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Revealed Jan 16, 2025 • 10 minute learn
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1.08% Sb over 22.70 m together with 1.74% Sb, 1.15 g/t Au over 9.50 m
1.01% Sb over 17.85 m together with 6.44% Sb, 0.67 g/t Au over 2.35 m
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5,000-metre drilling program has resumed
LONGUEUIL, Quebec, Jan. 16, 2025 (GLOBE NEWSWIRE) — Azimut Exploration Inc. (“Azimut” or the “Firm”) (TSXV: AZM) (OTCQX: AZMTF) is happy to announce preliminary outcomes from its diamond drilling program on the antimony-gold Fortin Zone on its wholly owned
Wabamisk Property (the “Property”) within the Eeyou Istchee James Bay (“James Bay”) area of Quebec. This program was initiated in late 2024 to observe up on the floor discovery of this zone within the fall (see press releases of October 29 and December 2, 2024). Within the face of a world antimony provide scarcity (see beneath), Azimut has ranked Wabamisk one among its high priorities and plans to quickly advance the undertaking in 2025.
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The outcomes reported right now affirm the presence of a sturdy mineralized antimony-gold system with appreciable exploration potential. The Fortin Zone presents as a broad mineralized envelope containing high-grade antimony intervals, doubtlessly indicative of high-grade ore shoots. Up to now, drilling has examined solely a small portion of a well-defined, multi-kilometre-long goal.
As well as, the jap a part of Wabamisk has vital lithium potential, highlighted by the latest discovery of an intensive spodumene pegmatite subject (the “Lithos Goal”) (see press launch of December 9, 2024).
HIGHLIGHTS (see Figures 1 to 7 and Tables 1 and a couple of)
The primary drilling part in December totalled 2,090 metres in 17 holes. Assay outcomes reported on this press launch symbolize 36% of the collected core samples, with the opposite 64% nonetheless pending. The second part commenced in January, with 3,000 metres deliberate.
Vital outcomes up to now:
| • Gap WS24-06: | 1.08% Sb, 0.53 g/t Au over 22.70 m (from 78.5 m to 101.2 m), together with | |
| 1.74% Sb, 1.15 g/t Au over 9.5 m (from 79.5 m to 89.0 m) | ||
| • Gap WS24-02: | 1.01% Sb, 0.15 g/t Au over 17.85 m (from 20.15 m to 38.0 m), together with | |
| 6.44% Sb, 0.67 g/t Au over 2.35 m (from 20.15 m to 22.5 m) | ||
| • Gap WS24-13: | 0.87% Sb, 1.41 g/t Au over 9.15 m (from 13.4 m to 22.55 m), together with | |
| 0.41% Sb, 7.35 g/t Au over 1.40 m (from 19.6 m to 21.0 m) | ||
| • Gap WS24-04: | 0.64% Sb, 0.38 g/t Au over 19.0 m (from 14.5 m to 33.5 m), together with | |
| 1.05% Sb, 0.73 g/t Au over 8.7 m (from 15.8 m to 24.5 m), and | ||
| 5.74 g/t Au over 1.0 m (from 22.0 m to 23.0 m) | ||
| • Gap WS24-01: | 0.51% Sb over 17.55 m (from 24.0 m to 41.55 m), together with | |
| 1.30% Sb over 2.0 m (from 24.0 m to 26.0 m), and | ||
| 1.09% Sb over 2.5 m (from 34.5 m to 37.0 m) | ||
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Preliminary options of the mineralized physique
- Antimony sulphides (stibnite: Sb2S3) have been noticed in all 17 holes drilled to this point over a 1.2-kilometre east-west strike. The mineralized system is open alongside strike and at depth.
- Mineralization is usually hosted inside a planar feldspar porphyry intrusive physique, interpreted as a sill, subparallel to different lithological items and the schistosity. Mineralization is especially nicely developed alongside sheared contacts between the porphyry sill and the metasedimentary rocks (siltstones) on both facet. Metamorphism is on the higher greenschist facies and should have reached amphibolite facies.
- Antimony mineralization seems as semi-massive to disseminated stibnite inside a multi-metre-thick envelope of intense quartz veining, principally subparallel to the east-west schistosity. North-south multi-centimetre-thick quartz-stibnite veins additionally crosscut the schistosity. Arsenopyrite, pyrrhotite and pyrite are additionally current (1% to three%). Stockwork and brecciated facies have yielded the best antimony grades. Sericite is the principle alteration mineral, domestically accompanied by chlorite, epidote and carbonate.
