Azimut Exploration Inc.

Published : September 09th, 2014

Azimut delineates major gold-polymetallic prospective zones at Rex South, Nunavik, Northern Quebec

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Azimut delineates major gold-polymetallic prospective zones at Rex South, Nunavik, Northern Quebec

Symbol: AZM.TSX Venture

Longueuil, QC, Sept 9, 2014 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV : AZM) is pleased to report significant progress on the mineral potential assessment of its Rex South property following further analysis of the database acquired during the Company's exploration programs. Rex South is a major 100%-owned property at the heart of the Quebec government's Plan Nord project. The geologic context of the property and associated mineralization type are, so far, unique in Northern Quebec and open considerable exploration perspectives for the region.

Eighteen (18) mineralized zones and prospects delineate a cumulative 57-km length of prospective sectors within a 30 km by 10 km area centered on the Qalluviartuuq Intrusive Complex ("QIC"), an ovoid-shaped fluorite-topaz-bearing granitic intrusion. Key results are summarized on the appended figures:

  • Figure 1:  Location of targets and prospective sectors
  • Figure 2:  Gold and Silver mineralization
  • Figure 3:  Tellurium and Bismuth mineralization
  • Figure 4:  Tungsten and Tin mineralization
  • Figure 5:  Copper and Fluorite mineralization
  • Figure 6:  Drilling and channel results

The core area of the Rex South property, as shown on Figure 1, represents 382 km2 or 53% of the project's surface area. The significant mineral endowment of this area appears spatially linked with the QIC, which played a controlling role in the regional mineralization process. This context presents strong analogies with the characteristic features of the Reduced Intrusion-related gold deposit type (i.e., metallic assemblage, mineral zoning, alteration, nature of host rocks). Examples of this deposit type notably include the world-class Donlin Creek and Fort Knox gold deposits in Alaska .

Data was acquired during five months of field work from 2010 to 2012, which included a preliminary rotary drilling program in 2011 for a total of 4,934 m. Well-identified targets, including intrusion-related and IOCG targets, can now be concurrently advanced through a program of surface prospecting, airborne geophysics and Diamond drilling. Azimut's management considers Rex South a key asset for the Company.

The Rex South property comprises 1,661 claims with a surface area of 723.3 km2. It is located 140 km east of the shore of Hudson Bay , 130 km southeast of the Inuit coastal village of Puvirnituq , and 225 km southwest of Glencore's world-class Raglan nickel-PGE mine.

This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under National Instrument 43-101.

Azimut is a mineral exploration company holding the largest exploration portfolio in Nunavik. Azimut's core business is project generation using cutting-edge targeting methodologies to discover major ore deposits, along with partnership development. Azimut has 37.6 million shares issued, of which 48% are held by insiders and institutional shareholders. The Company has no debt and $2.0 million in working capital.

SOURCE Azimut Exploration Inc.

Read the rest of the article at finance.yahoo.com

Azimut Exploration Inc.

DEVELOPMENT STAGE
CODE : AZM.V
ISIN : CA3019501012
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Azimut Expl. is a gold and cobalt exploration company based in .

Azimut Expl. develops gold, cobalt and uranium in Canada, and holds various exploration projects in Canada.

Its main asset in development is CENTRAL MINTO in Canada and its main exploration properties are ELEONORE SOUTH, NORTH RAE, WEMINDJI, OPINACA (A, A-EAST, B AND B-NORTH), DANIEL LAKE, OPINACA, REX SOUTH, WABAMISK, SOUTH BIENVILLE, KATIVIC and LAC VOLANT in Canada.

Azimut Expl. is listed in Canada. Its market capitalisation is CA$ 26.8 millions as of today (US$ 21.4 millions, € 18.8 millions).

Its stock quote reached its lowest recent point on December 20, 2002 at CA$ 0.04, and its highest recent level on June 29, 2007 at CA$ 9.42.

Azimut Expl. has 45 460 000 shares outstanding.

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Financings of Azimut Exploration Inc.
3/1/2011announces a $5,200,000 non-brokered private placement
Project news of Azimut Exploration Inc.
6/16/2016Azimut and its partners launch a $2 million exploration prog...
4/21/2016Azimut announces Hecla will commence a $756,000 exploration ...
2/13/2014(Opinaca)announces Hecla Quebec will start a diamond drilling program...
2/22/2011(Rex South)Azimut further defines major Copper and Gold exploration tar...
2/22/2011(Rex South)further defines major Copper and Gold exploration targets at...
7/7/2010(Rex South)and Aurizon begin $1.5-million exploration program at the Re...
Corporate news of Azimut Exploration Inc.
7/25/2016Azimut closes $2,500,000 private placement
7/13/2016Azimut $2.3 million private placement financing oversubscrib...
7/11/2016Azimut announces $2.3 million private placement financing
6/7/2016Azimut: Extension of Expiry Date of Warrants
3/30/2016Azimut refines highly prospective gold target on the Eleonor...
1/22/2016New results in the Eleonore Camp strengthen the discovery po...
11/25/2015Azimut reports on Hecla Quebec's progress on the Opinaca B g...
10/7/2015Azimut acquires Duquet Property, Nunavik
10/5/2015Azimut: Corporate Update
3/24/2015Azimut grants stock options
3/24/2015grants stock options
3/19/2015Azimut: Strategic Update
3/19/2015Strategic Update
9/29/2014Azimut's airborne survey expands gold-polymetallic target at...
9/9/2014Azimut delineates major gold-polymetallic prospective zones ...
8/27/2014Azimut's airborne survey identifies high-quality targets at ...
7/3/2014Azimut commences an airborne geophysical survey at Nantais (...
7/3/2014commences an airborne geophysical survey at Nantais (Au, Ag,...
6/20/2014Azimut announces the closing of a $350,000 private financing
2/20/2014(Wabamisk)partner Goldcorp commences targeting phase on the Wabamisk g...
1/28/2014Strategic Update
11/7/2013(Opinaca)Hecla Mining renews its option on the Opinaca A & B gold pro...
7/30/2013grants stock options
2/14/2013adopts advance notice By-Law
1/17/2013expands its stake in Nunavik, Quebec
1/21/2011Updated Fact Sheet Azimut Exploration
4/4/2007Silver Spruce sign a Binding Letter of Intent for the Hudson...
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