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gold related news

AMEX EXPLORATION GOLD DISCOVERY INVESTOR NEWS

 

Montreal, Quebec--(Newsfile Corp. - January 9, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to provide a review of the discoveries and accomplishments in 2022 and a discussion of exploration plans for 2023. Kelly Malcolm, VP Exploration of Amex, recently caught up with Eric Lemieux, Exploration Mining Analyst of EBL Consultants, to discuss the upcoming exploration plans. See video here: https://www.youtube.com/watch?v=sq2WZdqzZ8M

A Year in Review - 2022 Key Accomplishments

The 2022 year cumulated in international recognition from industry peers with Amex Exploration winning the prestigious Exploration Company of the Year Award at the Mines and Money annual Gala Dinner, London in December. To achieve this recognition, Amex Exploration began the year by completing a $49.6 M flow-through financing using the charity flow through structure, resulting in lesser dilution for shareholders. The money raised is financing an aggressive 2022/2023 exploration program that is building gold ounces on the known gold zones at Perron and focusing on new discoveries. Amex conducted a total of 104,639 metres during 2022, which was one of the largest drilling programs conducted in Canada. Figure 1 displays the overall growing gold footprint at Perron, with all intercepts and identified zones drilled to date displayed in a plan and longitudinal view.

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Figure 1: Plan view (top) and longitudinal view (bottom) of the overall gold system at Perron as at year-end 2022. Shown are individual gold sample intercepts over variable widths. All intercepts below 0.1 g/t Au have been removed, and all remaining intercepts have been capped at a maximum of 20 g/t Au. Note that the longitudinal section covers 500 metres of N-S width, and the plan view projects all drilled intercepts to surface.
 
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2667/150642_c40a95350487da41_002full.jpg

New discoveries at Perron announced in 2022 included:

  • TEAM ZONE (new zone)
    • PE-22-548 returned 10.05 g/t Au over 9.50m
    • PE-22-545 returned 68.66 g/t Au over 1.40m
  • E2 GOLD ZONE (new zone)
    • PEX-20-034 returned 5.58 g/t Au over 13.85 m including 136.02 g/t Au over 0.55 m
    • PEX-21-066 returned 4.54 g/t Au over 8.45 m
  • GOLD-COPPER DONNA ZONE (new zone)
    • PE-21-318W1 returned 1.37 g/t Au and 0.25 % Cu over 56.00 m including 3.59 g/t Au and 0.72 % Cu over 14.70 m
    • PE-21-318 returned 0.79 g/t Au and 0.24 % Cu over 29.15 m
    • PE-21-318W2 returned 0.89 g/t Au and 0.20% Cu over 16.00 m
  • E3 GOLD ZONE (new zone)
    • PEX-20-003 returned 0.75 g/t Au over 33.80 m
  • UPPER HIGH GRADE ZONE (new zone)
    • PE-20-207W1 returned 18.79 g/t Au over 1.05 m
    • PE-20-190 returned 1.01 g/t Au over 17.20 m
    • PE-20-186A returned 4.08 g/t Au over 3.50 m
  • 210 GOLD ZONE (follow-up drilling)
    • PE-20-229 returned 1.12 g/t Au over 19.50 m
    • PE-21-280 returned 2.39 g/t Au over 9.00 m
    • PE-21-301 returned 0.82 g/t Au over 15.00 m
  • ALIZEE GOLD ZONE (follow-up drilling)
    • PEX-21-049 returned 7.62 g/t Au over 2.15 m
  • WESTERN PERRON (regional exploration drilling)
    • PEX-21-054 returned 3.18 g/t Au over 4.50 m
    • PEX-21-065 returned 2.56 g/t Au over 3.30 m
    • PEX-21-011 returned 3.09 g/t Au over 1.70 m

During the year Amex also expanded the Denise Zone by a further 450m to the east for a strike length of at least 1 km. The drill results indicate the potential for higher grade shoots forming within the eastern Denise, similar to what has been defined in the western Denise. Earlier this year, on May 9, 2022, Amex reported Hole PE-22-510 intersecting 30.90 m of 11.57 g/t Au which is one of the best intersections drilled to date in the Denise Zone.

In addition to drilling success, Amex achieved the UL 2723 ECOLOGO® Certification for Mineral Exploration Companies, an important accomplishment in the Company's ESG strategy. Amex also conducted an environmental and social initial scoping study with Groupe BBA Inc. on the Perron project with positive results. This is an important step in project development and future permitting. The Company also expanded the on-site infrastructure with a number of roads that provide year-round access to the eastern portions of the Beaupre block including the Denise extension and the E2 gold zone.

Amex is also pleased to announce that it has completed the first-ever property wide geochemical surveys over the Perron project. Over the summer, a spruce-bark biogeochemical survey was conducted for which results have been received. The Company is intrigued by the preliminary results and has contracted external geochemists of Vision Geochemistry Ltd. to review the data and provide potential exploration targets. Amex also completed a nearly property-wide weak-leach soil survey, for which results are pending. The results of these two surveys will provide the basis for the 2023 summer regional exploration campaign and may provide drilling targets for regional exploration this winter if targets are compelling once interpreted.

A Year of Exploration Success on the Horizon - Winter & Spring 2023 Exploration Plans

"For the coming drilling season, we will be focusing on the eastern portion of the Beaupre Block where we see excellent expansion opportunities," said Kelly Malcolm, VP Exploration at Amex Exploration. "This area is proving to be particularly auriferous as we define the Denise Zone to the east and to the south, better define the new Team Zone as well as work to make new discoveries. We are also excited to test the continuation of the Beaupre rhyolite to the east, where the Perron and Normetal faults meet. This area has not seen any drilling and has significant gold potential."

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Figure 2: Regional exploration plans for winter and spring 2023 on the Perron project. Proposed regional exploration holes are displayed in red, along with the location of all existing drillholes, underlain by property geology.
 
To view an enhanced version of Figure 2, please visit:
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Eastern Gold Zone

High Grade Zone

  • Another 8,500 m of drilling is planned for the High Grade Zone (HGZ) which will focus on definition and expansion down to a depth of ~1,100 m. The HGZ is an important contributor to the global gold endowment for the Perron property. This zone covers approximately 350 m of strike and has been defined to a depth of ~1.35 km.

Denise Zone

  • At Denise Zone, which lies approximately 50 metres to the south of the HGZ, Amex is planning 10,500 metres of drilling aimed at both definition and expansion. Much of the drilling at Denise had been focused on the western portion of the zone. However, to the west of the drilled off portion, a mafic intrusive body is present that seems to have a control on the emplacement of some of the higher grade gold ore shoots that occur within the broader Denise Zone. This winter, Amex will test both the western side of the mafic body for a possible repetition of Denise as well as test the intrusive body itself for gold mineralization. Approximately 4,200 metres of drilling is dedicated to this Western target.
  • In addition to the eastern definition drilling, Amex plans to conduct some deep exploratory drilling down to approximately 1,000 metres vertically. While Denise is currently thought of as an open pit target, underground potential also exists. As the Company continues to model its zones, it has identified the possibility of linking some of the higher-grade mineralization together in panels which may be amenable to underground-type mining methods. This, in conjunction with the HGZ, could prove to be very compelling for potential ounces per vertical metre in the deeper parts of the Eastern Gold Zone. Amex will drill approximately 5,320 metres targeting the deep Denise extensions.

E2 Zone

  • Amex will continue drill testing and expanding upon the E2 Gold Zone; a sub-parallel gold structure in close proximity to the HGZ. The Company plans to test the near-surface, on-strike, and at depth extensions of this system, as well as the area in between the HGZ and E2 zone with approximately 1,400 metres.

Team Zone

  • Amex' newest discovery, the Team Zone, reported initially on September 27, 2022, is a near-surface zone that occurs ~600 m to the northeast of the High Grade Zone and ~300 m northeast of the E2 Gold Zone. To date, Amex has intercepted visible gold mineralization in 18 of 25 holes targeting the Team Zone over an area of approximately 300 m by 150 m from surface to a depth of ~380 m. Several panels of gold mineralization across a significant area of the north-eastern portion of the Beaupre Block have been identified. The Team Zone is delivering both high-grade gold in tension-type veins as well as wider composites of lower-grade mineralization. With the significant amount of visible gold in this zone Amex is dedicating 12,500 m of drilling to further define and expand this exciting target and understand the geometry and size potential of this system.

QF VMS Zone

  • Amex continues to drill-test the QF Zone; a high-grade copper-rich VMS system that occurs to the northwest of the known gold-mineralized zones. Drilling is focused on expanding the known mineralization outside of the projected EM anomalies. The three most recent holes in the zone have intersected massive to semi-massive sulfide mineralization in areas that were not predicted to contain significant mineralization by borehole electromagnetic geophysics. Therefore the Company is re-interpreting its dataset and engaging external consultants to help outline the overall body of mineralization and provide drilling targets. Once the re-interpretation is completed, 1,500 m of additional drilling has been allocated to the exploration of the QF Zone.

