Azimut Exploration (TSXV: AZM; OTC: AZMTF) has received the Discovery of the Year award from the Mineral Exploration Association of Quebec (AEMQ) for the discovery of the Patwon gold zone on the company’s 100%-owned Elmer property.
The award is granted to highlight the importance of a new discovery that has a ripple effect on exploration activities both on the property and in the surrounding area.
The discovery of the Patwon zone was announced in January 2020, following the initial drill program. Thus far, the zone has been delineated by 115 holes (48,381 metres). The zone is continuous from surface to at least 800 metres, and it remains open pit at depth – and probably along strike, says Azimut, which is headquartered in Longueuil, Que., just east of Montreal.
The strike length extends nearly 600 metres with an estimated true width of 35 metres. Drilling continues to expand and optimize a potential open pit.
The best assay from the Patwon zone was 24.04 grams gold per tonne over 18 metres from 254 to 272 metres.
Azimut’s wholly owned Elmer property is a gold-silver-copper-zinc project located in the Eeyou-Istchee James Bay region of Quebec, about 5 km west of the James Bay Road and 100 km from Newmont (TSX: NGT; NYSE: NEM)’s Eleonore gold mine. The property is also 60 km from the Cree community of Eastmain.
Azimut shares were trading at 56¢ on Tuesday in Toronto, in a 52-week window of 54¢ and $2.08. It has a market cap of $46 million.
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