Azimut Exploration Inc. reported that a comprehensive lithium-focused prospecting program is underway on the Wapatik Property in the Eeyou Istchee James Bay region of Quebec. Eight (8) extensive target areas have been identified on the Property. Wapatik is about 20 kilometres north of Allkem?s lithium deposit (mineral resource of 110.2 Mt at 1.30% Li2O, published in August 2023).

The Property is under option to MontRoyal Resources Limited . Mont Royal can acquire an initial 50% interest in the Property by spending $4 million in exploration expenditures over four (4) years and a further 20% interest with an additional investment of $3 million and the delivery of a preliminary economic assessment over three (3) years. Azimut operates this partner-funded program.

The Wapatik Property also displays demonstrated potential for intrusion-related nickel-copper mineralization and shear-related gold mineralization, based on the results of exploration programs conducted by Azimut and Mont-Royal since 2021. Follow-up drilling on the nickel targets has already been planned but remains contingent on the outcome of the current lithium assessment phase.