Exploration drilling for New Discoveries

  • Eastern Beaupre Wedge
    • The Beaupre block of rhyolite has historically been very underexplored. As the Company has expanded its known mineralized horizons, it has become apparent that the southern Beaupre block is particularly amenable to hosting gold mineralization. With the recent high-grade discoveries on the Eastern portion of Denise, coupled with Amex's structural and 3D modelling, the Company has decided to conduct an aggressive step-out program targeting the Eastern extension of Denise and the overall Eastern Gold Zone. Historical drilling in conjunction with the Company's Denise expansion drilling, as shown in Figures 1 and 2, indicates that the Perron Fault is a highly fertile break. Amex plans to drill-test this structure for approximately 2.5 km beyond the known Denise mineralization. The Company will drill approximately 12,050 metres in this sector over the winter drilling season.
  • Northwestern Gold Corridor
    • Through compilation of historical and regional exploration drilling, in conjunction with the Company's geophysical dataset and geological knowledge, a potential new gold-bearing corridor has been identified, positioned centrally between the Perron and Normetal faults, to the northwest of the Eastern Gold Zone. A number of the regional holes have intercepted anomalous gold mineralization along a northwest trending corridor of approximately 1 km, as shown in Figure 1 and 2, that is associated with a magnetic low horizon. Amex plans to drill approximately 5,250 metres on this target over the winter. Also in the northwestern area, two additional targets will be tested: the possible extension of the Alizee Zone to the north, and several northeast trending lineament. These additional targets will be tested with approximately 1,950 metres of drilling.
  • Regional VMS Drilling
    • The Company has numerous un-tested VTEM anomalies from a 2015 airborne survey completed by a previous optionee. With the recent success of the QF Zone (which is associated with an anomaly identified from this survey), Amex will test four additional VMS targets. These are focused on the southern Perron fault area, where previous drilling has intercepted several minor VMS-type stringers of polymetallic mineralization that is indicative of VMS potential in the area. Quentin Fayard, of Laurentia Exploration, recently gave a presentation at XPLOR 2022 in Montreal on the VMS potential in the area with a particular focus on the southern portion of the project. The presentation can be viewed here: https://xplor.aemq.org/wp-content/uploads/sites/2/2022/11/06-10_10h30_Geoscience_Quentin-Fayard-1.pdf . The Company will test several of these targets with approximately 875 metres of drilling.

Qualified Persons, Quality Assurance & Quality Control

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin.

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 or ALS Canada Ltd. 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

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/150642

Montreal, Quebec--(Newsfile Corp. - January 23, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce updated results on continued expansion and definition drilling of the High Grade Zone ("HGZ") on the Perron project in the Abitibi region of Quebec. Today's results include intercepts from both the eastern and western portions of the system and are focused on defining less understood areas as well as testing the strike and depth extensions of the zone. See Figure 1 for a map of the Eastern Gold Zone area of Perron, Figure 2 for a longitudinal section of the HGZ including the location of today's holes, Table 1 for a list of all results, and Table 2 for location information of the drill holes.

Today's highlight results (in core length) include:

PE-22-535: 75.81 g/t Au over 4.85 m at a vertical depth of ~750 m
          Including: 193.79 g/t Au over 1.00 m
          And including: 235.87 g/t Au over 0.50 m
          And including: 77.12 g/t Au over 0.50 m

PE-22-524W5: 7.40 g/t Au over 14.80 m at a vertical depth of ~1200 m
          Including: 152.22 g/t Au over 0.50 m

PE-22-524W6: 24.34 g/t Au over 3.85 m at a vertical depth of ~1210 m
          Including: 76.38 g/t Au over 1.20 m

PE-22-524W7: 45.66 g/t Au over 1.80 m at a vertical depth of ~1190 m

Jacques Trottier, Executive Chairman of Amex, commented: "Today's results are focused on definition and growth of the High Grade Zone. We continue to intercept fantastic multi-ounce intervals both within the main body that we are working to define as well as at the margins as we work to grow the zone along strike and at depth. In the longitudinal, we can see that the HGZ appears to shift slightly to the East at depth. As is shown on the figures and tables, we have been effectively using both wedges and directional drilling to cost-effectively explore the deeper area of the HGZ. We look forward to continued exploration as we seek to identify the plunge and orientation of the system at depth."

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Figure 1: Geological map of the Eastern Gold Zone area (EGZ), showing the locations of all identified zones
 
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2667/152101_f6b366e0445ed863_002full.jpg
 

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Figure 2: Longitudinal section of the High Grade Zone, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of todays released drill holes
 
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2667/152101_f6b366e0445ed863_003full.jpg
 

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Figure 3: Photos of visible gold from todays released drill holes. VG = Visible Gold, Py = Pyrite, Sp = Sphalerite
 
To view an enhanced version of Figure 3, please visit:
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Table 1: Assay results from the High Grade Zone

Zone Hole ID From
(m)
To
(m)
Core
Length
(m)
True
Thickness
(m)
Au g/t Metal Factor (Au g/t x m)* Vertical
depth
(m)
Eastern HGZ PE-22-535 841.75 846.60 4.85 3.09 75.81 234.26 ~750
Including 841.75 842.75 1.00 0.64 193.79 124.02
Including 843.90 844.40 0.50 0.32 235.87 75.48
Including 846.10 846.60 0.50 0.32 77.12 24.68
PE-22-524W5 1356.80 1371.60 14.80 9.41 7.40 69.61 ~1200
Including 1356.80 1357.30 0.50 0.32 27.55 8.82
Including 1367.25 1367.75 0.50 0.32 152.22 48.71
PE-22-524W6 1364.50 1368.35 3.85 2.44 24.34 59.40 ~1210
Including 1365.40 1366.60 1.20 0.76 76.38 58.05
PE-22-524W7 1324.00 1325.80 1.80 1.20 45.66 54.79 ~1190
PE-22-524W4 1423.60 1427.05 3.45 1.96 14.02 27.48 ~1290
Including 1425.30 1425.80 0.50 0.28 86.73 24.28
PE-21-442W3 652.50 663.50 11.00 5.35 1.63 8.71 ~595
PE-22-532W3 1502.30 1518.00 15.70 11.21 0.74 8.24 ~1350
PE-22-455W4 1243.00 1250.40 7.40 3.63 1.89 6.88 ~1160
Including 1243.00 1243.50 0.50 0.24 11.12 2.67
Including 1248.90 1249.40 0.50 0.25 11.32 2.83
PE-22-524 1429.60 1440.50 10.90 6.24 0.88 5.47 ~1310
Including 1439.10 1440.00 0.90 0.52 7.23 3.76
PE-22-524W2 1409.50 1411.00 1.50 0.90 1.26 1.13 ~1280
Western HGZ PE-22-544W1 880.50 894.00 13.50 7.42 1.64 12.15 ~810
Including 882.30 883.10 0.80 0.44 10.17 4.47
PE-22-544W3 912.20 918.30 6.10 3.22 1.32 4.24 ~850
PE-22-529 668.00 668.50 0.50 0.30 13.87 4.16 ~590
PE-22-544W2 950.70 952.20 1.50 0.66 2.11 1.39 ~890
PE-22-517W1 721.20 724.70 3.50 2.06 0.43 0.89 ~630
Note: True thickness is calculated with zone oriented N265/87.
*Metal factor is defined as gold grade multiplied by true thickness

 

Table 2: HGZ drill hole coordinates

Hole ID Azimuth (°) Dip (°) Start (m) End (m) Length (m) Easting (m) Northing (m) Elevation (m)
PE-22-535 149 -72 0 865 865 614713 5431123 344
PE-21-442W3 199,5 -68 264 673 409 614783 5430922 95
PE-22-524W7 189 -56 462 1467 1004 614952,5 5431244 -93
PE-22-524W4 197 -65 950 1536 585 614949 5431076 -551
PE-22-524W2 194 -60,5 1131 1564 433 614938 5430996 -712
PE-22-524 143 -73 0 1645 1645 614884 5431360 348
PE-22-532W3 197 -62 1198 1605 407 615013 5431074 -780
PE-22-455W4 188 -70 597 1288 691 614889 5431071 -232
PE-22-524W6 183 -69 790 1435 645 614957 5431137 -402
PE-22-524W5 183 -69 802 1497 695 614952 5431244 -93
PE-22-544W2 174,19 -69 398 973 575 614642 5430957 -36
PE-22-544W3 170 -67 630 969 339 614661 5430876 -251
PE-22-544W1 181,4 -66,9 570 933 363 614645 5430893 -195
PE-22-529 163 -66 0 849 849 614549 5431029 344
PE-22-517W1 180 -65 374 738 364 614587 5430895 -1

 

Qualified Persons

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin.

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 or ALS Canada Ltd. 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

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 hosts both disseminated and high-grade vein-hosted 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/152101

Montreal, Quebec--(Newsfile Corp. - February 9, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce new results on the recently discovered Team Zone on the Perron project in the Abitibi region of Quebec. The Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) and ~300 m northeast of the E2 Gold Zone (Figure 1). The Team Zone encompasses an area of approximately 300 m by 250 m (Figure 2) from surface to a depth of ~400 m. The zone is open at depth and along strike and represents the most exciting and substantial new target that was generated from the regional exploration campaign in the past year.

Jacques Trottier, Executive Chairman of Amex, commented, "The Team Zone is shaping up to be a significant component of the overall mineralized system at Perron. It has now delivered gold mineralization in each drill hole, with a mix of both high-grade vein-hosted gold and lower grade stockwork and disseminated mineralization. Today's results, particularly in hole PE-22-580 with high grades up to 72.06 gram of gold over 1.00 metre, confirm the potential at depth in this system, and the balance of the drillholes affirm our earlier expectations of a widespread near surface orebody. In addition to the known mineralization, the Team Zone adds significantly to our regional targeting as it is a different style of mineralization than encountered elsewhere."

