MONTREAL, March 13, 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”) has successfully intersected additional high grade gold mineralization.

Figure 1
Plan Map of Drilled Hole Locations.


Figure 2
Longitudinal of the High Grade Zone


Drill hole PE-19-31 intersected 89.59 g/t Au over 1.15 m including 156.83 g/t Au over 0.65 m at a shallow vertical depth of only 85 m. Drill hole PE-19-33 intersected 32.11 g/t Au over 7.20 m including 52.19 g/t Au over 0.5 m in the upper vein and 248.05 g/t Au over 0.8 m in the lower vein at a vertical depth of 245 m. The intersected mineralization, which is characteristic of the EGZ High Grade Zone (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.

In addition to these results, the Company wishes to report that it has identified additional visible gold in recently completed drill holes for which assays are pending.

With the high grade results from PE-19-31 and the visual geological indicators from PE-19-32 it appears that the HGZ extends close to surface, and with the results from PE-19-28, PE-19-33, and earlier holes it appears that the HGZ is robust and high-grade laterally and to depth. The zone has now been intersected over a vertical distance of 225 metres with a lateral distance of 25 meters to 50 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone extends to a depth of approximately 280 metres below surface and remains open towards surface, to depth, and along strike.

“These new results further confirm the high-grade nature of the EGZ,” commented Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration. “We continue to expand the dimensions of the zone, especially with the near surface intersections contained in this release. We are very excited about the potential of the system at depth and our next holes are targeting deeper gold mineralization.”

Table 1: Drill results on the EGZ from holes PE-19-28, PE-19-29, PE-19-30, PE-19-31, PE-19-32, and PE-19-33.

HoleFromToLength (m)Au (g/t)Zone
PE-19-28320.5327.056.553.74HGZ
Including320.53221.511.65HGZ
and Including326.55327.050.513.82HGZ
PE-19-29261.75262.650.94.66HGZ
PE-19-3089.290.551.358.61 
and218.8225.656.852.78HGZ
Including223.9224.650.7517.7HGZ
PE-19-31129.91377.114.56HGZ
Including135.851370.65156.83HGZ
PE-19-32115.3115.80.52.52HGZ
PE-19-33290.6297.87.232.11HGZ
Including290.6291.6132.65HGZ
which Includes290.6291.10.552.19HGZ
and Including297297.80.8248.05HGZ

Intervals reported are along the hole; true thickness is not yet determined.
*VG: visible gold identified.

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 76.5 metres, respectively. Follow-up drilling in 2018 in drill hole PE2018-17 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 over 1.7 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 8.5 metres in PE-19-27, 89.59 g/t 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/.

Qualified Person
Maxime Bouchard M.Sc.A, P.Geo and Jérôme Augustin Ph.D., P.Geo, 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 Amex’s management. 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

Two photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/a239925a-e707-4e20-8749-2cdf38a90f6e

http://www.globenewswire.com/NewsRoom/AttachmentNg/b196447f-2bc7-4ed7-a4f1-6df3416d7ef9

 

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