Amex Exploration Inc.

TSX VENTURE : AMX


Amex Exploration Inc.

April 09, 2014 11:02 ET

Amex Hits by Drilling High Grade Gold Zone Returning 7,37 g/t Au Over 1.4 Meters at Cameron, Abitibi

MONTREAL, CANADA--(Marketwired - April 9, 2014) - 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 presence of a new mineralized high grade gold structure with values 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.

This phase of drilling, that was initiated in late 2013 (see PR of November 26, 2013) and consisted of 5 drill holes totalling about 1,278 meters, is in fact a follow-up of Amex drilling done in early 2011 where a gold-bearing shear zone located in a mylonitized felsic volcanic unit was intersected. Indeed, hole CA2011s02 returned intersect of 0,93 g/t Au over 9,0 meters including a higher grade sub-intersect of 4,16 g/t Au over 1,5 meters. This hole was actually located just behind trench 91-13 done by SOQUEM that was channel sampled by Amex in late 2010 returning a gold content of 1,17 g/t Au over 2,9 meters (see PR of January 6th, 2011).

Table 1
Cameron Gold Project
2014 Drilling Intercepts
Hole_No From To Width Au g/t
(m)
CA2013s01 - - - NSV
CA2013s02 - - - NSV
CA2013s03 126.60 133.30 6.70 0.38
incl 131.50 133.30 1.80 0.96
CA2013s04 172.60 182.10 9.50 1.27
incl 173.80 175.20 1.40 7.37
CA2013s05 171.20 172.50 1.30 1.17
Legend: NSV = No significant value

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 in Val d'Or. The logging and sampling was realised by Matthieu Picarello Geol.

The pattern of this latest phase of drilling was proposed by independent QP Jacques Marchand, P. Eng. and was designed to better understand the orientation and continuity of this new gold bearing structure. Out of the 5 drill holes, 3 holes (Holes CA2013s03, 04 and 05) have intersected the structure with significant gold values and demonstrate that this structure has a width of about 7,5 to 9,5 meters, is oriented ENE-WNW and is recognised over a strike length of at least 200 meters (see table 1 for all drill results).

This structure appears from surface to a minimum depth of at least 125 meters and is open in all directions. The two other holes (located to the West of Hole CA-11-P2) have missed the structure having their collar located just to the north of the now know mineralized structure.

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 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. 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