Precious Metals

Azimut Exploration (TSXV:AZM) has announced a ground-based gravity survey will commence on its 100-percent owned Eastmain West Property in Quebec. As quoted in the press release: The objective is to better define the lateral and depth potential of a kilometre-scale high-grade chromite target zone. Recently reported channel sampling results from this part of the property …

Azimut Exploration (TSXV:AZM) has announced a ground-based gravity survey will commence on its 100-percent owned Eastmain West Property in Quebec.
As quoted in the press release:

The objective is to better define the lateral and depth potential of a kilometre-scale high-grade chromite target zone. Recently reported channel sampling results from this part of the property reached 17.21% Cr2O3over 7.54 m, including 33.2% Cr2O3over 3.55 m (see press release of January 19, 2017). The survey will also be used to assess the property’s potential for Ni-Cu-PGE massive sulphides, which may be present in this geological setting. The next work program will consist of mechanical stripping and diamond drilling.
The Eastmain West Property complements Azimut’s strategic gold position in the James Bay region, which comprises 15 properties. Four of these gold projects are subject to active partnerships with Goldcorp Inc., Hecla Mining Company, Eastmain Resources Ltd and Everton Resources Inc., and four others are part of a regional Strategic Alliance with SOQUEM covering a 176,300-km2 area.
The gravity survey will be carried out over the central part of a 4-km-long prospective horizon within a mafic-ultramafic intrusion displaying a strong magnetic and electromagnetic signature. The survey aims to characterize the footprint and extensions of two high-grade chromite prospects (Dominic and Sledgehammer) within an area measuring 1,200 m long by 900 m wide.
The gravity method is a proven geophysical tool for delineating the footprints of major chromite deposits in the Ring of Fire in Northern Ontario. As an example, a strong gravity anomaly marks the 1,400-m strike length of the Big Daddy deposit owned by Noront Resources Ltd and KWG Resources Inc. (measured and indicated resource of 29.1 Mt at 31.7% Cr2O3, inferred resource of 3.4 Mt at 28.1% Cr2O3). The geological context and chromite mineralization of the Eastmain West Property share many common features with the chromite-bearing intrusions of the Ring of Fire, as highlighted by several independent studies (see press release of January 19, 2017).
Chromite is the ore mineral of chromium. Its high resistance to corrosion and very high melting point make it a key element in the production of stainless steel and heat-resistant steel. There are no chromite producers in North America and the global market context is favourable.

Click here to read the full press release.

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