Symbol: AZM.TSX Venture
The results from this initial phase of drilling indicates that gold-bearing mineralization occurs in three different orientations: 1) along an extensive set of veins oblique to the schistosity; 2) parallel to the schistosity; and 3) as flat-lying veins. Drill holes were oriented to intersect the three types of veins.
Azimut's management considers these results to be among the most significant gold exploration results in the
HIGHLIGHTS (see Tables 1 and 2, Figures 1 to 8)
Hole ELM19-001 | 0.62 g/t Au over 101.3 m (from 13.5 m to 114.8 m) including: |
0.78 g/t Au over 32.0 m (from 27.4 m to 59.4 m) | |
2.45 g/t Au over 8.0 m (from 85.0 m to 93.0 m) | |
Hole ELM19-002 | 3.15 g/t Au over 102.0 m (from 34.0 m to 136.0 m) including: |
5.15 g/t Au over 9.0 m (from 33.5 m to 42.5 m) | |
1.10 g/t Au over 28.5 m (from 58.7 m to 87.2 m) | |
10.1 g/t Au over 20.5 m (from 96.5 m to 117.0 m) | |
including 12.43 g/t Au over 6.0 m (from 99.5 m to 105.5 m) | |
and 107.0 g/t Au over 1.0 m (from 116.0 m to 117.0 m) | |
3.22 g/t Au over 11.0 m (from 125.0 to 136.0 m) | |
Hole ELM19-003 | 2.84 g/t Au over 108.2 m (from 34.3 m to 142.5 m) including: |
27.36 g/t Au over 4.7 m (from 34.3 m to 39.0 m) | |
including 254.0 g/t Au over 0.5 m (from 34.3 to 34.8 m) | |
4.65 g/t Au over 29.0 m (from 65.5 m to 94.5 m) | |
including 16.0 g/t Au over 6.5 m (from 78.0 m to 84.5 m) | |
2.2 g/t Au over 7.6 m (from 109.3 m to 116.9 m) | |
1.66 g/t Au over 6.0 m (from 121.0 m to 127.0 m) | |
1.08 g/t Au over 11.0 m (from to 131.5 m to 142.5 m) | |
Hole ELM19-004 | 1.68 g/t Au over 97.0 m (from 5.0 m to 102.0 m) including: |
4.16 g/t Au over 15.5 m (from 5.0 m to 20.5 m) | |
7.85 g/t Au over 5.5 m (from 25.5 m to 31.0 m) | |
including 80.0 g/t Au over 0.5 m (from 25.5 m to 26.0 m) | |
3.78 g/t Au over 11.0 m (from 44.5 m to 55.5 m) | |
including 59.5 g/t Au over 0.5 m (from 51.2 m to 51.7 m) | |
Hole ELM19-005 | 1.54 g/t Au over 54.1 m (from 28.4 m to 82.5 m) including: |
29.8 g/t Au over 0.5 m (from 28.4 m to 28.9 m) | |
2.53 g/t Au over 13.5 m (from 50.0 m to 63.5 m) | |
3.91 g/t Au over 5.6 m (from 74.8 m to 80.4 m) | |
including 37.0 g/t Au over 0.5 m (79.9m to 80.4 m) | |
Hole ELM19-006 | 1.15 g/t Au over 129.0 m (from 5.0 m to 134.0 m) including: |
3.38 g/t Au over 25.3 m (from 69.2 m to 94.5 m) | |
including 121.0 g/t Au over 0.5 m (from 70.2 m to 70.7 m) | |
1.49 g/t Au over 33.5 m (from 100.5 m to 134.0 m) | |
including 64.9 g/t Au over 0.5 m (from 104.6 m to 105.1 m) | |
Hole ELM19-007 | 1.93 g/t Au over 82.0 m (from 21.0 m to 103.0 m) including: |
3.46 g/t Au over 44.1 m (from 30.0 m to 74.1 m) | |
including 13.09 g/t Au over 6.6 m (from 34.4 m to 41.0 m) | |
and 25.35 g/t Au over 1.9 m (from 45.4 m to 47.3 m) |
_________________________
Based on previously reported surface information (see press releases of
- Cut perpendicularly the main vein system striking NW-SE, with six holes totalling 849 metres (holes ELM19-001 to 006) in two parallel 40-metre-spaced drill sections of three drill holes each; and
- Cut perpendicularly shear veins striking NE-SW subparallel to the schistosity with one hole (ELM19-007, 147 m); schistosity is roughly parallel to the fabric of the magnetic gradient and to lithological contacts (see Figure 4).
