Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

September 08, 2010 09:00 ET

Amex Confirms New Gold Bearing Structure on its 100% Hold Cameron Property, Northern Quebec

MONTREAL, QUEBEC--(Marketwire - Sept. 8, 2010) - AMEX Exploration Inc. ("AMEX") (TSX VENTURE:AMX) is pleased to announce the discovery of a new gold bearing structure on its 100% owned Cameron property located in Northern Québec. The property is located at about 25 kilometres to the NE of Lebel-sur-Quévillon in the north-western part of Quebec, and consists of 13 claims for a total area of 731 hectares.

Follow up trenching, based on new geophysic surveys (see press release of June, 15th,2010), combined with compilation data from previous trenching and grab sampling done by SOQUEM in the early 90's, as led to the identification of a gold-bearing structure that returned an intersect of 1,07 g/t Au over 2,3 meters by channel sampling across the mineralized structure. This structure is characterized by an altered sheared quartz-feldspar-pyrite-sericite unit that is oriented more or less NE-SW and seems to be related to the regional 'Wedding Fault Zone'.

More specifically, exploration work performed by SOQUEM in 1998 revealed the presence of a gold-bearing rhyolite containing disseminated pyrite in contact with a sheared mafic unit in a trench (trench #91-13). Five out of eight samples, from sampling restricted to felsic rocks, returned gold values ranging from 1 to 7 g/t. Furthermore, three IP anomalies defined during the geophysical survey performed in 1991 were never been tested by drilling. One of these anomalies cuts trench 91-13 has been confirmed by Amex own geophysic survey and has been recently being channel sampled by Amex with the present announced results.

Geologically, the property is covered by volcano sedimentary rocks of the Abitibi Sub province which consists mostly of basaltic to andesitic rocks with five felsic horizons present in the trench area. The property is strategically located near the intersection of the Cameron and Chieftain regional deformation corridors and is cut by the regional NE trending Franquet and Wedding faults. To the northwest, shear-related gold mineralization has been discovered along the NW-SE Cameron deformation corridor at the Flordin deposit with reserves of 815 500T @ 5.1 g/t Au, at the Cartwright deposit with 83 000T @ 10.4 g/t Au and at the Lake Cameron Sud deposit with values of 5.1 g/t over 0.8 meter and 1.3 g/t Au over 13 meters (ref Roy et al. ET-97-02,1997,27 p.). 

This exploration program is a follow up of previous work done by SOQUEM who has explored the north-eastern half of the Cameron property from 1982 to 2005, who mainly performed an Induced Polarisation (IP) survey, a Magnetic survey, as well as digging four trenches for approximately 400 meters linear where they have outlined a gold bearing mineralized structure with values of up to 7 g/t Au from grab samples. The south-western half of the property has been little explored.

Following these first exciting preliminary results, Amex is now proceeding with additionnal geophysics that will cover the entire Cameron property. This survey will be followed by additionnal trenching and sampling on each one of the conclusive IP anomalies. Based on the cumulative results, an agressive follow-up drilling campain will be initiated. According to our time schedule, such drilling should be initiated no lated than October of this year.

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.

The technical information reported in this news release has been approved by Jacques Trottier, geol., Qualified Person as defined by Canadian NI 43-101

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

  • Amex Exploration Inc.
    Mr. Jacques Trottier
    President and Chief Executive Officer
    514-866-8209