Amex Hits by Drilling High Grade Gold Zone Returning 7,37 g/t Au Over 1.4 Meters at Cameron, Abitibi
10 April 2014 - 1:02AM
Marketwired
Amex Hits by Drilling High Grade Gold Zone Returning 7,37 g/t Au
Over 1.4 Meters at Cameron, Abitibi
MONTREAL, CANADA--(Marketwired - Apr 9, 2014) - Amex Exploration
Inc. (TSX-VENTURE:AMX) is very pleased to announce that it has just
received the final results of its latest drilling campaign on its
100% owned Cameron gold property confirming the presence of a new
mineralized high grade gold structure with values of up to 7,37 g/t
Au over 1.4 meters located within a broader lower grade zone that
returned an average value of 1,27 g/t Au over 9,5 meters in hole
CA2013s04.
This phase of
drilling, that was initiated in late 2013 (see PR of November 26,
2013) and consisted of 5 drill holes totalling about 1,278 meters,
is in fact a follow-up of Amex drilling done in early 2011 where a
gold-bearing shear zone located in a mylonitized felsic volcanic
unit was intersected. Indeed, hole CA2011s02 returned intersect of
0,93 g/t Au over 9,0 meters including a higher grade sub-intersect
of 4,16 g/t Au over 1,5 meters. This hole was actually located just
behind trench 91-13 done by SOQUEM that was channel sampled by Amex
in late 2010 returning a gold content of 1,17 g/t Au over 2,9
meters (see PR of January 6th, 2011).
Table 1 |
Cameron Gold Project |
2014 Drilling Intercepts |
Hole_No |
From |
To |
Width |
Au g/t |
|
|
|
(m) |
|
CA2013s01 |
- |
- |
- |
NSV |
CA2013s02 |
- |
- |
- |
NSV |
CA2013s03 |
126.60 |
133.30 |
6.70 |
0.38 |
|
incl |
131.50 |
133.30 |
1.80 |
0.96 |
CA2013s04 |
172.60 |
182.10 |
9.50 |
1.27 |
|
incl |
173.80 |
175.20 |
1.40 |
7.37 |
CA2013s05 |
171.20 |
172.50 |
1.30 |
1.17 |
|
Legend: NSV = No significant value |
The drilling
campaign and the quality control program is defined and supervised
by Jacques. Marchand Eng Geol, The QAQC include insertion of blank,
standard or duplicate every 20 samples. The gold value is estimated
by Fire Assay at ALS Mineral in Val d'Or. The logging and sampling
was realised by Matthieu Picarello Geol.
The pattern of this
latest phase of drilling was proposed by independent QP Jacques
Marchand, P. Eng. and was designed to better understand the
orientation and continuity of this new gold bearing structure. Out
of the 5 drill holes, 3 holes (Holes CA2013s03, 04 and 05) have
intersected the structure with significant gold values and
demonstrate that this structure has a width of about 7,5 to 9,5
meters, is oriented ENE-WNW and is recognised over a strike length
of at least 200 meters (see table 1 for all drill results).
This structure
appears from surface to a minimum depth of at least 125 meters and
is open in all directions. The two other holes (located to the West
of Hole CA-11-P2) have missed the structure having their collar
located just to the north of the now know mineralized
structure.
The Cameron property
is located at about 25 kilometres to the NE of Lebel-sur-Quévillon
in the north-western part of Quebec, and consists of 13 claims for
a total area of 731 hectares. Geologically, it is covered by
volcano sedimentary rocks of the Abitibi Sub province which
consists mostly of basaltic to andesitic rocks with five felsic
horizons present in the trench area. The property is strategically
located near the intersection of the Cameron and Chieftain regional
deformation corridors and is cut by the regional NE trending
Franquet and Wedding faults. To the northwest, shear-related gold
mineralization has been discovered along the NW Cameron deformation
corridor at the Flordin deposit with 1997 estimated reserves of 815
500T @ 5.1 g/t Au and at the Cartwright deposit with 83 000T @ 10.4
g/t Au.
The management of
Amex is very pleased with the identification of this new high grade
gold- bearing structure at Cameron and is actually preparing an
additional work program to better evaluate its full potential. The
timing and the emplacement of this next phase of work will be
announced as soon as it will be approved by Amex management.
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
Marchand, P.Eng., who is a 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.
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.
Jacques Trottier, PhDPresident and Chief Executive Officer(514)
866-8209
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