Amex Exploration Inc.

Amex Exploration Inc.

March 02, 2018 08:07 ET

Amex Identifies New Gold Structure at Perron - The Eastern Gold Zone

MONTREAL, QUEBEC--(Marketwired - March 2, 2018) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is very pleased to report a new gold-bearing structure based on recent drilling at Perron. This new gold structure has been determined with the assistance of Stephane Faure PhD, geol, working for the independent consulting firm Innovexplo, after new 3D modelling of mineralized sections from recently announced results from Amex' ongoing 2018 winter drilling campaign (see PR2018-01-15 and Table 1) and a compilation of historical drilling data (see Table 2) from an area located in the eastern part of the Perron property (see map of fig 1).

Figure 1 Perron 2017/2018 Exploration Drilling Program:

Hole From To Length (m) Au (g/t)
PE-2017-01A 201.0 240.0 39.0 1.40
PE-2017-01A incl 214.5 225.0 10.5 2.63
PE-2017-01A incl 214.5 216.0 1.5 6.66
PE-2017-01A incl* 223.5 225 1.5 9.55*
PE-2017-01A incl 234 240 6.0 2.43
PE-2017-01A incl 238.5 240.0 1.5 5.12
Hole From To Length (m) Au (g/t)
PE2017-03 310.5 318.0 7.5 7.89
PE2017-03 incl 311.9 316.56 4.66 12.22
PE2017-03 incl * 311.9 312.47 0.57 16.70*
PE2017-03 incl * 315.56 316.56 1.0 47.20*
PE2017-03 406.5 483.0 76.5 0.81
PE2017-03 incl 406.5 423.0 16.5 1.20
PE2017-03 incl 406.5 408.0 1.5 5.10
PE2017-03 incl 447.0 451.5 4.5 3.91
PE2017-03 incl 448.5 450.0 1.5 9.67
PE2017-03 498.0 510.0 12.0 0.56
PE2017-03 incl 502.5 505.5 3.0 1.01


Geochemical analysis was executed by ALS Minerals in Val D'Or.

* Coarse grain of gold.

Note that these are intervals intersected along the hole and the true thickness is undetermined.

This new gold structure is characterized by a broad zone of low grade gold-bearing highly altered rhyolite (sericitized, silicified and pyritized), typically grading between 0.5 to over 1.0 g/t Au over a width between 20 to about 40 meters thick (see plan and section views; figs 2 and 3). This new zone now referred to as the Eastern Gold Zone is interpreted to be oriented more or less East-West with a steep dip of about 80 degrees to the north that can be followed over a strike length of at least 200 meters and has been intersected from surface (in hole PE-1997-35) to a vertical depth of around 450 meters (hole PE-2018-03). Within this wide low grade envelope, there are some higher grade sub-sections of more than 9.0 g/t Au over width of 1.5 meters and better (for example hole PE-2018-01A: 1.40 g/t Au over 39 meters including 9.55 g/t Au over 1.5 m and hole PE-2018-03: 0.81 g/t Au over 76.5 meters including 9.67 g/t Au over 1.5 m. (see Table 1).

Figure 2 - Perron Eastern Gold Zone - Surface Plan:

Figure 3 - Perron Eastern Gold Zone - Section:

Two of the 2017-2018 holes (i.e. PE-2017-01A and PE-2017-03) were planned with the objective of testing the lateral extension of the mineralized gold intersect of hole PE-2013-04 drilled in a previous 2013 campaign that returned values of up to 12.93 g/t Au over 0.3 meters. Amex has also received results from its re-sampling of some sections that were not previously available to complete the average content of the mineralized zone of hole PE-2013-04 (see Table 2), which resulted in a much larger mineralized corridor that is coincident with the Eastern Gold Zone.

Hole From To Length (m) Au (g/t)
PE-2013-04 200.7 219.4 18.7 0.53
PE-2013-04 incl 206.3 214.7 8.4 1.04
PE-2013-04 incl 207.7 211.2 3.5 1.71
PE-2013-04 incl * 210.9 211.2 0.3 12.93*
Hole From To Length (m) Au (g/t)
PE-1997-35 20.0 59.1 39.1 0.43
PE-1997-35 incl 52.0 54.3 2.3 1.28
PE-1997-35 incl 55.8 59.1 3.4 1.14
PE-2013-04 incl 56.8 59.1 1.3 2.41


Geochemical analysis was executed by ALS Mineral in Val D'Or.

* Coarse grain of gold.

Interval intersected along the hole, undetermined true thickness.

Hole PE-2013-04 was re-sampled in 2017, with historic results.

Jacques Trottier, PhD, Executive Chairman of Amex said, "Even though we are just beginning to test this new gold target, the results from the two 2018 holes combined with the historical results, showing similar mineralization and host rock, leads to the interpretation that this constitutes a completely new gold zone located in the Eastern part of the Perron property that can now be followed over a significant strike length of at least 200 meters and to a minimum vertical depth of 450 meters that is still open in all directions. From now on, this new gold mineralization will be referred to as the 'Eastern Gold Zone'. Our next step is to test its lateral and depth extensions in a future follow-up drill campaign that is still to be determined. I am very pleased with these first impressive results in this new promising zone that was not the main target area of our current drilling campaign. Drilling is underway on other targets on the same property and I am looking forward to see the results that should be available in the next coming days or weeks."


Drilling is still underway with hole PE-2018-13 that we expect to finalise by early next week; this hole will be ending this winter drilling campaign. Up to now we have drilled 4069 meters and will with the final hole, have drilled a total of 4544 meters.

The 2017-2018 program was planned for 4360 meters with 14 targets, we have added one target and reported drilling on target I and K (refer to PR2017-10-24). As of today a total of more than 800 samples are in processing at ALS Minerals in Val d'Or. Results will be communicated when available.

Kelly Malcolm, P.Geo., a Qualified Person as defined by Canadian NI 43-101, revised and approved the geological information of the current drilling reported in this news release. The drilling campaign and the quality control program has been planned and supervised by Nabil Tarbouche and Amex's management. The QAQC protocol includes insertion of blanks, standards or duplicates every 10 samples on average. The gold values are determined by Fire Assay (AU-ICP-21) at ALS Minerals, Val d'Or. All samples were submitted to ALS Minerals for gold, base metals and major and trace element geochemistry. Core Logging and sampling was completed by Lisa Côté, Trainee Geologist of Explo-Logik under supervision of Nabil Tarbouche.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Lebel-sur-Quévillon project in Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, 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
    Victor Cantore
    President and Chief Executive Officer