Azimut's Partner Placer Dome Identifies Gold Targets at Wabamisk Property, 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 Placer Dome (CLA CLA, n.pr See acid, conjugated linoleic. ) Limited ("Placer Dome") has identified several significant targets, including newly discovered 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. showings, following a successful summer program on the Wabamisk property. Targets were identified by combining till and lake bottom sediment assays, rock-sampling results, geological and structural mapping, and magnetic data acquired on the property.Most historical gold showings - including values of up to 80.71 g/t Au (press release of June 13, 2005) - fall within the target zones.These targets clearly display the potential to be laterally continuous for several kilometres and represent under-explored areas. Four new outcropping gold showings with values ranging from 0.72 g/t Au to 8.20 g/t Au (grab samples) were discovered during reconnaissance traverses spaced 2 km apart.The 8.20 g/t Au showing is hosted by gneissic gneiss n. A banded or foliated metamorphic rock, usually of the same composition as granite. [German Gneis, probably alteration of Middle High German ganeist, metasediments containing traces of pyrite.Its geological context underscores the potential for sediment-hosted gold deposits on the property. The proposed 2006 exploration program will represent expenditures of C$600,000 funded by Placer Dome.Work will include detailed geochemical sampling within the identified targets, as well as detailed mapping and stripping in order to advance the property to the drilling stage. The 58-km long Wabamisk property (755 claims, 400 km2) is 100% owned by Azimut.Placer Dome, the operator, can earn a 51% interest on the property by investing C$4.0 million over a 5-year period, and an additional 19% 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. Placer Dome is the world's fifth largest gold mining company, with interests in 17 mines in seven countries. 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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