Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

December 09, 2015 09:30 ET

Amex Extends by Drilling High Grade Gold Bearing Structure at Cameron, Abitibi.

MONTREAL, QUEBEC--(Marketwired - Dec. 9, 2015) - Amex Exploration Inc. (TSX VENTURE:AMX) is very pleased to announce that it has just received the final results of its latest drilling campaign on its 100% owned Cameron gold property, confirming the lateral and at depth extensions of the high grade gold mineralized structure discovered by Amex in 2011 with values of up to 11,2 g/t Au over 0,3 meter located within a broader lower grade zone that returned, as an example, an average value of 1,38 g/t Au over 7,1 meters in hole CA2015s08 (see Table 1).

Table 1

Hole From to Length (m) Au (g/t)
CA2015s01 58,30 65,50 7,20 0,62
Incl 58,90 62,00 3,10 1,13
Incl 58,90 60,00 1,10 1,95
CA2015s01 75,30 76,40 1,10 1,20
CA2015s02 134,00 137,00 3,00 0,26
CA2015s03 337,60 341,50 3,90 1,39
Incl 337,60 340,10 2,50 1,95
Incl 337,60 339,00 1,40 2,50
CA2015s05 52,00 53,00 1,00 0,68
CA2015s06 128,00 131,80 3,80 0,55
Incl 131,50 131,80 0,30 4,05
CA2015s06 148,00 149,50 1,50 1,18
CA2015s07 63,50 68,40 4,90 0,37
CA2015s08 131,40 135,00 3,60 1,09
Incl 131,40 132,50 1,10 1,83
CA2015s08 134,00 137,50 3,50 0,39
CA2015s08 143.00 150.10 7.10 1.38
Incl 143.00 145.80 2.80 2.18
Incl 144.00 144.60 0.60 5.93
Incl 149.30 150.10 0.80 4.45
Incl 149.80 150.10 0.30 11.17
CA2015s08 156,80 156,30 2,80 0,83
Incl 156,00 156,30 0,30 3,85

The drilling campaign and the quality control program is defined and supervised by Jacques Marchand Eng Geol, The QAQC include insertion of blank, standard or duplicate every 20 samples. The gold value is estimated by Fire Assay at ALS Mineral for hole number 1 to 4 and by Laboratoire d'Analyse Bourlamaque for hole 5 to 8, in Val d'Or. The logging and sampling was realised by Matthieu Picarello Geol.

This latest phase of drilling was initiated in late August of this year (see PR of August 31, 2015) consisted of 8 drill holes totalling 1725 meters and is, in fact, a follow-up of Amex previous drilling done in 2011 and 2013. During these previous phases of drilling, a new gold-bearing shear zone was recognized and identified in a mylonitic intermediate volcanic unit that returned high grade values, for example, of up to 7,37 g/t Au over 1,4 meters located within a broader lower grade zone that returned an average value of 1,27 g/t Au over 9,5 meters in hole CA2013s04 (see PR2014-04-09.)

Following a detailed review and interpretation of all of the previous phases of work, including detailed geophysics and two previous phase of drilling, this new campaign has been prepared by QP Jacques Marchand, P. Eng., an independent consulting geological engineer. This work has lead to a three-dimensional structural model interpretation of the mineralized high-grade gold structure that was successfully tested by this drilling. The pattern of this latest phase was designed to better understand the orientation and continuity of the gold bearing structure. Out of the 8 drill holes, 7 holes have intersected the structure with significant gold values and demonstrate that this structure has a width of about 7,5 to 9,5 meters, oriented ENE-WSW and recognised over a strike length of at least 200 meters (see table 1 for all 2015 drill results). This structure appears from surface to a minimum depth of at least 300 meters, and is open in all directions.

The Cameron 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. Geologically, it 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 Cameron deformation corridor at the Flordin deposit with 1997 estimated reserves of 815 500T @ 5.1 g/t Au and at the Cartwright deposit with 83 000T @ 10.4 g/t Au.

The management of Amex is very pleased with the identification and understanding of this new high-grade gold-bearing structure at Cameron and is actually preparing an additional work program to better evaluate its full potential. The timing and the emplacement of this next phase of work will be announced as soon as it will be approved by Amex management.

Amex Exploration Inc also announces the resignation of Mr. André Gagné from its Board of Directors. The company would like to thank André for his dedicated service to Amex and wish him every success in his future projects.

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

  • Amex Exploration Inc.
    Jacques Trottier, PhD
    President and Chief Executive Officer
    (514) 866-8209