The mining sector remains alive and well in Canada, with new developments being announced here and there.
Quebec-based Azimut Exploration Inc. (TSX-Venture:AZM) told investors Monday about the results of an induced polarization geophysical survey conducted this winter over the eastern part of the 20-kilometre Copperfield Trend on the Pikwa Property, in the James Bay region of Quebec. Planned work in 2020 includes an initial diamond drilling program and extending the IP survey westward.
The company pointed up a number of features, among them, a strong 5.5-kilometre-long copper soil anomaly, Several high-grade mineralized outcrops (grabs up to 9.81% copper and 13.45 g/t gold); and an extensive mineralized boulder field (up to 20.1% copper).
The Property is part of the James Bay Strategic Alliance between Azimut and SOQUEM Inc, a subsidiary of Investissement Québec. Azimut is the operator for the Alliance. Azimut Exploration Inc.
Azimut shares took on 10 cents, or 6.9%, to $1.55, on volume of 327,000 shares.