Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

January 26, 2016 12:02 ET

Agnico Eagle to Begin Winter Drilling at Amex's Perron Property

MONTREAL, CANADA--(Marketwired - Jan. 26, 2016) - Amex Exploration Inc. (TSX VENTURE:AMX) is pleased to announce that Agnico Eagle Mines Ltd (NYSE:AEM)(TSX:AEM) "Agnico Eagle" has initiated a new phase of exploration works on Amex 100% owned Perron Property following the recently announced amended option agreement (see PR2015-12-22). This phase of work consists of 9 proposed drill holes totalling about 4700 meters of drilling with combined down hole pulseEM geophysical surveys on two defined target areas.

The first and main target area is located in the vicinity of the new mineralisation intersected in Agnico Eagle's two previous phases of drilling on the Normetal Mine Horizon (NMH) (see PR-2015-12-16 ; see table 1). Eight drill holes are planned 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. This stratabound mineralized horizon has now being followed from surface down to a minimum vertical depth of about 750 meters and a strike length of about 200 meters and is still open in all directions. The mineralized horizon thickness increases with depth, from about 2 meters near the surface reaching up to 10 meters at the deepest hole (hole 163-15-23).

Table 1: Drilling Results from the 2015 Drilling Campaign on the NMH

Hole From to Length (m) Au (g/t) Ag (g/t) Cu (ppm) Zn (ppm)
163-15-015 128,4 129,9 1,5 0,13 6,83 21467 1041
163-15-022 581,0 589,5 8,5 0,04 2,97 137 4132
163-15-022 582,5 583,1 0,6 0,38 20,90 370 14200
163-15-023 807,3 819,4 12,1 0,06 1,50 360 3748
163-15-023 incl 816,0 818,1 2,1 0,22 6,28 1678 16161
Table 1: Geochemical analysis was executed by ALS Chemex Laboratories in Val D'Or under Agnico Eagle Mines QA/QC program and supervision.

Polymetallic intervals in holes 015, 022 and 023 show a continuous panel, concordant to the stratigraphy, that makes the 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) located at about 5 km to the east, that was the richest polymetallic mine of the Quebec Abitibi area.

The second target area is located at about 700 meters to the south of the first target area in a different stratigraphic sequence where a single drill hole is planned to test the Perron gold rich polymetallic mineralization located near the favourable rhyolite-andesite (V1-V2) contact. This drill hole will test at depth the mineralized intersect of hole 165-15-21 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.

The drilling program is scheduled to start early in February 2016, after having received all required permits, and should be completed by the end of April 2016. Two drill rigs will be mobilized in the next coming days.

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