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Zimtu Capital moves quickly to stake Lac Elmer East in Quebec’s James Bay region

by Greg Klein | January 17, 2020

Hoping the geology proves similar, a prospect generator has claimed new turf near a new discovery. Zimtu Capital’s (TSXV:ZC) portfolio now includes the 1,840-hectare Lac Elmer East property, eight kilometres from the eastern edge of Azimut Exploration’s (TSXV:AZM) recent Elmer discovery.

Zimtu Capital moves quickly to stake Lac Elmer East in Quebec’s James Bay region

Acting promptly on Azimut’s January 14 announcement, Zimtu acquired the claims through a 50/50 staking arrangement with a local prospector.

Azimut’s maiden drill program hit a number of impressive intervals, including 3.15 g/t gold over 102 metres, starting at 34 metres in downhole depth. Although nearby results don’t indicate another property’s mineralization, Lac Elmer East trends along the same Archean Greenstone Belt in an area of high magnetic susceptibility.

Zimtu describes its new acquisition as “bounded to the southeast side by a regional dextral strike slip fault and to the north by a sinistral strike slip fault. The property is underlain by a diverse suite of Archean rocks including rhyolite, dacite, tonalite, diorite, gneiss, volcaniclastics and porphyritic felsic intrusions,” as mapped by the province’s ministry of energy and natural resources.

The property has vehicle access from the James Bay Road.

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