Today's highlight results include:

PE-22-568: 4.73 g/t Au over 8.20 m at a vertical depth of ~115 m
              Including: 27.07 g/t Au over 1.00 m

PE-22-570: 2.71 g/t over 10.50 m at a vertical depth of ~100 m
              Including: 38.97 g/t Au over 0.50 m

PE-22-571: 2.69 g/t Au over 5.00 m at a vertical depth of ~50 m

PE-22-580: 9.21 g/t Au over 3.90 m at a vertical depth of ~210 m
              And: 0.84 g/t Au over 14.40 m at a vertical depth of ~240 m
              And: 72.06 g/t Au over 1.00 m at a vertical depth of ~305 m

PE-22-583: 1.04 g/t Au over 26.00 m at a vertical depth of ~394 m

Today's results represent continued testing of the extents, grade, and dimensions of the new Team Zone. Drilling was conducted in several orientations (as shown in Table 2) in order to identify controls on mineralization. The Team Zone is shaping up to be a shallowly eastward-plunging body which begins at surface and is open to depth and to the east. The large overall mineralized trend is driven by several higher-grade areas as can be seen in Figure 2. Further work is required to fully define the higher-grade sub-structures. The Zone is also parallel and adjacent to the E2 Gold Zone to the southwest, and to the 210 & Upper 210 to the northwest. Structural interpretation indicates that the Upper 210 may occur on a similar structure to that of the Team Zone, and further drilling is required to test if they are connected. See Table 1 for a list of the today's drill results, Table 2 for drill hole coordinates, Figure 1 for a map of the Perron project geology showing the location of the Team Zone, Figure 2 for a map showing the distribution of assayed gold identified to date throughout the Team Zone, and Figure 3 for photos of visible gold in several holes in the Team Zone.

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Figure 1. Geological map of the Perron Project, with the location of existing zones and the newly discovered Team Zone.

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Figure 2. Geological compilation map of the Team Zone area. Shown is the outline of the mineralized trend in red, across a widespread area of approximately 300m x 250m.

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Figure 3. Examples of visible gold in three holes of the Team Zone. PE-22-580 showing coarse visible gold within a tension vein within a massive phase of the Beaupre rhyolite. PE-22-568 showing a linear dispersion of visible gold within a quartz-carbonate vein. PE-22-570 showing visible gold grains in a quartz vein associated with pyrite (Py).

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Table 1. Assay results from the Team Zone at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole ID From
(m)
To
(m)
Core Length
(m)
Au g/t Vertical depth (m)
PE-22-554EXT 375.00 376.50 1.50 8.54 ~280 to 325
And 401.50 402.00 0.50 1.93
And 426.50 431.50 5.00 0.59
PE-22-564 162.65 173.00 10.35 0.74 ~120 to 250
Including 162.65 165.00 2.35 2.73
And 199.50 213.50 14.00 0.66
And 335.00 336.50 1.50 3.53
PE-22-566 74.50 75.20 0.70 1.80 ~60 to 285
And 107.00 108.50 1.50 1.13
And 371.20 377.50 6.30 0.96
PE-22-568 152.70 160.90 8.20 4.73 ~115 to 220
Including 156.50 157.50 1.00 27.07
And 242.50 245.00 2.50 0.97
And 295.00 295.50 0.50 1.95
PE-22-570 144.50 155.00 10.50 2.71 ~100 to 140
Including 153.50 154.00 0.50 38.97
And 206.50 207.00 0.50 3.72
PE-22-571 60.00 65.00 5.00 2.69 ~50 to 100
And 121.50 123.50 2.00 1.78
PE-22-579 193.00 194.00 1.00 4.01 ~135
PE-22-580 281.10 285.00 3.90 9.21 ~210 to 305
And 322.70 337.10 14.40 0.84
Including 326.70 330.60 3.90 2.03
And 411.40 412.40 1.00 72.06
Including 411.40 411.90 0.50 141.82
PE-22-583 150.30 152.50 2.20 4.65 ~115 to 395
And 201.65 203.00 1.35 1.66
And 306.00 308.50 2.50 2.35
And 509.70 535.70 26.00 1.04
Including 529.50 535.70 6.20 2.98

 

Table 2. Team Zone drill hole coordinates.

Hole Id Azimuth
(°)
Dip
(°)
Start
(m)
End
(m)
Length
(m)
Easting
(m)
Northing
(m)
Elevation
(m)
PE-22-554EXT 120 -50 330.75 550 219.25 615362 5430924 101
PE-22-564 165 -50 0 358 358 615237 5431037 352
PE-22-566 120 -50 0 385 385 615116 5430895 347
PE-22-568 166 -51 0 349 349 615332 5431034 351
PE-22-570 216 -48 0 405.75 405.75 615385 5431031 355
PE-22-571 178 -51 0 670 670 615299 5430945 343
PE-22-579 128 -45 0 478 478 615109 5430967 347
PE-22-580 347 -52 0 688 688 615357 5430737 344
PE-22-583 347 -51 0 634 634 615422 5430732 345

 

Upcoming Gold Investor Events

Amex will be presenting and available for online meetings at the Clean Tech & Precious Metals Virtual Investor Conference
February 14-16, 2023
https://www.virtualinvestorconferences.com/events/event-details/cleantech-precious-metals-virtual-investor-conference

Amex Exploration will be attending Mines & Money Miami Inaugural Event
February 23-24, 2023
https://minesandmoney.com/americas/index

Amex Exploration will be attending and presenting at the Metals Investor Forum
March 3-4, 2023
https://metalsinvestorforum.com/conferences/metals-investor-forum-toronto-2023/

Amex Exploration will be at PDAC
March 5-8, 2023
https://www.pdac.ca/convention

Amex Exploration to attend Swiss Mining Institute Conference in Zurich
March 21-22, 2023

Qualified Persons

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin.

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 or ALS Canada Ltd. 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

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 hosts both disseminated and high-grade vein-hosted 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.

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Montreal, Quebec--(Newsfile Corp. - March 15, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up and expansion drillholes on the copper rich volcanogenic massive sulphide ('VMS') QF Zone. The QF Zone occurs along the Normétal Mine Horizon which is a kilometric tuffaceous unit that hosts the nearby past-producing Normétal Mine as shown in Figure 1. See Figures 2 & 3 for a plan map and longitudinal section of the drill intercepts and Figure 4 for photos of the polymetallic sulfide mineralization. See Table 1 for a complete list of results and Table 2 for drill hole coordinates.

Highlights include:

  • PEX-22-131: 2.29% CuEq comprising 1.53% Cu, 1.33% Zn, 0.20 g/t Au and 12.65 g/t Ag over 9.85 m (core length) including 4.88% CuEq comprising 3.98% Cu, 0.90% Zn, 0.50 g/t Au and 27.27 g/t Ag over 2.55 m (core length) at a vertical depth of approximately 700 m;

  • PEX-22-128 intersected 2.43% CuEq comprising 1.89% Cu, 0.35% Zn, 0.42 g/t Au and 15.64 g/t Ag over 5.15 m (core length), including 5.18% CuEq comprising 3.55% Cu, 2.67% Zn, 0.60 g/t Au and 22.25 g/t Ag over 3.55 m (core length) at a vertical depth of approximately 500 m.

The QF Zone grades and widths compares favourably to the neighbouring Normetal Mine which produced approximately 10.1 million tonnes grading 2.24% Cu, 5.41% Zn, 0.53 g/t Au, and 44.45 g/t Ag 1937 to 1975, with development down to a depth of approximately 2.40 km (SIGEOM - Mine Normétal).

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results include extensions both along strike to the East (hole PEX-22-128) and at depth (hole PEX-22-131), both of which delivered strong copper-dominant polymetallic grades over attractive widths. The zone shows remarkable consistency in its metal content, dominated by copper, with lesser but always present zinc, gold, and silver. This is a comparable metal assemblage to the neighbouring Normetal mine's metal tenor at depth. We have now drilled over 25 holes into the QF zone and have determined that it is a robust zone of VMS mineralization. Amex plans to conduct another round of borehole electromagnetics (EM) on hole PEX-22-131 which should provide additional expansion targets at depth. We look forward to the receipt of that data and continuing to expand upon the QF Zone."

Table 1. Assay results from the QF Zone at Perron

Hole ID From
(m)
To
(m)
Core Length (m) Est. True Thickness (m) CuEq (%) Cu
(%)
Zn
(%)
Au
(g/t)
Ag
(g/t)
Vertical depth
(m)
PEX-22-128 586.85 592 5.15 3.98 2.43 1.89 0.35 0.42 15.64 ~500
Including 586.85 590.4 3.55 2.66 5.18 3.55 2.67 0.6 22.25
Including 587.35 587.9 0.55 0.44 5.11 0.55 8.39 1.01 72.5
PEX-22-131 796 805.85 9.85 7.24 2.29 1.53 1.33 0.2 12.65 ~700
Including 797.7 800.25 2.55 1.87 4.88 3.98 0.9 0.5 27.27
PEX-22-111 686.6 694 7.4 6.01 0.72 0.33 0.84 0.044 3.78 ~590
PEX-22-111W1 652.6 660 7.4 6.22 0.37 0.25 0.13 0.063 3.55 ~550

 
Note: Estimated true thickness is calculated using a N300/-81 plane.
Formula
Cu_eq (%) = Cu(%) + [ ( Zn(%) * Zn price (lb)/Cu price (lb) ] + [ ( Ag(ppm) * (Ag price (lb)/Cu price (lb)/10000 ] + [ ( Au(ppm) *( Au price (lb)/Cu price (lb))/10000) ]
Assuming 100% Recovery of all metals
2022-06-17 metal price (US $): $4.02/lb Cu, $1.59/lb Zn, $1,837/oz Au, $21.6/oz Ag

Table 2. QF Zone drillhole coordinates

Hole ID Azimuth (°) Dip (°) Start (m) End (m) Length (m) Easting (m)* Northing (m)* Elevation (m)
PEX-22-128 201 -70 0 649 649 615754 5431248 362
PEX-22-131 205 -76 0 880 880 615770 5431353 360
PEX-22-111 202 -71 0 766 766 615707 5431325 362
PEX-22-111W1 204 -64 295,7 720 424,3 615667 5431222 88

 

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Figure 1. Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the new VMS discovery (named the QF Zone). Modified from Lafrance et al., 2000.
 
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Figure 2. Geological compilation map of the target VMS area of the Perron property located within the Normétal Mine Sequence containing the QF Zone. Geology is modified from Sigéom.
 
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Figure 3. Long section of QF Zone with today's released hole locations in green labels. A selection of the previously announced results labelled in black. Assay results are presented in core length (m). True width is approximately 65-85% of reported intercepts as detailed in Table 1.
 
