Symbol: AZM.TSX Venture
LONGUEUIL, QC, Nov. 25, 2015 /CNW Telbec/ – Azimut Exploration Inc. (“Azimut” or “the Company”) (TSXV: AZM) is pleased to report that Hecla Quebec Inc. (“Hecla”), a wholly owned subsidiary of Hecla Mining Company (NYSE-HL), has renewed its option to earn up to 60% interest on the Opinaca B Property in the immediate vicinity of Goldcorp's Éléonore gold mine in the James Bay region.
On the Opinaca B Property, Hecla has the option to earn up to a 60% interest from Azimut and Everton Resources Inc (TSXV: EVR), each company currently owning a 50% interest. A $60,000 option payment from Hecla was recently received by Azimut.
During the spring and summer of 2015, Hecla conducted a $394,000 exploration program comprising:
- A 40.5-km ground magnetic survey and a 21.8-km induced polarization (“IP”) survey;
- A prospecting program, including the sampling of 473 grab (rock) or float samples and 96 soil samples; and
- A trenching program, including the collection of 153 channel samples from six sites.
Results outlined a 150- to 200-m-wide package of IP anomalies in the D8 prospect area carrying anomalous gold values (up to 0.11 g/t Au). The best prospecting result was 3.0 g/t Au from a boulder of chloritized wacke with quartz-feldspar-tourmaline veinlets.
Recently 42 new claims (22 km2) have been added to the Opinaca B Property. These new claims provide better control on the possible extensions of already defined prospective targets.
A diamond drilling program is currently proposed for 2016 to test several high priority targets on the property.
This press release was prepared by geologist Jean-Marc Lulin acting as Azimut's Qualified Person under NI 43-101.
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, concurrently with partnership development.
SOURCE Azimut Exploration Inc.