Azimut: Airborne Geophysical Survey Begins at Opinaca, James Bay, Quebec.MONTREAL -- Azimut Exploration Inc. ("Azimut") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AZM AZM The ISO 4217 currency code for Azerbaijani Manat. ) announces that its partner Everton Resources Inc. ("Everton") has begun its 2006 exploration program on the Opinaca Property with an helicopter-borne magnetic and electromagnetic survey. The Opinaca Property (A, A-East, B and B-North blocks), is adjacent to the Eleonore gold discovery in James Bay James Bay, shallow southern arm of Hudson Bay, c.300 mi (480 km) long and 140 mi (230 km) wide, E central Canada, in Nunavut Territory between Ont. and Que. Numerous rivers flow into the bay; many of these have been developed for hydroelectric power in Quebec (see , Quebec. Aeroquest International Ltd. of Milton, Ontario, was contracted to fly approximately 1,500 line-kilometres using the AeroTEM II system to cover 220 km2 over the Property. The AeroTEM II consists of an advanced helicopter-borne time domain electromagnetic system which has the ability to accurately delineate and characterize weak conductors, such as those associated with disseminated sulphides in gold deposits. The AeroTEM II survey will cover the target areas identified during the 2005 field program, notably a gold-bearing mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. trend with sulphides as well as other geochemical anomalies. Follow-up work on conductors detected by the survey will include prospecting and soil sampling, in order to drill the best targets. In 2006, Everton will invest a minimum of $900,000 in exploration work on the Opinaca Property. Everton can earn a 50% interest on the Property from Azimut by investing $4.8 million in exploration work and an additional 15% interest upon the delivery of a bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. feasibility study. This press release was prepared by geologist Jean-Marc Lulin, Azimut's Qualified Person under NI 43-101. Azimut is a mineral exploration company that reduces exploration risk by using leading edge targeting methods to discover major deposits. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. (TSX Venture) does not accept responsibil ity for the adequacy or accuracy of this release. Azimut Exploration Inc. (TSX VENTURE:AZM) |
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