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Figure 4. Highlight photos of the massive to disseminated sulphide Cu-rich lens intersected in drillholes PEX-22-128 and PEX-22-131. Abbreviations: Cp - Chalcopyrite, Sp - Sphalerite, Po - Pyrrhotite, Py - Pyrite
 
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Qualified Person

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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 protocol include insertion of one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG63. The Qualified Person has not completed sufficient work to verify the historic information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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/158499

Montreal, Quebec--(Newsfile Corp. - May 29, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up and expansion drillholes on the Team Zone on the Perron project in the Abitibi region of Quebec. The Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) as shown in Figure 1. The Team Zone is currently outlined over 350 m x 200 m laterally and from surface to a depth of approximately 400 m. See Figure 2 for a plan map of the overall zone and drill intercepts and Figure 3 for photos of the gold mineralization. See Table 1 for a list of the today's drill results and Table 2 for drillholes coordinates.

Highlight drill results include:

  • PE-23-627: 1.70 g/t Au over 68.00 m, including 7.89 g/t Au over 9.70 m, at a vertical depth between 135 and 195 m;
  • PE-22-588: 8.68 g/t Au over 4.00 m, including 19.89 g/t Au over 1.50 m, at a vertical depth of approximately 140 m;

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results are largely focused on the expansion and definition of the Team Zone to the east, following the general northwest-southeast trend of the system. We are very excited to be seeing both high grade mineralization and longer intervals of near-continuous gold within the system as we continue to advance our understanding of the Team Zone. With any new zone it takes time to understand the system through modelling and drilling. The oriented drilling that we have been doing on the Team Zone since September has proven to be very helpful in targeting. We have identified five distinct orientations of gold-bearing veins and are adjusting drill targeting as we advance. Upcoming drilling, along with pending holes, will continue to delineate the zone at 50 metres centres as well as expanding along trend, particularly to the northwest towards the previously discovered 210 Gold Zone. This work will define the gold potential at the Team Zone."

The Team Zone sits within the Beaupre Rhyolite, host to all significant gold occurrences at Perron, at the contact of the Normetal Fault and approximately 600 m north of the High Grade Zone. Gold mineralization occurs within a relatively massive and silicified rhyolite host rock, within quartz-carbonate veins/veinlets containing pyrite, pyrrhotite, chalcopyrite, molybdenite, sphalerite and visible gold. Gold mineralization is also disseminated within the rhyolite host rock, in contrast with several other zones identified on the Project to date. Recently completed structural interpretation by Laurentia Exploration, geological consultants to Amex, has identified several distinct trends to gold-bearing veins in the Team Zone. Visible-gold-bearing quartz-sulfide veins occur on NNW, NE, and NS trends. Gold-bearing (but not visible) quartz-sulfide veins occur on E-W, NW, and NS trends. Drilling has been optimized to intercept as many as possible of these vein sets with each hole. Amex is currently conducting 50 metres spaced (3 dimensionally) definition drill of this system from surface to a depth of ~450 metres vertically. Drilling at Team Zone is ongoing and the Company is awaiting additional assay results which will be released once results are received.

Table 1: Assay results from the Team Zone at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole ID From
(m)
To
(m)
Core Length
(m)
Au (g/t) Vertical
depth (m)
Metal Factor
Core length (g/t Au*m)
PE-22-588 175.00 179.00 4.00 8.68 ~140 34.71
Including 175.00 176.50 1.50 19.89 29.84
And 523.00 524.00 1.00 6.38 ~418 6.38
PE-23-591 117.10 118.50 1.40 4.38 ~100 6.13
And 187.00 188.50 1.50 5.76 ~160 8.64
PE-23-623* 18.40 20.50 2.10 1.95 ~20 4.09
And 28.00 29.50 1.50 16.50 24.75
PE-23-626* 61.80 64.00 2.20 3.96 ~52 8.70
Including 63.50 64.00 0.50 9.97 4.99
And 74.50 80.50 6.00 0.59 ~64 3.54
And 468.70 469.20 0.50 29.68 ~395 14.84
PE-23-627* 163.00 231.00 68.00 1.70 ~135 to 195 115.60
Including 163.00 172.70 9.70 7.89 76.56
With 165.50 166.50 1.00 22.75 22.75
With 171.00 172.70 1.70 30.18 51.31
Including 193.20 195.70 2.50 1.55 3.88
Including 212.50 231.00 18.50 1.73 31.99
With 212.50 214.00 1.50 4.40 6.60
With 230.50 231.00 0.50 39.05 19.53
PE-23-630* 265.00 268.00 3.00 1.21 ~228 3.64
PE-23-632* 84.50 88.80 4.30 2.79 ~72 12.01
Including 85.00 85.50 0.50 16.09 8.05
Including 88.00 88.80 0.80 2.64 2.11

 

*Some results are pending.

Table 2: Team Zone drillhole coordinates

Hole Id Azimuth (°) Dip (°) Length (m) Easting (m) Northing (m) Elevation (m)
PE-22-588 110 -54 524 615077 5431102 350
PE-23-591 291 -63 505 615464 5430958 355
PE-23-623 310 -60 544 615349 5430982 354
PE-23-626 310 -60 520 615335 5430934 353
PE-23-627 310 -60 523 615424 5430891 351
PE-23-630 310 -60 520 615400 5430845 351
PE-23-632 310 -60 403 615363 5430917 352

 

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

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Figure 2. Geological map of Team Zone area of the Perron property, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth. The Team Zone occurs within the Beaupre rhyolite at the contact of the north-dipping Normetal Fault.

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Figure 3. Highlight of visible gold intersected in drillholes: PE-22-588, PE-23-623, PE-23-627, and PE-23-632. Abbreviations: VG - Visible Gold, Po - Pyrrhotite, Py - Pyrite.

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Qualified Person

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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 or ALS Canada Ltd. 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: 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/167842

Montreal, Quebec--(Newsfile Corp. - May 30, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce and discuss results from its property-wide regional exploration campaign on Perron, including two geochemical surveys and exploration diamond drilling. Both the regional drilling and geochemical surveys successfully identified significant targets for follow-up in areas that have seen little to no drilling by Amex or previous operators (Figures 1, 4, & 5). Amex plans to expand and tighten up the spacing of its geochemical dataset, and conduct follow-up drilling on these new targets over the coming months.

Geochemical Exploration Programs Generate both Gold and VMS Targets

Ionic Leach Geochemical Soil Survey

In the fall of 2022, Amex, in conjunction with Vision Geochemistry and Laurentia Exploration, conducted an Ionic Leach geochemical soil survey, covering approximately two thirds of the Perron property. The soil samples were analyzed by the Ionic LeachTM method (ALS Global), which measures the concentration of metal ions in soil. The Ionic Leach method aims to detect mineralization through deep overburden coverage. Geochemical anomalies sourced from ore-grade mineralization often present sharp and high-amplitude signals, which are ideal for drill targeting. The survey was designed to focus with higher resolution over the Beaupre Block and along the Normetal Mine Horizon, and with lower resolution over the Normetal Volcanic Complex and the Normetal Southern Block. The results for zinc and gold from the Ionic Leach survey are both presented in Figure 2.

The Ionic Leach survey highlights a significantly large zinc anomaly (~600m by ~300m) along the eastern portion of the Normetal Mine Horizon. This anomaly is associated with copper, lead, silver and gold, indicative of VMS-type base metal mineralization. On the regional scale, several gold exploration targets were also identified, including:

  • Northeastern corner of the property, near the contact between the Normetal Volcanic Complex and the Gale Group basalt and iron formations;
  • Southern-central portion of the property where the Late Diabase Dyke intrusion contacts the Normetal South Block; and
  • Western area of the Beaupre Block where the Beaupre rhyolite meets the Beaupre basalt and the Normetal South Block.

It should be noted that there is a general enrichment of gold anomalism within the Beaupre Block rhyolites, consistent with the lithological units that host gold mineralization at Perron. An internal analysis was completed to assess the correlation between gold signal strength and the overburden thickness logged from existing drillholes. The analysis determined that the gold anomalies were generally absent in areas where greater than 20m overburden thickness predominates, suggesting that the migration of ions from mineralized zones were unable to reach the upper soil horizons in these areas, including the Denise Zone and a portion of the Team Zone. However, the results from the Ionic Leach geochemical survey show a strong response over the known gold zones located in the western portion of the Beaupre Block, including the Grey Cat Zone, Gratien Zone and the N110 Gold Corridor, where overburden thickness is generally much less than 20m in thickness.

Spruce-Bark Biogeochemical Survey

In the summer and fall of 2022, Amex, also in conjunction with Vision Geochemistry and Laurentia Exploration, conducted a property-wide spruce-bark sampling biogeochemical program. Similar to the Ionic Leach geochemical soil survey, this method aims to locate mineralized areas with limited or no rock exposure due to extensive overburden cover. Black spruce was used because it has the capacity to absorb and retain metals from weathered bedrock and groundwater through their deep root systems. The regional survey was designed to target VMS-type mineralization with high-resolution over the polymetallic QF Zone and lower resolution over the balance of the Perron property.

The results for cadmium and gold from the spruce-bark biogeochemical survey are both presented in Figure 3. For detection of VMS mineralization, cadmium is presented instead of zinc. Because cadmium is geochemically similar to zinc, and unlike zinc, it is not an essential element for plant metabolism, cadmium often serves as a better pathfinder element to target zinc mineralization in biogeochemical surveys.

Results from the property-wide biogeochemical survey delineated a broad VMS target in the dacite-andesite fold of the Normetal Volcanic Complex, signified by the strong cadmium anomalism. The spruce-bark sampling results also show gold anomalies coincident with the Ionic Leach geochemical soil survey results, located in the northeastern corner of the property (Normetal Volcanic Complex and the Gale Group basalt and iron formations) and the southern-central portion of the property (Late Diabase Dyke intrusion contacts the Normetal South Block).

