Amex Exploration Inc.

Amex Exploration Inc.

June 29, 2016 09:30 ET

2016 Winter Drilling Results at Amex's Perron Property

MONTREAL, CANADA--(Marketwired - June 29, 2016) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex") is pleased to announce that Agnico Eagle Mines Limited (TSX:AEM)(NYSE:AEM) ("Agnico Eagle") has recently informed Amex of the 2016 winter drilling results at Amex's Perron property as scheduled (see PR-2016-05-16). This winter work program consisted of nine drill holes (with two others holes, ie # 163-16-025 and -032, that were abandoned due to poor ground condition) totalling 4,646 metres followed by eight downhole PULSE-EM (in holes # 163-16-024, -026, -028 to -031 and -033 to -034; results and interpretation still pending). A total of 1,368 samples were taken and analysed for their metal content (Au, Ag, Cu, Zn) and 141 others were analysed for lithogeochemistry. This latest phase of drilling program was to test the Normetal Mine Horizon over a strike length of approximately 3.5 km and also the target area located approximately 700 metres to the south inside the Beaupré Bloc. Table 1 reports the best drill holes intersects.

Table 1: Best intercepts from the 2016 Winter Drilling Campaign at Perron

Hole From To Length (m) Au (g/t) Ag (g/t) Cu (ppm) Zn (ppm)
163-16-024 333,6 334,3 0,7 4,16 0,3 43 7
163-16-024 500,5 504,2 3,7 0,93 0,7 38 520
163-16-024 incl 502,4 503,2 0,8 2,28 1,3 120 1825
163-16-033 512,1 512,6 0,5 - 5,6 124 1580
163-16-033 531,1 534,0 2,9 0,97 0,5 617 80
163-16-033 incl 533,5 534,10 0,5 2,11 0,5 696 58
163-16-033 539,4 539,9 0,5 1,17 1,0 1035 107
163-16-033* 546,3 546,8 0,5 0,78 0,1 36 31
163-16-033 594,7 597,5 2,8 2,75 0,2 204 166
163-16-033 incl 594,7 595,5 0,8 2,41 0,4 184 370
163-16-033 incl 597,0 597,5 0,5 11,45 0,5 705 124

Table 1: Geochemical analysis was executed by ALS Chemex Laboratories in Val D'Or under Agnico Eagle's QA/QC program and supervision.

* 3 points of visible gold in the section.

In the Beaupre bloc area, two drill holes (holes 163-16-024 and -033) intersected interesting gold mineralization with values of up to 11,45 g/t Au over 0,5 metres (included in a broader zone grading 2,76 g/t Au over 2,8 metres) in hole 163-16-033. Also of interest in this particular hole 163-16-033, the only hole drilled at the northern contact between the Beaupre bloc Rhyolite and the volcano-sedimentary package of the Normetal Mine Horizon, points of visible gold were noted within sulphide bearing stringers cutting the cataclased rhyolite confirming again the very important gold potential of the Beaupre bloc.

The eight holes targeted to intersect the Normetal Mine Horizon along strike successfully hit their target as planned. Most importantly, three of these holes encountered intense stratabound hydrothermal alteration zones characterized typically by a mineral assemblage of Chlorite+Garnet+Biotite+Carbonate (holes # 163-16-026, -029 and -034), of which two of them also intersected semi-massive to massive sulfides zones composed basically by a combination of Pyrite and Pyrrhotite that enhance the potential of finding volcanogenic massive sulphide deposits in the nearby area.

Amex management is pleased with the exploration work done so far by the Agnico Eagle exploration team and is waiting for the next program of work to be presented for the future development of the Perron property.

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, has 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, 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