ABOUT LEBEL-SUR-QUÉVILLON PROPERTY
The Lebel-sur-Quévillon gold project consist of 4 properties that are located 26 km North of Lebel-sur-Quévillon in the north-western part of the province of Quebec and 150 kilometers to the North East of Val D’Or. The 100% owned properties consists of 263 claims covering 14,743 hectares.
Geologically, the property is covered by volcano sedimentary rocks of the Abitibi Sub province. The property is strategically located near the intersection of the Cameron and Chieftain regional deformation corridors and Franquet and Wedding faults.
The Lebel-sur-Quévillon project consist of the Cameron property (13 claims over 731 Ha), Madeleine West property (30 claims over 1,682 Ha), Madeleine East property (74 claims over 4,150 Ha) and Pusticamica property (146 claims over 8,180 Ha). In 2017 Osisko Mining staked 4,150 claims covering 216,000 hectares in the Lebel-sur-Quévillon area and has declared the area a new gold mining camp which it believes will host the next generation of Canadian gold mines.
Amex’s Pusticamica property is surrounded by gold discoveries including the Osisko Windfall Gold project (75 km south), the Benoist Gold Property of Cartier Resources (5 km south) and the operating Metanor Bachelor Gold mine (20 km north east). The main road no 113 connecting Lebel-sur-Quévillon to Chibougamau crosses the entire length of the Pusticamica property. Consorem (Mineral Exploration Research Consortium) has identified this area as a regional gold exploration target and more specifically has located two local gold exploration targets within the Pusticamica property limits (see map 2).
The Madeleine West and East properties are located about 15 km north east of the original Amex Cameron Gold property, where Amex recently announced the results of its 2015 drilling campaign which yielded significant gold intersection with values of 1.7 g/t Au over 7.0 m including 11.2 g/t Au over 0.3 m in hole CA2015s08, 2.0 g/t Au over 2.5 m in hole Ca2015s03 and 4.1 g/t Au over 0.3 m in hole Ca2015s06 (see PR2017-05-23). The Madeleine West and East properties cover the deformation zone over a strike length of about 25 km which is part of the Casa Beradi deformation gold structure. This structure host the producing Casa Beradi gold mine owned by Helca Mines.
On the Amex Cameron property the last exploration work performed by SOQUEM in 1998 revealed the presence of a gold-bearing rhyolite in contact with a sheared mafic unit in trench 91-13. Five samples taken in this trench returned gold values ranging from 1 to 7 g/t. The felsic horizon from this trench is believed to have a similar geochemistry as the mineralized felsic horizon at Grevet. Furthermore, 3 Induced Polarisation (IP) anomalies detected during the geophysical survey performed by SOQUEM in 1991 were not drill tested.