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Figure 1. Geological map of the Perron Property with mineralized zones.

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Figure 2. Zinc and gold results from the Ionic Leach geochemical soil survey. To help visualize anomalous areas, each grid is presented by an inverse distance weighting (IDW) interpolation to predict the z-scores in between soil sample locations

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Figure 3. Cadmium and gold results from the spruce-bark biogeochemical survey. To help visualize anomalous areas, each grid is presented by an IDW interpolation to predict the metal content in between spruce-bark sample locations.

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Regional Drilling Program

During the winter season of 2023, Amex' main drilling focus was on regional exploration in areas that are typically more difficult to access in warmer seasons. This drilling was primarily focused on the newly identified N110 Gold Corridor, which is located north of the Gratien Gold Zone, and the eastern extents of the property along the projected extension of the Beaupre Rhyolite, which is the host to the majority of the gold identified on the Perron project to date (Figure 4). To the west, at the N110 Gold Corridor, Amex has intersected numerous veins and veinlets containing visible gold over short widths. The N110 Gold Corridor was identified through a structural interpretation of the Company's magnetic dataset and scattered historical gold intercepts, including, 3.18 g/t Au over 4.50 m in hole PEX-21-054 and 2.56 g/t Au over 3.30 m in hole PEX-21-065. The results of drilling at the N110 Gold Corridor will be announced once received and compiled in the coming weeks, but preliminarily the Company is very encouraged by the amount of visible gold identified in the structure and has planned follow up work to look for high grade ore shoots within this +1km area of gold mineralization (Figure 4).

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Figure 4. Plan view of the N110 Gold Corridor with visible gold spatial distribution (red stars in the figure) from the 2023 drilling campaign.

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On the eastern side of the project, Amex initially set out to test the projected extension of the Beaupre rhyolite, where the Normetal and Perron faults meet. To date the Beaupre rhyolite has not been intersected to the East of a large diabase dyke; however, Amex intersected VMS-type base metal mineralization (Figure 5). This drilling was done in advance of receiving the geochemical results, and the coincidence of the VMS-type drill intercepts and the very large (greater than 600 m) strike, paired with a strong multielement geochemical anomaly (Zn-Cu-Pb-Ag-Au) are very encouraging. Three drillholes crosscut semi-massive to massive lenses and returned zinc and silver intercepts as shown in Table 1 and Figures 5 and 6. See Table 2 for drillhole coordinates. These initial massive and semi-massive intervals, spread over approximately 600 metres of strike, appear to have only intersected the periphery of the geochemical anomaly, indicating a potentially larger VMS body may be located at the core of the anomaly. Amex is currently conducting borehole EM surveys in the area and plans to drill test any anomalies identified through this survey. Amex will also tighten up its geochemical survey over the balance of the Mine Horizon geological unit, host to the historical Normetal mine, Normetmar deposit, the QF Zone, and this newly identified area of VMS-type mineralization.

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Figure 5. Map view of the new discovery VMS-type mineralization. Zn interpolation of the ionic leach soil program is directly correlated with Zn in drillholes

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Table 1. Assay results from the new VMS discovery

Hole IDFrom (m)To (m)Core length (m)Cu (%)Zn (%)Au (g/t)Ag (ppm)Vertical depth (m)
PEX-23-147220.00223.003.000.011.430.017.42~160
Including220.70220.950.250.0212.850.0456.10
PEX-23-166162.15166.003.850.030.420.027.55~90
Including164.85165.350.500.091.250.0520.30
PEX-23-17084.5092.007.500.010.570.002.46~75
And112.50119.807.300.010.420.012.46~100
And124.00160.7536.750.010.400.013.20~106 to 136
Including124.00127.003.000.010.610.002.35
Including133.00136.753.750.000.610.002.86
Including139.50145.405.900.010.560.013.37
Including154.00160.756.750.010.590.012.48

 

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Figure 6. Highlight photos of the semi-massive to massive sulfide lens intersected in drillholes PEX-23-147 and PEX-23-170. Abbreviations: Sp - Sphalerite, Py - Pyrite, Po - Pyrrhotite, Chl - Chlorite.

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Table 2. Eastern VMS drillhole coordinates

Hole IDAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PEX-23-14710-4504514516168325430228350
PEX-23-16610-4504064066173275429981370
PEX-23-17010-6504514516174285430089362

 

 

Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration commented, "We are very pleased to see the geochemical targets that have been generated through these inexpensive regional surveys. I am particularly intrigued by the VMS-type zinc, silver, lead, and cadmium anomaly on the eastern side of the property, adjacent to and on strike with the past-producing Normetal mine, the Normetmar deposit, and our own QF Zone, as well as the new targets that occur both in the northern and southern extents of the project which have seen very little drilling, as well as the N110 area. Our drilling to the east seems to corroborate the strong geochemical signature and we have drilled several intervals of zinc and silver mineralization, indicative of a possibly significant VMS system in the area. Since our drilling was before receiving the geochemical survey results, we were not targeting the VMS mineralization. The fact that we have intersected VMS type mineralization on the very edge of this anomaly bodes well for a significant new discovery."

Trottier continued," On the gold front, the N110 Gold Corridor is showing a lot of promise, with visible gold intersected in nearly every drill hole. This is a new promising structure and we plan to test this area in detail this summer looking for secondary structures where gold may have concentrated. On the whole our regional exploration program has been a complete success and has generated numerous blue-sky targets at Perron. At the same time, we continue to define the known gold zones and in particular we will be focusing defining and expanding the Team Zone which was found in 2022."

Qualified Person and QAQC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling and geochemistry campaigns 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 protocol include insertion of one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62.

The soil samples were sent to ALS Canada for processing and Ionic LeachTM analysis (ME-MS23). In addition, all soil samples were separately tested for paste pH analysis before and after the additional of HCl (OA-ELE07 and OA-ELE076AP). Ionic Leach samples used a static leaching process using sodium cyanide with a highly sensitive ICP-MS finish capable of sub-ppb detection.

To ensure consistency in the interpretation of the soil data, a geochemist conducted a comprehensive review of the soil descriptions and photos of the collected soil. Due to the heterogeneous overburden cover, the dataset was geochemically levelled using the z-score method. Z-scores are commonly used in statistical analysis to normalize populations of data, and therefore establish meaningful connections between datasets. A higher z-score indicates a data point that is more anomalous in relation to the rest of the dataset. For instance, if a data point has a z-score of 2, it means that its value is two standard deviations (2σ) greater than the mean value of the dataset, equivalent to the 97.7th percentile.

The biogeochemical (bark) samples were sent to Activations Laboratories Ltd. (ACTLABS) Canada. The bark samples were dried below 60°C. Dry vegetation samples are dissolved in acid and analyzed by ICP-MS (code 2G).

The Qualified Person has not completed sufficient work to verify the historic information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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/167985

Montreal, Quebec--(Newsfile Corp. - May 31, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") announces that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on May 30, 2022. A total of 32,029,004 shares were represented in person or by proxy at the meeting, representing approximately 31% of the Corporation's outstanding shares.

The following Board members stood for re-election and were duly re-elected with a minimum of 82% of the votes cast: Victor Cantore, Pierre Carrier, Yvon Gélinas, Luisa Moreno, André Shareck and Jacques Trottier. These directors will hold office until the next annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation.

Raymond Chabot Grant Thornton (RCGT) was reappointed as the external auditor of TGSC and will hold office until the next annual meeting at such remuneration as may be determined by the directors with 99% of the votes cast supporting the appointment of the auditor. Shareholders also voted 95% in favor, to approve Amex's rolling up to 10% stock option plan, through which the total number of common shares reserved for issuance as incentive stock options shall not exceed 10% of the total issued and outstanding common shares. The plan remains subject to the approval of the TSX Venture Exchange.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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/168175

Montreal, Quebec--(Newsfile Corp. - June 5, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") announces that it has ceased exploration activities at the Perron project in accordance with a directive from the Ministère des Ressources Naturelles et des Forêts which has banned forest access on Crown land and closure of roads, meaning immediate stop of any mining exploration activities (see the map) within a prescribed area due to forest fires.

Victor Cantore, President and CEO of Amex Exploration said, "We have temporarily stopped all exploration work at Perron until the situation improves. We remain in communications with local and provincial authorities on the current status of the forest fire situation and will update the market with respect to any material changes."

The Amex team is working remotely and the Company has 5,151 samples at the lab for assay, the results of which will be communicated once received and analyzed.

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 hosts 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/168800

Montreal, Québec--(Newsfile Corp. - July 5, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up and expansion drillholes on the Team Zone on the Perron project in the Abitibi region of Quebec. The Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) as shown in Figure 1. The Team Zone is currently outlined over 400 x 200 m laterally and from surface to a depth of approximately 400 m. See Figure 2 for a plan map of the overall zone and existing drill intercepts and Figure 3 for photos of the gold mineralization. See Table 1 for a list of the today's drill results and Table 2 for drillholes coordinates.

Highlight drill results include:

  • PE-23-633: 26.88 g/t Au over 6.40 m, including 325.39 g/t Au over 0.50 m, at a vertical depth of approximately 205 m;
  • PE-23-634: 12.71 g/t Au over 9.00 m, including 78.38 g/t Au over 1.40 m, at a vertical depth of approximately 35 m, and 4.29 g/t Au over 5.10 m at a vertical depth of approximately 195 m; and
  • PE-23-641: 4.67 g/t Au over 7.10 m, including 60.91 g/t Au over 0.50 m, at a vertical depth of approximately 250 m, and 20.39 g/t Au over 2.50 m at a vertical depth of approximately 325 m;

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results are largely focused on the expansion and definition of the Team Zone to the southeast, following the general northwest-southeast trend of the system. The system is clearly plunging to the southeast, following the overall trend of anomalous mineralization. This indicates the possibility of multiple ore-shoots within the overall mineralized envelope, and presents the opportunity for a larger system along the southern contact of the Normetal fault. The grades seem to be improving to the southeast and this is very promising for continued high grade mineralization at depth, where we will look to tighten up our intercepts and evaluate the Team Zone for underground-type vein sets. Today's results are showing that the potential for that is quite strong, with high grades over thick potentially mineable intervals. We look forward to continued success as we drill off the Team Zone at 50 m centres from surface to approximately 450 m vertically."

