MONTREAL, Canada; June 15th 2010- Amex Exploration Inc. (AMX: TSX-V) is pleased to announce the beginning of a new exploration program starting with a geophysical survey on its 100% owned Cameron property located at 26 kilometres to the North of Lebel-sur-Quévillon in the north-western part of Quebec and consists of 13 claims for a total area of 731 hectares. This survey will be followed by trenches and sampling and finally, upon results obtained by these work, by a first phase of drilling of about 1200 meters, to be started during this summer.
This exploration program is a follow up of previous work done by SOQUEM who has explored the north-eastern half of the Cameron property from 1982 to 2005, who mainly performed an Induced Polarisation (IP) survey, a Magnetic survey, as well as digging four trenches for approximately 400 meters linear where they have outlined a gold bearing mineralized structure with values of up to 7 g/t Au from a grab sample. The south-western half of the property has been little explored.
More specifically, exploration work performed by SOQUEM in 1998 revealed the presence of a gold-bearing rhyolite containing disseminated pyrite in contact with a sheared mafic unit in a trench (trench #91-13). Five out of eight samples, from sampling restricted to felsic rocks, returned gold values ranging from 1 to 7 g/t. Furthermore, three IP anomalies defined during the geophysical survey performed in 1991 were never been tested by drilling. One of these anomalies cuts trench 91-13.
Geologically, the property 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-SE Cameron deformation corridor at the Flordin deposit with reserves of 815 500T @ 5.1 g/t Au, at the Cartwright deposit with 83 000T @ 10.4 g/t Au and at the Lake Cameron Sud deposit with values of 5.1 g/t over 0.8 meter and 1.3 g/t Au over 13 meters (ref Roy et al. ET-97-02,1997,27 p.). Ten kilometres to the East along the Cameron deformation corridor and in a similar geological context, volcanogenic massive sulphide zinc-rich mineralization is found at the Gonzague-Langlois mine and at the Grevet B deposit. The presence of zinc rich volcanogenic massive sulphide mineralization on the property will also be explored.
The geophysical program will consist of performing a 33 kilometres IP survey to cover the section of the property not covered during the 1991 SOQUEM survey. Results from this survey combined with the 1991 survey will be analyzed to define drill targets.
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.
The technical information reported in this news release has been approved by Jacques Trottier, geol., Qualified Person as defined by Canadian NI 43-101
For additional information, contact:
Mr. Jacques Trottier
President and Chief Executive Officer
Tel.: (514) 866-8209
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