Azimut and KGHM Discover Nickel-Copper-PGE Mineralization on the Kukamas Property, James Bay Region, Quebec

LONGUEUIL, Quebec, April 02, 2024 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report on the 2023 exploration program on the Kukamas Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec. Azimut has carried out significant exploration work on the Property since the signing of a joint venture option agreement with KGHM International Ltd (“KGHM”) (see press release of December 8, 2022). Azimut will carry out a comprehensive partner-funded follow-up program in 2024 that will include focused prospecting, an in-fill lake sediment geochemical survey and likely drilling.

HIGHLIGHTS (Figures 1 to 5)

• Exploration work in 2023 comprised 3,199 line-kilometres of heliborne geophysical survey and an initial prospecting phase.
  
  
  • Geophysical survey: A high-resolution heliborne magnetic-electromagnetic VTEM^TMPlus survey covered the entire Property at 100-metre line spacing for a total of 3,199 line-kilometres (see press release of February 8, 2023). Ten (10) target areas have been identified related to strong to moderate VTEM^TMPlus conductors or strings of conductors, as well as smaller isolated EM anomalies. None of these conductors, often well correlated with outcropping gold, copper and/or nickel mineralization, has been drill-tested.
    
    
  • Prospecting: The main objective of this phase of work was to follow up on several geophysical targets identified. 114 rock grab samples were collected from six (6) target areas, leading to the discovery of an amphibolite-hosted nickel-copper-platinum-palladium showing with pyrrhotite, pentlandite and chalcopyrite veinlets that returned up to 1.36% Ni, 0.12% Cu, 0.206 g/t Pt and 0.685 g/t Pd in grab samples.
    
    
• A strong spatial correlation exists between the new nickel-copper-PGE showing and a kilometre-long strong electromagnetic conductor that remains untested by drilling (Figure 5). Other historical prospects in the same area yielded up to 2.0% Cu and 0.75% Ni in grab samples. This area has been ranked as a priority for additional prospecting in 2024 and likely diamond drilling.
  
  
• A new gold showing (4.28 g/t Au in a grab sample of pyritic amphibolite) has been identified along the Chain Lake fault, a multi-kilometre-long wide shear zone previously recognized on the Property. This target area presents a string of strong punctual electromagnetic conductors over a 6-kilometre strike on the western claim block, which will be subject to additional prospecting work.