The Team Zone sits within the Beaupre Rhyolite, host to all significant gold occurrences at Perron, at the contact of the Normetal Fault and approximately 600 m north of the High Grade Zone. Gold mineralization occurs within a relatively massive and silicified rhyolite host rock, within quartz-carbonate veins/veinlets containing sphalerite, pyrite, molybdenite, and visible gold. Gold mineralization is also disseminated within the rhyolite host rock, in contrast with several other zones identified on the Project to date. Recently completed structural interpretation by Laurentia Exploration, geological consultants to Amex, has identified several distinct trends to gold-bearing veins in the Team Zone. Visible-gold-bearing quartz-sulfide veins occur on NNW, NE, and NS trends. Gold-bearing (but not visible) quartz-sulfide veins occur on E-W, NW, and NS trends. Drilling has been optimized to intercept as many as possible of these vein sets with each hole. Amex is currently conducting 50 m spaced (3 dimensionally) definition drill of this system from surface to a depth of ~450 m vertically.

Trottier continued, "On another note, the forest fires that have been affecting communities and exploration/mining throughout much of northern Quebec have largely been diminished in the Normetal area. To date, none of our facilities nor equipment have been damaged. We will resume core cutting next week and are eager to commence drilling once we are cleared to do so by governmental authorities. We thank the firefighters and agencies that have worked diligently to control the fires and keep the community of Normetal safe."

Table 1: Assay results from the Team Zone at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole IDFrom (m)To (m)Core Length (m)Au (g/t)Vertical depth (m)Metal Factor Core length (g/t*m)
PE-23-63319.5021.201.708.58~1514.58
And66.5067.501.008.27~558.27
And80.0085.505.500.97~705.31
And240.60247.006.4026.88~205172.04
Including246.00246.500.50325.39162.70
including246.50247.000.5012.096.05
PE-23-63437.0046.009.0012.71~35114.43
Including40.9044.503.6031.35112.85
Including40.9042.301.4078.38109.73
And237.60242.705.104.29~19521.89
PE-23-63557.5058.400.902.43~502.19
And95.0095.500.5015.58~807.79
And129.00131.502.508.02~11020.04
And321.50322.801.303.05~2703.96
And342.70344.301.602.11~2903.38
PE-23-63789.0096.207.200.43~803.11
And199.00201.002.004.40~1708.81
And215.50222.006.500.49~1903.20
And330.50340.009.500.67~2806.40
PE-23-63857.5059.502.002.49~504.98
And188.35188.850.505.50~1602.75
And209.50214.705.201.98~18010.30
PE-23-641290.50297.607.104.67~25033.14
Including295.80296.300.5060.9130.46
And376.50379.002.5020.39~32550.98
PE-23-64229.5030.701.2013.54~2516.25
And119.05122.503.451.23~1004.25
And428.50430.652.1511.48~36024.68
And463.50470.507.000.74~3905.15

 

Table 2: Team Zone drillhole coordinates

Hole IdAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PE-23-633310-6005205206153715430802349
PE-23-634310-5504664666153905430959354
PE-23-635310-6004754756154175430777348
PE-23-637310-600417.25417.256154435430819350
PE-23-638310-6005205206153545430870352
PE-23-641310-6005115116154815430799349
PE-23-642310-6005205206153245430828350

 

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

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Figure 2. Geological map of Team Zone area of the Perron property, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth. The Team Zone occurs within the Beaupre rhyolite at the contact of the north-dipping Normetal Fault.

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Figure 3. Highlight photos of Team Zone mineralization intersected in drillholes PE-23-633 and PE-23-642. Abbreviation: VG - Visible Gold.

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Qualified Person

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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. The Qualified Person has not completed sufficient work to verify the historic information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

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.

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/172363

Montreal, Quebec--(Newsfile Corp. - July 11, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that it has resumed its gold exploration drilling program at its 100% owned Perron project located just outside the town of Normetal, Quebec. Currently four drills are on site at the newly discovered Team Zone. The Team Zone is currently outlined over 400 x 200 m laterally and from surface to a depth of approximately 400 m. It sits within the Beaupre Rhyolite at the contact of the Normetal Fault and approximately 600 m north of the High Grade Zone.

Jacques Trottier, Chairman of the Board, commented, "Thanks to the hard work of the fire fighters, the forest fires in the Normetal area are largely behind us and we are resuming our drilling with an immediate focus on the Team Zone. We have identified five distinct orientations of gold-bearing veins and we are delineating the zone at 50 metres centres as well as expanding along trend. Drilling on this target has gone exceptionally well as evidenced by our recent results and I look forward to the balance of the summer drilling and to reporting more results from our exploration work."

Trottier continued, "With respect to our regional exploration drill program we anticipate following up on the Gratien zone, the N110 corridor to the west, as well as the eastern VMS target later in the summer/fall. There is no shortage of exciting targets at Perron and I am very pleased to be back in the field."

Amex confirms none of its facilities nor equipment were damaged by the forest fires.

Qualified Persons, Quality Assurance & Quality Control

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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 or ALS Canada Ltd. 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

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 hosts 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/173058

Montreal, Quebec--(Newsfile Corp. - September 5, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from follow-up and expansion drillholes on the Team Zone on the Perron project in the Abitibi region of Quebec. The Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) as shown in Figure 1. The Team Zone is currently outlined over 400 x 200 m laterally and from surface to a depth of approximately 400 m. Also reported are intercepts from the spatially associated 210 Gold Zone, which seems to follow a structural trend along the Normetal fault zone and may be genetically related to the Team Zone. See Figure 2 for a plan map of the overall zone and existing drill intercepts and Figure 3 for photos of the gold mineralization. See Table 1 for a list of the today's drilling results and Table 3 for drillholes coordinates.

In addition, Amex is pleased to announce assay results from the newly discovered N110 Gold Corridor which is located north of the Gratien Gold Zone, and the eastern extents of the property along the projected extension of the Beaupre Rhyolite, which is the host to the majority of the gold identified on the Perron project to date, see Figure 4 for location, Figure 5 for photos of N110 Gold Corridor mineralization, Table 2 for a list of drill results and Table 4 for drillhole coordinates. The N110 Gold Corridor was identified through a structural interpretation of the Company's magnetic dataset and scattered historical gold intercepts.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am pleased to see continued high grade mineralization from the Team Zone. Our drilling is focused on defining and expanding this important newly discovered zone. The mineralization starts at surface and may be suitable for open pit extraction."

Trottier continued, "We are also pleased to announced results from the N110 Gold Corridor which is a new mineralized area to the west of the Beaupre Block that can be followed over one kilometer of strike length. We are interested in this target for its potential to host additional possible high grade ore shoots given the amount of VG in the system. We will continue our exploration drilling on this area later in the year to determine if new gold zones can be identified."

The Company also wishes to report that much of the Perron property is being logged as part of the Government of Quebec's Forest management protocols, following the Normetal-area wildfire. As a result, numerous roads are being constructed on the property providing Amex with unprecedented access to the Perron project.

"The logging work should be completed by the end of the fall along with the construction of tens of kilometres of logging roads providing us with year-round access to areas of the Perron property which were only previously accessible by helicopter. This access will significantly reduce our exploration costs in theses areas and provide us with access to numerous untested targets, many of which are geologically very exciting," said Trottier.

The Team Zone sits within the Beaupre Rhyolite, host to all significant gold occurrences at Perron, at the contact of the Normetal Fault and approximately 600 m northeast of the High Grade Zone. Gold mineralization occurs within a relatively massive and silicified rhyolite host rock, within quartz-carbonate veins/veinlets containing sphalerite, pyrite, minor chalcopyrite, molybdenite, and visible gold. Gold mineralization is also disseminated within the rhyolite host rock, in contrast with several other zones identified on the Project to date. Amex is currently conducting 50 m spaced (3 dimensionally) definition drilling of this system from surface to a depth of ~450 m vertically. Today's results are a part of the ongoing definition drilling program. The associated 210 Gold Zone results presented occur within the same drill holes that targeted the Team Zone. This is quite encouraging as the two closely located zones have the potential to be a part of the same gold system or mineralizing event. Note that the 210 Gold Zone intercept true widths and vein orientations are unknown, and further drilling optimization is required in order to define and understand this part of the system.

The N110 Gold Corridor was identified through a structural interpretation of the Company's magnetic dataset and scattered gold intercepts, including, 3.18 g/t Au over 4.50 m in hole PEX-21-054 and 2.56 g/t Au over 3.30 m in hole PEX-21-065. The N110 mineralization is characterized by numerous veins and veinlets that occur within massive silicified Beaupre rhyolite. The majority of the holes targeting this corridor have intercepted visible gold mineralization, which is encouraging as it indicates a very fertile mineralizing fluid. The Company is conducting a review of the data and drill core with an aim to test for High Grade Zone type ore shoots within this widespread area of visible gold mineralization.

