-metre diamond drilling program to assess the corridor’s strike and grade continuity. An initial 2,000-metre phase will be completed before the end of the year. Contingent on positive results, the remaining 3,000 metres of drilling will be carried out in early 2025. With approximately $9 million in its treasury, the Company is fully funded for this drill program. The discovery of a high-grade antimony system in Quebec presents a rare opportunity, given the commodity's status as a critical mineral and the current risk of a supply shortage (see explanation below). As previously disclosed (see press release of October 29, 2024), the 2024 prospecting program has revealed an antimony-rich system demonstrated by channel samples (3.92% Sb over 14.0 m) and numerous high-grade grab samples (up to 24.8% Sb) collected along a 1.2-kilometre-long strike within the Fortin Zone. Gold (up to 7.27 g/t Au in grabs) commonly accompanies antimony. Note that grab samples are selective by nature and unlikely to represent average grades. Geoscientific data support a minimum 3.5-kilometre length for the antimony-gold exploration corridor. The corridor is related to an extensive shear zone between a thick metasedimentary unit to the north (the Auclair Formation) and a mafic volcanic package to the south (the Natel Formation). It is marked by a strong antimony footprint in lake sediments, till and soil. The antimony showings (grades higher than 0.5% Sb) correlate well with induced polarization (“IP”) chargeability anomalies and an axis of moderate magnetic intensity. The spatial distribution of the showings suggests a 30-metre-wide envelope for the mineralized zone. A recently completed high-resolution magnetic heliborne survey (381 line-km covering 1 km by 8 km at 25-metre line spacing) further defines the extent of the target zone. A string of magnetic an...