Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is very
pleased to announce that a new gold-bearing horizon has been identified
following a first phase of drilling on Amex's Perron property executed under the
option agreement with Agnico Eagle Mines Ltd ("AEM"; see press release of June
21st, 2013 for details on the option agreement terms and conditions).
This horizon, that has been intersected and recognized in 9 drill holes up to
now, has an average width of about 15 to 20 meters (up to 80 meters) with gold
values that range from 0.20 to 0.90 g/t (see table 1). The best result is from
hole 163-13-002, with an intercept of 22,5 meters at 0,93 g/t Au including 1,5
meters at 7,58 g/t Au. Geologically, this horizon is typically composed of high
sericite and silica bearing rhyolitic volcanics associated with pyrite and,
occasionally, with visible gold (VG). This stratigraphic horizon has been
followed over a minimum strike length of 400 meters and to a depth of 400 meters
below surface and it is open in all directions.
Table 1: New identified gold-bearing horizon drill intersects.
-- PE-2013-02 : about 0.5 g/t Au over 15 m
-- PE-2013-01 : about 0.4 g/t Au over 20 m
-- 163-13-003A : about 0.5 g/t Au over 15 m
-- PE-2011-04 : about 0.9 g/t Au over 7.7 m
-- PE-2000-65b-ext : about 0.2 g/t Au over 10.5 m
-- 163-13-001 : about 0.2 g/t Au over 20 m
-- 163-13-002 : about 0.9 g/t Au over 22.5 m
-- PE-1999-51p : about 0.2 g/t Au over 86.8 m
-- PE-2000-63 : about 0.3 g/t Au over 14.9 m
Note: gold values per intersect are an approximation based on partial
results from 2013 drilling and should be taken as a general reference.
This new horizon is located at the top of a rhyolitic unit (Rhyolite 6a), just
under another rhyolitic unit that is lithogeochemically quite different
(Rhyolite 7) within the Beaupre bloc (as recently identified by Barret et al.,
2013, "Report on the Burntbush-Normetal Volcanic Belt, ONT-QC", OGS, MR-Data
299). This anomalous gold-bearing stratigraphic interval could correspond to an
accumulation zone for fertile hydrothermal fluids located on top of Rhyolite 6a
and trapped under the Rhyolite 7 that could have potentially acted as a 'cap
rock'. Taking into account the extensive lateral extension of this anomalous
gold-bearing horizon located at the upper part of t Rhyolite 6a, it should be
considered as an exploration target for the next phase of work, considering also
that a recent isotopic study on Rhyolite 6a is suggesting a similar age to the
footwall unit of the nearby Normetal Mine (approx. 2725 Ma; Barrett et al.,
2013).
Table 2 : Results from AEM 2013 drilling.
----------------------------------------------------------------------------
Length
Hole From to (m) Au (ppm) Ag (ppm) Cu (ppm) Zn (ppm)
----------------------------------------------------------------------------
163-13-001 485,5 492,9 7,4 0,31 0,10 12 21
----------------------------------------------------------------------------
497,0 507,0 10,0 0,26 0,10 3 16
----------------------------------------------------------------------------
567,0 568,0 1,0 2,27 1,50 44 354
----------------------------------------------------------------------------
715,5 724,5 9,0 0,75 0,25 13 40
----------------------------------------------------------------------------
incl. 715,5 717,0 1,5 2,85 0,20 4 31
----------------------------------------------------------------------------
751,5 753,0 1,5 5,32 0,90 33 231
----------------------------------------------------------------------------
793,5 795,0 1,5 1,31 0,60 7 16
----------------------------------------------------------------------------
799,5 808,5 9,0 0,17 0,52 7 118
----------------------------------------------------------------------------
163-13-002 258,0 280,5 22,5 0,93 0,10 3 47
----------------------------------------------------------------------------
incl. 262,5 264,0 1,5 7,58 0,10 3 81
----------------------------------------------------------------------------
and incl. 279,0 280,5 1,5 1,10 0,10 2 88
----------------------------------------------------------------------------
295,5 297,0 1,5 1,76 0,70 3 55
----------------------------------------------------------------------------
459,0 469,5 10,5 0,22 0,73 39 350
----------------------------------------------------------------------------
475,8 486,5 10,7 0,20 0,35 25 468
----------------------------------------------------------------------------
163-13-003A 290,5 292,0 1,5 1,08 0,10 4 28
----------------------------------------------------------------------------
317,5 326,5 9,0 1,80 0,12 17 149
----------------------------------------------------------------------------
incl. 319,8 321,1 1,3 10,80 0,10 16 788
----------------------------------------------------------------------------
571,3 579,0 7,7 0,41 0,19 20 45
----------------------------------------------------------------------------
incl. 576,5 577,5 1,0 1,98 0,30 51 35
----------------------------------------------------------------------------
632,5 633,5 1,0 2,66 1,10 22 58
----------------------------------------------------------------------------
PE-2000-65b-ext 466,5 472,5 6,0 0,44 0,22 34 108
----------------------------------------------------------------------------
478,5 480,0 1,5 1,33 0,10 70 36
----------------------------------------------------------------------------
505,5 507,0 1,5 8,80 1,70 225 1 055
----------------------------------------------------------------------------
586,5 588,0 1,5 2,39 0,90 14 514
----------------------------------------------------------------------------
Note: 5 drill holes totalling 2735 meters have been drilled by AEM in late
2013. Hole 163-13-003 was stopped early due to deviation and was 'redrilled'
at the same location with hole 163-13-003A. Hole PE-2000-65b-ext is a hole
that was previously drilled by Amex and deepened by AEM. Geochemical
analysis was executed by ALS Chemex Laboratories in Val d'Or under AEM QA/QC
program and supervision.
