Amseco Exploration Ltd.

Amseco Exploration Ltd.

January 27, 2012 08:30 ET

Amseco Exploration Ltd.: Announcement

MONTREAL, QUEBEC--(Marketwire - Jan. 27, 2012) - Amseco Exploration Ltd ("Amseco") (TSX VENTURE:AEL) is pleased to announce the beginning of a campaign of more than 4,000 meters of core drilling NQ on various target areas of their Lake Rouleau property. This property, located in the Barry-Urban region, province of Quebec, is co-owned by Beaufield Resources Inc. ("Beaufield"). According to a contractual agreement between Beaufield and Amseco, this drilling program must be completed before the end of April 2012.

Nine significant gold occurrences as well as a copper, zinc and silver anomalous zone were previously discovered in an area of a 5 km length and 2 km width. These occurrences are located in an environment of felsic volcanic rocks alternating with basaltic flows, diorite intrusions and a few thin levels of sedimentary rocks. The host rocks are altered to various degrees, from medium to high, with the presence of carbonate, silica and pyrite, and are bisected by several shear zones as well as three long regional faults.

Zone 14, discovered by Kerr Addison in 1987, is one of the nine gold occurrences. Five boreholes were drilled across a steeply inclined, 20 to 50 m wide diorite sill, along a horizontal length of 200 m and down to a vertical depth of 160 m. Gold values were intersected in three of the five holes that cut through the diorite. The gold is associated with a network of quartz - carbonate - tourmaline - pyrite veins cutting through the sheared and strongly altered diorite. The most significant gold values were found in the two deepest holes: KUB 88-14 (1 670 ppb Au / 4.08 m at -160 m) and KUB 88-16 (3 531 ppb Au / 1.55 m at -135 m).

Zone 14 was only partially drilled by Kerr. The magnetic and induced polarization surveys conducted by Amseco in 2011 and 2012, infer that the diorite goes east for several hundred meters under Rouleau Lake and west under a clay cover.

Amseco's drilling program currently underway is focused on 1) lateral and depth extension of Zone 14, 2) geophysical targets recently. The Zone 14 is one of the nine gold deposits discovered in 1987 by Kerr Addison. Five core holes were drilled through a sharply sloping diorite vein of between 20 m to 50 m thick, on a horizontal line of 200 m at a depth of 160 m. indicated and 3) stratigraphic sequence going through Rouleau Lake.

This press release has been prepared by, Jean-Pierre Cloutier, P. Geo. He is a Qualified Person under National Instrument NI-43-101. He is a Director of Amseco Exploration and currently leads the company´s exploration efforts in the Barry-Urban area.

Forward Looking Statements

This news release may contain certain forward looking statements within the meaning of the Canadian securities legislation. These forward looking statements relate to the company´s future exploration plans, activities and expenditures with regards to the property. The forward looking statements within this news release represent the company´s management best knowledge and judgment based on the current facts available at the time of this news release. Forward looking statements involve a certain amount of known and unknown risks and factors which may cause the actual results and achievements of the company to be materially different from the company´s expectations, objectives and projections.

We seek safe harbor

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