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Corvet

  • Region

    James Bay

    Size

    45,100 Ha

    Metals

    Li, Au-Cu

    Target Style

    Shear-related Cu-Au systems / Pegmatite-hosted lithium

    Stage

    Early Stage - Technical assessment

    Operator

    AZM

    Ownership

    100% Azimut - Option to Rio Tinto

    2024 Planned Program

    Prospecting, Drilling

    Introduction

    The Corvet property lies immediately south of the Company’s Pikwa property, near the Trans-Taiga Road, a nearly 600-km-long gravel highway running east-west through the James Bay region. It is 55 km southwest of the La Grande-4 airstrip and 225 km east-southeast of Radisson. The property straddles a major tectonic boundary and displays a strong multi-element (Ag-As-Bi-Cu-Sb) spatial association in lake-bottom sediments. The property also covers an outstanding lithium exploration target represented by a prominent 26-km-long Li anomaly in lake-bottom sediment coupled with strong Rb, Cs, Ga and Sn footprints. The property occupies a strategic location relative to the emerging Corvette (Patriot Battery Metals) lithium district. 

    In July 2023, Azimut announced the signing of an option to joint venture agreement with Rio Tinto Exploration Canada Inc ("Rio Tinto"). Rio Tinto can acquire an initial 50% interest on the property from Azimut over 4 years by funding $7 million in exploration expenditures and by making cash payments totalling $850,000. Rio Tinto can earn an additional 20% interest over 5 years with further work expenditures of $50 million. Azimut holds the right, should it choose, to be funded to production by way of secured loan from Rio Tinto by granting Rio Tinto an additional 5% interest in the property (for a total interest of 75%). Azimut will be the operator during the first option phase and Rio Tinto will be operator during the second option phase.

  • Azimut acquired the Corvet property after identifying a strong multi-element (Ag-As-Bi-Cu-Sb) spatial association in lake-bottom sediments during its technology-driven (AZTechMine™) mineral potential assessment of the James Bay region. Reconnaissance fieldwork programs completed by Azimut yielded anomalous values in grab samples for gold (0.111 g/t Au), copper (0.12% Cu) and arsenic (668 ppm As) within a target area measuring 7 km by 1.5 km.

    No lithium targeted exploration programs have been completed on the Corvet.

  • The Corvet property straddles the contact between the La Grande Subprovince to the north and the Opinaca Subprovince to the south (Archean Superior Province).

    The majority of the property is underlain by La Grande rocks belonging to one of two formations:

    • The Marbot Formation, composed of paragneiss derived from feldspathic wackes. Iron formations and numerous tonalitic dykes are also present.
    • The Corvette Formation, composed of amphibolite derived from intermediate to mafic volcanics.

    The southernmost part of the property is occupied by Opinaca rocks belonging to the Laguiche Complex, consisting of migmatized biotite-garnet paragneiss and frequent granite injections.

  • September 9, 2024
    Azimut Provides Update on its Exploration Activities in Quebec

    June 11, 2024
    Azimut Updates on its Strategic Approach, Launches Work Programs

    August 21, 2023
    Azimut Provides Update on its Exploration Activities

    July 10, 2023
    Azimut and Rio Tinto Sign Agreements for the Corvet and Kaanaayaa Lithium Properties, James Bay Region, Quebec

    January 23, 2023
    Azimut Identifies Significant Lithium Exploration Potential on its Extensive Land Holdings in the James Bay Region, Quebec, Canada

    July 8, 2019
    Azimut Conducts Predictive Modelling for Copper Over the James Bay Region and Acquires Four Quality Projects

    June 6, 2018
    Azimut and SOQUEM undertake a $1.5 Million Exploration Program on Seven Gold Projects in the James Bay Region of Quebec

    October 17, 2017
    Azimut and Partners announce High-Grade Gold Surface Discovery at Eleonore South, James Bay region, Quebec

    July 13, 2017
    Azimut and SOQUEM expand their Strategic Alliance with Seven Additional Gold Properties, James Bay region, Quebec