MONTREAL, Canada – JUNE 3, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; OTCQX: AMXEF; 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 meters 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 are provided in table 1 and figures 1 and 2.
In the HGZ, drill hole PE-19-46 intercepted 1.10 meters of 9.36 g/t Au including 0.50 meters of 18.12 g/t Au at a vertical depth of ~210 meters. Drill hole PE-19-47 intercepted 5.90 meters of 32.22 g/t Au including 0.50 meters of 374.06 g/t Au at a vertical depth of ~220 meters. Drill hole PE-19-48 intercepted 10.65 meters of 4.68 g/t including 0.55 meters of 78.28 g/t Au at a vertical depth of ~360 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.
In the LGZ, drill hole PE-19-46 intersected 8.50 meters of 0.55 g/t Au, 8.50 meters of 1.17 g/t Au including 0.50 meters of 14.74 g/t Au, and 6.00 meters of 0.75 g/t Au at approximate vertical depths between ~250 meters and ~390 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, “Our HGZ continues to deliver excellent very high-grade gold results which has become typical for this zone as shown in hole PE-19-47. Of note PE-19-48 included the highest-grade deep intercept that Amex has intercepted to date, while hole PE-19-46 added strike extension. I am very encouraged by the results from the HGZ as we build our knowledge of the geometry and fill in the spacing between holes. The LGZ continues to deliver gold mineralization at depth and I look forward to exploring this zone further especially as we drill deeper to test the vertical extension of both zones and the possibility that they could merge at depth. We are coming into an active season of summer drilling both at the EGZ and on interesting regional targets. We are well financed and are expecting a robust flow of news as we report on our drilling progress.”
Table 1: Drill Results on the EGZ from Drill Holes PE-19-46, PE-19-47, and PE-19-48
|Hole||From||To||Length (m)||Au (g/t)||Zone|
Intervals reported are along the hole; true thickness is not yet determined.
*VG: visible gold identified
Figure 2: Longitudinal Section of the HGZ of the Eastern Gold Zone
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).
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:
President and Chief Executive Officer
Amex Exploration: 514-866-8209
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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 LGZ, 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.