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- The 2024 exploration program demonstrated the Fortin antimony-rich system via channel sampling (3.92% Sb over 14.0 m) and seize samples (up to
24.8% Sb) collected alongside a 1.2-kilometre strike size. Gold (up to 7.27 g/t Au in grabs) is commonly related to antimony. Mineralized outcrops show kermesite, a darkish reddish mineral named kermesite, ensuing from the partial oxidation of stibnite (see press launch of October 29, 2024). Be aware that seize samples are selective by nature and unlikely to symbolize common grades.
Goal footprint and potential dimension
Primarily based on present floor and drilling information, the stibnite-bearing porphyry sill has a minimal
east-west strike size of two.5 kilometres and a width starting from 20 to 50 metres. It dips steeply to the south.
Magnetic and induced polarization (“IP”) information correlate nicely with antimony mineralization, suggesting a goal space at the least 3.5 kilometres lengthy. That is additional supported by a distinguished coincident antimony anomaly in soil, until, and lake sediments. The multi-kilometre lateral continuity of the porphyry sill might point out a kilometre-scale vertical extension of the intrusive physique.
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A subparallel pattern, roughly 300 m to the south, is marked by magnetic and IP axes coinciding with a number of gold showings. This hall, a lot much less explored, represents one other high quality goal space.
Drilling technique
The strike extent of the Fortin Zone will proceed to be outlined utilizing 100-metre-spaced shallow drill holes. Essentially the most promising components of the system shall be additional delineated with extra drilling, together with deeper holes. This method will check the vertical continuity of potential high-grade ore shoots (>2% Sb). Vertical zoning, characterised by antimony-rich zones at comparatively shallow depths and elevated gold grades at higher depths, may also be investigated, as this sample is noticed in a number of antimony-gold deposits.
About Antimony
Provide scarcity danger
Antimony (chemical image: Sb) is listed as a vital mineral by the Canadian and United States governments and the European Fee. 5 nations account for about 91% of the world’s manufacturing, estimated to be 83,000 tonnes in 2023, together with China (48.2%) and Tajikistan (25.3%). Antimony will not be presently mined in Canada or the United States. In August 2024, China imposed restrictions on the export of antimony, which led to a big export discount in October, growing the chance of provide disruptions. Costs have risen sharply in 2024, reaching an all-time excessive of roughly US$40,000 per tonne for antimony steel on the worldwide market in December 2024. For comparative functions, copper averaged about US$9,000 per tonne on the finish of 2024.
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Mineral deposit varieties and grades
Most antimony deposits happen in siliciclastic sedimentary rocks with vital fault and fracture methods. Stibnite is the commonest ore mineral. The principle deposit varieties correspond to hydrothermal methods with antimony as the first commodity or as a byproduct in gold deposits. Quartz-stibnite and alternative deposits account for many of the present mining manufacturing. These deposits sometimes kind the peripheral components of orogenic and intrusion-related gold deposits. Consultant examples embody Xikuangshan in China (mining reserves of 11.5 Mt at 3.5% Sb in 1980) and Sarylakh in Russia (assets of two.17 Mt at 6% Sb and 6 g/t Au). Canadian examples embody Beaver Brook in Newfoundland and Lake George in New Brunswick. The traditional instance of an Archean deposit is the past-producing Consolidated Murchison mine in South Africa. The above tonnage and grade references are historic and don’t correspond to Nationwide Instrument 43-101 requirements. This part’s fundamental supply of data is USGS Skilled Paper 1802-C (2017).
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Essentially the most superior gold-antimony mining undertaking in North America is the Stibnite Gold Venture (Idaho, USA) owned by Perpetua Assets Corp. Present confirmed and possible mineral reserves are as follows: 104.6 Mt at 1.43 g/t Au and 0.064% Sb (Perpetua’s January 2025 Investor Presentation and Stibnite Gold Venture Feasibility Examine Technical Report, dated December 22, 2020 and ready by M3 Engineering & Know-how Corp.).
Concerning the Wabamisk Property
Wabamisk is a completely owned undertaking (39.5 km by 9.2 km) comprising 544 claims overlaying 287.9 sq. kilometres. It lies 13 kilometres east of the Clearwater Property (Fury Gold Mines), 42 kilometres northeast of the Whabouchi lithium deposit (Nemaska Lithium), and 70 kilometres south of the Eleonore gold mine (Newmont). Main powerlines cross via or near the property’s jap finish, and the North Street freeway passes 37 kilometres to the south. The closest city is Nemaska, a Cree village municipality 55 kilometres to the southeast.
