MONTREAL, April 30, 2019 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) continues to intersect high grade gold mineralization in additional step out drillholes.
The current results include several high grade intersects, including 42.81 g/t Au over 0.50 m and 32.13 g/t Au over 0.60 m in PE-19-37 and 45.57 g/t Au over 0.50 m in PE-19-42. These holes are some of the deepest that the Company has drilled to date on High Grade Zone (“HGZ”) of the EGZ. The intersected 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. Additional gold-bearing intersections are detailed in Table 1 and shown in Figure 1 and 2.
“Amex continues to intersect excellent gold grades in the Eastern Gold Zone. To date, more than 11 holes have interested the HGZ with values greater than one ounce per tonne of gold, over the entire width of one or both gold-bearing quartz veins, over a vertical depth of 425 metres. Each drill hole targeting the zone has intersected the two veins, which is especially encouraging as we test the system to depth. Further, the system is showing good continuity and very little indication of post-mineralization deformation, which is highly beneficial for exploration targeting and potential future development,” commented Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration.
About the Eastern Gold Zone
The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.50 metres, respectively. Follow-up drilling in 2018 in drill hole PE-18-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 3,000 metres targeting the High Grade Zone was completed, from which assays have returned grades including 393.33 g/t Au over 1.70 metres in PE-19-22, 39.58 g/t Au over 0.75 metres in PE-19-23, 214.71 g/t Au over 0.65 metres in PE-19-24, 56.75 g/t Au over 8.50 metres in PE-19-27, 89.59 g/t Au over 1.15 metres in PE-19-31 and 32.11 g/t Au over 7.20 metres in PE-19-33. Following the completion of the 3,000 metre campaign, the Company has recently begun a 10,000 metre program to begin testing the system to depth. Amex provides all announced drilling data from the EGZ on its website at http://www.amexexploration.com/perron/drill-data-room/.
To view FIGURE 1: Plan Map of Drilled Hole Locations, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/53b9d571-ebce-4da0-ba72-5d05d008d141
Table 1: Drill results on the EGZ from holes PE-19-37, PE-19-38, PE-19-39, PE-19-40, PE-19-41 and PE-19-42
| Hole | From | To | Length (m) | Au (g/t) | Zone |
| PE-19-37 | 329.40 | 335.20 | 5.80 | 7.90* | HGZ |
| including | 329.40 | 331.50 | 2.10 | 20.61* | HGZ |
| Including | 329.40 | 329.90 | 0.50 | 42.81* | HGZ |
| Including | 330.40 | 331.00 | 0.60 | 32.13 | HGZ |
| Including | 334.70 | 335.20 | 0.50 | 5.08* | HGZ |
| PE-19-38 | 315.75 | 316.40 | 0.65 | 1.05 | HGZ |
| PE-19-38 | 323.30 | 324.85 | 1.55 | 0.34 | HGZ |
| PE-19-39 | 187.00 | 187.60 | 0.60 | 5.92* | HGZ |
| PE-19-40 | 145.25 | 148.40 | 3.15 | 3.17* | HGZ |
| including | 145.25 | 145.75 | 0.50 | 3.90* | HGZ |
| including | 146.75 | 147.25 | 0.50 | 8.36* | HGZ |
| including | 146.75 | 148.40 | 1.65 | 4.82* | HGZ |
| including | 147.25 | 147.90 | 0.65 | 2.14* | HGZ |
| including | 147.90 | 148.40 | 0.50 | 4.77 | HGZ |
| PE-19-41 | 420.00 | 426.05 | 6.05 | 2.57 | HGZ |
| including | 420.55 | 421.65 | 1.10 | 6.07 | HGZ |
| including | 425.30 | 426.05 | 0.75 | 7.17 | HGZ |
| PE-19-42 | 375.10 | 382.90 | 7.80 | 3.77 | HGZ |
| including | 382.40 | 382.90 | 0.50 | 45.57* | HGZ |
| Intervals reported are along the hole; true thickness is not yet determined. | |||||
| *VG: visible gold identified | |||||
To view FIGURE 2: Longitudinal of the High Grade Zone, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/4b390f38-882b-4b56-92e3-da1e0554d534
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 includes 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 kilometres 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 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.