Azimut: Strategic Update
Published : January 28, 2014
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Keywords :   Copper | Debt | Gold | Iron | Rare Earth | Tungsten |

Azimut: Strategic Update

Symbol: AZM.TSX Venture

LONGUEUIL, QC, Jan. 28, 2014 /CNW Telbec/ - Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) is pleased to provide an update on the Company's advancement and to highlight its core strategy. Azimut holds the largest mineral exploration portfolio in Quebec.

Azimut is a leading project generation company in the province of Quebec, recognized as one of the most favourable mining jurisdictions worldwide. Azimut uses a rigorous technical approach and consistent financial discipline to overcome the systemic risk faced by mineral exploration companies. Azimut, with 36.4 million shares issued of which 45% are held by insiders and institutional shareholders, has no debt and $2.3 million in working capital.

In the past 10 years, Azimut has concluded 30 option agreements on its properties with junior and major partners, including deals with Rio Tinto, Goldcorp, IAMGOLD and Hecla Mining. Azimut firmly maintains its business strategy of developing new partnerships on its key properties.

Azimut has developed province-scale modelling of Quebec's mineral potential with a focus on gold, copper and strategic metals. Strategic land holdings have been established in several regions, most notably in the Eleonore gold camp in the James Bay region and along a 330-km polymetallic copper-gold-tungsten mineral belt in Nunavik.

Eleonore Gold Camp, James Bay Region

Azimut owns interests in five (5) gold properties in the James Bay region, four (4) of which are located in the vicinity of Goldcorp's Eleonore gold property with the fifth being further to the south (see press release on November 7, 2013). Production at the Eleonore mine is scheduled to begin in 2014 with an estimated average annual output of more than 600,000 ounces of gold over an approximate 15-year mine life. Azimut's James Bay property portfolio includes:

  • Eleonore South (Au):  26.4% Azimut, 36.8% Goldcorp, 36.8% Eastmain JV
  • Opinaca A and Opinaca B (Au):  50% Azimut, 50% Everton JV, Hecla Option
  • Wabamisk (Au):  51% Goldcorp, 49% Azimut
  • Opinaca D (Au): 100% Azimut
  • Eastmain West (Cr, PGE, Ni): 100% Azimut

All the properties under JV and option will be subject to partner-funded exploration programs in 2014. Program specifications will be provided as soon as they are finalized.

Nunavik Copper-Gold Trend

Azimut acquired key properties in northern Quebec to establish a commanding position over a strong copper anomaly identified by the provincial government's regional lake-bottom sediment survey data (see press releases on January 17, 2013 and June 12, 2012). This 330-km-long copper anomaly is coincident with a strong 100-km-long rare earth anomaly. This region appears to be a new mineral belt of major importance. Azimut's management believes the belt has the potential to host large-scale Iron Oxide Copper Gold (IOCG) deposits, intrusion-related polymetallic deposits, and sediment-hosted gold deposits.

Azimut's salient properties in Nunavik include:

  • Rex (Cu, Au, REE)
  • Rex South (Cu, W, Au, Ag, Te)
  • Nantais (Au, Ag, Cu, Zn)
  • Diana (Ni, Cu, Co, PGE)
  • Qassituq (PGE, Ni, Cu)

All these properties are 100% owned by Azimut. During the past few years, extensive exploration work, performed most notably on the Rex, Rex South and Nantais properties, has led to the discovery of numerous outcropping mineralized zones. Future programs are designed to rapidly advance these properties to the drilling stage and will depend on the conclusion of new partnerships.

Azimut is a mineral exploration company with the objective of discovering major ore deposits. The Company's core business is project generation using cutting-edge targeting methodologies, along with partnership development.

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Azimut Exploration Inc.

For further information:

Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 - Fax: (450) 646-3045

Azimut Exploration Inc.

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$ 72.7 millions as of today (US$ 58.2 millions, € 50.9 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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