Axe Exploration Inc.
TSX VENTURE : AXQ

Axe Exploration Inc.

September 19, 2017 10:15 ET

Axe Completes Works on the Unique Project and Made a New Gold Discovery

LAVAL, CANADA--(Marketwired - Sept. 19, 2017) - Axe Exploration Inc. (TSX VENTURE:AXQ) (the « Corporation ») announce the discovery of a new showing on the Unique property. The project location is approximately 20 kilometers North-East of the town of Rouyn-Noranda.

A first phase of prospecting was completed on the property with the collection of 85 samples originating from bedrock outcrops and from glacial boulders. The model of exploration set up by Axe is based on the identification of a fractures system developed inside corridors cross cutting the Clericy Pluton. Identified targets correspond at the field level to sectors in depression embedded in the intrusion and limited by steeply dipping fractures.

Showing Unique 1

  • 5 samples from outcrops returned gold values of 5.28g/t, 3.11 g/t, 2.31 g/t, 2.74 g/t and 0.65 g/t. The mineralization takes the form of pyrite concentrations aligned along fractures planes.
  • The host rock is an hematized syenite affected by chlorite and calcite coated fractures. Parallel mineralized fractures are grouped in a shallow dipping swarm.
  • The mineralized site was manually stripped to give a surface of about 1m at the base of a rocky cliff.

Showing Unique 2

  • An isolated angular block of metric size, largely buried returned a value of 0.8 g/t around 1.3km East of the Unique 1 showing. Mineralization characteristics are comparable to the Unique 1 showing with a stockwork of quartz-calcite veinlets cross cutting a hematized and pyritized syenite.
  • It has not yet been possible to find the origin of the block considering the coverage of overburden. A previously unnoticed blasted trench dating several decades was recently identified approximately 25 meters southward from the Unique 2 block.

Gold Potential

The worked sector has never been the object of such an exploration effort as shown by the compilation of the statutory works ( http://sigeom.mines.gouv.qc.ca). Axe started to work on Unique with the perspective to open up a new territory. In the best knowledge of Axe, it is the first time that significant gold-bearing values are obtained in this area.

The Unique property is centered on the syenite intrusion corresponding to the Clericy Pluton. This type of rock is spatially associated with regional tectonic Breaks hosting gold deposits of the Abitibi Greenstone Belt.

The Clericy Pluton stands at a strategic position in the regional faults system with deformation zones and faults connecting this intrusion with the Porcupine - Destor Break. The observation of geological indicators showing the proximity of a gold system combined with gold anomalies obtained from bedrock and glacial boulders confirm the gold potential of the property.

QA/QC

Samples position are recorded with their serial laboratory number using a GARMIN handheld GPS to create a timestamped file ready for assay results importation. Pictures of every sampling sites are taken showing closed sample bags. Samples are prepared according to a standard method by ALS Chemex using a 250 grams split of material pulverized at 85% passing 75 microns. 30 grams sub-samples are processed by fire assay with a spectrometric finish giving an analytical limit of 0.005 g/t.

Anomalous values > 0.05 g/t are systematically re assayed from the crushed material. From a threshold of 0.1 g/t, a second sample is taken on the field.

ABOUT AXE EXPLORATION INC.

  • Unique Project (Abitibi, Rouyn-Noranda): 100%-owned by Axe
  • Commandant Project (Abitibi, Val-d'Or): 100%-owned by Axe
  • Gold Peak Project (Abitibi, Rouyn-Noranda): 100%-owned by Axe
  • Destorbelle Project (Abitibi, Rouyn-Noranda): 50%-owned by Typhoon Exploration Inc. / 50% by Axe

Axe is in excellent financial position and is optimistic to create value in 2017 his shareholders with only 57,357,445 emitted ordinary shares and in circulation.

The technical information which appears in this press release is revised and approved by Martin Demers geo. (OGQ), Technical Adviser of Axe Exploration Inc and Qualified Person as defined by National Instrument 43-101.

Neither the 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.

Maps are available at the following link: http://media3.marketwire.com/docs/1102380A_Maps.pdf

Contact Information