Azimut hits more high gold grades in Quebec, shares up

MINING.COM Staff Writer | June 22, 2021 | 9:48 am Exploration Markets Canada Gold 
Azimut continues to hit high gold grades in Quebec, shares up
Azimut has made a high-grade gold discovery on its Elmer property in the James Bay region. Credit: Azimut Exploration

Azimut Exploration (TSXV: AZM) continues to intersect wide, high-grade gold intervals at the Patwon discovery on its 100% owned Elmer property, located in the James Bay region of Quebec.

On Tuesday, the company reported assay results for three additional holes totalling 1,393 metres, highlights of which include:

  • Hole ELM21-086: 24.04 g/t Au over 18.0 m (from 254 m to 272 m), incl. 38.7 g/t Au over 9.0 m, and 44.4 g/t Au over 1.0 m (from 307.7 m to 308.8 m)
  • Hole ELM21-073: 1.44 g/t Au over 66.0 m (from 407.3 m to 473.3 m), incl. 3.09 g/t Au over 10.5 m

Azimut’s current diamond drilling program is now complete with 15,135.5 metres drilled (67 holes).

These new results further confirm the robustness and strong growth potential of the Patwon gold zone, Azimut said. Patwon remains wide open below 450 metres, with a possible gold grade increase with depth.

Management considers Patwon to be one of the largest gold discoveries in the James Bay region since the discovery of the Éléonore deposit in 2004.

Following the new assay results, shares of Azimut jumped as much as 7.2% during Tuesday’s trading session. The Canadian mining junior has a market capitalization of C$149.5 million.

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