KANGIQ

Key Ungava Bay uranium property

The Kangiq property (1,743 claims, 788 km), owned 100% by Azimut, is located about 40 km east of Ungava Bay in Nunavik, northern Quebec.

The nearest village is the Inuit coastal community of Kangiqsualujjuaq, equipped with an airport and port facilities. The property is about 160 km northeast of Kuujjuaq, the largest Inuit village in Nunavik and its administrative capital.

Discovery of a new uranium province

The discovery by Azimut and AREVA of several hundred uranium prospects has revealed the Ungava Bay region to be a new Canadian uranium province.

Kangiq is adjacent to are adjacent to the North Rae, Daniel Lake and Burrel Lake properties, also 100% owned by Azimut, and together they form a block of properties about 70 km long by up to 50 km wide that constitutes the Company’s dominant land position in the region.

Mineralization at Kangiq

A first reconnaissance program on the Kangiq property in 2008 revealed several uranium prospects with grab sample grades up to 0.94% U₃O₈. The program included including mapping and sampling of the on-property extension of the Puqila Zone that had been previously identified on the adjacent Daniel Lake property, as well as 3,048 line-kilometres of helicopter-borne spectrometric and magnetic surveying.

The 149 grab rock samples collected to date at Kangiq include 24 samples with values above 0.05% U₃O₈ (up to 0.94% U₃O₈) and 53 samples with values between 0.01% and 0.05% U₃O₈. In general, higher uranium values are associated with an enrichment of uranium relative to thorium.

Most mineralized facies are hosted in biotite-rich pegmatitic dykes. Uranium mineralization is spatially correlated with multi-kilometre helicopter-borne radiometric anomalies and uranium lake-bottom sediment anomalies.

Regional controls on mineralization

Exploration results from Azimut's main Ungava Bay properties indicate three main types of regional-scale geological features controlling the distribution of uranium mineralization in the area:

The geological contact between Archean basement and Proterozoic metasedimentary rocks. Azimut's main property block formed by the Kangiq, North Rae, Daniel Lake and Burrel Lake properties covers this favourable geological contact along a 70 km continuous strike length. This type of setting is considered highly prospective for uranium on a worldwide basis.

Regional-scale late northwest-trending faults hosted in Archean basement.

Favourable lithologies within the Proterozoic metasedimentary package of the Lake Harbour Group. Reduced facies and carbonates represent high priority targets that have been subject to very limited exploration to date. Some of the eastern part of the Kangiq property is underlain by Lake Harbour metasedimentary rocks.

Strategic advantages

Azimut’s Kangiq and other Ungava Bay properties benefit from three strategic advantages:

The properties have the potential for a large resource base at shallow depth, amenable to open pit mining.

The properties are well positioned, only a short distance from port facilities on the Ungava Bay coast, near deep sea water, and close to a permanent airport and other infrastructure.

The province of Quebec is recognized around the world as a low-risk region for exploration and mining.

Relevant Press Releases

February 24, 2009
Azimut and Abitex report encouraging uranium results on the Kangiq property, Nunavik, Quebec

January 29, 2008
Azimut and Central Uranium report extensive uranium targets at Kangiq, further demonstrating the discovery of a potential new uranium district in the Ungava Bay region of Quebec

July 19, 2007
Azimut's update on uranium exploration properties