Amex Drills 30.85 g/t Au over 6.35 m in the High-Grade Zone and Expands Denise at Depth

July 31, 2024 7:00 AM EDT | Source: Amex Exploration Inc.

Montreal, Quebec--(Newsfile Corp. - July 31, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce further drill results from the High-Grade Zone ("High-Grade Zone" or "HGZ") and Denise Zone ("Denise"), on the company's flagship Perron Project in the northwestern Abitibi region of Quebec. Today's results further define the High-Grade Zone and have expanded known mineralization of the Denise Zone at depth. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the geology of the Eastern Gold Zone, Figure 3 for a longitudinal section of the High-Grade Zone, Figure 4 for a longitudinal of the Denise Zone, Figure 5 for images of gold mineralization and Tables 1-3 for assay results and drillhole coordinates. Today's results will not make it into the Company's resource estimate, highlighting the immense growth potential that exists at the Perron project.

Highlights include:

High-Grade Zone

  • PE-21-347W5 returned 6.35 m of 30.85 g/t Au including 0.50 m of 342.10 g/t Au at a vertical depth of ~1100 m
  • PE-21-347W4 returned 7.80 m of 7.36 g/t Au including 0.70 m of 70.32 g/t Au at a vertical depth of ~970 m

Denise Zone

  • PE-20-186W2 returned 2.15 m of 16.58 g/t Au including 0.50 m of 66.35 g/t Au at a vertical depth of ~900 m
  • PE-21-347W5 returned 58.50 m of 0.71 g/t Au including 3.00 m of 8.31 g/t Au at a vertical depth of ~1150 m

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's released drill holes were planned to target the depth extensions of the Denise mineralization on both sides of the central diabase dike. To reach these areas, the holes also traversed the High-Grade Zone, highlighting how proximal the two zones are to each other and providing us with further enhanced information about the HGZ through tighter drill spacing. Importantly, drill hole PE-20-186W2 at Denise West was designed to intercept a predicted mafic-ultramafic intrusion at depth to provide more geological information, but instead intercepted gold mineralization within the rhyolite, meaning the zone has much more room for growth to the west and at depth than originally thought."

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration continued, "Through the new interpretation of the Denise Mafic Intrusion (see Figure 4), the Amex team continues to see growth potential for resources at depth. This also opens up the possibility of reinterpretation of the same mafic intrusion in the High-Grade Zone, meaning a potential of more area for growth of the Western HGZ. We are also excited to target where the mafic intrusion and diabase dike are modelled to meet one another, to see if this could act as a trap for a pocket of very high-grade gold mineralization. We intend to test this target in the coming months along with other very interesting new targets elsewhere on the property."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_002.jpg

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_003.jpg

Figure 2: Geological map of the Eastern Gold Zone, showing each of the significant gold mineralized zones, including the High-Grade Zone and the Denise Zone, and the locations of today's released drill holes. HGZ mineralization is represented by gold bearing quartz-carbonate-sulfide veins with visible gold hosted in the Beaupré aphanitic rhyolite. Denise mineralization is represented by gold bearing quartz-carbonates-sericite-sulfides veins with visible gold hosted in the Beaupré brecciated rhyolite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_004.jpg

Figure 3: Longitudinal section of the High-Grade Zone looking to the south, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of today's released drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_005.jpg

Figure 4: Longitudinal section of the Denise Zone looking to the south, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of today's released drill holes. Note drillhole PE-20-186W2 and the new interpretation of the Denise Mafic Intrusion, giving Western Denise a significantly larger area for growth potential at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_005full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_006.jpg

Figure 5. Photos of visible gold from todays released drill holes, including PE-21-347W4, PE-24-347W5 for the High-Grade Zone and PE-20-186W2 and PE-22-524W5 for the Denise Zone. HGZ mineralization is represented by gold bearing quartz-carbonate-sulfide veins with visible gold hosted in the Beaupré aphanitic rhyolite. Denise mineralization is represented by gold bearing quartz-carbonates-sericite-sulfides veins with visible gold hosted in the Beaupré brecciated rhyolite. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_006full.jpg

Table 1. Assay results from current drilling of the High-Grade Zone and Denise Zone at the Perron Project.

