Longueuil, Québec - Azimut Exploration Inc. ("Azimut") announces the closing of a $2,876,125 private placement of 767,500 units of Azimut at a price of $0.75 per unit and 2,675,000 flow-through shares at a price of $0.86 per share. The placement was made through Desjardins Securities Inc., as agent ("Desjardins" or the "Agent").
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces that, subject to regulatory approval, including that of the TSX Venture Exchange, it will issue an aggregate of 83,430 common shares in payment of an aggregate amount of $51,392.82 of debt, representing the six-month period interest payment due on debentures and a loan agreement. The shares will be issued by Azimut at a deemed price of $0.616 per share.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces the discovery of significant prospects on the Kativik property, 100% owned by Azimut and optioned to Nemaska Exploration Inc. ("Nemaska").
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces the staking of 817 additional claims in the immediate vicinity and along the extensions of the REX property (see press release of November 23, 2009). Several of the new map-staked areas include previously recognized high-grade gold-silver-copper and copper-cobalt prospects. These prospects further confirm the mineral endowment and strong exploration potential of the REX property, a large rare earth element (REE) and copper target. Azimut has now acquired a controlling land position in this highly prospective but largely under-explored region of Nunavik.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is pleased to announce that it has engaged Desjardins Securities Inc. to act as Agent ("Desjardins" or the "Agent") for a private placement of approximately $3,000,000 in units and flow-through shares (the "Offering"). The Issuer has also granted the Agent an option entitling it to purchase up to an additional 15% of the Offering at the issue price exercisable until 24 hours prior to closing of the offering.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") is pleased to report that it has identified a major rare earth element (REE) and copper exploration target in Nunavik, Quebec. This target, now forming the REX property, displays one of the strongest and most extensive geochemical footprints for REE at the scale of both Quebec and Labrador. Azimut considers that this footprint is best explained by the presence of a significant REE mineralized system on the property. The target was identified following a systematic mineral potential assessment of the entire province of Quebec and Labrador.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports that its partner Goldcorp Inc. ("Goldcorp") has made progress with the 2009 exploration program on four (4) gold targets and one (1) copper-zinc-silver target on the Wabamisk property. A follow-up program consisting of 2,000 m of diamond drilling is being considered for the upcoming winter season.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") reports positive results following a summer 2009 exploration program on its 100% owned North Rae and Daniel Lake properties in the Ungava Bay region of Nunavik, Quebec. Channel sampling on six (6) of the twelve (12) known uranium-mineralized outcrop zones includes the following results:
Longueuil, Quebec - Azimut Exploration Inc. announces it has recently completed an exploration program to advance its 100% owned North Rae and Daniel Lake properties located in the Ungava Bay region of Nunavik, Quebec. Twelve (12) uranium-bearing mineralized zones with a cumulative length of 17 km have been discovered at surface on these properties during previous exploration programs (see press release of February 19, 2009).
Longueuil, Quebec - Azimut Exploration Inc. announces that a 3,500 metre drill program is underway at its Eleonore South property. Les Mines Opinaca Ltée (a wholly-owned subsidiary of Goldcorp Inc.; "Goldcorp") and Eastmain Resources Inc. ("Eastmain") are funding this $1.6-million exploration program, which is designed to drill-test a sedimentary-hosted discovery at the JT gold zone as well as other priority targets on the property. Azimut has reviewed and approved the current drill program. While it has decided not to contribute at this time, the Company may decide to participate in future work, depending on the results.
Longueuil, Québec - Azimut Exploration Inc. ("Azimut" or the "Company") announces the closing of a non-brokered private placement totalling $300,000 with SIDEX, a limited partnership company ($150,000), The Fonds régional de solidarité FTQ Nord-du-Québec ($100,000) and Mr. Dennis Wood, Azimut's Chairman of the Board ($50,000).
Longueuil, Québec - Azimut Exploration Inc. ("Azimut" or the "Company") announces the closing of a non-brokered private placement totalling $250,000 with Sodémex II, a limited partnership company ($150,000), and The Solidarity Fund QFL ($100,000).
