SOUTH RAE

Ungava Bay uranium property

The South Rae property (79 claims, 36.4 km²), owned 100% by Azimut, is located about 60 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 140 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.

South Rae is about 40 km southwest of Azimut’s main block of Ungava Bay properties formed by the North Rae, Daniel Lake and Kangiq claims. These latter cover a 50 x 60 km area within a large-scale uranium footprint that was revealed by Azimut’s predictive modelling over most of Quebec and Labrador in 2005. Together they form the backbone of Azimut’s land position in the Ungava Bay region.

Exploration targets and mineralization

The target type on the South Rae property is mainly large-scale, intrusion-related and/or structurally-related mineralization potentially amenable to open pit mining. Mineralized facies are pegmatitic dykes and granitic gneisses that are generally conformable to the regional foliation.

Work performed during the 2007 summer program included 5,200 line-kilometres of helicopter-borne radiometric and magnetic surveying, lake-bottom sediment sampling (691 samples), prospecting, and rock sampling (94 outcrop sites).

A detailed analysis of the geophysical survey defined numerous uranium targets for follow-up investigation, grouped into several dozen distinct anomaly clusters.

The prospecting and sampling work roughly delineated three mineralized trends with assay values higher than 0.05% U₃O₈ in the southern half of the main claim block.

Strategic advantages

South Rae, like Azimut’s main block of Ungava Bay properties to the northeast, benefits from three strategic advantages:

There is potential for a large resource base at shallow depth, amenable to open pit mining.

It is well positioned near 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 27, 2008
Azimut and Majescor outline 392 priority uranium targets on the South Rae property, Nunavik, Quebec

January 08, 2008
Azimut and Majescor receive additional encouraging uranium results from South Rae, Nunavik, with grades up to 0.65% U₃O₈

October 31, 2007
Azimut and Majescor further demonstrate regional-scale uranium potential in Nunavik, Quebec: up to 0.57% U₃O₈ along a 30-km trend at South Rae

September 05, 2007
Azimut and Majescor identify regional-scale uranium potential on the South Rae Property, Ungava Bay Region, Quebec

January 31, 2007
Azimut and Majescor sign a Letter of Intent for the South Rae Uranium Property, Ungava Bay Region, Quebec

May 29, 2007
Azimut's update on 13 uranium exploration properties in Quebec

April 12, 2006
Azimut: uranium potential modeling of Northern Quebec and acquisition of 8 large properties totalling 5,760 claims