Canada

Normetal Property

The Normétal property is located 8 kilometers to the NW of the village of Normetal approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec. The property consists of 155 claims covering an area of 5,931 hectares.

On a regional scale, the property is located in the Archean Greenstone Belt of the Lac Supérieur 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 now closed polymetallic (Cu-Zn-Au-Ag) Normetal mine and the zinc Normetmar deposit.

More than 11MT of ore with a grade of 2.2% Cu, 5.1% Zn, 45 g/t Ag and 0.55 g/t Au were extracted from the Normétal mine from 1937 to 1975.   Chalcopyrite, sphalerite, pyrite and pyrrhotite were the main minerals found in the massive lenses.  The deposit extended over approximately 350 meters laterally, 25 meters in thickness and reached a depth of more than 2,400 meters.

The Normetmar deposit is located less than one kilometer to the West of the Normétal mine.  Historical resources (non 43-101) are evaluated to be of 160,000 tonnes at a grade of 12.6% Zn of which 30,000 tonnes would have been extracted.  Ore minerals are similar to the ones observed at the Normétal mine and extend over 55 meters laterally, 5 meters in thickness and to a depth of 1,270 meters.

The Great Plains showing were located in the eastern part of the property, 3 km SE of the Val St-Gilles village. This showing returned value of 8.0% Cu, 2.7% Zn and 89 g/t Ag over 2.1meters.

The 6 hole drill programs totalling 1,772 meters performed by Amex in 2006 and 2007 was located in the Great Plains showing area. These campaigns were to test the conductor detected East of this showing in both the  geophysical survey performed in 1996 by Noranda as well as in the MégaTEM survey performed in 2003 by Noranda-Falconbridge in this area.    The main conclusions from the Amex drill programs are the following:

  • The 2006 drill holes intersected relatively low-grade mineralized zones within weakly altered intermediate volcanic rocks.
  • The 2007 drill holes intersected  massive sulphide lenses ranging from 0.3 to 1.2 meters in thickness.  The lenses consisted mostly, in decreasing order, of pyrrhotite, pyrite and chalcopyrite with a value of up to 0.7% Cu over 1.2 meter.
  • The 2007 in-hole InfiniTEM surveys indicate that the center of the conductors are slightly off-hole and below the 2007 drill holes.

Based on the 2007 drilling campaign, follow up work will consist of drilling the anomalies obtained during this campaign.


Perron Property

The Perron gold property is located in the western part of the Normetal property, 8 kilometers to the NW of the village of Normetal, and approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec.

The property consists of 108 adjacent claims covering a total area of 4,260 hectares 100%-owned by Amex Exploration.
The property is located in the Archean Greenstone Belt of the Lac Supérieur 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 now closed polymetallic (Cu-Zn-Au-Ag) Normetal mine and the Zn Normetmar deposit and a few gold-bearing vein showings.

From 1994 to 1996, the Perron property was explored for base metals by Falconbridge. From 1996 to 2000, Ressources Minières Coleraine explored the property for gold by drilling nearly 18,000 meters which resulted in the discovery of gold mineralization on Perron in 3 principal parallel Zones ranging from 300 meters to more than 1 kilometer in strike length. These Zones are located near the contact between rhyolite units to the North and altered andesite units to the South.

In March 2008, a six hole drill program totalling 1,638 meters was performed on Zone 3 to follow-up at depth historical gold intersections such as 12.2 g/t Au over 4.0 meters, 8.8 g/t Au over 2.2 meters and 8.9 g/t Au over 1.7 meter, with sometimes spectacular high grade intersects such as 78.1 g/t Au over 1.7 meter. The 2008 drill campaign resulted in important intersections such as 14.8 g/t over 4.1 meters, 5.6 g/t over 3.0 meters, as well as 2.5 g/t over 13.6 meters.

Following these encouraging results, a preliminary resource estimate on Zone 3 was performed to evaluate the economic potential of this Zone. A total of 1.2 million tonnes with a grade of 1.86 g/t Au for a total of 69,907 ounces of gold in the inferred mineral resources category was estimated in May 2009. The resource is calculated over a strike length of 1,070 meters and over a depth interval extending from 40 meters to 200 meters with an average thickness of 4.5 meters.

The Zone 3 consists of a system of quartz veins mineralized in gold, pyrite, with some pyrrhotite and magnetite in an andesitic environment including some iron formations. In the same area, there are several gold mineralized structures that are not included in this resource estimate due to insufficient information.

The near surface Rhyolite gold-bearing Zone is one of them.  This Zone returned in the 2008 drilling campaign a value of 2.4 g/t Au over 9 meters, including 8.4 g/t over 2.0 meters. An historical intersection on this Zone returned 3.0 g/t Au over 16.5 meters. Mineralization is hosted in a silicified, sericitized and brecciated rhyolite containing disseminations and blebs of pyrite and pyrrhotite.

The highlight from the 12 hole drill program totalling 2,861 meters performed from May to September 2009 consists of an intersection at depth in hole PE200917 of a new mineralized structure. This new structure has 10 meters in width and returned a value of up to 11.89 g/t Au over 1.0 meter in the central part.  This Zone contains up to 0.65% Zn and 0.06% Cu and is intensively silicified. This new intersection suggests that the presence of a fifth gold Zone is possible on the property.

Although this phase of drilling did reach the objectives as a whole, the interpretation regarding the continuity and extension of each of the Zones and particularly Zone 3, will require more work and understanding. In this regard, the company is systematically compiling all the drill results in order to establish, if required, a coherent structural model which would be used as an orientation tool in the continuation of drilling. Following this compilation work, Amex intends to pursue with a new aggressive drilling campaign to test the extension of this new Zone together with the other Zones on the property.


Cameron Property

The Cameron gold property is located 26 kilometres to the 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 property consists of 13 claims for a total area of 731 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 last exploration work performed by SOQUEM on this property 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.  One of these anomalies cuts trench 91-13.

Future work will consist of performing an IP survey to cover the property entirely and of mapping and sampling the 4 trenches dug in 1991.  Following this work, a drilling program is planned in order to test the best IP anomalies and trench sample results obtained on the property.