3.92% Sb, 0.3 g/t Au over 14.0 m including 11.84% Sb, 1.18 g/t Au over 3.0 m (channel sampling, open in all directions)
5,000-metre maiden drilling program to start in November
LONGUEUIL, Quebec, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. ("Azimut” or the "Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the discovery of a 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.
In 2022, Azimut regained a 100% interest in the Property after Newmont withdrew from its 51% interest in the joint venture project (see press releases of August 8 and September 9, 2022). Azimut staked the Property in 2003 and optioned it to Placer Dome in 2005 before the option was transferred to Goldcorp and then Newmont. Since regaining full control of the Property, Azimut reprocessed the property's large database to rank exploration targets. Substantial underexplored gold targets have been prioritized, particularly the Fortin Zone, for which results are reported today.
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 (prospecting, induced polarization and magnetism, lake sediment, till and soil geochemistry) support a minimum 3.5-kilometre length for the antimony-gold exploration corridor. Significant additional work is needed to appraise its full potential.
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 will be drilled in early 2025. With approximately $9 million in its treasury, the Company is fully funded for this drill program.
Discovering 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 below). Based on public data, Wabamisk's antimony results are among the best in Quebec. Wabamisk could become a key driver in Azimut's exploration initiatives for 2025.
HIGHLIGHTS (see Figures 1 to 10, Photos 1 to 6)
- The 2024 summer prospecting program yielded 311 grabs and 28 channel samples. One of the objectives was to reassess a previously identified target area with known gold-antimony mineralization.
- 87 samples (21 from channels, 30 grabs and 36 sawed) were collected from the 1.0 by 3.5-kilometre target area. The results, which reveal significantly higher grades and better continuity than previously recognized, include 52 samples returning grades higher than 0.5% Sb:
- 29 samples grading 1.0% to 5.0% Sb; and
- 13 samples grading higher than 5.0% Sb, up to a maximum of 24.8% Sb.
The best channel (channel #1) returned:
- 3.92% Sb and 0.3 g/t Au over 14.0 m, including 11.84% Sb and 1.18 g/t Au over 3.0 m
Channel #1 (see Figure 10)
| Sample ID | Sb (%) | Au
(g/t) | Weight (kg) | From (m) | To (m) | Length
(m) |
| E6320501 | 13.75 | 1.71 | 4.89 | 0 | 1 | 1.0 |
| E6320502 | 12.45 | 0.42 | 5.77 | 1 | 2 | 1.0 |
| E6320503 | 9.31 | 1.42 | 4.78 | 2 | 3 | 1.0 |
| E6320504 | 0.62 | 0.08 | 5.34 | 3 | 4 | 1.0 |
| E6320505 | 1.11 | 0.07 | 6.29 | 4 | 5 | 1.0 |
| E6320506 | 3.56 | 0.03 | 5.14 | 5 | 6 | 1.0 |
| E6320507 | 2.50 | 0.04 | 3.70 | 6 | 7 | 1.0 |
| E6320508 | 1.16 | 0.04 | 3.46 | 7 | 8 | 1.0 |
| E6320509 | 1.26 | 0.04 | 3.73 | 8 | 9 | 1.0 |
| E6320510 | 0.47 | 0.02 | 4.09 | 9 | 10 | 1.0 |
| E6320511 | 1.81 | 0.03 | 4.46 | 10 | 11 | 1.0 |
| E6320512 | 2.66 | 0.05 | 4.46 | 11 | 12 | 1.0 |
| E6320513 | 3.74 | 0.14 | 3.79 | 12 | 13 | 1.0 |
| E6320514 | 0.44 | 0.02 | 3.72 | 13 | 14 | 1.0 |
Other channel and rock grab samples (grades higher than 1.0% Sb)
| Sample ID | Sb
(%) | Au (g/t) | Weight (kg) | Sample Type |
| E6320459 | 24.80 | 1.35 | 3.18 | Sawed |
| E6320458 | 19.65 | 0.05 | 4.22 | Sawed |
| E6320453 | 18.15 | 0.01 | 2.26 | Sawed |
| G353682 | 17.65 | 2.48 | 1.68 | Sawed |
| G353751 | 17.10 | 1.22 | 1.51 | Grab |
| G353752 | 14.95 | 0.82 | 1.72 | Grab |
| G353753 | 12.50 | 3.47 | 2.38 | Sawed |
| G353527 | 8.04 | 0.59 | 1.02 | Sawed |
| E6320452 | 7.85 | 0.00 | 2.25 | Sawed |
| E6320451 | 6.83 | 0.07 | 1.89 | Sawed |
| E6320455 | 4.69 | 7.27 | 2.01 | Grab |
| G353533 | 4.64 | 0.14 | 1.28 | Sawed |
| E6320515 | 4.00 | 0.02 | 4.30 | Channel |
| G353537 | 3.52 | 0.05 | 1.20 | Sawed |
| G353526 | 3.28 | 0.13 | 1.75 | Sawed |
| G353683 | 3.16 | 0.00 | 1.05 | Sawed |
| G353535 | 2.22 | 0.12 | 1.07 | Grab |
| G353542 | 2.19 | 0.06 | 1.67 | Sawed |
| G353534 | 2.12 | 0.12 | 1.16 | Sawed |
| Sample ID | Sb (%) | Au (g/t) | Weight (kg) | Sample Type |
| E6320454 | 1.81 | 0.33 | 2.74 | Sawed |
| G353532 | 1.59 | 0.00 | 1.18 | Sawed |
| G353528 | 1.51 | 0.15 | 1.52 | Sawed |
| G353684 | 1.44 | 5.76 | 1.55 | Sawed |
| G353529 | 1.41 | 0.22 | 1.26 | Sawed |
| G353539 | 1.36 | 0.30 | 1.21 | Grab |
| E6320460 | 1.31 | 0.03 | 1.93 | Grab |
| G353538 | 1.18 | 0.05 | 1.19 | Grab |
| G353756 | 1.11 | 0.10 | 1.59 | Sawed |
| G353760 | 1.08 | 1.00 | 1.36 | Sawed |
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