Hole IDFrom (m)To (m)Core length (m)True thickness (m)Au (g/t)Ag (g/t)Metal Factor* (MF)Vertical Depth (m)Zone
PE-20-186W2943.30943.800.500.260.970.300.25~875mWestern
DZ
And949.70950.500.800.410.920.100.38~880m
And969.20971.352.151.1216.581.5718.56~900m
including969.70970.200.500.261.570.400.41
including970.85971.350.500.2666.355.5017.25
PE-20-197W21136.801163.0026.2020.170.980.4719.79~1015mEastern DZ
including1136.801147.5510.758.231.740.8014.36
PE-21-288W2923.30923.800.500.371.683.000.62~815mWestern
DZ
And955.00956.251.250.930.650.100.60~840m
And986.50996.6010.101.140.520.170.59~865m
including986.50988.001.507.682.280.1017.54
including990.50991.501.000.760.610.100.46
including996.00996.600.600.460.640.300.30
PE-21-347W41039.701047.507.804.527.361.5933.28~970mEastern
HGZ
including1039.701040.400.700.4070.3215.8028.13
including1045.701047.501.801.052.260.402.38
And1050.301090.0039.7027.590.471.5313.02~995mEastern
DZ
including1073.001090.0017.0011.930.832.909.93
And1132.101134.001.901.390.800.181.11~1040m
PE-24-347W51156.151162.506.352.5030.852.2677.14~1100mEastern
HGZ
including1157.651158.300.650.2612.652.603.29
including1159.801160.300.500.20342.1020.8068.42
including1160.301161.000.700.2817.680.904.95
And1182.001240.5058.5029.780.710.7121.02~1150mEastern
DZ
including1182.001183.001.000.502.470.101.23
including1197.001197.500.500.252.850.100.71
including1237.501240.503.001.548.3110.3512.80
And1249.001250.001.000.521.720.200.89~1190m
And1267.501270.503.001.561.220.501.90~1210m
And1288.001293.005.002.620.650.911.70~1225m
PE-22-5241451.601455.203.602.433.400.178.27~1325mEastern DZ
including1451.601452.601.000.6710.460.357.01
And1461.501465.003.502.371.590.133.76~1335m
And1479.001484.005.003.420.530.161.80~1350m
And1528.501529.400.900.6332.745.9020.63~1390m

 

*Metal factor is defined as gold grade multiplied by true thickness

Table 2. Assay results from previous drilling in the Denise Zone at the Perron Project.

