Longueuil, Quebec, May 17, 2023 /CNW/- Azimut Exploration Co., Ltd. (“Azimut” or “Company”) (TSXV: AZM) (OTCQX: AZMTF) continues its systematic exploration of its properties and is pleased to announce that the Lithium Field Campaign will be launched. Pikuwa Property (the “Property”) is located in the Eyu Istichy James Bay area. Quebec. This comprehensive program will be followed by core drilling contingent on the success of the exploration phase. This is the first of several lithium-focused exploration programs that Azimut will conduct this summer.

The 28-kilometer-long Pikuwa property is corvette plan (Patriot Battery Metal) A large CV5 lithium discovery took place in the east, cancel plan (engaging resource) to the west is a vein of canceltritium (See Figures 2 and 3). Pikwa is a joint venture between Azimut and SOQUEM.

• Azimut and SOQUEM have reviewed 8 rich lithium Target area We conducted our research on Pikwa through a systematic review of data obtained during previous exploration programs at this property. Although these programs were not focused on lithium, the data generated strongly support lithium target setting.
• Pikuwa’s key lithium target regions have been hit hard by east-west trends. pronounced magnetic tendency It hosts major lithium prospects in the Corvette and Canset projects.
• Additional targeting criteria include: a) Advanced in-house processing of multispectral remote sensing data to identify potential pegmatite outcrops. b) Project-scale distribution of pathfinder elements (lithium, cesium, rubidium, gallium, tin, tantalum) in rock mass.and c) Extensive lacustrine sediment anomalies in the Lithium Greenfield, outlined by the same pathfinding element.
• One of the most attractive targets is Vieux Comptoir An intrusive suite that is favorably positioned along a pronounced magnetic trend.

Key results from this property, including a summary of past exploration programs and results from the first-ever drilling program for a copper target, are included in the Appendix. Figures 10-12. As previously reported (See press release January 23rd and February 23, 2023), this summer Azimut will conduct several exploration programs focused on lithium. Garinet, Dharma and Pontois Real estate held in a joint venture with SOQUEM.

Pikuwa properties

Pikuwa Property (509 Creme, 260.9 km)²) is a project 28 kilometers long and 15 kilometers wide. It is 303 kilometers east of the Cree community. Weminge The region has excellent infrastructure such as permanent roads, power grids and airport facilities. The main gravel road in the area, Trans Taiga Road, traverses the property, as do two power lines. The project is a fifty-fifty joint venture between Azimut and SOQUEM, with the participation of Azimut’s team he will be run by SOQUEM.

qualified person

Doctor. Jean-Marc Lurin (P.Geo.) has prepared this press release as an Azimut qualified person within the meaning of National Instrument 43-101. Rock Lefrançois (P.Geo.), Vice President of Exploration and François Bissonnette (P.Geo.), Operations Manager, also reviewed the contents of this press release.

About Sochem

A subsidiary of Investissement Québec, SOQUEM is dedicated to promoting exploration, discovery and development of mining properties in Quebec. Quebec. SOQUEM also contributes to maintaining a strong local economy.A proud partner and ambassador for the development of of Quebec With abundant mineral resources, SOQUEM is well positioned for the future, relying on innovation, research and strategic minerals.

About Azimut

Azimut is a leading mineral exploration company with a strong reputation for target generation and partnership development. We have the largest mineral exploration portfolio in the world. Quebec.Flagship of wholly owned subsidiary elmer gold project will be aggressively advanced to the initial resource stage of James Bay region. Azimut also controls strategic land locations for copper, gold, nickel and lithium.

Azimut uses a pioneering approach to big data analytics (with its own AZtechMine™ Expert System), powered by extensive exploration know-how. Our competitive edge is based on ongoing projects in parallel with systematic regional data analysis. The company maintains rigorous financial discipline and a strong balance sheet, with 79.7 million of his shares outstanding.

www.azimut-exploration.com

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that reflect the Company’s current expectations regarding future events related to the results of drilling at the Piqua facility. Although the statements in this press release contain non-historical information, the statements are forward-looking in nature and are often labeled as “considering,” “anticipating,” “expecting,” Identified by words such as “assumed” and “intended”. , ‘project’, ‘plan’, ‘potential’, ‘suggestion’ and ‘believe’. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. . Many factors can cause such differences, notably the volatility and sensitivity of market metal prices, the impact of fluctuations in foreign exchange rates and interest rates, the inaccuracy of reserves estimates, and the recovery of gold and other metals. , environmental risks, including increased regulatory burden, and unexpected geological features. conditions, adverse mining conditions, activities of local communities and non-governmental organizations, changes in government regulations and policies, including laws and policies, pandemics, including COVID-19, and any necessary permits from government authorities. and failure to obtain authorization. Other Development and Operational Risks. Although we believe the assumptions underlying our forward-looking statements are reasonable, we should not place undue reliance on these statements, which apply only as of the date hereof. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. yeah. Readers are instructed to carefully consider the detailed risk discussion in our most recent annual report filed with SEDAR in order to gain a better understanding of the risks and uncertainties affecting our business. I’m here.

