Region
James Bay
Introduction
The Wabamisk property is a ~40 km by 10 km gold project located about 70 km south of the Eleonore gold mine (Newmont Corporation) and has a comparable geological context and geochemical signature. It is also 13 km east of the Clearwater property (Fury Gold Mines Ltd) and 42 km northeast of the Whabouchi property (Nemaska Lithium Inc.). Major powerlines pass through or close to the property's eastern end, and the North Road highway passes 37 km to the south. The nearest town is Nemaska, a Cree community, 55 km to the southeast.
Azimut initially acquired the claims by map designation in 2005 following its James Bay-scale predictive modelling for gold. Wabamisk was optioned to Placer Dome in 2005 before it was transferred to Goldcorp Inc. which was then acquired by Newmont. In 2022, Azimut announced that it regained 100% ownership of the project (PR of August 8, 2022).
While a substantial amount of quality exploration work totalling $5.7 million in expenditures has been conducted by the partners to date, the property remains under-explored and hosts multiple significant prospect discoveries, including the GH Prospect (2.27 g/t Au over 4.3 m within an envelope grading 0.7 g/t Au and 0.39% Sb over 19.0 m), which remains totally open. Several other extensive target zones have been identified and can rapidly reach the drilling stage.