Longueuil, Quebec - Azimut Exploration Inc. (TSX-V: AZM) ("Azimut") and NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) ("NWT") have concluded a definitive agreement to terminate the option agreements previously granted by Azimut to NWT in respect of the North Rae and Daniel Lake properties located in the Ungava Bay region, Nunavik, Quebec. The two properties are comprised of 1,853 and 972 claims respectively, covering areas of 827 km2 and 440 km2.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") announces that its partners Les Mines Opinaca Ltée ("Opinaca"), a wholly-owned subsidiary of Goldcorp Inc. ("Goldcorp"), and Eastmain Resources Inc. ("Eastmain") will fund a $1.6 million exploration program in 2009 on the Eleonore South property located in the James Bay region, Quebec. This program will mostly consist of a 3,500 m drilling program to test sediment-hosted gold targets. Azimut has reviewed and approved the technical program but has decided not to contribute to it.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") announces that a total of 590,000 stock options have been granted to its directors, officers, employees and consultants. Of this number, 565,000 have been granted to its directors and officers and 25,000 to its employees and consultants. These options have an exercise price of $0.34 per share and are exercisable during a 10-year period.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") and its partner Rukwa Uranium Ltd ("Rukwa") report encouraging results for their 2008 field program at the North Minto and South Minto properties in Nunavik, Quebec. The highlight of the program was the discovery of a high grade prospect related to a regional-scale structure, yielding up to 1.21% U3O8 with a U/Th ratio of 25,600. This target, which warrants a priority follow-up, may represent a major late-stage structurally-controlled mineralized system.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut" or "the Company") is pleased to provide corporate information and an update on its business strategy. In the current challenging economic context, Azimut would like to restate the fundamentals of the Company. Azimut is very well positioned to capitalize on Quebec’s outstanding business environment, the Company’s distinctive exploration targeting methodology, and its strong exploration results for uranium and gold.
Longueuil, Québec - Azimut Exploration Inc. ("Azimut") and its partner Abitex Resources Inc. ("Abitex") report encouraging results following a first reconnaissance program performed in 2008 on the Kangiq property in Nunavik, Quebec. Several uranium prospects, with grades up to 0.94% U3O8, have been identified, including the on-property extension of the Puqila Zone that had been previously identified on the adjacent Daniel Lake property (see appended map). These results further confirm the region's large-scale uranium mineralized system discovered in 2006. Results obtained concurrently by AREVA on their Cage project independently validate the uranium potential of this 80 x 200 km region.
Longueuil, Quebec - Azimut Exploration Inc. ("Azimut") report significant progress following the 2008 field program on the North Rae and Daniel Lake properties in Nunavik, Quebec. Results further confirm the large-scale uranium mineralized system discovered in 2006 on these two properties covering a 50 x 60 km area. To date, 12 mineralized zones have been outlined at surface with a cumulative length of 17 km and grades up to 3.3% U3O8. These zones show an excellent spatial correlation with uranium anomalies identified during airborne surveys covering the two properties. Azimut believes that the overall uranium potential of the region is well represented by the airborne uranium footprint (see appended map). Many such targets have yet to be field-tested. Results obtained concurrently by AREVA on their Cage project independently validate the uranium potential of this 80 x 200 km region.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") reports that its partner Goldcorp Inc. ("Goldcorp") will start a 2,800-metre diamond drilling program in early February to test several quality gold targets on the Wabamisk property in the James Bay region, Quebec. Wabamisk is located 70 km south of Goldcorp´s Eleonore property that hosts the Roberto gold deposit. Azimut considers that the Wabamisk property shares several characteristics with Eleonore, particularly the presence of gold-enriched altered metasedimentary rocks occurring in the vicinity of the contact between the La Grande and Opinaca geological subprovinces.
Longueuil, Quebec. - Azimut Exploration Inc. (" Azimut ") and its partner Abitex Resources Inc. (" Abitex ") report encouraging results from their summer 2008 exploration program at the South Bienville property in Nunavik, Quebec. A prospecting program assessed target areas that were previously defined using the positive results obtained from the 2007 exploration work, which included anomalous uranium values (up to 841 ppm U) in lake-bottom sediments, helicopter-borne geophysics, and ground-based prospecting.
Longueuil, Quebec. - Azimut Exploration Inc. ("Azimut") and its partner Abitex Resources Inc. ("Abitex") report encouraging results from their 2008 exploration program at the Central Minto property in Nunavik, Quebec. Last summer's one-week initial prospecting work involved the preliminary assessment of two strong targets with a cumulative length of 30 km, which were recognized during the 2007 program.
Azimut Exploration Inc. ("Azimut") announces that Les Mines Opinaca Ltée ("Opinaca"), a wholly-owned subsidiary of Goldcorp Inc., will terminate its right to increase its interest by 6.67% in the Eleonore South project in favour of proceeding with future exploration as a joint venture. As a final option payment on the property, Azimut will receive a payment of $100,000: $80,000 from Eastmain Resources Inc. ("Eastmain") and $20,000 from Opinaca.
2009 Press Releases