Azimut Exploration drills 1.22 g/t gold over 72.4 metres at Elmer, Quebec

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Azimut Exploration Inc. [AZM-TSXV; AZMTF-OTC] reported new results from nine holes drilled on the Patwon gold zone on the 100%-owned Elmer property in the James Bay region of Quebec.

The current 20,000-metre delineation program aims to define this zone down to at least 800 metres. The results will be incorporated into a maiden mineral resource estimate supported by a technical report compliant with Ni 43-101.

The Company has now drilled 32 holes for 15,487 metres during the ongoing program, including 27 on Patwon (14,458 m) and five on surrounding targets (1,029 m). The results for the first six holes from this campaign were reported March 10, 2022.

Much of the area surrounding Patwon is covered by muskeg. To map the unexposed bedrock and identify new gold-bearing zones, the company recently completed an extensive reverse circulation drilling program (507 holes for 6,681 m ) to collect bedrock samples along a 9-km-long highly prospective area. This phase of work will prepare for a summer core drilling program to test new exploration targets.

Today’s results further expand the Patwon Zone, which remains robust and consistent. The zone has been outlined along a strike length of 580 metres and to a depth of at least 700 metres, with an average estimated true width of 35 metres. It remains open at depth and possibly along strike.

The deepest hole drilled to date (ELM22-151A ending at 882 m) displays several wide mineralized intercepts from 732 to 837 metres (105 m along the hole), including several places with visible gold grains. This preliminary observation supports the expectation of a significantly deeper mineralized body. Assay results are pending for this hole.

Hole ELM22-138 returned 3.05 g/t gold over 23.0 metres (193.5-216.5 m), including 4.27 g/t gold over 5.0 metres and 5.44 g/t gold over 7.0 metres. Hole ELM22-132 returned 2.20 g/t gold over 30.05 metres (459.95-490.0 m), including 4.06 g/t gold over 13.6 metres and 6.59 g/t gold over 5.05 metres.

Hole ELM22-136 returned 1.22 g/t gold over 72.4 metres (589.4-661.8 m), including 1.84 g/t gold over 23.1 metres and 3.78 g/t gold over 8.1 metres. Hole ELM22-137 returned 1.42 g/t gold over 14.9 metres (150.35-165.25 m) and 3.37 g/t gold over 2.25 metres (187.6-189.85 m).

Hole ELM22-143 returned 1.75 g/t gold over 8.2 metres (303.5-311.7 m) and 1.63 g/t gold over 28.65 metres (335.25-363.9 m), including 6.06 g/t gold over 2.3 metres and 8.40 g/t gold over 2.05 metres. Hole ELM22-142 returned 4.32 g/t gold over 2.15 metres (460.35-462.5 metres) and 1.55 g/t gold over 33.25 metres (477.75-511.0 m), including 3.92 g/t gold over 5.95 metres and 3.49 g/t gold over 3.25 metres.

Patwon’s core zone is characterized by grade x thickness (GT) factors higher than 50 based on estimated true widths. At Patwon, visible gold in drill core is generally a reliable predictor for GT factors close to or higher than 50.

Of the 27 delineation holes drilled so far during the current program, 13 display visible gold grains (ELM21-125, -127, -128, -129 and ELM22-132, -134, -136, -142, -143, -146A, -148, -151A, and-153). The delineation drilling program is structured on a systematic spacing of 50-metre centres from surface to a depth of 500 metres, and 50-metre by 75-metre centres down to 800 metres. Patwon is thought to be open along strike, and additional holes will test this.

The Elmer Property comprises 515 claims (271.3 km2) over a 35-km strike length. The property lies 285 km north of Matagami, 60 km east of the village of Eastmain, and 5 km west of the paved Billy-Diamond Highway, a major all-season highway. The region benefits from excellent infrastructure, including significant road access, a hydroelectric power grid, and airports.

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