Azimut and SOQUEM Deliver More Wide High-Grade Lithium Drill Intercepts on Galinée, James Bay Region, Quebec - Seite 2

The mineralized intercepts disclosed in this press release strongly suggest they represent the downdip extension of the Adina deposit onto Galinée (see also press releases of January 9, 2024).

As currently defined, the lithium-bearing zone on the Property has a strike length of 700 metres and trends roughly east-west. It remains largely open to the east and south. More drilling will better define the geometry and true thickness of the pegmatite bodies. Initial data suggest a shallow dip to the south, ranging from subhorizontal to 15 degrees.

Seventeen (17) holes have been drilled to date for a total of 4,914.9 metres. Eleven (11) holes (including GAL23-001) have cut significant spodumene mineralization. The true widths of the drill intervals have not been determined at this stage. The lithium-bearing intervals are related to spodumene pegmatite but may also include metric to multi-meter low grade sub-intervals of amphibolite.

Spodumene crystals generally range from a few to 50 centimetres long, with greyish-beige to greenish-beige colours. A portable LIBS (Laser Induced Breakdown Spectroscopy) analyzer was used to confirm the presence of lithium. Other associated minerals include quartz, white feldspar, tourmaline and, less frequently, garnet, apatite, lepidolite and tantalite. Holmquistite, a typical lithium-bearing amphibole formed at the margins of lithium-rich pegmatites, has also been observed. The host rock is dark green amphibolite.

Property-Scale Exploration Potential

Galinée displays strong exploration potential supported by Azimut’s project database and the results recently acquired by other companies on surrounding properties. The region is considered a significant emerging lithium district.

• At Galinée, a cumulative 60 kilometres of highly prospective strike length has been delineated:
  • The currently drilled area, in the northernmost part of the Property, is part of a more extensive prospective zone that continues for 12 kilometres east and more than 21 kilometres along the northwest part of the project.
  • In the southern half of the Property, several sectors with a cumulative strike of 27 kilometres also display a favourable geological context coupled with attractive lake sediment anomalies in lithium.
  • Target definition and ranking are also supported by lithogeochemical data, till sampling results and remote sensing analysis.

• At the regional scale, known lithium pegmatite occurrences appear spatially correlated with the Trieste Formation, a sheared mafic greenstone belt with iron formations, partly bounded by paragneisses. Trieste has a relatively distinct low magnetic footprint, comprising thin, strongly magnetic interlayered horizons. At the current exploration stage, spodumene pegmatite mineralization roughly delineates a regional corridor 18 kilometres long by 1 kilometre wide.