Azimut and SOQUEM Unveil Extensive Lithium Targets in James Bay, Quebec

Azimut Exploration Inc. (TSXV: AZM) (OTCQX: AZMTF) and SOQUEM Inc. have uncovered extensive lithium targets on the Galinée Property in the Eeyou Istchee James Bay region of Quebec, Canada. The discovery of these targets, combined with the project's strong exploration potential, highlights the growing significance of the region as an emerging lithium district.

The 2024 field exploration program on the Galinée Property yielded promising results, with a combination of systematic till sampling and project-scale prospecting revealing new prospective zones with a cumulative length of approximately 18 kilometres. Boulders grading up to 5.36% Li2O were found in poorly outcropping areas, while another promising sector returned up to 2.85% Li2O in boulders within a 10-kilometre zone in the northwestern part of the property.

The discovery of these lithium targets further underscores the project's strong exploration potential, as the spring 2024 drilling program yielded wide intervals of high-grade mineralization in the northernmost part of the Property. The best results include 1.62% Li2O over 158.0 m, 2.48% Li2O over 72.7 m, and 2.68% Li2O over 54.6 m.

The Galinée Property is one of the priorities among the joint venture projects between Azimut and SOQUEM. The project's strategic location, approximately 50 kilometres north-northwest of the Renard diamond mine and 60 kilometres south of the Trans-Taiga Road, an all-season regional highway, provides excellent accessibility and infrastructure support for future development.

The lithium targets on the Galinée Property compare favorably to other known lithium deposits in terms of size, grade, and potential economic viability. The extensive lithium targets, combined with the project's strong exploration potential and favorable location, position the Galinée Property as a promising lithium exploration target in the James Bay region.

The estimated timeline for exploration, development, and production of lithium from these targets is still being evaluated. However, the joint venture's financial projections are expected to benefit from the continued exploration and potential development of these lithium targets.

The valuation of Azimut and SOQUEM's joint venture is likely to be positively impacted by the discovery of these lithium targets, considering the current market conditions for lithium and other relevant factors. As the demand for lithium continues to grow, driven by the increasing adoption of electric vehicles and energy storage systems, the potential economic impact of these lithium targets becomes more significant.

Azimut and SOQUEM may explore strategic partnerships or off-take agreements to maximize the economic impact of these lithium targets. By securing long-term supply agreements and strategic partnerships, the joint venture can enhance the project's financial viability and contribute to the growing demand for lithium in the global market.