Azimut and KGHM Expand the High-Grade Nickel-PGE Perseus Zone, Kukamas Property, James Bay Region, Quebec
Multi-commodity explorer leveraging strategic partnerships to fund high-grade discoveries across Quebec’s James Bay region.
The most recent news (Feb 26, 2026) reports significant high-grade nickel-PGE drilling results from the Kukamas Property. Highlights include 4.27% Ni and 2.63 g/t PGE over 8.6m. The program successfully expanded the "Perseus Main Zone" to a 135m strike and 100m depth, while identifying a new "Perseus East Zone" 100m away. This follows the Feb 18, 2026, closing of the Galinée property sale to Li-FT Power, which provided Azimut with 2 million Li-FT shares (valued at ~$13.4M) and a 1.4% NSR royalty.
The impact is Routine - Positive. While the drill results are high-grade and technically impressive, they represent incremental progress on a project where high grades were already known (previous results up to 19.6% Ni). - Operational De-risking: The expansion of the Perseus zone and the discovery of a subparallel horizon (East Zone) increase the scale potential of the project. - Financial Strength: The recent closing of the Galinée transaction is highly material to the balance sheet, providing liquid equity (Li-FT shares) and future royalty cash flow without further dilution. - Strategic Validation: The results confirm the "Kambalda-type" model Azimut has been promoting, which is attractive for major partners like KGHM.
Azimut is a "prospect generator" that uses proprietary big-data analytics to identify targets in Quebec. - Flagship Project: Elmer Property (100% owned), hosting the Patwon Gold Deposit (311k oz Indicated, 514k oz Inferred). - Secondary Focus: Wabamisk (Gold-Antimony) and Kukamas (Nickel-PGE).