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gold related news



MONTREAL, Canada – MAY 21, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce the results from several drill holes targeting the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) in northwestern Quebec as part of its 25,000 metre drilling program focussed on the EGZ and regional exploration. The current results include both deep and shallow drill holes testing the High Grade Zone (“HGZ”) and Low Grade Zone (“LGZ”). A complete list of results is provided in table 1 and displayed in figures 1 and 2.

In the HGZ, drill hole PE-19-45 intercepted 8.50 meters of 30.98 g/t Au including 0.70 meter of 317.53 g/t Au and 0.60 meter of 65.39 g/t Au in the HGZ at a vertical depth of 125 meters. Drill hole PE-19-43 intercepted 9.10 meters of 2.34 g/t Au including 0.80 meter of 23.66 g/t Au at a vertical depth of 350 meters. The mineralization, which is characteristic of the HGZ, consists of two gold-bearing quartz veins located on either side of a narrow weakly mineralized mafic intrusive crosscutting a large unit of silicified rhyolite. These two quartz veins typically contain sphalerite, pyrite, and visible gold as coarse grains, flakes, or specs.

In the LGZ, drill hole PE-19-44 intersected 13.50 meters of 0.68 g/t Au at an approximate vertical depth of 500 meters. Drill hole PE-19-45 intercepted several lenses of mineralization including 14.0 meters of 0.70 g/t Au including 0.50 meter of 14.29 g/t Au, 4.50 meters of 1.67 g/t Au, and 6.00 meters of 2.20 g/t Au at vertical depths ranging between approximately 160 meters and 250 meters. The mineralization, which is characteristic of the LGZ, consists of disseminated and quartz-vein-hosted gold, pyrite, and sphalerite associated with intense sericite alteration of a regionally extensive rhyolite.

Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration commented, “Drilling at the Eastern Gold Zone continues to identify very high-grade gold mineralization. This round of drilling tightens up the lateral and vertical spacing between holes in the HGZ while we continue to explore and define the system. Each data point is an important input for our model and helps better target future drilling. Figure 2 indicates the progress that the Company has made to date in defining the extent and continuity of the system.” Trottier continued, “I am also encouraged by the LGZ results which clearly demonstrate continuity with a good potential to develop significant gold grade over important widths. We will continue to explore the LGZ this year and test our hypothesis that the two Zones (i.e., HGZ and LGZ) could potentially merge at depth.”

Figure 1: Plan Map of Drilling on the Eastern Gold Zone

Table 1: Drill Results on the EGZ from Drill Holes PE-19-43, PE-19-44, and PE-19-45

Hole From To Length (m) Au (g/t) Zone
PE-19-43 397.50 406.60 9.10 2.34* HGZ
Including 397.50 398.30 0.80 23.66* HGZ
Including 406.20 406.60 0.40 5.26 HGZ
PE-19-44 425.50 426.00 0.50 0.50 HGZ
And 431.70 432.40 0.70 2.85 HGZ
And 577.00 590.50 13.50 0.68 LGZ
Including 589.00 590.50 1.50 1.96 LGZ
PE-19-45 196.00 204.50 8.50 30.98* HGZ
Including 196.00 196.50 0.50 2.89 HGZ
Including 203.20 204.50 1.30 201.16* HGZ
Including 203.20 203.90 0.70 317.53* HGZ
Including 203.90 204.50 0.60 65.39* HGZ
And 251.00 276.50 25.50 0.46 LGZ
Including 251.00 265.00 14.00 0.70 LGZ
Including 264.50 265.00 0.50 14.29* LGZ
And 318.50 323.00 4.50 1.67 LGZ
And 360.00 366.00 6.00 2.20 LGZ
Including 360.00 361.50 1.50 5.38 LGZ

Figure 2: Longitudinal Section of the HGZ of the Eastern Gold Zone


Exploration Update

Amex now has two drill rigs actively operating on site at Perron as part of its 25,000 metres drilling campaign. The second drill rig, which was mobilized to Perron on May 6, is currently working to extend several previously completed drillholes in to the LGZ to test its continuity and grade. The drill rig will then assist with definition and exploration drilling of the HGZ in order for the Company to continue to test the EGZ to depth. Once the extensive road network at Perron has dried up following the spring breakup, one drill rig will be moved to the Perron Gold Zone approximately 1.5 km to the west of the EGZ to test several prospective areas of historical drilling as discussed in Amex’ May 2, 2019 press release.

Qualified Person

Maxime Bouchard M.Sc.A., P.Geo. (OGQ 1752), and Jérôme Augustin Ph.D., P.Geo. (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are re-analysed 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 2mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling was completed by Laurentia Exploration (Maxime Bouchard M.Sc.A, P.Geo. Jérôme Augustin Ph.D., P.Geo. and Alizée Lienard M.Sc.A., GIT).

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions on Quebec and Ontario. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4,518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, 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.

For further information please contact:

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

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 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