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Montreal, Quebec--(Newsfile Corp. - April 24, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that after continuing to advance its geological understanding on the Perron Project, further drilling identified similarities between the Team Zone, 210 and E3 gold zones, therefore making it logical to combine the three. The consolidated gold zones will retain the name Team Zone, which creates one larger mineralized corridor straddling the Normétal fault on the northeastern side of the Beaupré Block (See Figure 1). The decision is geologically driven as all three zones display remarkable similarity in their lithologies, structures and mineralization style (Figure 5).

The Company is also pleased to announce further drill results from these zones (See Figure 4 and Tables 1 and 2). With up to 14 known zones across the Perron property, this decision will improve simplicity and will save time in the ongoing modelling process and drill data compilation.

Drill Highlights Include:

210 Gold Zone (which from now will form part of Team Zone)

  • PE-22-586 returned 11.50 m of 4.57 g/t Au, including 3.00 m of 10.72 g/t Au at a vertical depth of ~115 m in the 210 Gold Zone;
  • PE-23-639 returned 19.10 m of 3.23 g/t Au, including 1.40 m of 29.76 g/t Au at a vertical depth of ~190 m in the 210 Gold Zone;

Team Zone

  • PE-23-680 returned 7.30 m of 4.97 g/t Au, including 0.50 m of 54.12 g/t Au at a vertical depth of ~35 m in the Team Gold Zone;
  • PE-23-702 returned 2.10 m of 23.10 g/t Au, including 0.55 m of 83.98 g/t Au at a vertical depth of ~270 m in the Team Gold Zone;

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The combination of these three gold zones is an important milestone on the Perron Project. As we've continued to add more drilling into this area and as our modelling work has advanced, it became clear that the three zone were geologically, structurally and spatially related. The larger consolidated Team Zone now covers a strike length of approximately 1.4 km and remains open to the northwest, southeast and at depth. Amex plans to add significant meterage to the Team Zone as we believe we have only just begun to unlock its value."

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Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the newly consolidated Team Gold Zone.

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Figure 2: Geological map of the Team Gold Zone, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth.

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Figure 3: Image showing the modelled wireframes of the 210 Zone, the Team Zone and the E3 Zone, displaying the similarities of mineralization orientations.

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Figure 4Highlight photos of the Team Zone in drillholes PE-23-639, PE-23-680, PE-23-702 and PE-23-717. Gold mineralization is associated with tension style quartz-sulphide veins and contains visible gold. Abbreviation: VG - Visible Gold.

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Figure 5: Gold bearing quartz-sulfide veins from the 210 Gold Zone, Team Zone and E3 Gold Zone. All gold zones share similar mineralization-style.

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Table 1: Assay results from the Team Zone at Perron.

Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) Vertical depth (m) Metal Factor* (g/t Au *m) Zone
PE-22-524 659.75 661.75 2.00 7.43 0.80 ~625 14.86 210
PE-22-532W1 518.30 523.50 5.20 5.01 0.58 ~490 26.07 210
Including 518.30 519.00 0.70 33.39 3.00 23.37
PE-22-581 198.50 214.00 15.50 1.22 0.49 ~140 18.94 210
Including 212.50 214.00 1.50 7.68 2.70 11.52
PE-22-586 127.50 129.90 2.40 2.14 0.10 ~90 5.13 210
And 158.50 170.00 11.50 4.57 0.64 ~115 52.54
Including 163.00 166.00 3.00 10.72 1.31 32.17
And 308.70 319.00 10.30 2.95 0.30 ~215 30.39
Including 308.70 311.50 2.80 9.42 0.85 26.38
PE-23-639 148.00 167.10 19.10 3.23 0.28 ~190 61.71 210
Including 156.60 158.00 1.40 29.76 1.60 41.66
PE-23-658 66.15 79.80 13.65 2.37 0.85 ~60 32.40 210
Including 73.00 74.00 1.00 5.90 0.60 5.90
Including 75.00 75.75 0.75 6.14 1.10 4.61
Including 79.00 79.80 0.80 7.78 6.30 6.22
PE-23-667 76.50 90.70 14.20 0.60 1.81 ~70 8.48 210
And 102.00 109.50 7.50 5.60 0.31 ~85 41.96
Including 106.50 108.00 1.50 22.39 1.00 33.59
And 161.60 163.50 1.90 2.79 0.32 ~135 5.29
And 287.50 294.00 6.50 5.22 0.11 ~240 33.96
Including 288.00 289.50 1.50 18.31 0.10 27.47
PE-23-676 19.00 25.00 6.00 1.78 0.10 ~15 10.70 210
PE-23-679 97.00 110.50 13.50 0.76 0.23 ~85 10.28 210
Including 98.40 99.15 0.75 8.43 2.20 6.32
PE-23-689 525.70 526.20 0.50 18.67 1.60 ~435 9.34 210
PE-23-690 127.50 141.00 13.50 1.20 0.21 ~115 16.16 210
Including 134.75 135.25 0.50 9.91 0.90 4.96
PE-23-680 45.20 52.50 7.30 4.97 0.73 ~35 36.25 Team Zone
Including 45.20 45.70 0.50 54.12 1.40 27.06
PE-23-683 79.30 83.00 3.70 2.25 0.67 ~65 8.33 Team Zone
And 185.30 186.00 0.70 7.75 0.30 ~160 5.43
And 410.00 411.50 1.50 1.55 0.90 ~350 2.33
PE-23-702 321.50 323.60 2.10 23.10 0.81 ~270 48.50 Team Zone
Including 322.35 322.90 0.55 83.98 2.70 46.19
PE-23-717 163.00 164.00 1.00 3.22 0.30 ~135 3.22 Team Zone
And 478.00 481.00 3.00 6.12 1.80 ~390 18.37
Including 478.00 478.50 0.50 33.36 5.60 16.68
And 574.20 575.25 1.05 28.28 14.53 ~465 29.70

 

*Metal Factor is defined as gold grade multiplied by core length.

Table 2: Drillhole coordinates for today's results.

Hole ID Azimuth (°) Dip (°) From (m) To (m) Length (m) Easting (m) Northing (m) Elevation (m)
PE-22-524 143 -73 0 1645 1645 614886 5431358 349
PE-22-532W1 137 -76 0 1878 1878 614964 5431427 355
PE-22-581 135 -45 0 601 601 614887 5431358 349
PE-22-586 135 -45 0 505 505 614860 5431281 347
PE-23-639 130 -60 0 351 351 614847 5431123 344
PE-23-658 40 -60 0 351 351 614846 5431271 346
PE-23-667 130 -60 0 335 335 614884 5431316 348
PE-23-676 40 -60 0 321 321 614997 5431139 348
PE-23-679 130 -60 0 352 352 614918 5431205 347
PE-23-680 310 -60 0 520 520 615260 5430927 349
PE-23-683 120 -60 0 532 532 615263 5430925 349
PE-23-689 310 -60 0 550 550 615217 5430947 348
PE-23-690 130 -60 0 343 343 614914 5431272 348
PE-23-702 130 -60 0 411 411 615353 5430871 349
PE-23-717 300 -60 0 597 597 615531 5430732 348

 

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. The Qualified Person has not completed sufficient work to verify the historical information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

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.

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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