Azimut signs JV agreement with KGHM for Kukamas copper-gold property

Under the agreement, KGHM International can acquire from Azimut an initial 50% interest in the property over four years with US$5 million in exploration expenditures and can earn an additional 20% interest with a further investment of at least US$4.2 million to complete and deliver a preliminary economic assessment study (PEA).

A first exploration programme totalling US$700 000 will be undertaken in early 2023, and will include a high resolution magnetic-electromagnetic heliborne survey, a detailed lake-bottom sediment survey, followed by focussed prospecting on targets defined by these surveys. Azimut is the operator.

The Kukamas property covers a 41km cumulative strike length along a highly prospective greenstone belt (the Yasinski Group) within the La Grande Subprovince of the Archean Superior Province. Kukamas displays one of the strongest geochemical footprints for copper-gold mineralised systems in the James Bay region, marked by strong values in copper, silver, arsenic and antimony in lake-bottom sediments. The geology is characterised by extensive shear zones, clastic metasediments, iron formations, and mafic to felsic metavolcanics surrounding granitic intrusions. The project is considered as largely underexplored. Numerous known prospects sit on or adjacent to the property. Historical grab samples collected on the project graded up to 10.63 g/t Au and 20.7 % Cu. Note that grab samples are selective by nature and unlikely to represent average grades.

Two main target types are considered: 

• Shear-related copper-gold systems. 
• Intrusion-related nickel-copper-cobalt-PGE systems.

The property comprises 536 claims (272.1 km²) in two blocks of claims. The project is easily accessible with major infrastructure nearby. It is located 4 km north of the Trans-Taiga Road and the LG-3 airstrip (Km 100), along an access road leading to the LG-3 hydroelectric generating station just north of the property. The nearest town is Radisson, 80 km to the north-northwest.

Read the article online at: https://www.globalminingreview.com/mining/13122022/azimut-signs-jv-agreement-with-kghm-for-kukamas-copper-gold-property/