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Azimut (AZMTF) Stock Skyrocketed 32%, Why?

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Stock price of the mineral exploration company Azimut Exploration Inc. (OTCPink: AZMTF) rose 36.83% to $1.06 at the yesterdays close. Volume for the Azimut stock was 139.33K in contrast with its Average Weekly volume of 9.15K. AZMTF stock rose on news to continue intersecting wide, high-grade gold intervals.

What were those intersections?

The core business of Azimut is generating leads and developing partnerships. An active exploration program is underway at AZMTF’s 100%-owned Elmer Property in the James Bay region, where the Patwon gold discovery has been made. AZMTF creates a powerful big data analytics approach based on its AZtechMine expert system, augmented with extensive exploration experience.

Azimut announced in a press release yesterday that the Patwon discovery on the Company’s 100% owned Elmer Project in the James Bay region of Quebec continues to intersect wide, high-grade gold intervals.

There are 60 holes in the current 15,000 meter diamond drilling program at Elmer, and AZMTF has completed 35 of those holes so far drilling 10,149 meters; two others are in progress.

The drilling program is intended to:

  • Add 10,000 meters in the Patwon discovery with 30 holes.
  • Test 10 high-quality targets near Patwon with 30 holes spread over 5,000 meters.
  • The most significant results from the first 10 holes at Patwon include 4.08g/t to 39.81g/t Au over multiple depths from 142.8 m to 429.1 m.

AZMTF’s further plans:

AZMTF is drilling a second rig comprise of 5,000 meters (30 holes) in a priority corridor that is 8 kilometers long by 3 kilometers wide, in order to test 10 high-quality targets. According to Azimut (AZMTF)’s management, an excellent chance exists of making a new discovery in Patwon’s vicinity, based on several factors.

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