Introduction
The Kukamas property covers a 41-kilometre cumulative strike length along a highly prospective greenstone belt. It displays one of the strongest geochemical footprints for copper-gold systems in the James Bay region, marked by strong values in copper, silver, arsenic and antimony in lake-bottom sediments. While numerous known prospects sit on or adjacent to the property, the project is considered largely underexplored. Shear-related copper-gold systems and intrusion-related nickel-copper-cobalt-PGE systems are the main target types.
In December 2022, Azimut announced the signing of a joint venture option agreement with KGHM International Ltd for this property. KGHM International is a subsidiary of KGHM Polska Miedź S.A, a Polish corporation that has been a major copper and silver producer for more than 50 years, with mining projects in Europe, North America and South America. Under the agreement, KGHM International can acquire from Azimut an initial 50% interest in the property over 4 years with $5 million in exploration expenditures and can earn an additional 20% interest with a further investment of at least $4.2 million to complete and deliver a preliminary economic assessment (PR of December 8, 2022)
The project is located near regionally important infrastructure, situated along an access road leading to the LG-3 hydroelectric generating station and only 4 km north of the LG-3 airstrip and the Trans-Taiga Road, a nearly 600-km-long gravel highway running east-west through the James Bay region. The nearest town is Radisson, 80 km to the north-northwest.