Azimut says drill program at James Bay property encountered antimony, gold

Azimut Expedition (TSXV: AZM) reported drill outcomes as high as 6.5 metres rating 3.43% antimony and 2.37 grams gold per tonne at its Wabamisk task in Quebec’s James Bay area.

That result, component of what the business called “really motivating” lead to opening WS25-40 from 3 metres deepness in the building’s Fortin area, consisted of 51.5 metres at 1.1% antimony and 0.38 gram gold, Azimut stated Thursday.

Antimony, noted as an essential mineral by Canada, the USA and the European Compensation, has actually seen its cost skyrocket in current months after China– which makes up 60% of worldwide result– enforced export limitations, causing supply scarcities.

Neither Canada neither the United States generate the steel, which just recently traded at $58,000 per tonne in Rotterdam, though some jobs with antimony– such as Perpetua Resources’ (Nasdaq, TSX: PPTA) Stibnite website in Idaho– might begin manufacturing in a couple of years.

Some 28 openings returned periods rating greater than 0.2% antimony, consisting of 15 that additionally generated gold periods of greater than 1 gram over at the very least 1 metre, Azimut stated. Of that number, 8 had qualities over 4 grams over at the very least 1 metre.

Enhanced drill program

Azimut started piercing at Wabamisk in late 2024 to act on a surface area exploration in the Fortin area. The program, which was broadened in January and ended in March, consisted of 51 ruby drill openings over 6,396 metres. Outcomes will certainly sustain the prep work of the summer season project, which is readied to make up 10,000 metres of infill and development exploration.

Various other remarkable outcomes launched Thursday consist of those of opening WS24-06, which reduced 1.08% antimony and 0.53 grams gold over 22.7 metres from 78.5 metres downhole. This consisted of 1.74% antimony and 1.15 grams gold over 9.5 metres.

Wabamisk’s antimony-rich area might shift to a much deeper gold-rich area, Azimut stated. Additional exploration will certainly check for antimony-gold upright zoning, a pattern observed in numerous down payments worldwide.

Subparallel fad

Regarding 300 metres southern of the Fortin area, 5 openings were pierced to check a subparallel fad. Opening WS25-35 reduced 0.39 grams gold over 8.8 metres from 28 metres downhole, consisting of 1.49 grams gold over 1.5 metres from 35.5 metres.

Wabamisk, which consists of 662 cases covering regarding 351 sq. km., exists 13 kilometres eastern of Fierceness Gold Mines’ (TSX, NYSE: FIERCENESS) Clearwater building. Various other jobs in the location consist of Nemaska Lithium’s (TSX: NMX) Whabouchi lithium down payment, in which Rio Tinto (ASX, LSE: RIO) is a financier, and Dhilmar’s Eleonore cash cow, which rests 70 kilometres away. The local community is Nemaska, a Cree town town 55 kilometres to the southeast.

Azimut shares dropped 1.7% to C$ 0.59 in Toronto Stock market trading Thursday noontime. That provided the business a market capitalization of regarding C$ 51 million.