The drilling program provided the following critical preliminary information:
- Gold mineralization is related to different sets of quartz veins and veinlets and their wall rocks, and more locally to metre-scale hydrothermal breccias. Quartz veining seems to be principally related to a felsic intrusion, either at or close to the lithological contacts between the intrusion and the surrounding mafic volcanics and gabbros.
- Three sets of quartz veins contain gold, two of which corroborate surface observations:
- Subvertical veins striking NW-SE (main system);
- Veins striking NE-SW, subparallel to the schistosity and dipping 65o to 80o to the north; and
- Subhorizontal veins so far observed in drill core only.
- Variable amounts of pyrite (1% to 30%) are present as coarse-grained disseminations or centimetric stringers, both forms associated with quartz veining and their wall rocks.
- Native gold grains are frequent, generally associated with quartz veins, or as isolated grains in pyrite stringers (see Table 2).
- Gold-bearing facies are accompanied by pervasive silica, chlorite, sericite and carbonate alteration, and occasionally by tourmaline seams in quartz veins.
- The following interpretation at this early discovery stage is based on the results of 7 drill holes and detailed surface sampling:
- Mineralization has been recognized over a 200 metres length (open laterally to the NE and SW) with an apparent width at surface ranging from 50 to 70 metres;
- Mineralization is known down to 100 metres, open at depth;
- The principal control on mineralization appears to be a dextral NE-SW shear zone generating two main vein sets: NE-SW shear veins and NW-SE extensional veins (Riedel type);
- Both vein types commonly display sulphide-rich wall rocks; and
- The intensity of quartz veining in the felsic intrusion may be partly controlled by the rheologic contrast with the surrounding mafic host rocks.
- The detailed geometric relationships between drill hole intercepts will be better defined with further data analysis and additional drilling.
- The Patwon Prospect, located in a central position on the Property, has potential kilometre-scale strike extensions that have seen very little exploration. Two high-grade occurrences (25.2 g/t Au over 1.0 m, 12.65 g/t Au), respectively 270 metres and 840 metres SW of Patwon, underscore the potential of this area, which is part of a larger 7-kilometre-long high-potential target zone (see Figures 2 and 3).
- A detailed induced polarization survey is currently underway over all three prospects on a 2.1 kilometre by 0.7 kilometre grid (see Figure 3). It is expected that this survey will be an efficient method to generate quality drill targets.
The Elmer Property and the adjacent wholly owned Duxbury Property provide Azimut with a controlling position over a 35-kilometre-long segment of a prospective greenstone belt. Both properties were staked following the Company's predictive modelling for gold in the
Elmer comprises 276 claims covering 145.4 km2 over a 22-kilometre strike length. Duxbury, located to the east, covers a further 13 km along strike. The projects are located 285 kilometres north of
Drilling contract and analytical protocol
The drilling contract was awarded to
Drill core samples were sent to ALS Minerals in
This program has been made possible thanks to the financing completed in fall 2019 which involved the following six
This press release was prepared by Dr.
About Azimut
Azimut is a mineral exploration company whose core business is 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 58.5 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Azimut's other high-potential properties in the
- 4 gold properties in the Eleonore camp (Eleonore South JV, Opinaca A, Opinaca B, Opinaca D);
- 6 copper and copper-gold properties with strong regional-scale footprints (Kukamas,
Masta , Corvet, Kaanaayaa, Corne, Mercator).
Neither
SOURCE
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