Longueuil, Quebec. - Azimut Exploration Inc ("Azimut") is pleased to announce the signing of a Letter of Intent with Dynasty Gold Corp. ("Dynasty") (TSX-V: DYG) (FWB: D5G) regarding the Opinaca D property in the emerging Eleonore gold mining camp in the James Bay region, Quebec. Dynasty can acquire an initial 50% interest in the project by conducting $3.2 million in exploration work over a four (4)-year period, and an additional 15% interest upon delivery of a bankable feasibility study. A drilling program is planned for 2011 to test already defined high-quality targets.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is pleased to report on significant assay results obtained during the 2010 field exploration programs conducted on the Rex Property and Rex South Property located in Nunavik, northern Quebec (see attached map). On both properties, which cover a 160-km emerging mineralized district, the discovery of several kilometre-long polymetallic mineralized zones (most notably for gold, silver, copper and/or tungsten) has been announced with the press releases of October 13, October 20 and November 8, 2010. Drilling will start in 2011 with the objective of assessing large-scale surface and high-quality exploration targets.
Longueuil, Quebec. Azimut Exploration Inc. ("Azimut" or the "Company") announces that two insiders of the Company, Mr. Dennis Wood and Mr. Jean-Charles Potvin, have exercised their right of conversion under their convertible debentures in the amount of $300,000 in the case of Mr. Wood and of $40,000 in the case of Mr. Potvin (collectively, the "Debentures") issued by Azimut on November 20, 2008 (see press release dated November 21, 2008). In total, Azimut will issue 629,629 units for the reimbursement of the outstanding capital on the Debentures. Each unit is comprised of one common share at a price of $0.54 per share and one share purchase warrant, each warrant entitling them to acquire one additional common share of Azimut at a price of $0.65 per share until November 20, 2011.
Longueuil, Quebec. Azimut Exploration Inc. ("Azimut") announces that two Quebec institutional funds, the Société d'investissement dans la diversification de l'exploration ("SIDEX") and the Société de développement des entreprises minières et d'exploration II ("SODÉMEX II"), have exercised their warrants for total proceeds of $382,176 in exchange of 587,963 common shares of Azimut.
Since 2007, Mr. Toth shared his experience and exceptional business vision with the Company, and his contribution was greatly appreciated. All of Azimut's employees and associates extend their sincere sympathies to his family and friends.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") and Aurizon Mines Ltd. ("Aurizon") are pleased to announce the discovery of a major gold-silver-copper-tungsten mineralized zone on the Rex South property in Nunavik, Northern Quebec. Twenty (20) other significant mineralized prospects have also been identified on the property.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces excellent new results for its 100% owned REX property in Nunavik, Quebec. The results for another 501 rock grab samples from the summer exploration program, which include copper grades up to 11.3% Cu, further substantiate the discovery of district-scale copper (gold, silver) mineralization on the REX property, as initially described in the press release of October 13, 2010.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is pleased to announce a major copper (gold, silver) discovery on its 100%-owned REX property in Nunavik, Quebec. The mineralization, which occurs over a largely outcropping zone several kilometres long and about 100 metres wide or more, was discovered during an initial exploration program conducted on the property this summer. Results received to date, including copper grades up to 10.7 % Cu in grab samples, reveal the RBL Zone as a very attractive drilling target. Furthermore, at least five (5) other kilometre-scale prospects yielded significant grades for copper (up to 4.4 % Cu), gold (up to 16.1 g/t Au), silver (up to 196.0 g/t Ag) and cobalt (up to 0.19% Co).
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") and Aurizon Mines Ltd. ("Aurizon") have successfully completed a major work program on the Rex South property located in Nunavik, Quebec. Rex South has excellent gold potential combined with polymetallic exploration targets, most notably for copper and rare earth elements (see Azimut press releases dated May 18 and May 26, 2010). Results are pending.
Nunavik, QuebecLongueuil, Quebec - Azimut Exploration Inc. ("Azimut") has successfully completed a major work program on its wholly owned REX property located in Nunavik, Quebec. Azimut's management believes the REX property has excellent exploration potential, most notably for Iron Oxide Copper Gold (IOCG-type) mineralization (see press release of March 4, 2010). Results are pending.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces that a 3,300-metre diamond drilling program is underway at the Eleonore South Joint Venture project, located in the James Bay region of Quebec. This $1.6 million program is entirely funded by partners Les Mines Opinaca Ltée ("Opinaca"), a wholly-owned subsidiary of Goldcorp Inc., and Eastmain Resources Inc. ("Eastmain").
Longueuil, Quebec. Azimut Exploration Inc ("Azimut") announces the signing of a Letter of Intent with Aurizon Mines Ltd ("Aurizon") and Everton Resources Inc ("Everton") whereby Aurizon can acquire up to a 60% undivided ownership interest in the Opinaca property in the James Bay region, 350 kilometres north of Matagami, Quebec. The Opinaca property is currently owned by Azimut and Everton with an undivided interest of 50% each, and comprises the A, A East, B and B North claim blocks for a total of 649 mining claims covering 338 km2.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports that Goldcorp Canada Ltd ("Goldcorp") completed an 8-hole diamond drilling campaign totalling 2,008 metres on two (2) gold targets on the Wabamisk property. A key result was the discovery of a gold-antimony-arsenic mineralized zone associated with a diorite intrusion and metasedimentary rocks. The best intercept returned 2.27 g/t Au over 4.3 m (core length) within a large envelope of 0.7 g/t Au, 0.39% Sb and 0.20% As over 19 m.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") and Aurizon Mines Ltd. ("Aurizon") are starting a $1.5-million exploration program on the Rex South property, a project with strong exploration potential for gold, copper and rare earth elements (REE). The objective of the 2010 summer program is to validate the overall potential of the property through surface prospecting supported by systematic geophysical and geochemical surveys.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is starting a $1.8-million exploration program on its wholly owned REX property, a project with excellent polymetallic exploration potential most notably for copper and rare earth elements (REE). The objective of the 2010 summer program is to validate the overall potential of the property through surface prospecting supported by systematic geophysical and geochemical surveys.