The Property is located within the La Grande volcano-plutonic Archean Subprovince, near the boundary with the Opinaca metasedimentary Subprovince. Wabamisk covers volcano-sedimentary items of the Eastmain greenstone belt, surrounded by intrusive rocks (tonalite, granodiorite). A number of intensive east-west shear zones mark the principle lithological boundaries. Wabamisk covers one of many strongest and most intensive antimony-arsenic lake sediment anomalies on the scale of the James Bay area (176,300 km2). The antimony-gold hall is related to an intensive shear zone between a large metasedimentary unit to the north (the Auclair Formation) and a mafic volcanic bundle to the south (the Natel Formation).
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Drilling, Analytical Protocols and Administration
Nouchimi / RJLL Drilling Inc. of Rouyn-Noranda, Quebec, has been contracted to conduct the drilling program utilizing an NQ core diameter.
Samples are despatched to ALS Laboratories in Val-d’Or, Quebec, the place gold is analyzed by hearth assay with atomic absorption and gravimetric finishes for grades above 3.0 g/t Au. Samples are additionally analyzed for a 48-element suite utilizing ICP. Overlimit antimony assays (1%) are reanalyzed utilizing four-acid digestion and ICP-AES. Azimut applies industry-standard QA/QC procedures to its drilling packages. All batches despatched for evaluation embody licensed reference supplies, blanks and subject duplicates.
The undertaking is beneath the path of Alain Cayer (P.Geo.), Venture Supervisor.
Certified Individual
Dr. Jean-Marc Lulin (P.Geo.), Azimut’s President and CEO, has ready this press launch and authorised the scientific and technical data disclosed herein, performing because the Firm’s certified particular person throughout the that means of Nationwide Instrument 43-101.
About Azimut
Azimut is a number one mineral exploration firm with a strong fame for goal era and partnership growth. The Firm holds the biggest mineral exploration portfolio in Quebec, controlling strategic land positions for gold, copper, nickel and lithium.
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Its wholly owned flagship undertaking, the Elmer Gold Venture, is on the useful resource stage (311,200 oz Indicated; 513,900 oz Inferred*) and has a powerful exploration upside. Azimut can also be advancing the Galinée lithium discovery with its three way partnership associate SOQUEM Inc. As well as, vital exploration progress has been made in 2024 on the next initiatives: Wabamisk (antimony-gold; lithium), Kukamas (nickel-copper-PGE) and Pilipas (lithium).
Azimut makes use of a pioneering method to large information analytics (the proprietary AZtechMine™ professional system) enhanced by intensive exploration know-how. The Firm’s aggressive edge relies on systematic regional-scale information evaluation. Azimut maintains rigorous monetary self-discipline and a powerful steadiness sheet, with 85.7 million shares issued and excellent.
Contact and Data
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015 – Fax: (450) 646-3045
Jonathan Rosset, Vice President Company Growth
Tel.: (604) 202-7531
data@azimut-exploration.com www.azimut-exploration.com
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* “Technical Report and Preliminary Mineral Useful resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada”, ready by: Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., Vincent Nadeau-Benoit, P.Geo. and Simon Boudreau, P.Eng. of InnovExplo Inc., dated January 4, 2024.
Cautionary be aware concerning forward-looking statements
This press launch comprises forward-looking statements, which replicate the Firm’s present expectations concerning future occasions associated to the drilling outcomes from the Wabamisk Property. To the extent that any statements on this press launch comprise data that’s not historic, the statements are basically forward-looking and are sometimes recognized by phrases reminiscent of “take into account”, “anticipate”, “anticipate”, “estimate”, “intend”, “undertaking”, “plan”, “potential”, “counsel” and “consider”. The forward-looking statements contain dangers, uncertainties, and different components that would trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. Many components might trigger such variations, notably volatility and sensitivity to market steel costs, the impression of adjustments in international forex alternate charges and rates of interest, imprecision in reserve estimates, recoveries of gold and different metals, environmental dangers together with elevated regulatory burdens, sudden geological situations, adversarial mining situations, group and non-governmental group actions, adjustments in authorities rules and insurance policies, together with legal guidelines and insurance policies, world outbreaks of infectious illnesses, together with COVID-19, and failure to acquire essential permits and approvals from authorities authorities, in addition to different growth and working dangers. Though the Firm believes that the assumptions inherent within the forward-looking statements are cheap, undue reliance shouldn’t be positioned on these statements, which solely apply as of the date of this doc. The Firm disclaims any intention or obligation to replace or revise any forward-looking assertion, whether or not because of new data, future occasions or in any other case, aside from as required to take action by relevant securities legal guidelines. The reader is directed to fastidiously assessment the detailed danger dialogue in our most up-to-date Annual Report filed on SEDAR+ for a fuller understanding of the dangers and uncertainties that have an effect on the Firm’s enterprise.
Neither TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
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