Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

May 16, 2016 12:40 ET

2016 Winter Drilling Program Completed at Amex's Perron Property

MONTREAL, CANADA--(Marketwired - May 16, 2016) - Amex Exploration Inc. (TSX VENTURE:AMX) has been informed by Agnico Eagle Mines Ltd (TSX AEM)( NYSE:AEM) "Agnico Eagle" that it has completed its winter exploration program on Amex 100% owned Perron Property as planned and announced in January 2016 (see PR2016-01-25). The Perron project is located approximately 8 km northwest of the village of Normetal, and approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec.

Agnico Eagle's winter drilling program consisted of 9 drill holes totalling 4,643 meters of drilling with combined down hole pulse EM geophysic on two defined target areas.

The first and main target area was located in the vicinity of the latest follow-up drilling of the new mineralisation intersected in previous phase of drilling on the Normetal Mine Horizon (NMH) that returned values of 0.17% Cu, 1.62% Zn, 6.28 g/t Ag and 0.22g/t Au over 2.1 meters in hole 163-15-023 (see PR-2015-12-16).

Eight drill holes were drilled to test the extension of the stratabound mineralized horizon laterally and at variable depth covering an area of about 6 km of strike length along the NMH. Polymetallic intervals, from previous drilling in holes 015, 022 and 023, show a continuous panel concordant to the stratigraphy that makes the target zone very predictable. In these holes, the mineralization lies within the same intermediate lapilli-tuff unit (with the garnet porphyroblasts and the pervasive chlorite alteration) that is similar to the old Normetal Mine (11 MT @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag).

The second target area is located at about 700 meters to the south of the first target area in a different stratigraphic unit where a single drill hole was executed to test the Perron gold rich polymetallic mineralization located near the favourable V1-V2 contact. This drill hole tested at depth the mineralized intersect of hole 163-15-21 that returned 9.45 g/t Au, 2.60 g/t Ag, 300 ppm Cu and 1100 ppm Zn over 0.8 meters within a broader silicified and sericitized altered zone that returned 1.70 g/t Au, 0.58 g/t Ag, 87 ppm Cu and 557 ppm Zn over 5.5m (see PR2015-06-16).

A total of 1,368 samples were taken and sent to ALS -Chemex Laboratories in Val d'Or and Amex have been informed by Agnico Eagle that all of the results should be received at the latest by early June 2016. When available, these results will be announced by Amex promptly.

Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.

Jacques Marchand, P.Eng., who is a Qualified Persons as defined by Canadian NI 43-101, have approved the technical information reported in this news release.

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jacques Trottier, PhD
    President and Chief Executive Officer
    (514) 866-8209