Amseco Exploration Ltd.

Amseco Exploration Ltd.

September 26, 2007 09:00 ET

Amseco Exploration Acquires a Gold Property in the La Grande-Roy Play Area

PIEDMONT, QUEBEC--(Marketwire - Sept. 26, 2007) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce the execution of an agreement with an arm's length party to acquire a 100% interest in a gold exploration property located in the La Grande-Roy area in consideration of the issuance of 600,000 common shares from its share capital. The acquisition is subject to the approval of the TSX Venture Exchange.

The property is made up of 20 cells covering an area of approximately 1,023 hectares. It is located some 170 km East of Radisson and can be reached by the Trans-Taiga Road leading to reservoir LG3.

The property comprises mainly volcano-sedimentary rocks bordered on the North by tonalite intrusions and the South by Laguiche Group sediments. The volcanic rocks are predominantly mafic with their comagmatic intrusive equivalent. They contain units of felsic turf and units of sediments.

The region's characteristic mineralization is found in the ENE oriented horizons containing veins and veinlets of quartz-tourmaline and sulphides following the stratigraphy. Many gold showings were identified here and there on the property along this stratigraphic unit.

About 20 kilometers West of the property, more than 30 gold showings were identified on the La Grande Sud property belonging to Virginia Mines Inc. and adjacent to the property. Also, a resource of 350,000 ounces of gold was calculated in zone 32 (Virginia Web site) in a continuous tonalite intrusion in the volcano-sedimentary unit.

The Orezone showing, located a few kilometers East of the property and on the same volcano-sedimentary unit, graded 24.38 g/t Au in a chosen sample and 5.28 g/t Au on l.95 meters in a channel. The C2 showing, located Southwest of the Orezone showing, graded 5.04 g/t Au in a chosen sample.

The securities of Amseco to be issued for the transaction will be subject to a 4 month hold period.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

Contact Information

  • Amseco Exploration Ltd.
    Bertrand Dufour
    President and Chief Executive Officer
    450-240-0522 (FAX)