Strategic position near Eleonore Gold Mine
The Opinaca A Property is adjacent to Goldcorp’s Éléonore gold mine property. It is located approximately 850 km north of Montreal, and consists of 322 claims in 1 block for a total surface area of 167.7 km2 (as at April 21, 2016).
Azimut’s partner Everton Resources Inc. has a 50% interest on the Opinaca A property since April 2010.
Recent exploration highlights
In 2014, Hecla funded and operated an $850,000 exploration program on the Opinaca A property under the terms of a previous agreement. The program included 2,316.9 metres in nine (9) diamond drill holes, as well as prospecting, channelling and till sampling (see press release of March 19, 2015).
The 2014 diamond drilling program focused on the Smiley Prospect, which lies 8 km northeast of the Éléonore mine. This prospect is associated with an E-W trending deformation corridor at its intersection with other subsidiary structures. The drilling program was designed to test a strong gold anomaly in till associated with a gold-arsenic anomaly in soil. In 2008, drilling by Everton had yielded positive results at the Smiley Prospect, including 4.2 g/t Au over 1 m and 0.4 g/t Au over 1 m. The target remains unexplained to date, although locally intense alteration was observed in greywackes and paragneiss.
The 2014 prospecting and till surveys improved target definition in the Charles Prospect area, and the prospect was extended with grades up to 2.57 g/t Au. Previous results yielded up to 35.9 g/t Au from grab samples.