Opinaca D

Strategic position near Eleonore gold deposit

Azimut has several properties in the vicinity of Goldcorp's Roberto (Eleonore) gold deposit, east of the Opinaca Reservoir and about 320 km from Matagami or Chibougamau. These include the Opinaca D property, 100% owned by Azimut and optioned to Dynasty Gold Corporation. The property comprises 188 claims for a total surface area of 98.0 km².

Exploration work and results

Reconnaissance geological mapping and prospecting on the Opinaca D property covered a number of exploration targets defined by VTEM and/or soil geochemistry anomalies. Soil geochemistry surveys confirmed a broad trend defined by gold, arsenic and antimony anomalies, with maximum values of 7,320 ppb Au for gold, 447 ppm As for arsenic, and 2.3 ppm Sb for antimony. The strong gold-arsenic-antimony soil anomalies have not yet been tested by other methods.

About $980,000 has been spent on the property as of November 2010.

Partnership with Dynasty Gold

In December 2010, Azimut announced the signing of a Letter of Intent with Dynasty Gold regarding the Opinaca D property.

Dynasty Gold 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.

Relevant Press Releases

December 21, 2010
Azimut and Dynasty sign a Letter of Intent for the Opinaca D gold property, James Bay, Quebec

August 18, 2006
Azimut's partner Eastmain identifies a favourable geological context for gold on the Opinaca (D Block) and Eleonore South properties, James Bay region

December 14, 2005
Azimut: gold targets identified at Opinaca (C and D blocks)

July 21, 2005
Azimut: 6 exploration programs underway in the James Bay region