Azimut and SOQUEM Drill Wide Lithium-bearing Pegmatite Intercepts at Galinée, James Bay Region, Quebec

Maiden Drilling Program Expanded to 5,000 metres

LONGUEUIL, Quebec, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. (“Azimut” or the “Company”) (TSXV: AZM) (OTCQX: AZMTF) is pleased to report significant intercepts of spodumene pegmatites from the maiden core drilling program on the Galinée Property (the “Property”) in the Eeyou Istchee James Bay region of Quebec.

All drill holes carried out so far intersect spodumene pegmatites, currently recognized over a distance of 400 metres laterally. Intercepts of up to 78.4 metres in core length were observed in the first four (4) holes totalling 1,252.8 metres. Additionally, prospecting results from a mineralized boulder field in the same area (see press release of September 6, 2023) have yielded grades up to 4.09% Li₂O.

Azimut and its partner SOQUEM Inc. (“SOQUEM”) are strongly encouraged by these initial drilling and prospecting results. The ongoing drilling program, initially planned for 1,600 metres, has now been expanded to a minimum of 5,000 metres to accelerate the delineation of this discovery. A 2-kilometre-long area immediately east of the first four holes appears as a highly prospective target zone. Azimut is acting as the operator.

HIGHLIGHTS (see Figures 1 to 6, Photos 1 to 4, Table 1)

• The main spodumene-bearing intercepts in the core are as follows (visual observations, assay results pending):
  
  Hole GAL23-001: 78.4 metres (from 133.8 m to 212.2 m), including a 1.3 m amphibolite interval (from 195.1 m to 196.4 m), and another intercept of 7.25 metres (from 323.4 m to 330.65 m).
  Hole GAL23-002: 8.9 metres (from 105.5 m to 114.4 m). This hole was planned to reach a length of 400 m but was abandoned at a depth of 253.8 m due to drilling difficulties.
  Hole GAL23-003: 26.85 metres (from 195.5 m to 222.35 m).
  Hole GAL23-004: 16.5 metres (from 203.6 m to 220.1 m).
  

• Spodumene crystals range from a few centimetres to 20-25 centimetres long, with greyish-beige to greenish-beige colours. A portable LIBS analyzer (Laser Induced Breakdown Spectroscopy) was used to confirm the presence of lithium. Other associated minerals include quartz, white feldspar, tourmaline and, less frequently, garnet, apatite and possibly lepidolite. Holmquistite, a typical lithium-bearing amphibole in the margins of lithium-rich pegmatites, has also been observed. The host rock is dark green amphibolite.