Amex Exploration Inc.: Gold-Rich Polymetallic Massive Sulfide Drill Intersection Returned 3.84 g/t Au Over 15.2 Meters at Per...
05 March 2013 - 1:10AM
Marketwired Canada
AMEX EXPLORATION INC (TSX VENTURE:AMX) ("The Company") is very pleased to
announced the intersection by drilling of 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, on its 100% owned Perron Gold project
located near Normetal, Abitibi, Quebec.
The first zone intersected in Hole PE-2013-03 at a vertical depth of about 350
meter, returned an overall grade of 2,19 g/t Au over a core length of 41.4
meters, including a higher grade sub section of 3.84 g/t Au over 15.2 meters,
including 19.07 g/t Au over 2.0 meters (see Table 1). A second zone 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 intersects.
Table 1. Drilling Intercepts
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Perron Gold Project
2013 Drilling Intercepts (Partial Results)
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Width
Hole_No From To (m) Au g/t Ag g/t Zn % Cu % Pb %
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PE-13-01 PR PR PR PR
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PE-13-02 PR PR PR PR
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PE-13-03 375.8 417.2 41.4 2.19 PR PR PR PR
----------------------------------------------------------------------------
incl 388.0 391.0 3.0 3.96 PR PR PR PR
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402.0 417.2 15.2 3.84 PR PR PR PR
----------------------------------------------------------------------------
incl 410.5 412.5 2.0 19.07 PR PR PR PR
----------------------------------------------------------------------------
450.1 475.4 25.3 PR(i) PR PR PR PR
----------------------------------------------------------------------------
PE-13-04 PR PR PR PR
----------------------------------------------------------------------------
Legend: PR = Pending results; PR(i) = Partial results. 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
will be provided by Actlabs in Ancaster. The logging and sampling is
realised by Marco Rioja Geol.
It is utmost important to notice that these wide gold intersects are directly
associated with well mineralized sulphide zones composed basically of sphalerite
(Zinc-rich sulphide mineral) and chalcopyrite (Cu rich sulphide mineral),
associated with minor pyrrothite and pyrite (both Fe rich sulphide minerals).
Therefore, it is expected that silver and base metal content, that are to be
received by the laboratory in about two weeks from now, are to be quite
significant.
Hole PE-2013-03 is the third hole out of 4 (Holes PE-2013-01, 02 and 04 are
presently at the lab and no results yet have been received) of a 2000 meter
drilling campaign (see PR of January 17th 2013) that has as main objective to
try to follow-up and extend a significant gold bearing polymetallic zone
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), later described as a 'deformed volcanogenic precious metal bearing
massive sulfide mineralization' (M.Sc Thesis by A. Laberge, UQAM, 2002) and, in
2011, of Hole PE-2011-4 that returned gold values of 0.41 g/t over 112.5 meters,
including multiple higher gold grade sub-zones of up to 5.9 meters grading 2.4
g/t Au, including 2.5 meters at 4.54 g/t Au. (See PR of April, 12, 2012). Also
important to note that centimetre size Mn-garnets are widely spread and
associated with this mineralization in all of the three holes that, according to
A. Laberge (UQAM thesis 2002), are characteristic of major volcanogenic
gold-rich polymetallic mines of the Abitibi such as Doyon, Bousquet, Dumagami
and Laronde.
The actual geometric interpretation that leads 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 excited and proud about these impressive drill results that are now just
confirming the real potential of this promising new gold-rich polymetallic
mineralization at Perron. With three drill holes from 3 different drill campaign
executed in 1999, 2011 and now 2013, we have now been able to track down and
follow by drilling what we are interpreting as a typical altered and mineralized
feeder zone of a yet still to discover Gold-rich world class VMS deposit.
Moreover, we are now identifying some vectors based on various criteria that
will guide us to plan the next phase of drilling that will have as objective to
encounter a potential VMS body".
The Perron gold project is located near the village of Normetal in the Abitibi
region of Quebec. It consists of 108 adjacent claims for a total area of 4260
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
trending Normetal 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 Zn Normetmar deposit.
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.
Forward-looking statements:
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jacques Trottier, PhD
President and Chief Executive Officer
(514) 866-8209
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