Montreal, Canada – March 19th, 2013 – AMEX EXPLORATION INC (AMX: TSX-V, “The Company”) is very pleased to confirmed the polymetallic nature of the gold mineralization intersected and published about two weeks ago (see PR of March 4th 2013) from hole PE-13-03 on its 100% owned Perron property located near Normetal, Abitibi, Quebec.
Indeed after having receiving the gold content from Labexpert, the samples from hole PE-13-03 were then sent to Actlab for multiple elements analysis including silver (Ag) and the base metals (ie Zn, Cu and Pb) of which we just received the results. The updated table 1 shows clearly the polymetallic nature of the intersected gold mineralization, but also confirmed the high grade potential of the two wide zones of polymetallic massive sulfides stringers and veins, that is interpreted to represent a typical feeder zone associated with volcanogenic massive sulphide deposit (VMS) that has been later deformed and possibly transposed.
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Legend: PR = Pending results; PR* = Partial results. NS = Not significant. To simplify the table the title of each hole have been shorten. The drilling campaign and the quality control program is defined and supervised by J. Marchand Eng Geol, The QAQC include insertion of blank, standard or duplicate every 20 samples. The gold value is estimated by Fire Assay at Laboratoire Expert Inc. in Rouyn-Noranda. The polymetallic content is provided by Actlabs in Ancaster. The logging and sampling is realised by Marco Rioja Geol.
The first zone (Z-1: Table 1) intersected at a vertical depth of about 350 meter, now returned an overall grade of 2.19 g/t Au meters with 12 g/t Ag, 0.9% Zn and .07 % Cu over a core length of 41.4 m, including a section of 3.84 g/t Au with 23 g/t Ag, 1.4 % Zn and 0.10 % Cu over 15.2 meters with a higher grade intersect of 2.0 meters at 19.07 g/t Au with 102 Ag, 5.0 % Zn, 0.38 % Cu and 0.13 % Pb.
The second zone (Z-2: Table 1) of about 25 meter long, with similar mineralization but visually less mineralized than the first zone, was intersected in the same Hole PE-2013-03 but at a vertical depth of about 400 meters. Results of this second zone are only partial and final results are still pending but already confirmed some gold and silver + base metals intersect.
As a reminder, Hole PE-2013-03 has as main objective to follow-up and extend a significant gold bearing polymetallic mineralization, that bears some characteristics similar to major volcanogenicgold-rich polymetallic mines of the Abitibi such as Doyon, Bousquet, Dumagami and Laronde,intersected in 1999 in Hole PE-99-51(1,69 g/t Au, 14g/t Ag, 0,1% Cu and 0,6% Zn over 21,8m)and, in 2011, of Hole PE-2011-4 (0.41 g/t over 112.5 meters, including multiple higher gold grade sub-zones of up to 2.5 meters at 4.54 g/t Au. (See PR of April, 12, 2012).
Hole PE-13-03 was collared at about 100 meters to the NW of Hole PE-2011-04 and 200 meters to the NE of Hole PE-1999-51 (see PR of January 17th 2013).The actual geometric interpretation that lead the exploration program on the polymetallic intercept is of a feeder pipe and a VMS tail tectonically transposed, resulting in a lenticular zone reaching, for now, 300 m wide and 50 m true thickness. The system is still open at depth and is dipping steeply to the north.
Jacques Trottier, PhD, President and CEO of Amex Exploration comments, “We are very enthusiastic to confirm the polymetallic content that are adding significant values to the already important gold mineralization intersected in hole PE-13-03!!!. These new results are now just confirming the high potential of this gold-rich polymetallic mineralization at Perron. We are just anxious to receive the balance of the analysis and to reinitiate work with a new aggressive exploration program that will consist first of some updated compilation data base, including the results of this phase of drilling, followed by down hole geophysics, as soon as ground condition is adequate, and finally by a new aggressive drilling campaign that we hope to initiate sometime this coming summer”.
The Perron gold project is located at about 5 km NW from the Normetal mine-town in the Abitibi region of Quebec. It is easily accessible by road network and consists of 116 adjacent claims for a total area of 4517 hectares. Geologically, the project is located in the Archean Greenstone Belt of the Superior Lake structural province. The area is crossed by the regional NW-SE trendingNormetal fault. This fault delineates a major structural corridor associated to massive sulphide deposits such as the nearby old polymetallic (Cu-Zn-Au-Ag) Normetal mine and the ZnNormetmar deposit.
A corporate presentation with information on the Perron Gold Project, will be available on our web site, at: www.amexexploration.com
Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.
Jacques Trottier, PhD Geol. and Jacques Marchand Eng Geol., both Qualified Persons as defined by Canadian NI 43-101, have approved the technical information reported in this news release.
For additional information, contact:
Jacques Trottier, PhD
President and Chief Executive Officer
Tel.: (514) 866-8209
Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, 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 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.