Longueuil, Quebec – Azimut Exploration Inc. (“Azimut”) announces that its partners Les Mines Opinaca Ltée (“Opinaca”), a wholly-owned subsidiary of Goldcorp Inc., and Eastmain Resources Inc. (“Eastmain”) will fund a $1.6 million gold exploration program in 2010 on the Eleonore South property in the James Bay region of Quebec. This program will consist of 3,300 metres of diamond drilling.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") announces the signing of a Letter of Intent with Aurizon Mines Ltd. ("Aurizon") regarding the Rex South property, a major exploration project for gold, copper and rare earth elements. The property comprises 1,274 claims covering a surface area of 555 km2 in Nunavik, Quebec, about 145 km southeast of the community of Puvirnituq (see press release of May 18, 2010).
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is pleased to announce that its partner 2227352 Ontario Inc. (a private Ontario company) has reached an agreement with Valencia Ventures Inc. ("Valencia") regarding the Diana property. Wholly owned by Azimut, Diana is a major exploration project for copper, cobalt and rare earth elements (REE) in Nunavik, Quebec, about 40 km northwest of the town of Kuujjuaq (see press release of February 18, 2010).
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports that it has staked a large gold, copper and rare earth element exploration target in Nunavik, Quebec. This area, now forming the Rex South property, displays a strong exploration potential based on the combination of the following factors:
Longueuil, Quebec. Azimut Exploration Inc. ("Azimut") is pleased to announce that its partner Everton Resources Inc. ("Everton") has earned its 50% interest on the Opinaca A and B gold properties in the vicinity of the Eleonore gold deposit, James Bay region, Quebec. Exploration work performed by Everton and Azimut since 2005 led to the discovery of significant gold mineralization, including the Charles, Smiley and Inex prospects at Opinaca A, and the Dominic and Claude prospects at Opinaca B, for which results were previously reported. The Claude prospect notably delivered a drilling intercept of 0.21 g/t Au over 186.8 m, including 1.0 g/t Au over 21.5 m. Several attractive well-defined targets remain untested by drilling on the two properties.
Longueuil, Quebec. Azimut Exploration Inc. ("Azimut") announces that on March 25, 2010, SIDEX exercised its conversion right on the balance of a loan (see press release dated November 21, 2008) in the amount of $250,000 together with accrued interest totaling $10,273.97. Thus, upon approval of the TSX Venture Exchange, the company will issue to SIDEX a total of 477,847 units at an average price of $0.5447 per unit, each consisting of one (1) common share and a warrant having an exercise price of $0.65 and valid until November 20, 2010.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports that Goldcorp Canada Ltd. ("Goldcorp") has started a 2,000-metre drilling program on three (3) gold targets on the Wabamisk gold property.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") announces that a total of 490,000 stock options have been granted to its directors, officers, employees and consultants. Of this number, 455,000 have been granted to its directors and officers and 35,000 to its employees and consultants. These options have an exercise price of $0.66 per share and are exercisable during a 10-year period.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces that further examination of the existing regional-scale geoscientific database covering the REX property area has led to the recognition of a large Iron Oxide Copper-Gold ("IOCG") target on the property.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") announces the signing of a letter of intent with 2227352 Ontario Inc. ("the Partner") regarding the Diana property, a major exploration project for copper, cobalt and rare earth elements. This property, which comprises 524 claims covering a surface area of 237 km2, is located in Nunavik, Quebec, about 40 km northwest of the town of Kuujjuaq (see press release of February 18, 2010).
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports that it has acquired by map staking a large copper, cobalt and rare earth element (REE) exploration target in Nunavik, Quebec. This target, now forming the Diana property, is best defined by a strong, 45-km-long, multi-element geochemical footprint in lake-bottom sediments. The property is well positioned, just 40 km northwest of the town of Kuujjuaq and about 50 km southwest of the Ungava Bay shoreline.
Longueuil, Québec - Azimut Exploration Inc. ("Azimut") reports results from the fall diamond drilling program at its Eleonore South joint-venture project with Les Mines Opinaca Ltée, a wholly-owned subsidiary of Goldcorp Inc. ("Goldcorp"), and Eastmain Resources Inc. ("Eastmain"). Fourteen (14) drill holes totalling 3,697 m were completed to test the JT Target area as well as two (2) other priority targets on the property. In the JT Target area, 9 out of 12 holes intersected gold-bearing sedimentary rocks over wide intervals, along a one-kilometre-long corridor.
Longueuil, Québec - Azimut Exploration Inc. ("Azimut" or the "Company") announces the closing of a non-brokered private placement totalling $500,000 with a US-based subscriber.
2010 Press Releases