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Azimut Exploration Inc.
Summary
| Project: | Eleonore | |
|---|---|---|
| Deposit: | Eleonore South | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/21/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-11-2016: Azimut Exploration Inc. announces an Exploration/Drilling Update report for its Eleonore South deposit at the Eleonore project. JV-Drilling results incl. 1.55m @ 76.1g/t Au from 152.95m. Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or | |
| Resources: | (Reserve, P+P): 23.44Mt @ 6.07g/t Au for 4.57Moz Au contained | |
| CP/QP: | [Overall Report]: Jean-Marc Lulin (Not Stated) | |
| ABSTRACT: | Longueuil, Quebec – Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) is pleased to announce that all results of the first phase of the diamond drilling program conducted this fall on the Eleonore South JV Property have been received, as well as new prospecting results. The most significant drill intercept is 76.1 g/t Au over 1.55 m (Hole ES16-57) and the most significant prospecting grade is 247.0 g/t Au from a mineralized boulder found in a trench near Hole ES16-57. This area is largely open along strike and occurs within the same tonalite body that hosts the Moni Prospect, about 600 metres to the northeast. These latest results and the previously announced channel sample results of up to 49.18 g/t Au over 4.0 m (see press release of November 3, 2016) underscore the Property’s potential for high-grade gold mineralization associated with a large-scale intrusion-related hydrothermal system. The second phase of the 5,000-metre drilling program will begin in early 2017. Table 1 presents the significant gold assays for the final seven (7) holes (ES16-53 to ES16-59) of the first drilling phase, in addition to the previously released results of November 3, 2016 (five holes: ES16-48 to ES16-52). Phase 1 totalled 2,510 metres for all 12 holes. Drill hole locations are shown on Figures 2 and 3. Hole ES16-53 (201 m) was drilled to complete the geological section between ES16-52 and ES16-49. An anomalous section grading 0.5 g/t Au over 19.5 m corresponds to mineralized tonalite with up to 1% sulphides (arsenopyrite, pyrite, pyrrhotite), associated with quartz-albite-actinolite±scheelite veins and micaceous stringers. | |
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