Welcome!

News Feed Item

High Grade Gold Discovered at Larken Prospect, West Omai

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

PERTH, Australia, Jan. 10, 2013 /CNW/ - Azimuth Resources Limited (ASX and TSX: AZH) (the "Company" or "Azimuth") is pleased to announce the discovery of high grade gold at its Larken Prospect, less than 1km from its existing Hicks Deposit.

Highlights

  • First assays from shallow RC drilling at the Larken Prospect returned high grades over substantial widths.  Best results were:
    • LRC007:12 metres @ 4.8 g/t Au from 25 metres
    • LRC009:5 metres @ 2.5 g/t Au from 91 metres.
  • Assay results from this drilling program indicate that the Larken Prospect appears to be on a separate sub parallel structure 700m NE of Hicks. The Company believes this may be the same structure that hosts the Norby Prospect, some 3km to the NW of Larken.
  • The results of drill holes LRC007 and LRC009 when combined with the recently reprocessed and interpreted aeromagnetics illustrate the prospectivity of the West Omai region and specifically, the potential for additional high grade gold bearing structures in close proximity to the Smarts and Hicks Deposits.

"Richard Monti"
Richard MontiExecutive Director

Larken Prospect

Azimuth Resources Limited ("Azimuth" or "the Company") (ASX:AZH) is pleased to announce results from the first assayed reverse circulation drill hole at its 100% owned Larken Prospect ("Larken") located within the West Omai Gold Project, Guyana, South America.

Larken is a small artisanal open pit in saprolite, approximately 50 metres wide by 120 metres in strike and less than 15 metres deep, that was mined in the mid to late 1990s.  The pit lies approximately 700 metres to the northeast of the Hicks prospect and is likely to be a sub parallel structure to the one that hosts both Hicks and Smarts (see Figure 1).  Recent aeromagnetic processing and interpretation would indicate that there may well be a parallel zone of gold anomalism with a strike of at least 3 kilometres.

The Company believes the Norby Prospect (including SRC559 - 5m @ 1.1 g/t Au from 91m) which was drilled in the early stages of 2012, is likely hosted within this same structure, 3km to the northwest.

Results were received recently for LRC007 and LRC009. These were part of a program of 11 holes/1,265 metres drilled directly under the Larken pit as well as into a magnetic trend to the southeast.  Significant intercepts from the program are as follows;

  • LRC007                 12m @ 4.8 g/t Au (from 25m) and
                                   8m @ 0.95 g/t Au (from 91m)
  • LRC009                  5m @ 2.5 g/t Au (from 91m)

Figure 1: Map of first pass drilling at Larken Prospect, showing proximity to existing Smarts and Hicks Deposits on magnetic background.

Encouragingly there is 130m of strike between LRC007 and LRC009, and there has been no drilling to the NW of LRC007, leaving the possibility that the structure remains open at this end. Other holes within the program were successful in intercepting the structure, however returned low grades. These results suggest that there is the potential for ore shoots, similar to those seen within the Smarts Deposit, within the broader structure. The geology of the prospect appears similar to that of Smarts, being a volcanic host with abundant quartz veining in a NW trending shear zone.

The Company is excited by this discovery as it validates the belief that there are other high grade gold bearing structures separate to the Hicks and Smarts structure within the West Omai project.

These intercepts are an extremely encouraging result from the first drilling campaign by Azimuth on a prospect that has not been subject to recent drilling.  Although further drill results are needed to place these intercepts into a definitive geological framework, these results are a great starting point for a new high priority exploration target expected to be better defined in the coming months.

Outlook

As the Company recommences drilling activities in 2013, Larken is a prospect that will receive a more prioritised focus. Along with several other targets generated by the Company, Larken will be further tested in the first quarter of 2013.

In parallel, the Company is working diligently towards releasing its upgraded resource statement within the same period.

Competent Person's Statement

The scientific and technical information in this news release is based on information compiled by Mr. Richard Monti who is a member of the Australasian Institute of Mining and Metallurgy. Mr. Monti is a Director of Azimuth Resources Ltd.  Mr. Monti has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and a qualified person as defined in National Instrument 43-101. Mr. Monti consents to the inclusion in this news release of such information and approves such information in the form and context in which it appears.

For a description of Azimuths data verification process, quality assurance and quality control measures, the effective date of the mineral resource and mineral reserve estimates contained herein, details of the key assumptions, parameters and methods used to estimate the mineral resources and reserves set out in this report and the extent to which the estimate of mineral resources or mineral reserves set out herein may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues, readers are directed to the technical report entitled "Technical Report - West Omai Gold Project, Guyana" dated May 30, 2012.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information, including statements regarding exploration results, the potential mineralisation and geological merits of the Hicks and Smarts Deposits and Larken Prospect, other geological prospects and the plans, objectives or expectations of the Company with respect to the advancement of these projects and completion of programs and studies.  Any statements that express or involve predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "likely", "appears", "Indicates", "believes", "possibility", "suggests", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are forward-looking statements.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking statements, including, without limitation: inherent uncertainties and risks associated with mineral exploration; uncertainties related to the availability of future financing; uncertainties related to the outcome of studies; uncertainties relating to fluctuations in gold or uranium prices; the risk that Azimuth's title to its properties could be challenged; uncertainties related to general economic and financial conditions; and uncertainties related to fluctuations in Azimuth's share price.  This list is not exhaustive of the factors that may affect any of Azimuth's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of Azimuth or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Description of the Business - Risk Factors" and elsewhere.

Azimuth's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date hereof and which Azimuth believes are reasonable in the circumstances, but no assurance can be given that these expectations will prove to be correct. These assumptions include, but are not limited to public statements and stated goals, that there will be no material adverse change affecting the Company or its properties and such other assumptions as set out herein. Azimuth disclaims any intention or obligation to update or revise forward-looking statements if circumstances or management's beliefs, expectations or opinions should change, except as required by law.  For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

Table 1: Larken Drillhole Details

Hole ID Azimuth Dip End of
Hole
Depth
UTM Zone
21
Northing
UTM Zone
21
Easting
From To Width Grade
g/t Au
LRC001 215 -55 103 620002 273960       NSI
LRC002 215 -55 121 619961 273938       NSI
LRC003 215 -55 121 619914 273917       NSI
LRC004 35 -55 121 619989 273960       NSI
LRC005 35 -56 121 620040 273971       NSI
LRC006 35 -55 121 620095 273981       NSI
LRC007 215 -55 103 620397 273507 25 37 12 4.8
            91 99 8 0.95
LRC008 215 -56 109 620315 273620 26 27 1 0.85
LRC009 215 -55 109 620343 273629 91 96 5 2.5
LRC010 35 -55 121 620220 273682 11 12 1 0.64
            31 32 1 0.65
LRC011 35 -56 115 620184 273650 44 47 3 0.54

 

 

 

 

SOURCE Azimuth Resources

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Carbonite will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The hot topics in the industry today seem to center around Digital Transformation and Mobile Apps. While a digital transformation strategy is crucial to keep up with the chaos in your industry, customer demands, and other disruptions, the need to create mobile apps to remain relevant in your market and to your customers is equally a no-brainer. Regardless of the approach, the next question always seems to pop up: What architecture should I chose? Native? Hybrid? Managed? Hosted?
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that EARP Integration will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?