Montreal, Canada – October 13 , 2011 – AMEX EXPLORATION INC (AMX: TSX-V, “ The Company”) is pleased to provide an update of the ongoing Diamond drilling campaign and exploration activities on its Nueva Escondida South Property, located in the State of Sonora, Mexico.
The Property, composed of 9 claims covering 6,200 hectares and is located in the foothills of the Sierra Madre Occidental gold belt (“SMO”), was optioned to BOWMORE Exploration ltd (TSXV- BOW) in may of 2010 (see PR of 12-07-10), Amex being the operator. This property has never been drilled before and is not subject to any NSR. A total of 1,561.8 meters along 8 diamond holes were completed between July 24th and September 17th. The campaign was designed to test the anomalous gold-silver and polymetallic zones described in the PR dated May 17th 2011.
Overall, the diamond drill holes have intersected favorable altered limestones and carbonaceous sediments in addition of variable breccias and silicified porphyritic felsic intrusive. The geology, alteration and mineralization remains overall identical to what was previously mapped on surface (see PR-17-05-11). Assay Results received to date are summarized in table 1.
The best results to date are from hole NE2011-04 which intersected three different gold bearing intervals hosted in altered and/or brecciated intrusive and sediments. The most significant intersect is the third gold bearing zone that returned 40.5 meters at 0,51 g/t Au and 3,7 g/t Ag (including 9.5 m. at 1.11 g/t Au and 8.8 g/t Ag) , with a higher grade section of 1.6 meters at 3,08 g/t Au and 28 g/t Ag associated with a jasperoidal interval. Also of interest, the first gold bearing intersect is located at the beginning of the hole into a breccia zone into the intrusive that bears some characteristics of a diatreme breccia that is typical of some large disseminated gold deposit (Table 1 resumes the assay results received an confirmed to date.).
|
La Nueva Escondida Drilling Intercepts |
||||||||
|
Hole_No |
From |
To |
Width (m) |
Au g/t |
Ag g/t |
Cu % |
Pb % |
Zn % |
| NE-11-01 |
12.60 |
17.40 |
4.80 |
0.14 |
74.4 |
0.16 |
0.15 |
0.22 |
|
25.00 |
28.00 |
3.00 |
7.0 |
1.00 |
0.21 |
|||
|
34.00 |
36.45 |
2.45 |
1.8 |
0.08 |
0.26 |
|||
| NE-11-02 |
32.70 |
42.20 |
9.50 |
1.3 |
0.13 |
|||
| NE-11-03 |
87.40 |
99.00 |
11.60 |
|
1.5 |
|
|
0.15 |
| NE-11-04 |
15.00 |
22.50 |
7.50 |
0.10 |
3.4 |
0.17 |
||
|
incl: |
19.30 |
22.50 |
3.20 |
0.15 |
4.5 |
|
|
0.30 |
|
88.50 |
90.00 |
1.50 |
0.47 |
0.5 |
||||
|
105.85 |
124.50 |
18.65 |
0.24 |
1.4 |
|
|
|
|
|
139.50 |
180.00 |
40.50 |
0.51 |
3.7 |
||||
|
incl: |
153.80 |
163.50 |
9.70 |
1.11 |
8.8 |
|||
|
incl: |
153.80 |
155.40 |
1.60 |
3.09 |
28.7 |
|||
| NE-11-05 |
Pending |
|
|
|||||
| NE-11-06 |
Pending |
|||||||
| NE-11-07 |
Pending |
|||||||
| NE-11-08 |
Pending |
|||||||
All samples are prepared and assay by ALS CHEMEX. Also as part of our QAQC program approximately 5% of the samples are inserted blanks, standards & duplicates samples.
Although the final results of the last four holes are still pending, the company is very pleased with these initial results. Jacques Trottier, PhD, president and CEO of Amex Exploration comments, “We are quite enthusiastic with the results so far and to have been able to confirm by drilling the high potential of this project. The fact that, for example, we have intersected three different type of gold and polymetallic mineralizations in one single hole (hole NE-11-04), demonstrates that the hydrothermal system that mineralized the area was most probably multiple and long lasted, evidencing conditions that are needed to create significant deposits. I am very anxious to see the results of the next four holes that have concluded this first phase of drilling”.
Once all the results will be completed, Amex management, along with its partner Bowmore, will elaborate the next phase of work to better follow up theses results.
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
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.