Table 1: Assay results from the Team Zone & associated 210 Gold Zone at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole IDFrom (m)To (m)Core length (m)Au (g/t)Ag (g/t)Vertical depth (m)Metal Factor* (g/t Au*m)Zone
PE-23-64426.0026.500.503.770.40~201.89Team Zone
And154.00154.500.503.840.10~1301.92
And324.50326.001.503.750.47~2755.62210 Gold Zone
And390.00391.501.500.620.10~3300.93
PE-23-645169.00170.501.500.880.10~1451.32Team Zone
And223.00226.003.000.680.10~1952.05
And317.20317.700.502.330.10~2751.16
And328.00329.501.501.110.101.67
PE-23-645W1333.50341.007.501.380.42~28510.37Team Zone
Including333.50335.001.505.831.708.75
And354.65355.500.852.350.20~3002.00
And391.50392.000.502.380.40~3401.19
And398.50399.000.501.040.100.52
PE-23-64714.1515.000.851.030.10~100.88Team Zone
And68.5073.004.500.850.10~603.84
And124.00125.301.300.970.15~1051.26
And137.50139.702.200.960.24~1202.10
Including139.20139.700.502.720.701.36
PE-23-64826.8028.301.506.270.10~209.41Team Zone
And231.55232.551.000.780.15~1900.78210 Gold Zone
PE-23-649193.00194.601.604.670.48~1757.47210 Gold Zone
Including194.10194.600.5013.621.306.81
PE-23-65040.5045.905.401.740.23~359.41Team Zone
And112.50113.000.5010.390.80~955.20
And167.40169.702.3087.144.11~145200.42
Including167.90168.400.50394.4118.10197.21

 

*Metal factor is defined as gold grade multiplied by core length.

Table 2: Assay results from the N110 Gold Corridor at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole IDFrom (m)To (m)Core length (m)Au (g/t)Ag (g/t)Vertical depth (m)Metal Factor* (g/t Au*m)Zone
PEX-21-060238,00239,501,503,302,30~2154,95N110
And314,50323,509,000,451,03~2804,04
PEX-22-101195,00198,253,253,660,69~14011,90N110
Including197,75198,250,5021,793,1010,90
And285,50291,506,000,770,43~2004,61
PEX-22-114288,00294,006,004,061,09~21524,33N110
Including288,00288,500,5028,011,0014,01
Including293,30294,000,7013,585,909,51
PEX-22-11677,5078,000,507,011,20~603,51N110
And170,00170,500,501,170,40~1300,59
And241,50243,001,501,020,10~1801,54
PEX-22-117175,50178,503,000,840,10~1302,52N110
PEX-23-135328,50329,000,501,981,20~2450,99N110
And466,50467,200,705,831,80~3354,08
PEX-23-138160,50161,050,551,450,10~1250,80N110
And199,50200,100,6010,320,50~1506,19
And300,00300,500,503,190,50~2301,60
PEX-23-14148,8055,006,200,490,10~403,01N110
And340,80341,500,702,171,60~2551,52
PEX-23-151131,50133,001,501,520,10~902,27N110
And247,50249,001,501,060,10~1901,58
And258,00264,506,500,370,122,42
And268,70270,001,302,073,352,69
And276,00279,003,000,840,152,51
PEX-23-16245,3046,000,701,120,40~300,79N110
And180,50181,000,502,060,45~1301,03
And293,50295,001,501,590,10~2152,39
PEX-23-165145,50148,302,800,540,29~1001,50N110
And172,00173,501,501,390,30~1152,09
And210,40211,000,604,490,40~1502,69
And292,00293,501,505,140,40~2007,71
PEX-22-167183,60184,100,503,041,00~1351,52N110
And250,00250,500,501,960,50~1900,98
PEX-23-16916,0017,501,501,640,10~152,46N110
And75,5076,000,502,130,40~651,07
And99,0099,500,501,150,30~850,57
And344,70346,501,800,790,10~2901,43
And381,00381,500,501,720,30~3200,86
PEX-23-171155,00157,002,001,230,64~1152,46N110
And196,00196,900,901,430,70~1451,29
And313,45314,501,052,000,30~2302,10
PEX-23-17216,0020,504,500,730,10~103,29N110
And100,00104,504,501,660,12~857,48
Including104,00104,500,5012,090,306,05
And210,70211,300,603,671,40~1802,20
And232,70237,004,301,550,166,66
And236,10237,000,906,730,406,06
And378,50379,000,501,530,10~3200,77
PEX-22-17451,0054,503,500,820,13~402,86N110
And111,00112,501,501,140,40~851,71
And178,50180,001,501,900,30~1352,85

 

*Metal factor is defined as gold grade multiplied by core length.

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Figure 1. Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the Team Zone, 210 Gold Zone and N110 Gold Corridor.

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Figure 2. Geological map of 210 Gold Zone and Team Zone area of the Perron property, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth.

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Figure 3. Highlight photos of 210 Gold Zone in drillhole PE-23-649 and Team Zone in drillhole PE-23-650. Gold mineralization is associated with tension quartz-sulfide veins. Abbreviation: VG - Visible Gold.

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Figure 4. Plan view of the N110 Gold Corridor from the 2021 to 2023 drilling campaign.

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Figure 5. Highlight photos of N110 Gold Zone from drillholes PEX-22-114 and PEX-23-165. Gold mineralization is associated with late quartz-sulfide veins/veinlets. Abbreviation: VG - Visible Gold.

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Table 3: Team Zone & 210 Gold Zone drillhole coordinates

Hole IdAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PE-23-644310-600515.7515.7615072.55431039.6350
PE-23-645310-600331.0331.0615522.35430771.7349
PE-23-645W1310-60321508.0184.0615522.35430771.7349
PE-23-647310-600502.5502.5615289.05430846.1351
PE-23-648310-600518.8518.8615111.45431069.1352
PE-23-649130-600408.0408.0614810.35431232.7345
PE-23-650310-600509.8509.8615306.65430896.4352

 

Table 4: N110 Gold Corridor drillhole coordinates

Hole IdAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PEX-21-060174-580910.0910.0613073.05431422.9330
PEX-22-101200-450297.0297.0612647.25431665.2335
PEX-22-114230-500297.0297.0612800.25431670.8336
PEX-22-116190-500315.0315.0612725.85431524.7334
PEX-22-117190-500315.0315.0613156.35431353.0327
PEX-23-135205-500505.0505.0612643.35431687.5335
PEX-23-138205-500373.0373.0612417.35431741.8335
PEX-23-141205-500448.5448.5612501.75431752.8335
PEX-23-151294-450466.0466.0612663.75431497.8332
PEX-23-162205-500352.0352.0612688.55431617.8335
PEX-23-16524-450316.0316.0613130.15431138.3327
PEX-22-167205-500355.0355.0612822.65431545.1335
PEX-23-16930-600401.0401.0613213.95431154.4328
PEX-23-171205-500364.0364.0613176.55431448.0335
PEX-23-17265-600412.0412.0613214.45431153.8328
PEX-22-174198-500606.0606.0613070.15431425.3335

 

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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. The Qualified Person has not completed sufficient work to verify the historic information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

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/179542

Montreal, Quebec--(Newsfile Corp. - September 12, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce the appointment of a technical and mining advisory team to assist Amex in moving the Perron Project forward through exploration to development. The team brings many years of experience in project development from resources estimation, mine permitting and project construction. The team will be comprised of Pierre Luc Richard, Jonathan Gagne, Stephen Coates, and Jacqueline Leroux.

"Collectively this team has been involved in the development of multiple projects in Canada across a range of commodities including gold," said Victor Cantore, President and CEO of Amex Exploration. "As the Perron project matures and we look to initiate economic studies we have identified a need to strengthen our team. This group has a wealth of knowledge and experience to help us take the Perron project forward towards the future of mining. They have worked on notable projects in Canada and I and my team value their contributions and guidance."

Mr. Richard is president of PLR Resources Inc. With over twenty years in the mining industry, Mr. Richard has an excellent grasp of all aspects of exploration and mining operations, including project evaluation, development, and management. He has solid expertise in gold and a strong background in silver, base metals, lithium, iron ore and rare earth deposits. Specializing in mineral resource estimates and project evaluation for potential acquisitions and corporate guidance, Mr. Richard has contributed to more than 250 mandates for over 75 different companies during his consulting career. He has authored/coordinated more than 100 technical reports under National Instrument 43-101 and JORC. Before founding PLR Resources Inc., Mr. Richard has held positions such as Director Geology at InnovExplo and Subject Matter Expert for Mineral Resource Estimates at BBA.

Mr. Gagne is a mining engineer with a background both in operation and project development. In his sixteen years in the mining industry, he participated in the construction of two projects: the Meadowbank mine and most recently the Greenstone mine. He was also responsible for the mining engineering department for the consulting company SGS Geostat, he was the engineer in charge of supporting the open-pit operations for Glencore Zinc around the world and acted as General Manager of Sayona Quebec.

Mr. Coates is an established Mining Engineer with experience in mining operations, technical study delivery, due diligence, mine financing, business development, and strategic development. He is a professional engineer with a bachelor's degree in mining engineering from McGill University. He previously worked for various operations including the Canadian Malartic Mine and the Renard Mine and consulting groups, including G Mining Services. He has recently founded his independent consulting firm, Evomine Consulting, which offers mining engineering and management consulting services with in-depth insights on the Quebec mining industry.

Mme. Leroux has more than twenty years of experience in the mining industry, mainly in Northern Quebec. She has held senior positions with various organizations including Environmental Manager for Goldcorp's Eleonore Project, Director of Sustainable Development for Mason Graphite, VP Environment for BlackRock Metals and VP Environment and Permitting for Troilus Gold. For those Projects, she oversaw permitting activities related to Exploration, Environment Evaluation Processes and Construction.

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 4,560 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/180255

- Intersects 9.50 m of 8.48 g/t Au, 4.20 m of 29.27 g/t Au, and 4.30 m of 12.60 g/t Au -

Montreal, Quebec--(Newsfile Corp. - October 23, 2023) - Amex Exploration Inc. (TSXV: AMX) (FRE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a number of drill holes focused exploration and definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. See Figure 1 for a plan view of the geology of the EGZ, Figure 2 for a longitudinal section of the Denise Zone, Figures 3 and 4 for a cross sections displaying Denise results, Figure 5 for images of gold mineralization, Table 1 for assay results, and Table 2 for drillhole coordinates.

