Azimuts partner Goldcorp to drill at Wabamisk, James Bay region

Azimuts partner Goldcorp to drill at Wabamisk, James Bay region

Azimut Exploration Inc. reports that its partner Goldcorp Inc. will start a 2,800-metre diamond drilling program in early February to test several quality gold targets on the Wabamisk property in the James Bay region, Quebec. Wabamisk is located 70 km south of Goldcorp’s Eleonore property that hosts the Roberto gold deposit. Azimut considers that the Wabamisk property shares several characteristics with Eleonore, particularly the presence of gold-enriched altered metasedimentary rocks occurring in the vicinity of the contact between the La Grande and Opinaca geological subprovinces.

The minimum 12-hole drilling program is designed to test induced polarity (IP) anomalies that are generally coincident with anomalous gold values in rocks and gold-arsenic-antimony values in soil, and are also in close proximity to a major northeast-trending lineament.

This work phase follows a six-week field program in 2008 that consisted of line cutting (124 line-km), IP geophysical surveying (103 line-km), prospecting, geological mapping and rock sampling (555 grab and channel samples). In addition to drilling, trenching (1,500 m) and another IP survey (100 line-km) will be performed. The total estimated cost of the work that will be carried out, including drilling, is estimated at $1.1 million.

Sampling results included 2 samples with values higher than 1.0 g/t Au (2.4 and 2.1 g/t Au), 6 samples with values between 0.5 and 1.0 g/t Au, and 17 samples with values between 0.1 and 0.5 g/t Au. High copper values (more than 1.0% Cu) were also obtained in two samples, as well as elevated silver values (more than 100 g/t Ag) in two samples. The anomalous gold values were identified in metasedimentary rocks or near the contact between metasedimentary and volcanic rocks. Arsenopyrite, tourmaline and silica are frequently associated with the gold mineralization.

The Wabamisk property consists of 755 claims totalling 400 km2. Goldcorp has the option to earn a 51% interest on the property and an additional 19% interest upon the delivery of a bankable feasibility study. Goldcorp is the project operator. The ground IP survey was performed by Geosig Inc. of Quebec City using the following configuration: time domain, dipole-dipole, a=50 m, n=1 to 6. Rock samples were assayed by ALS Chemex of Val d’Or, Quebec, using an ICP method.Azimut’s partner Goldcorp to drill at Wabamisk, James Bay region

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