Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

August 02, 2016 12:42 ET

Amex Completes Airborne Geophysics Survey on its Eastmain River North and South Properties, James Bay

MONTREAL, QUEBEC--(Marketwired - Aug. 2, 2016) - Amex Exploration Inc. (TSX VENTURE:AMX) is pleased to announce that it has just completed an airborne geophysics survey on its 100% owned Eastmain River North and Eastmain River South properties situated in the Eeyou Istchee Territory, James Bay, Québec. These two properties are located approximately 350 km North of the town of Chibougamau, Quebec and are both accessible from Chibougamau by the new 243-kilometer-long all-season road to Stornoway's Renard diamond Mine (route 167 extension). The whole area is part of Quebec's Government ¨Plan Nord¨ Development Program.

The Eastmain River South property consists of 40 claims totalling 2,160 hectares and is contiguous to the Eastmain Mine property owned by Eastmain Resources inc. The Eastmain Mine, located at about 5 km to the South, has produced some 40,000 ounces of gold at an average grade of 10.58 g/t in 1995 and has a reported historic resources of 255,750 ounces of gold at a grade of 10 g/t Au. Eastmain Resources inc. has just announced a new aggressive exploration program totalling 1.3M $ to be spent in the area (see Eastmain Resources inc. PR 2016-07-12). Geologically speaking, this property is located in the hinge of a major regional fold that affect the entire Eastmain Greenstone Belt that host the Eastmain gold mine and is directly in line with the extension of the called 'NW trending mine horizon' as described in Eastmain Resources inc press release of July 12th 2016.

The Eastmain River North property consisting of 15 claims totalling 788 hectares, is immediately adjacent to the south of SOQUEM Lac Harbour gold property located at about 25 km to the North of the Eastmain Mine. Surface grab and bloc sampling done by SOQUEM returned values of up to 25.9 g/t Au. Channel and drill core sampling has also returned significant gold values of up to 9.14 g/t Au over 0.5 meter (see SOQUEM web site). Geologically, the Eastmain River North property is covering the contact zone between the NE arm of the Eastmain Greenstone Belt and Granitoid rocks of the Canadian Shield.

The geophysical survey consisted of a Heliborne Magnetic and Time-Domain Electromagnetic survey done by independant contractor Prospectair Geosurveys that was prepared and planned by an independant Geophysicist Joel Dubé, P.Eng registered in Quebec.

Jacques Trottier, President states: "We are very pleased to have initiated a new exploration program in an area that until very recently was without no easy access, and consequently, underexplored. In fact, this region is now subject to some new active exploration work done by other junior exploration companies and just few days ago by Eastmain Resources Inc. We are anxious to see the results of our own exploration program that should be available in the next coming weeks. Follow up program will immediately be emplaced."

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.

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