Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

January 20, 2015 09:30 ET

New Phase of 5000 Meters of Drilling at Amex's Perron Property, Abitibi

MONTREAL, QUEBEC--(Marketwired - Jan. 20, 2015) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is very pleased to announce that Agnico Eagle Mines Ltd (TSX:AEM)(NYSE:AEM) has just started its 2015 exploration work program on Amex's Perron property.

This new phase of work consists of about 5000 meters of drilling to be executed with two diamond drill rigs that will be mobilized in the coming days. This new phase of work will test various targets that were outlined by previous phases of drilling and last year's airborne geophysical survey that covered the entire Perron property.

To achieve this, 13 drill holes have been proposed to evaluate different potential mineralized areas, namely, first in the vicinity of Amex initial discovery hole PE-2013-03, second as a follow up of new polymetallic gold-bearing structure in hole #163-14-004 that has been identified in 2014 drilling (see PR of January 8th, 2015), and third on new never drilled airborne geophysical anomalies identified last year and that are located within the Normetal Mine Horizon. This specific geological unit, that can be followed over a strike length of 8 km within the Perron Property, is the host of several polymetallic VMS deposit including former producer Normetal Mine (lifetime production of 10.1 MT @ 2,15% Cu, 5,12% Zn, 0,55 g/t Au and 45.25 g/t Ag) and was never been drilled previously by Amex.

This new phase of drilling, scheduled to start next week and to be completed by the end of March 2015, is under the terms and conditions of the second year of the Perron option agreement with Agnico Eagle that was signed in 2013 (see PR of June 21, 2013 for details on the option agreement terms and conditions).

Jacques Trottier, PhD, President and CEO of Amex Exploration comments, "We are glad with the fact that this new 2015 work program has been started at the very beginning of the year and also very enthusiastic to see that, in addition to follow-up drill holes based on previous drilling results, there will be some drilling done also on new geophysical targets that have never been tested previously as they were identified just last year from a new airborne survey."

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
    514-866-8209