Hole IDPrevious Press ReleaseFrom (m)To (m)Core length (m)True thickness (m)Au (g/t)Ag (g/t)Metal Factor* (MF)Vertical Depth (m)Zone
PE-20-163W1PR High-Grade Zone
2021-06-28
788.20803.0014.809.200.390.163.58~725mEastern DZ
PE-20-165W1Not previously released816.75848.0531.3019.390.390.557.60~755mEastern DZ
including826.50834.508.004.950.410.862.01
PE-20-185PR High-Grade Zone
2020-08-18
1137.651145.107.454.740.890.154.22~1065mEastern DZ
including1143.501144.100.600.386.210.102.36
PE-20-185W1PR High-Grade Zone
2020-10-07
1092.801109.4016.6010.720.450.154.77~1015mEastern DZ
PE-20-186PR Upper High-Grade Zone
2022-01-10
874.00880.006.003.730.520.381.93~810mWestern DZ
And922.00957.5035.5022.720.520.5311.81~860m
including922.00922.900.900.577.200.704.10
PE-20-187W1PR High-Grade Zone
2020-10-07
1200.001203.253.252.401.130.312.70~1085mEastern DZ
And1221.001237.0016.0012.000.850.1710.15~1110m
including1230.901231.400.500.388.630.403.28
PE-20-190W1PR Upper High-Grade Zone
2022-01-10
1044.001047.953.952.630.600.331.59~965mEastern DZ
And1062.001074.2012.208.210.410.293.40~985m
PE-20-197PR High-Grade Zone
2020-12-03
1150.001155.505.503.710.660.332.43~1045mEastern DZ
And1216.801227.0010.207.250.720.255.25~1100m
PE-20-197W1PR High-Grade Zone
2021-02-17
1106.651184.0077.3562.270.160.209.70~995m to ~1045mEastern DZ
including1106.651108.551.901.480.890.191.32
including1182.501184.001.501.241.480.301.83
PE-20-207Not previously released1081.001111.9030.9019.490.560.6310.86~1015mEastern DZ
PE-20-207W1PR High-Grade Zone
2021-02-17
988.00992.104.102.680.470.271.27~910mEastern DZ
And1046.501071.2524.7516.950.300.285.01~965m
PE-20-210PR 210 Gold Zone + High-Grade Zone
2021-02-17
1378.001385.507.504.890.620.183.05~1280mEastern DZ
And1403.501426.5523.0515.430.300.284.62~1305m
And1450.001460.1510.156.980.380.102.67~1340m
PE-20-210W1PR High-Grade Zone
2021-04-26
1339.501369.5030.0019.600.420.248.31~1250mEastern DZ
including1339.501361.2021.7014.160.500.257.04
And1430.101450.5020.4013.900.370.185.09~1320
PE-20-210W2PR High-Grade Zone
2021-04-26
1334.501356.5022.0014.710.560.248.29~1235mEastern DZ
And1384.501394.7010.207.000.410.292.89~1275m
And1414.901433.0018.1012.530.510.326.38~1300m
PE-20-210W3PR High-Grade Zone
2021-04-26
1311.001314.003.001.910.620.101.18~1205mEastern DZ
PE-20-224Not previously released951.50952.501.000.641.140.300.73~870mEastern DZ
And998.001008.0010.006.500.540.173.51~915m
And1020.001034.4014.409.420.480.304.52~935m
PE-20-224W1PR High-Grade Zone
2021-03-11
979.501019.5540.0526.420.480.2512.71~890m to ~925mEastern DZ
including1002.551019.5517.0011.300.840.299.44
PE-20-224W2PR High-Grade Zone
2021-03-11
965.30991.0025.7017.101.081.1918.47~880mEastern DZ
PE-20-229PR 210 Gold Zone
2022-01-10
1374.001376.002.001.342.920.293.91~1270mEastern DZ
And1459.501464.905.403.745.771.9121.60~1345m
PE-20-229W1Not previously released1325.501344.0018.5012.320.910.2811.19~1225mEastern DZ
And1387.501391.303.802.570.680.471.75~1275m
And1442.001445.603.602.561.490.363.83~1315m
PE-20-229W2PR High-Grade Zone
2021-09-07
1312.001323.0011.007.580.760.295.77~1195mEastern DZ
including1312.001321.059.056.230.860.305.38
PE-20-230PR High-Grade Zone
2021-03-11
779.50801.3021.8013.750.713.669.81~715mEastern DZ
PE-21-163EXTNot previously released831.80862.5030.7018.940.610.3211.50~780mEastern DZ
including858.70862.503.802.363.170.537.48
PE-21-165EXTNot previously released793.00873.0080.0048.320.320.2715.29~770mEastern DZ
including844.65873.0028.3517.490.580.4810.13
PE-21-248W1PR High-Grade Zone
2021-05-26
908.10938.0029.9021.210.910.4719.26~810mEastern DZ
including908.10920.8012.708.961.280.6111.51
PE-21-268W1PR High-Grade Zone
2021-04-26
888.00889.501.501.001.720.101.72~790mEastern DZ
And922.50926.904.402.990.420.191.25~820m
PE-21-268W2PR High-Grade Zone
2021-06-28
912.60917.154.553.372.420.568.15~800mEastern DZ
PE-21-286PR High-Grade Zone
2021-09-07
876.20943.0066.8051.330.120.126.29~760m to ~815mEastern DZ
including876.20900.5024.3018.470.170.113.11
PE-21-287W1PR High-Grade Zone
2021-05-26
1266.001291.5025.5017.600.470.128.21~1130mEastern DZ
PE-21-288PR High-Grade Zone
2022-06-16
1000.001000.500.500.3011.541.603.46~920mEastern DZ
And1055.301057.201.901.162.980.753.46~965m
And1089.001095.756.754.172.350.419.79~1000m
PE-21-294PR High-Grade Zone
2021-09-07
952.25980.6028.3522.260.770.1517.10~845mEastern DZ
PE-21-318W5Not previously released1405.501418.5013.007.661.430.5210.98~1320mEastern DZ
including1409.501411.001.500.882.821.602.48
including1411.001412.501.500.885.251.604.62
including1415.501417.001.500.891.920.101.71
PE-20-434PR High-Grade Zone
2022-02-03
1193.501244.5051.0034.530.390.2913.43~1095m to 1135mEastern DZ
including1193.501211.6018.1012.110.840.4710.15
PE-22-524W2PR High-Grade Zone
2023-01-23
1426.501428.602.101.481.130.181.68~1290mEastern DZ
And1447.501450.503.002.140.560.101.19~1310m
And1464.601473.508.906.380.600.103.80~1325m
PE-22-524W3Not previously released1547.501609.2061.7036.510.310.2211.36~1415m to ~1470mEastern DZ
including1552.501554.001.500.883.220.102.83
including1608.001609.201.200.712.414.281.71
PE-22-524W5PR High-Grade Zone
2023-01-23
1381.501384.503.002.240.990.252.22~1220mEastern DZ
And1405.501422.6017.1012.830.570.207.35~1245m
And1449.001457.708.706.490.500.193.24~1275m
PE-22-524W6PR High-Grade Zone
2023-01-23
1398.701403.254.553.451.460.285.03~1225mEastern DZ
And1419.701420.250.550.421.880.500.79~1240m
And1432.001433.501.501.151.320.601.52~1250m
PE-22-524W7PR High-Grade Zone
2023-01-23
1380.001390.9010.908.450.200.211.71~1225mEastern DZ
And1422.001432.5010.508.330.210.341.78~1255m
PE-22-532W1PR Team Zone
2024-04-24
1717.001781.7064.7039.190.250.119.70~1580 to ~1635mEastern DZ
including1717.001743.0026.0015.650.390.106.07
And1824.601825.100.500.3119.293.405.98~1675m
PE-22-532W3PR High-Grade Zone
2023-01-23
1544.501555.0010.508.490.290.142.45~1370mEastern DZ
including1544.501548.003.502.820.480.101.34
PE-22-544Not previously released1020.001028.008.004.931.130.215.56~940mWestern DZ

