Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Azimut Exploration (TSXV: AZM) is cutting wide, high grade gold mineralization at the Patwon zone at its Elmer property in the James Bay region of Quebec. One of the intersections assayed 6.43 g/t gold over 40.6 metres.
Other significant results from the first 10 holes at Patwon include:
Azimut considers Patwon to be one of the largest gold finds in the James Bay region since Éléonore was discovered in 2004. The successful Éléonore mine, owned by Newmont (TSX: NGT; NYSE: NEM), produced almost a quarter-million ounces of gold last year.
The Patwon mineralization has been defined over a strike length of 500 metres and a minimum depth of 400 metres and remains open at depth. The estimated width is about 36 metres based on the results of 40 earlier drill holes, but the true width can be up to 80 metres. The zone appears to be consistent, wide and predictable. It exhibits simple geology with no internal folding or crosscutting barren dykes, and grade may increase with depth, according to Azimut.
The Elmer property on which Patwon is found is located about 285 km north of Matagami, Quebec, and 60 km east of Eastmain. The paved James Ray Road is only 5 km to the east.
(This article first appeared in the Canadian Mining Journal)
