Azimut and Mont Royal Discover High-Grade Nickel-Copper Massive Sulphide at Wapatik
2.68% Ni, 1.30% Cu and 0.09% Co over 3.30 m Follow-up Drilling Underway
LONGUEUIL, QC, June 29, 2022 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce the discovery of nickel-copper massive sulphide mineralization during its maiden diamond drilling program on the Wapatik Property ("the Property"). Associated with an ultramafic intrusion, the mineralized interval corresponds to an electromagnetic conductor with excellent chances for expansion. A minimum 6-hole (1,050-metre) follow-up program is already underway to further delineate the shape and extent of this discovery. Other attractive targets within the intrusion may also be drill-tested.
The Property, located in the Eeyou Istchee James Bay region of Quebec, is under option to Mont Royal Resources Limited ("Mont Royal") (ASX: MRZ). Mont Royal can acquire an initial 50% interest in the Property by spending $4 million in exploration expenditures over four (4) years and can earn a further 20% interest with an additional investment of $3 million and the delivery of a preliminary economic assessment over three (3) years. Azimut is the operator.
HIGHLIGHTS ( see Figures 1 to 3, Photo 1 and Table 1)
2.68% Ni, 1.30% Cu, 0.09% Co over 3.30 m from 143.4 m to 146.7 m along hole WAP22-003 (vertical depth of 110 metres),
including:3.63% Ni, 0.48% Cu, 0.12% Co over 1.0 m, and 3.04% Ni, 0.75% Cu, 0.10% Co over 1.1 m.
This initial drilling interval is one of the best nickel-copper results recorded in the James Bay region, based on public data (SIGEOM). It strongly supports Azimut's view that the region is underexplored for nickel-copper deposits despite its favourable geological context (see Azimut's press release of November 30, 2021).
The massive to semi-massive sulphide mineralization in the interval comprises coarse-grained pentlandite, chalcopyrite and pyrrhotite. It displays brecciated textures containing angular to subangular fragments of ultramafic rocks and metasediments. The mineralized section is schematically positioned at the interface between overlying ultramafic intrusive rocks and underlying foliated host rocks dominated by pyrrhotite-bearing metasediments.
This interval indicates the potential for sulphide accumulation at the bottom of the intrusion with an interpreted basin-shaped geometry, supported by 3D magnetic inversion modelling (see press release of April 19, 2022).
The maiden drilling program consisted of four (4) holes for 1,068 m (holes WAP22-001 to 004). These holes still need to be fully described and assayed. The program was designed to test conductors identified by an electromagnetic (SQUID) ground survey.
Pulse-EM borehole surveys were performed to maximize the search radius for each hole and provide information about the possible extension of any conductors encountered. Survey results revealed in-hole and off-hole anomalies, notably in hole WAP22-003. TMC Geophysics of Val-d'Or (Quebec) conducted the surveys.
https://www.newswire.ca/news-releases/azimut-and-mont-royal-discover-high-grade-nickel-copper-massive-sulphide-at-wapatik-889625963.html
What a fantastic start. Low shares on issue - 20 mil market cap. Bring on tomorrow!!!
High-Grade Nickel-Copper Massive Sulphides at Wapatik
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