 

*Metal factor is defined as gold grade multiplied by true thickness

Table 3. Drill hole coordinates for today's results.

Hole IDAzimuth (°)Dip (°)From (m)To (m)Length (m)Easting (m)Northing (m)Elevation (m)
PE-20-163W1162-723488645166148025431007344
PE-20-165W1168-753468675216148025431009344
PE-20-185155-750115011506147805431158346
PE-20-185W1155-7564211204786147805431158346
PE-20-186167-7309739736146155431022344
PE-20-186W2167-7352010184986146155431022344
PE-20-187W1153-7283713084716148025431247347
PE-20-190W1157-7541311527396147505431105345
PE-20-197163-710125812586148785431225348
PE-20-197W1163-7177712164396148785431225346
PE-20-197W2163-7147711867096148785431225346
PE-20-207164-730113311336148715431110346
PE-20-207W1164-7364210874456148715431110346
PE-20-210152-750150715076148575431283349
PE-20-210W1152-75104014824426148575431283349
PE-20-210W2152-7576814797116148575431283349
PE-20-210W3152-7536913399706148575431283349
PE-20-224167-730106210626148475431099345
PE-20-224W1167-7356310354726148475431099345
PE-20-224W2167-7324610367906148475431099345
PE-20-229145-750150015006149165431284350
PE-20-229W1145-7587614555796149165431284350
PE-20-229W2145-7548313278446149165431284350
PE-20-230163-6909319316147465431009344
PE-21-163EXT162-727458881436148025431007344
PE-21-165EXT168-757498891406148025431009344
PE-21-248W1170-724879584716148475431098345
PE-21-268W1159-703099516426148015431103346
PE-21-268W2159-704479304836148015431103346
PE-21-286160-6809499496148105431137346
PE-21-287W1152-7281013265166148575431259348
PE-21-288163-740111311136147465431103345
PE-21-288W2163-7450110275266147465431103345
PE-21-294157-7109949946148065431137346
PE-21-318W5162-7472514357106148765431227348
PE-21-347W4158-7774711854386148355431119345
PE-21-347W5158-7777413175436148355431119345
PE-21-434165-730129112916148765431228348
PE-22-524143-730164516456148865431358351
PE-22-524W2143-73113115644336148865431358351
PE-22-524W3143-7390016417416148865431358351
PE-22-524W5143-7380214976956148865431358351
PE-22-524W6143-7379014356456148865431358351
PE-22-524W7143-73463146710046148865431358351
PE-22-532W3137-76119916054066149645431427357
PE-22-544144-730104710476145985431064345

 

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an independent "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person"), has 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 Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or standard samples 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.

For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed 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 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.

Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit, as such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as mineral resources.

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the 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.

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218362

info