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Azimut announce Drilling Results on the Eleonore South JV Property, James Bay region, Quebec

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Azimut announce Drilling Results on the Eleonore South JV Property, James Bay region, Quebec

 

 

 

 

 

Azimut Exploration Inc. (TSX-V: AZM) is pleased to announce the results from 26 diamond drill holes (7,365 metres) completed during the late fall 2018 and winter 2019 programs on the Eleonore South JV Property, a joint venture with Newmont Goldcorp Corporation and Eastmain Resources Inc. The JV project is located immediately south of Newmont Goldcorp’s Eleonore gold mine in the James Bay region of Quebec (see Figure 1).

 

Drilling focused on the Cheechoo tonalite over a 1.3-kilometre strike length, testing the southern and western extensions of gold mineralization along the Contact Trend and Moni Trend.

 

In addition, a summer 2019 surface exploration program that began in August includes a budget for follow-up drilling in October.

 

HIGHLIGHTS (see Figures 2 to 6)

 

  • Hole ES19-156: 7.44 g/t Au over 9.7 m (Contact Trend), incl. 63.3 g/t Au over 0.8 m
  • Hole ES19-157: 1.02 g/t Au over 92.0 m (Contact Trend), incl. 7.36 g/t Au over 8.2 m

 

 

 

Table 1: 2018-2019 Drilling Summary
Hole Zone From
(m)
To
(m)
Length(1)
(m)
Grade(2)
Au (g/t)
Vertical
Depth(3) (m)
 
2019 Program
ES19-052-EXT Central Tonalite 239.0 264.5 25.5 0.61 192
incl. 239 245.0 6.0 1.14
ES19-147 Central Tonalite 130.5 138.1 7.6 1.03 103
incl. 137.1 138.1 1.0 2.32
150.0 151.5 1.5 15.7 116
ES19-149 Central Tonalite 14.1 105.0 90.9 0.23 45
ES19-150 Contact Trend 11.5 29.0 17.5 0.53 15
incl. 11.5 13.6 2.1 2.50
277.5 292.0 14.5 0.45 218
ES19-152 Contact Trend 91.5 124.5 33.0 0.45 83
incl. 103.5 105.0 1.5 2.84
ES19-156 Contact Trend 140.3 150.0 9.7 7.44 111
incl. 140.3 141.1 0.8 12.2
incl. 144.7 145.5 0.8 63.2
385.5 400.5 15.0 0.84 301
incl. 394.5 396.0 1.5 4.83
ES19-157 Contact Trend 157.0 249.0 92.0 1.02 155
incl. 179 187.2 8.2 7.36
ES19-158 Contact Trend 91.5 334.0 242.5 0.25 162
incl. 211.5 229.5 18.0 0.46
incl. 255.1 275.5 20.4 0.54
 
2018 Program
ES18-134 Contact Trend 47.5 49.0 1.5 0.50 37
66.5 68.0 1.5 0.49 52
144.9 156.5 11.6 0.52 115
incl. 155.0 156.5 1.5 2.99
166.0 169.0 3.0 0.55 125
235.0 236.0 1 3.16 180
ES18-135 Central Tonalite 46.3 47.1 0.8 0.84 36
75.3 76.5 1.2 0.96 58
96.1 99.0 2.9 0.77 75
178.5 183.0 4.5 0.66 138
ES18-138 Moni–101 Trend 90.1 91.5 1.4 1.36 70
297.5 299.0 1.5 1.20 228
ES18-139 JT Prospect 60.0 61.5 1.5 0.89 47
163.5 165.0 1.5 2.44 126
ES18-140 JT Prospect 57.4 57.9 0.5 28.3 44
95.8 107.7 11.9 0.43 78
incl. 104.7 107.7 3.0 0.97
ES18-141 JT Prospect 17.5 18.9 1.4 2.35 14
23.2 24.4 1.2 0.88 18
143.1 144.5 1.4 0.67 110
ES18-142 JT Prospect 16.0 17.3 1.3 0.63 13
60.0 61.5 1.5 0.73 47
72.0 73.5 1.5 0.48 56
137.0 138.5 1.5 0.53 106
162.5 164.0 1.5 0.64 125
ES18-143 Contact Trend 48.5 49.3 0.8 0.75 37
62.4 76.8 14.4 0.32 53
incl. 73.5 76.8 3.3 0.76
203.0 204.5 1.5 0.45 156
219.5 221.0 1.5 0.5 169
238.5 240.0 1.5 8.12 183
ES18-144 Moni–101 Trend 206.5 207.7 1.2 0.41 159
ES18-145 Central Tonalite 60.0 63.0 3.0 0.61 47
86.8 100.5 13.7 0.37 72
incl. 86.8 90.6 3.8 0.67
incl. 97.0 100.5 3.5 0.63
106.8 108.0 1.2 0.78 82
 
Notes: (1) Intervals represent core lengths. True widths have not yet been determined; (2) Assays are not capped; (3) Vertical depth is measured from surface to the mid-point of the reported interval.

 

 

Drilling along the Contact Trend

 

Nine holes (ES19-150 to ES19-152 and ES19-154 to ES19-159) tested the Contact Trend to establish continuity within this area explored since 2016.

 

Hole ES19-156 intersected a section grading 7.44 g/t Au over 9.7 m. Gold mineralization in this interval is distributed in altered tonalite (12.2 g/t Au from 140.3 m to 141.1 m), lamprophyre (63.2 g/t Au from 144.7 m to 145.5 m) and pegmatite (3.86 g/t Au from 141.1 m to 142 m).