Highlights include:

  • PE-23-663 returned 9.50 m of 8.48 g/t Au including 0.50 m of 155.15 g/t Au at a vertical depth of ~600 m;
  • PE-23-681W1 returned 4.20 m of 29.27 g/t Au including 0.50 m of 236.57 g/t Au at a vertical depth of ~570 m; and
  • PE-23-621 returned 4.30 m of 12.60 g/t Au including 1.50 m of 32.57 g/t Au at a vertical depth of ~565 m.

Today's drill results are focused on defining and expanding upon the high grade shoot of the main Denise body, as well as some exploratory drilling to the East. Amex has identified a distinct high-grade lens of subvertical mineralization that dips eastward, in a similar fashion to the High Grade Zone. The presence of significant visible gold, and associated multi-ounce assays, indicates the strength of the mineralized system. Amex aims to define this lens as well as explore for addition lenses along the main Denise trend, all of which will add significantly to the overall inventory of mineralization on the Perron project.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results clearly demonstrate high grade depth extensions to Eastern Denise, combined with a significant strike length of at least 500 metres. This shoot follows the plunge and geometry of the High Grade Zone, which we are modelling as an underground target. The presence of this well mineralized Denise system adds significantly to the future ounce-per-vertical-metre count in the system and should be highly accretive to a future mining scenario. Amex intends to continue defining this shoot, as well as testing a second higher grade shoot further to the east which likely follows the same plunge as evident by holes PE-22-545 and PE-22-584."

In addition, the Company is pleased to report that it currently has 5 drills on site dedicated to exploring and defining the Team Zone, High Grade Zone, Denise Zone, Gratien Zone and regional exploration.

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Figure 1: Geological map of the Eastern Gold Zone, showing each of the significant gold mineralized zones identified to date, including the Denise Zone.

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Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor as presented in this longitudinal is defined as gold grade multiplied by estimated true thickness.

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Figure 3: Cross Section 614875E through the Denise results from this release.

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Figure 4: Cross Section 615075E through the Denise results from this release.

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Figure 5: Highlight photos of Denise mineralized intercepts from drillhole PE-23-621, PE-23-663 and PE-23-681W1. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
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Table 1: Assay results from the Denise Zone at Perron.

Hole IDFrom (m)To (m)Core length (m)Au (g/t)Ag (g/t)Vertical depth (m)
PEX-21-062424.00426.502.500.811.86~355
And526.50531.505.000.762.04~430
And554.00558.254.250.620.87~445
And562.60563.450.851.591.00~455
PEX-22-077EXT225.50239.5014.000.350.12~160
PE-20-230W1744.00758.2514.250.720.89~660
PE-21-307595.50597.001.5010.290.10~520
Including672.40676.504.100.431.93~580
PE-22-489142.50148.506.000.710.19~120
PE-22-495W1558.60561.002.407.420.35~460
PE-22-506455.35457.301.951.950.53~345
PE-22-509593.50595.001.502.380.30~440
And607.50610.603.100.630.19~485
PE-22-531W1765.50769.153.650.660.14~580
PE-22-534861.00868.507.500.530.18~680
PE-22-542312.50324.8512.350.850.12~240
PE-22-56278.3079.000.702.160.40~55
And169.00179.1010.100.660.11~120
PE-22-563162.00166.004.000.661.24~120
Including162.00162.700.701.856.30
And169.50179.5010.000.320.24
PE-22-565232.50235.503.001.000.25~155
PE-22-56733.5047.0013.500.590.32~30
PE-22-57269.0076.007.000.460.41~60
And271.90273.001.102.720.60~210
PE-22-584505.10506.101.0013.514.25~375
PE-22-589310.50312.001.504.910.50~445
PE-23-592125.00126.001.002.950.50~90
And161.20163.502.301.210.17~110
PE-23-595214.00215.501.501.220.30~175
PE-23-60296.5098.502.002.260.65~65
And113.50117.003.500.970.74~80
And130.25133.253.000.780.28~90
PE-23-610411.70416.004.301.370.44~320
Including413.00413.500.507.660.50
And464.00472.508.501.070.24~355
PE-23-620556.90561.004.100.380.10~470
PE-23-621656.70661.004.3012.600.47~565
Including656.70657.200.509.290.60
Including658.00659.501.5032.571.00
PE-23-663690.00699.509.508.480.63~600
Including691.75692.250.50155.158.30
And705.80707.601.800.840.24
PE-23-675658.50660.401.903.590.18~610
And692.00694.502.500.750.31~630
PE-23-669W1487.10488.301.200.950.10~405
And495.00496.501.502.250.30
And514.90515.400.5010.050.40~420
PE-23-681W1653.90658.104.2029.271.62~570
Including653.90654.400.50236.5711.10
And657.60658.100.508.011.20

 

Table 2: Drillhole Coordinates for Today's Results.

Hole IdAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PEX-21-062178-6205885886151165430888347
PEX-22-077EXT175-45146398.75252.756149415430806342
PE-20-230W1163-693008535536147465431009344
PE-21-307173-650733.25733.256147465431010344
PE-22-489178-6002762766148735430669339
PE-22-495W1167-632816573766148395430963342
PE-22-506174-5704934936150045430875343
PE-22-509166-5307097096150325431039347
PE-22-531W1160-571477736266151295431036350
PE-22-534164-5809009006152405431100353
PE-22-542179-5203403406150645430726342
PE-22-562179-4502322326150015430644343
PE-22-563179-4502502506151005430652343
PE-22-565179-4502742746151795430673343
PE-22-567175-5204004006152075430771343
PE-22-572179-5402982986150055430682343
PE-22-584179-5205195196151945430868343
PE-22-589179-5104804806152595430836339
PE-23-592180-4502132136150575430631344
PE-23-595170-5603103106152015430667343
PE-23-602182-450211.9211.96151565430622343
PE-23-610179-5504924926147475430904344
PE-23-620165-6306636636149185430968344
PE-23-621172-6707157156149145430976344
PE-23-663165-6407177176150625430968344
PE-23-675174-7007507506148405430965344
PE-23-669W1167-612756003256148425430926344
PE-23-681W1176-663356753406148405430961344

 

Corporate Update

Amex also announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group ("ITG") to provide market-making services, in accordance with the policies of the TSXV. Under the agreement, ITG will receive compensation of CAD$7000 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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. The Qualified Person has not completed sufficient work to verify the historic information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

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/184825

Montreal, Quebec--(Newsfile Corp. - November 14, 2023) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a significant intercept of 47.70 meters at 16.97 g/t Au from hole PE-23-710, identified during resource-focused drilling of the High Grade Zone ("HGZ"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. See Figure 1 for a plan view of the geology of the EGZ, Figure 2 for a longitudinal section of the HGZ, Figure 3 for images of gold mineralization, Table 1 for assay results, and Table 2 for drillhole coordinates. As displayed in Figures 1 & 2, a north-south trending Proterozoic dike cross-cuts the HGZ and the related Denise Zone.

As part of Amex's resource-focused drilling, it was recommended that the Company drill west-east to define the margins of a late cross-cutting Proteozoic Diabase Dike, in order to precisely quantify its shape and volume for resource modelling. During this exercise, Amex drilled partially along the strike of the HGZ and identified spectacular visible gold over a significant width (see Figure 3) in an area previously thought to be weakly mineralized. These results showcase the along-strike continuity as well as the consistent high-grade nature of the HGZ. Amex is currently completing five additional drillholes in this orientation to define the dike from near-surface to depth.

Today's highlight results (in core length) include:

PE-23-710: 16.97 g/t Au over 47.70 m at a vertical depth between 140 m and 180 m

Including: 53.11 g/t Au over 13.20 m and 614.74 g/t Au over 0.50 m.

Table 1: Assay result from the High Grade Zone at Perron, table including any single sample that returned more than 1 g/t Au. These results are uncut.

Hole IDFrom (m)To (m)Core Length (m)Au (g/t)Ag (g/t)Vertical depth (m)
PE-23-710160.30208.0047.7016.971.35~140-180
Including160.30173.5013.2053.113.05
Including164.00164.500.5035.428.50
Including165.50166.000.5037.253.00
Including166.00166.600.60220.2412.10
Including166.60167.100.5010.950.20
Including167.10167.600.5049.881.90
Including167.60168.100.50614.7420.10
Including168.10169.000.9033.560.70
Including169.00169.500.50158.4011.00
Including169.50170.000.5095.932.30
Including187.00208.0021.005.111.03
Including193.00194.501.5017.383.80
Including197.80198.300.5068.435.90
Including198.30198.800.5021.542.10
Including198.80199.300.5024.767.70

 

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results clearly demonstrate the continuity of the High Grade Zone along strike in the near-surface portion of the system. Equally significant is the discovery of ultra high-grade gold mineralization where we previously thought there was little to no gold and therefore should have a net positive impact on the resource calculation of this HGZ."

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Figure 1: Plan view of the geology of the Eastern Gold Zone, showing each of the significant gold mineralized zones, including the HGZ and Denise Zone. Drillhole PE-23-710 is located.

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Figure 2: Long section of the High Grade Zone. Assay results are presented in core length (m). True width of today's results are difficult to quantify as the hole was drilled sub-parallel to mineralization not intended to cross the body of mineralization nor define the zone.

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Figure 3: Photos of HGZ mineralized intercepts announced in this release. Abbreviations: VG - Visible Gold, Py - Pyrite, Sp - Sphalerite.

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Table 2: Drillhole Coordinates for Today's Results.

Hole IDAzimuth (°)Dip (°)Start (m)End (m)Length (m)Easting (m)Northing (m)Elevation (m)
PE-23-71073-5903013016145665430719341

 

Qualified Person

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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 or ALS Canada Ltd. 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.

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 4,560 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.

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