Neither the TSX Venture Exchange nor its regulated service providers (as that term is defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

appendix

Summary of Past Exploration Programs and Results

• Since 2016, the property has been explored for its gold and copper-gold potential. Previous works include:
  • Exploring: 991 grabs and 96 channels of rock samples (Grab samples are selective in nature and unlikely to represent average grades).
    
  • soil survey: 1,457 samples;
  • Lake bottom sediment survey (“LBS”): 379 samples;
  • Herringbone magneto-electromagnetic survey: 2,234 line-kilometers;
  • ground geophysics: 50.3 line-kilometer inductive polarization (“IP”) survey, 75.8 line-kilometer magnetic survey.
  • core drilling: 11 holes totaling 2,085 meters.

• The exploration phase so far has yielded the following important results (See Figures 10-12):
  • Hyperion Prospect Discovery: up to 7.17 g/t gold along the steep shear contact between the iron bed and the mafic volcano. Gold mineralization is associated with anomalous cobalt-, silver-, and tellurium-bearing semi-massive arsenite dispersal. Further east, another region shows high background gold values, including bismuth and molybdenum. These prospects correlate with several strong east-west oriented electromagnetic conductors, a magnetic high axis and strong Cu-Mo-Ag-Bi-W anomalies in the LBS. Future trends over this 10.5 kilometer (“hyperion trends“) Additional exploration work is guaranteed (see press release) November 6, 2018, March 20th and April 15, 2019).
  • Copperfield East Discovery: Future trends over this 10 km (“Copperfield East Trend“) is defined as the spatial association of:

a) Strong copper anomaly in LBS. It correlates well with an intense soil copper anomaly, 5.5 km long and 500 m wide, with a polymetallic footprint comparable to the LBS anomaly (Cu-Mo-Ag-Bi-W).

b) A significant mineralized boulder field with the highest grade of 141 boulders sampled 20.1% Cu, 2.99 g/t Au, 58 g/t Ag, 0.24% Mo;

c) Several high-grade mineralized outcrops in the eastern part where overburden tends to be the thinnest.Highest grade returned 9.8% Cu, 13.4 g/t Au, 37.6 g/t Ag and 1.0% Mo From a grab sample.

d) A series of 10-kilometer IP-rechargeable anomalies coincided with copper anomalies in the soil. Two 500 meter long electromagnetic conductors are located in the western extension of the IP anomaly.

The main host rock is biotite-rich gneiss. The predominant copper mineral is chalcopyrite as seeds or semi-massive veins and veinlets, frequently accompanied by bornite and chalcopyrite. The Copperfield trend is interpreted as a Cu-Au-Ag-Mo porphyry system located along the edge of an intrusion and subsequently sheared by regional-scale tectonic movements (See press release July 22, October 16th, October 23rd, December 9, 2019, April 27th and October 6, 2020).

October and November 2020, First core drilling program (11 holes, 2,085 meters) tested several IP targets along the Copperfield East trend with the following key results:

Hole PIK20-001: 0.46% copper or more 4.45 meters (from 187.8m To 192.25 meters), include
3.38% Cu, 25.5 g/t Ag, 0.14% Zn that’s all 0.5m (from 191.25 meters To 191.75 meters)

Hole PIK20-003: 2.14 g/t Au over 1.50 meters (from 27.5m To 29.0m)
0.28% Cu, 3.22 g/t Ag or more 2.15 meters (from 114.65 meters To 116.8m)
0.48 g/t Au, 0.15% Cu, 2.16/t Ag or more 0.95 meters (from 127.45 meters To 128.4m)
0.85 g/t Au, 0.25% Cu, 0.33% Zn, 0.1% Pb or more 0.6m (from 149.4m To 150 meters)

Hole PIK20-007: 0.53% copper or more 2.65 meters (from 30.5m To 33.15 meters), include
1.31% Cu and 112 ppm Mo that’s all 0.9m (from 32.25 meters To 33.15 meters)

Hole PIK20-008: 0.44 g/t gold that’s all 1.5 meters (from 81.0m To 82.5m)

Hole PIK20-011: 0.20 g/t Au, 1.16 g/t Ag, 0.11% Cu over 1.0m (from 118.0m To 119.0m)
0.23% Cu, 2.1 g/t Ag, 282 ppm Mo that’s all 0.6m (from 158.4m To 159.0m)

Hall PIK20-002, -004, -005, -006, 009, and 010 do not contain significant values. The coordinates of the holes are displayed as: table 1.

These results constitute the first step in a promising validation of the Copperfield East trend. Copperfield East has only been partially tested and there is still room for additional drilling.

Drilling contract and analysis protocol

Forge RJLL Ruyne Noranda, Quebecperformed the drilling job using the NQ core diameter. Drill core samples were sent to AGAT Laboratories. Valdor, Quebec. Exploration samples were also sent to ALS Minerals. Valdor. Gold was analyzed by atomic absorption and gravimetric fire analysis for grades above 3.0 g/t Au. A sample of the 48-element suite was also analyzed using ICP. Azimut applies his industry standard QA/QC procedures to drilling programs. All batches of drill core samples include certified reference materials, blanks, and field replicates.