 

Hole ES19-157 returned 1.02 g/t Au over 92.0 m in altered tonalite cut by several units of altered pegmatite and lamprophyre. This mineralized section includes an interval of 7.36 g/t Au over 8.2 m related to deformed and altered lamprophyre dykes with quartz veining. Similar intersections of mineralized and altered tonalite intruded by pegmatites have been reported in most of the holes drilled in this sector.

 

Drilling along the Central Tonalite (area between the Moni and Contact trends)

 

Nine holes (ES18-134, ES18-135, ES18-143, ES18-145 to ES19-149 and ES19-155) and one extension (ES19-052 EXT) tested the relatively undrilled section of the Cheechoo tonalite between the Moni and Contact trends.

 

Holes ES18-143 and ES19-147 were drilled along a section northwest of hole ES18-128 to test the extension of the Contact Trend to the north. Each hole intersected a high-grade interval at depth: 8.12 g/t Au over 1.5 m (ES18-143), and 16.7 g/t Au over 1.5 m (ES19-147).

 

Drilling along the Western Tonalite Contact and the JT Prospect

 

Three holes (ES18-136, ES19-153 and ES19-154) tested the western extension of the Contact Trend approximately 500 metres west of hole ES17-90 (0.5 g/t Au over 123.5 m), the focus of previous drilling (see press release of December 12, 2017). The holes encountered moderately altered tonalite with locally strong foliation but did not intersect significant anomalous gold mineralization.

 

Holes ES18-139 to ES18-142 investigated the JT Prospect about 3 kilometres west of the Contact and Moni trends. These holes tested the Cheechoo tonalite by drilling through the JT meta-sedimentary package in the vicinity of historical hole ES08-12 (2.15 g/t Au over 14 m). The best intercept is 28.3 g/t Au over 0.5 m (ES18-140) related to a narrow sulfide vein hosted in meta-greywacke close to a pegmatitic contact.

 

2019 Summer Field Program

 

The 2-month helicopter-supported field program was designed to develop additional intrusion-related gold targets in the southern and central parts of the Property, and other targets related to metavolcanics in the western part. The key elements of this program include prospecting and mapping, as well as a soil geochemical survey (B horizon).

 

 

Table 2: Drill Hole Location Information
Target Drill Hole* Azimuth Dip Depth UTM East UTM North Elevation
Contact Trend ES18-134 320 -50 267 437333 5829454 230
Central Tonalite ES18-135 320 -50 261 437454 5829600 229
Contact Trend ES18-136 340 -50 351 436800 5828920 224
Moni – 101 Trend ES18-138* 140 -50 306 437082 5829998 245
JT Prospect ES18-139 110 -50 234 435270 5830107 232
JT Prospect ES18-140 110 -50 201 435286 5830037 233
JT Prospect ES18-141 110 -50 204 435249 5829973 221
JT Prospect ES18-142 110 -50 225 435245 5829876 239
Contact Trend ES18-143 320 -50 300 437678 5829592 232
Moni – 101 Trend ES18-144 160 -50 300 437055 5829790 242
Central Tonalite ES18-145 320 -50 207 437099 5829434 219
Central Tonalite ES19-146 320 -50 248 437674 5829779 223
Central Tonalite ES19-147 320 -50 201 437581 5829727 228
Contact Trend ES19-148 320 -50 252 437755 5829664 226
Contact Trend ES19-149 320 -50 321 437593 5829544 228
Contact Trend ES19-52 ext 320 -50 159 437882 5829660 232
Contact Trend ES18-150 320 -50 299 437958 5829726 235
Contact Trend ES18-151 320 -50 317 438003 5829515 223
Contact Trend ES18-152 320 -50 300 438068 5829588 226
Contact Trend ES18-153 360 -50 300 436595 5828947 208
Contact Trend ES18-154 320 -50 351 437084 5828852 209
Contact Trend ES19-155 320 -50 255 436928 5829202 203
Contact Trend ES19-156 320 -50 426 438200 5829705 231
Contact Trend ES19-157 320 -50 306 437751 5829279 240
Contact Trend ES19-158 320 -50 420 437554 5829171 225
Contact Trend ES19-159 320 -50 354 437214 5829207 227

 

 
Hole ES18-137 was terminated due to misalignment.

 

 

About the Eleonore South Joint Venture Property

 

The Eleonore South Property is a three-way joint venture between Azimut (TSXV:AZM) (26.6%), Eastmain Resources Inc. (TSX:ER) (36.7%) and Newmont Goldcorp Corporation (TSX:NGT) (NYSE:NEM) (36.7%). Azimut has approved the 2019 program but is not contributing to the current phase of work; this may change in the future. Eastmain is the operator of the current program under the supervision of William McGuinty, P.Geo., Eastmain’s VP Exploration, a qualified person as defined by National Instrument 43-101. The technical information supporting this press release was provided by Eastmain and reviewed by Jean-Marc Lulin, P.Geo., acting as Azimut’s qualified person as defined by National Instrument 43-101.

 

About Azimut

 

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 56.4 million shares outstanding.

 

Azimut holds the largest mineral exploration portfolio in Quebec. The Company’s edge against exploration risk is founded on regional-scale data analysis and multiple concurrently active projects. This includes two regional strategic alliances with SOQUEM for six gold properties in the James Bay region and three major gold-copper properties in the Nunavik region.

 

Posted October 1, 2019

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