Business
Azimut Announces Agreements on the Eleonore South and Wabamisk Joint Ventures
Azimut Announces Agreements on the Eleonore South and Wabamisk Joint Ventures C...
About this update from Fury Gold Mines Limited
[{"type":"text","content":"\n \n \n \n Azimut Announces Agreements on the Eleonore South and Wabamisk Joint Ventures\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 \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, QC\n \n \n ,\n \n \n Aug. 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 execution of two definitive agreements in respect of the Eleonore South and Wabamisk joint ventures in the Eeyou-Istchee James Bay (\"James Bay\") region of\n \n Quebec\n \n :\n \n \n \n \n \n Eleonore South Joint Venture\n \n \n - Sale by Azimut of its 23.77% participating interest in the Eleonore South Joint Venture (the \"\n \n ELSJV\n \n \") to affiliates of (i) Newmont Corporation (TSX: NGT; NYSE: NEM) and (ii) Fury Gold Mines Limited (TSX: FURY; NYSE: FURY); and\n \n \n \n \n Wabamisk Joint Venture\n \n \n - Transfer by an affiliate of Newmont to Azimut of a 51% participating interest in the Wabamisk Joint Venture (the \"\n \n Wabamisk JV\n \n \"), resulting in Azimut regaining 100% of the Wabamisk Property.\n \n \n \n The ELSJV is considered a non-core asset for the Company after it announced a gold discovery on the 100%-owned Elmer Property in\n \n January 2020\n \n . Azimut is actively delineating the Patwon Gold Zone on the Elmer Property and advancing a maiden NI 43-101 mineral resource estimate (\n \n see Azimut's press release of\n \n July 28, 2022\n \n \n ).\n \n \n The Wabamisk JV is a gold property strategically located in the\n \n James Bay\n \n region. Regaining 100% interest in this property will enable Azimut to reassess its excellent exploration potential and business options.\n \n \n \n Principal Terms and Conditions of the Transactions\n \n \n \n \n \n Eleonore South Joint Venture\n \n \n \n \n Pursuant to an agreement dated\n \n August 8, 2022\n \n between Azimut, two affiliates of Newmont Corporation (together with Newmont Corporation, \"\n \n Newmont\n \n \"), and an affiliate of Fury Gold Mines Limite...