Azimut Exploration Inc. (TSXV: AZM) this morning provided an update on the progress of its current 15,000-metre diamond drilling program at the company’s Elmer Property in the James Bay region of Quebec.
The drill program was designed to expand the Patwon gold discovery with an added 10,000 meters of drilling and the testing of 10 high-quality targets in the vicinity of the discovery within 5,000 meters.
The company highlighted a number of aspects on the drill program this morning, including:
- 14 drill holes with pending assay results showing wide mineralized intervals in drill core. It consists of pyrite with quartz veining and strong alteration that are visually comparable to previously disclosed gold-bearing intervals
- The company has outlined areas of particular interest where native gold grains have been observed in 8 of the 14 holes
- Azimut is planning a more extensive drilling program for later in 2021 based on the strong first results of the current phase.
Azimut’s current drilling program at the Elmer property has resulted in 12,099 meters drilled to date with 45 holes completed, and two now underway. The Patwon Zone has 9,668 meters drilled with 29 holes completed, for which assays are pending for 19 of the holes. Exploration targets meanwhile have seen 2,430 meters drilled and 16 holes completed with assay results pending.
The company has reportedly sent 6,813 drill core samples to AGAT Laboratories for analysis, with more assay results to be received in the coming weeks.
The Patwon Zone is now defined over a strike length of 500 meters and a minimum depth of 400 meters, based on the assay results of 40 previously disclosed drill holes.
Azimut Exploration Inc. last traded on the TSX Venture at $1.65.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.