Azimut Increases its Holdings Near the Eleonore Gold Discovery.MONTREAL -- Exploration Azimut Inc. ("Azimut") (TSX-V:AZM AZM The ISO 4217 currency code for Azerbaijani Manat. ) announces it has increased its land holding near the Eleonore major gold discovery made by Virginia Gold Mines in the 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 region, northern Quebec. Azimut holds a 100 % interest in 6 properties totaling 734 claims and covering 383.19 km2 (see appended map: http://www2.ccnmatthews.com/database/fax/2000/azm1122.pdf). Confirmation for 444 of these claims has already been received from the Ministry of Natural Resources, Wildlife and Parks. Confirmation of the remainder is pending.These acquisitions are the result of Azimut's in-depth regional-scale examination of geological, geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. and multi-element lake-bottom sediment geochemical data. Azimut's properties have a strong gold exploration potential suggested by their signatures and settings relative to the Eleonore discovery. They are located along its northern strike-extension (Block A), or represent peripheral targets (5 other claim blocks). Salient points are: Block A (283 claims): Property with a southern limit only 3 km from Virginia's Eleonore discovery, which is part of an apparent 8 km-long by 3 km-wide NNE-striking gold-bearing trend.The NNE-striking foliations on Azimut's property suggest the possibility of finding the extension of the Eleonore trend.In the northern part of the Bloc, a strong 7 km-long arsenic anomaly is associated with metasediments and intrusions. Block B (127 claims): Strong 7 km-long arsenic anomaly associated with metasediments. Block C (138 claims): Well defined 8 km-long arsenic anomaly associated with metasediments at the edge of a syn to late tectonic tectonic /tec·ton·ic/ (tek-ton´ik) pertaining to construction. intrusion.This anomaly is interpreted as the southernmost part of the arsenic anomaly hosting the Eleonore discovery. Block D (104 claims): Strong 7 km-long arsenic anomaly at a metasediment-intrusion contact. Azimut is a mineral exploration company utilizing cutting-edge targeting methodologies with the objective of discovering major ore deposits.Azimut has a strategic agreement with Kennecott, a subsidiary of the Rio Tinto Group Rio Tinto is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately 10.2 billion US dollars in 2006 on consolidated turnover of 25.4 billion USD. , over a 500,000 km2 area outside the James Bay region.Azimut currently has 12.4 million issued shares. 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 TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture) does not accept responsibility for the adequacy or accuracy of this release. Azimut Exploration Inc. (TSX VENTURE:AZM) |
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