PRECIOUS METALS

Azimut, SOQUEM hail new Quebec discovery

'Predictive mineral potential modelling' key to success

Staff Reporter

This article is 6 years old. Images might not display.

The zone is 600m long and 100-150m wide. Grab samples from the outcrop have returned gold values between 1.53-11 grams per tonne gold, 0.05%-1.67% copper and 5.84-435g/t silver.

Longueuil, Quebec-based Azimut said the discovery was the direct result of its predictive mineral potential modelling. The company modelled 176,300 square kilometres in the James Bay region in 2016.

The mineralisation was mostly disseminated chalcopyrite or quartz veins hosted in foliated metasediments with strong biotite alteration, the company said.

The Munischiwan property is about 85km east of the Cree community of Eastmain, in an area serviced by permanent roads, power grids and airport facilities. The exploration programme is funded by SOQUEM with Azimut acting as the operator.

Azimut's exploration portfolio includes 22 properties covering 4,541 claims in the James Bay region.

Azimut gained 23.4% Thursday to C29c a share, having lost 20% in the past 12 months. The equity traded in a range of 23c-48c over this period.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.