MONTREAL, QUEBEC–(Marketwired – Oct. 24, 2017) – Amex Exploration Inc. (“Amex or the Company”) (TSX VENTURE:AMX) announces that further to the 3D modelling contract for the Perron Gold property that was awarded to InnovExplo (see PR2017-08-08), Amex has identified 14 new drill targets in previously untested sections of the Perron property. From these targets, a 4,360 meter drill program has been prepared and will starts as soon as all permits are in place. (See Figure 1)
The new priority targets were outlined from a combination of multiple data base sources, including drill core, whole rock geochemistry, normative alteration mineral zonation, gold and base metal contents, local VTEM and MAG airborne surveys and down-hole pulse EM geophysics. The data was inputted into a 3D model using Leapfrog application in order to localize potential extensions of previously identified mineralization from prior drilling and to identify new high potential mineralized areas. The new areas have never been drilled and are within a perimeter of at least 100 meters of any past drillings.
From the 3D Model, 4 of the 14 drill targets (Fig 1, B-C-D-E) were identified immediately next to Amex discovery hole PE-2013-03, where values of 3.84 g/t Au + 23 g/t Ag + 1.4% Zn + 0.10% Cu over 15.2 meters (including 19.07 g/t Au + 102 g/t Ag + 5.0% Zn +0.38% Cu over 2.0 meters) were intersected (see PR2013-03-04). These 4 holes will test the extensions of the interpreted intersected mineralization of hole PE-2013-03 as feeders and a potential overlying stratabound VMS (volcanogenic massive sulfides) that could be lying at the Rhyolite-Basalte contact. These targets are of top priority and will be drilled early in the drill campaign depending on field logistics.
Another 5 targets, located at about 1 km to the East of the discovery hole area (Fig 1, F-G-H-L-N), have been identified to evaluate similar potential synvolcanic mineralized feeders and overlying VMS in an interpreted adjacent and parallel basin that is underlying by ultramafic ‘body’ which could have acted as a driving hydrothermal heat source for this type of mineralization.
Located approximately another 1 km to the East, two additional target holes have been planned to better test an isolated airborne VTEM conductor that can be followed over a distance of about 400 meters of strike length following the highly potential Rhyolite-Basalte contact zone, and is limited on both ends by interpreted synvolcanic faults. (Fig 1, I-K)
Finally, three additional drill targets have been selected. One is located at 1.5 km to the North-East of hole PE-2013-03 and will test the northern contact of the ‘Beaupré Rhyolite’ with the Normetal Mine Horizon where previous drilling (Fig 1, J) has encountered high grade gold values up to 11.45 g/t Au over 0.5 meter in hole 163-16-033 (See PR2016-06-29). The two last holes are located at about 1.0 km to the West of hole PE-2013-03, in the immediate vicinity of the Perron Gold Deposit testing some new interpretation of the mineralized system in this area. (Fig 1, A-M)
“The 3D modelling has given us an impressive, detailed model based on well documented data that was compiled from all available geological information recovered from previous work performed on the property. This newly constructed picture provides us with a better understanding of the various geological features that were responsible for the generation of different types of gold and gold-bearing polymetallic mineralization that has been drilled in the past. We have selected our top priority targets and we are very anxious to drill. I am personally convinced that this phase of drilling will be a turning point for the future development of this outstanding and promising property,” said Jacques Trottier, Executive Chairman of Amex.
Stéphane Faure, Geo, PhD of InnovExplo, a Qualified Person as defined by Canadian NI 43-101, approved the geological information reported in this news release
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. 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 4518 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.
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.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/amx1024fig1.pdf.
President and Chief Executive Officer