In addition to this major highlight from this drilling campaign, it is also now
interpreted that the high grade polymetallic gold-rich sulphide mineralization
intersected by Amex in its discovery hole PE-2013-03 (see press release of March
4th 2013) is potentially located in close relationship with a synvolcanic fault
that could be genetically related to the encountered alteration and
mineralization. The identification of such an environment for hole PE-2013-03 is
coherent with a typical VMS (volcanogenic massive sulphide ) deposit of the DBL
(Dumagami-LaRonde-Bousquet) gold-rich deposits type of the Quebec Abitibi
greenstone Belt.
Jacques Trottier, PhD, President and CEO of Amex Exploration comments, "We are
very pleased with Agnico Eagle's work done so far on our Perron Property. From
their work and expertise, various gold target types have been identified and
should be further tested in a follow-up exploration program still to be
confirmed and announced. We look forward seeing Agnico Eagle to resume
exploration work as soon as possible in 2014."
Table 3: Amex 2013 drilling results completed with additional and re-sampling
done by AEM.
----------------------------------------------------------------------------
Length
Hole From To (m) Au (ppm) Ag (ppm) Cu (ppm) Zn (ppm)
----------------------------------------------------------------------------
PE-2013-01 70,6 72,0 1,4 4,98 - - -
----------------------------------------------------------------------------
81,0 85,5 4,5 0,27 0,07 2 99
----------------------------------------------------------------------------
139,5 141,0 1,5 2,56 0,10 2 252
----------------------------------------------------------------------------
151,1 160,1 9,0 4,99 0,04 2 15
----------------------------------------------------------------------------
incl. 156,1 156,6 0,5 81,84 - - -
----------------------------------------------------------------------------
and incl. 156,6 157,3 0,7 4,74 - - -
----------------------------------------------------------------------------
181,5 201,2 19,7 0,41 0,06 2 27
----------------------------------------------------------------------------
400,9 401,2 0,3 0,04 1,70 89 33 400
----------------------------------------------------------------------------
405,5 405,8 0,4 0,18 6,70 412 100 500
----------------------------------------------------------------------------
407,2 408,2 1,0 1,13 - - -
----------------------------------------------------------------------------
467,6 475,5 7,9 0,26 0,12 9 46
----------------------------------------------------------------------------
incl. 469,2 470,2 1,0 1,25 0,40 37 51
----------------------------------------------------------------------------
481,3 481,8 0,5 1,98 - - -
----------------------------------------------------------------------------
PE-2013-02 15,0 40,2 25,2 0,26 0,08 2 19
----------------------------------------------------------------------------
incl. 34,6 40,2 5,6 0,68 0,21 4 41
----------------------------------------------------------------------------
40,5 47,9 7,4 0,45 - - -
----------------------------------------------------------------------------
PE-2013-03 197,1 198,6 1,5 5,14 - - -
----------------------------------------------------------------------------
362,7 363,0 0,3 12,70 - - -
----------------------------------------------------------------------------
363,2 363,8 0,6 1,93 - - -
----------------------------------------------------------------------------
375,8 417,2 41,4 2,19 11,51 742 8 516
----------------------------------------------------------------------------
incl. 375,8 376,3 0,5 5,80 17,50 987 44 000
----------------------------------------------------------------------------
and incl. 381,0 381,5 0,5 6,89 6,50 558 9 500
----------------------------------------------------------------------------
and incl. 388,0 391,0 3,0 3,96 8,22 1 030 3 384
----------------------------------------------------------------------------
and incl. 402,0 417,2 15,2 3,84 22,81 1 039 14 187
----------------------------------------------------------------------------
and incl. 410,5 412,5 2,0 19,07 101,82 3 765 50 250
----------------------------------------------------------------------------
450,1 457,6 7,5 1,50 18,35 2 532 1 228
----------------------------------------------------------------------------
465,7 476,2 10,5 1,13 15,20 1 360 17 985
----------------------------------------------------------------------------
PE-2013-04 123,0 124,5 1,5 1,07 0,10 8 16
----------------------------------------------------------------------------
128,2 128,8 0,6 1,37 - - -
----------------------------------------------------------------------------
181,7 182,9 1,2 1,26 0,10 2 26
----------------------------------------------------------------------------
206,3 216,6 10,3 0,84 0,12 7 71
----------------------------------------------------------------------------
incl. 206,3 206,7 0,4 2,53 - - -
----------------------------------------------------------------------------
and incl. 207,7 208,5 0,8 1,49 0,40 10 163
----------------------------------------------------------------------------
and incl. 210,9 211,2 0,3 12,93 - - -
----------------------------------------------------------------------------
and incl. 214,2 214,7 0,5 2,20 - - -
----------------------------------------------------------------------------
232,5 234,0 1,5 1,18 0,20 - 5
----------------------------------------------------------------------------
278,6 280,1 1,5 1,45 0,50 2 156
----------------------------------------------------------------------------
307,5 309,0 1,5 1,82 0,20 5 86
----------------------------------------------------------------------------
324,9 329,7 4,8 0,94 0,21 6 69
----------------------------------------------------------------------------
incl. 328,8 329,7 0,9 3,39 - - -
----------------------------------------------------------------------------
352,0 363,5 11,5 0,50 0,01 1 5
----------------------------------------------------------------------------
incl. 358,5 359,5 1,0 2,51 - - -
----------------------------------------------------------------------------
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, Qualified
Person as defined by Canadian N43-101 has approved the technical information
reported in this news release.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Amex Exploration Inc.
Jacques Trottier
514-866-8209
514-866-8096 (FAX)
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