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AZIMUTH RESOURCES LIMITED

ASX: AZH

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Delisted following compulsory acquisition by Troy Resources Limited

Azimuth Resources Limited is an ASX listed junior explorer focused on its portfolio of gold and uranium exploration projects in Guyana, South America, which comprise 7,330km2 of granted licences (East and West Omai Projects) prospective for gold and 4,000km2 (Amakura Project) prospective for uranium mineralization in the northwest of Guyana.

Azimuth also owns a portfolio of iron ore and energy projects in Australia, including the Balladonia Uranium project in Western Australia.

Azimuth has a highly skilled and competent Board focused on delivering shareholder value and the Company continues to assess acquisition opportunities to complement its existing portfolio.

Guyana - South America

Amakura - 4000 km2

Reconnaissance Permit prospective for granite hosted and sodic-metasomatic uranium deposits.

East Omai - 7330 km2

Reconnaissance Permit granted for Gold and base metals covering an 80 km strike by 40 km width portion of the greenstone belt which hosts the World class Gross Rosebel, and Omai Gold mines.

West Omai - 830 km2

Aggregation of licenses granted for gold and precious metals located between 15km and 60 km to the west and northwest of the Omai Gold mine. West Omai is Azimuth's cornerstone project. It sits astride a largely unexplored 30-40 kilometer strike length of the same structural stratigraphic corridor which host's Iamgold's 3.7 million ounce Omai Gold Mine. The West Omai Project presents excellent potential for the discovery of significant gold resources, and contains several drill and near drill ready targets. Key features of the project are:

The largest single artisanal bedrock gold working in Guyana - the Kaburi Prospect, where multiple sub-parallel 5-20m wide quartz stock work and sheeted vein zones have been exploited within an area of 500m by 400m. Kaburi has never been subject to drilling or modern exploration but represents a first order target.

Numerous artisanal bedrock and alluvial gold workings combined with several regions of significant geochemical stream sediment anomalism, all of which can be spatially related to readily discernable regional structures, lithologies and trends. These define a discreet corridor of gold mineralization and a first order target for systematic exploration.

A substantial portion of the mineralized corridor is masked by a thin veneer of unconsolidated transported overburden which has left large portions of the corridor untested and virgin.

The management of Azimuth believes that high shareholder returns will be realized through an early focus on the aggressive, systematic and thorough exploration of the West Omai Project, building on the known existing near surface gold resource, while underpinning long term shareholder value by pursuing a measured and cost effective approach to the exploration of its large regional land holdings. Azimuth's ultimate objective is to become a gold producer as soon as practical with the longer term goal to reach mid-tier gold and uranium producer status based on low cost, long life operations.

Australia

The Balladonia Uranium project is located in the Eucla Basin within distance of both the bulk transport rail link between Kalgoorlie and Esperance (45km east) and the deep water port of Esperance (150km north).

The Pandanus West Project is a JV with Southern Uranium Limited (ASX:SNU) who are the manager of the project. Pandanus West is located within the Georgetown–Townsville Uranium field, Queensland. Previous exploration in the region discovered the Ben Lomond and Maureen deposits, with measured and indicated mineral resources estimated at 6,792 tonnes U3O8 with an average grade of 0.228% U3O8. A field survey was completed which focused on drill hole siting at Pandanus West and this program identified further areas of interest for follow up ground radiometric and soil sampling programs.

The Mt James project is a JV with Alara Uranium Limited (ASX:AUQ) who are the manager of the project. Mt James consists of two full size exploration licences, E09/1195 at the Gascoyne River prospect and E09/1196, covering 392km2 located approximately 260km east of Carnarvon, Western Australia. The two tenements are granted and cover an extensive area of known uranium mineralised calcrete. The uranium mineralisation is carnotite within valley and terrace calcrete deposits. An additional field survey was undertaken where samples were taken throughout the project area, that were subsequently assayed by ALS Chemex identifying areas of interest for a planned drill program.

Mine For

gold, uranium

Location of operation(s)

Guyana, Western Australia, Queensland

Australian Basins

Eucla

Address

Suite 2, 12 Parliament Place
WEST PERTH, WA, AUSTRALIA

Phone

+61894820540

Email

Website


Last Updated

8/08/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.