- Azimut Exploration Inc. (AZM) has discovered nickel-copper sulphide mineralization on the Wapatik Property
- High grades of nickel and low grades were reported in today’s results
- The company believes the mineralized interval has an excellent chance for expansion
- The initial drilling interval is allegedly one of the best nickel-copper results recorded in the James Bay region
- A minimum six-hole follow-up program has begun on the property
- Azimut Exploration Inc. (AZM) is down 1.00 per cent and is trading at $0.99 per share as of 3:11 p.m. ET
Azimut Exploration (AZM) has discovered nickel-copper sulphide mineralization during its maiden diamond drilling program on the Wapatik Property.
High grades of nickel and low grades were reported in today’s results. The mineralized interval corresponds to a conductor which the company believes has an excellent chance for expansion.
According to public data, Azimut stated that the initial drilling interval is one of the best nickel-copper results recorded in the James Bay region. It strongly supports Azimut’s view that the area is underexplored for nickel-copper deposits.
According to the company, the maiden drilling program tested four holes for 1,068 metres, but all of them still need to be assayed.
A minimum six-hole follow-up program has proceeded on the property to define the shape and extent of this discovery. Azimut is considering testing additional attractive targets within the intrusion.
The property is in the Eeyou Istchee James Bay region of Quebec and is a joint venture with Mont Royal Resources Limited.
Mont Royal can acquire a 50 per cent interest in the property by spending $4 million in exploration expenditures over four years and another 20 per cent interest with an additional $3 million payment and the delivery of a preliminary economic assessment over three years.
Azimut Exploration Inc. (AZM) is down 1.00 per cent and is trading at $0.99 per share as of 3:11 p.m. ET.