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LONGUEUIL, Quebec, Jan. 04, 2024 (GLOBE NEWSWIRE) — Azimut Exploration Inc. (“Azimut” or the “Firm”) (TSXV: AZM) (OTCQX: AZMTF) is happy to announce that it has filed on SEDAR+ an unbiased Technical Report (the “Report”) ready in accordance with Nationwide Instrument 43-101 for the Patwon Gold Zone on its 100% owned Elmer Property within the Eeyou Istchee James Bay area of Quebec, Canada.
The Report, titled “Technical Report and Preliminary Mineral Useful resource Estimate for the Patwon Deposit, Elmer Property, Quebec, Canada”, is dated January 4, 2024, and helps the disclosure in a press launch issued by the Firm on November 21, 2023, of an preliminary Mineral Useful resource Estimate (“MRE”) for the Patwon Gold Zone. There isn’t a distinction between the Report and the data disclosed within the November 21 press launch.
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The Report could be discovered below the Firm’s profile on SEDAR+ (www.sedarplus.ca) and on Azimut’s web site (www.azimut-exploration.com).
As disclosed within the press launch of November 21, 2023, the preliminary MRE contains:
- Indicated sources: 311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au
- Inferred sources: 513,900 ounces in 8.22 million tonnes grading 1.94 g/t Au
These mineral sources embody:
- Open-pit mineral sources (0.55 g/t Au cut-off)
- Indicated: 309,200 ounces in 4.97 million tonnes grading 1.93 g/t Au
- Inferred: 310,700 ounces in 4.21 million tonnes grading 2.29 g/t Au
- Bulk underground mineral sources (1.05 g/t Au cut-off)
- Inferred: 163,700 ounces in 3.49 million tonnes grading 1.46 g/t Au
- Selective underground mineral sources (1.90 g/t Au cut-off)
- Indicated: 2,000 ounces in 0.022 million tonnes grading 2.83 g/t Au
- Inferred: 39,500 ounces in 0.52 million tonnes grading 2.36 g/t Au
Notes: These mineral sources usually are not mineral reserves as they don’t have demonstrated financial viability. The MRE follows present CIM Definition Requirements (2014) and CIM MRMR Greatest Observe Tips (2019). The unbiased and certified individuals (“QPs”) for the mineral useful resource estimate, as outlined in NI 43-101, are Martin Perron, P.Eng., Chafana Hamed Sako, P.Geo., and Simon Boudreau, P.Eng., all from InnovExplo Inc. The efficient date is November 14, 2023.
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A sensitivity evaluation signifies low variability of the MRE below varied gold value and cut-off grade situations, underscoring the robustness of the Patwon Zone.
Preliminary metallurgical exams point out non-refractory free-milling gold that’s simply recoverable by way of a mix of gravity circuit and standard cyanide leaching. Restoration charges attain as much as 94%, with gravity recoveries as much as 37%.
The MRE confirms the standard of the gold mineralization within the Patwon Zone and helps further exploration to additional broaden the mineral stock in its neighborhood. Moreover, Azimut considers the 35-kilometre-long Elmer Property to stay at an early exploration stage with sturdy gold potential. Two aims have been outlined for the upcoming drilling program, which is scheduled to start in March 2024:
- Develop the Patwon Gold Zone, which stays open near-surface alongside strike, utilizing shallow drill holes from floor right down to a vertical depth of 300 metres; and
- Observe up on important gold-bearing zones alongside shear zones instantly on strike or subparallel to Patwon. The principle drill-ready goal zones have a cumulative strike size of 20.5 kilometres.
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Certified Individuals
InnovExplo Inc., a mining consulting agency primarily based in Val-d’Or (Quebec), ready the MRE as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”). The unbiased certified individuals for the MRE, throughout the that means of NI 43-101, are Martin Perron (P.Eng.), Chafana Hamed Sako (P.Geo.) and Simon Boudreau (P.Eng.), all from InnovExplo Inc.
Dr. Jean-Marc Lulin (P.Geo.) ready this press launch as Azimut’s certified particular person throughout the that means of NI 43-101.
About Azimut
Azimut is a number one mineral exploration firm with a stable status for goal era and partnership growth. The Firm holds the biggest mineral exploration portfolio in Quebec (Canada). Its wholly owned flagship mission, the Elmer Gold Challenge, has superior to the useful resource stage with a powerful exploration upside. The Firm additionally controls a strategic land place for copper, gold, nickel and lithium (see the doc: Azimut in Numbers).
The Firm makes use of a pioneering method to large knowledge analytics (the proprietary AZtechMine™ professional system) enhanced by intensive exploration know-how. Azimut’s aggressive edge relies on systematic regional-scale knowledge evaluation and concurrently lively initiatives. The Firm maintains rigorous monetary self-discipline and a powerful steadiness sheet, with 85.2 million shares issued and excellent.
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Contact and Info
Jean-Marc Lulin, President and CEO
Tel.: (450) 646-3015
Jonathan Rosset, Vice President Company Growth
Tel: (604) 202-7531
information@azimut-exploration.com www.azimut-exploration.com
Cautionary notice 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 on the Elmer Property. To the extent that any statements on this press launch comprise data that isn’t historic, the statements are primarily forward-looking and are sometimes recognized by phrases akin to “take into account”, “anticipate”, “anticipate”, “estimate”, “intend”, “mission”, “plan”, “potential”, “recommend” and “consider”. The forward-looking statements contain dangers, uncertainties, and different elements that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. There are a lot of elements that might trigger such variations, significantly 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, surprising geological situations, antagonistic mining situations, neighborhood 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 vital 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 affordable, 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, apart from as required to take action by relevant securities legal guidelines. The reader is directed to fastidiously evaluate the detailed threat 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 Companies 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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