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gold related news

AMEX EXPLORATION GOLD DISCOVERY INVESTOR NEWS

 

Montreal, Quebec--(Newsfile Corp. - June 16, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from a number of drill holes focused on expansion drilling of the High Grade Zone ("HGZ"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project as shown in Figure 1. Today's drill results demonstrate that the HGZ is expanding along strike, outside of the main high grade central ore shoot.

Highlights include:

  • 15.52 g/t Au over 15.85 m, including 198.36 g/t Au over 1.20 m, in hole PE-22-511W3 at a vertical depth of 750 m; and
  • 11.27 g/t Au over 11.00 m, including 203.72 g/t Au over 0.50 m, in hole PE-22-511W2 at a vertical depth of 785 m

As part of its resource definition program, Amex has been focused on expansion of known zones of mineralization through much of the 2022 drilling program. This drilling targeted the margins of the known gold mineralization as shown in Figures 2 & 3, outside of the main "core" of the HGZ that regularly delivers multi-ounce assay results. These results from the HGZ expansion are definitively adding significant tonnage and potential ounces to the overall ore zone. Of particular interest are the results from holes PE-22-511W2 & PE-22-511W3, which returned very high assay values (see Figure 4 for images of visible gold mineralization) in an area that low grade mineralization was expected. This is highly encouraging for exploration as it shows that high grade lenses exist outside of the main mineralized zone.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The expansion drilling program on the HGZ is going very well. I was very excited seeing the strongly mineralized core especially in the two highlight holes. In addition to the high grade holes, the lower grade mineralization that we have been intercepting on the fringes of the system is adding significant strike and tonnage to the system which should enhance the future resource on the HGZ."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone as well as the newly discovered E2 Gold Zone.

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Figure 2: Longitudinal section of the High Grade Zone, with today's released hole locations in green labels. Assay results are presented in core length (m). True width is approximately 45-70% of reported intercepts. Metal factor is defined as gold grade in grams per ton multiplied by core length in metres.

 

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Figure 3: Zoomed in longitudinal section of Western HGZ, with today's released hole locations and grades labelled in green. Assay results are presented in core length (m). True width is approximately 45-70% of reported intercepts. Metal factor is defined as gold grade in grams per ton multiplied by core length in metres.

 

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Figure 4: Highlight photos of visible gold and associated sphalerite and pyrite within quartz veins of the High Grade Zone from holes PE-22-511W2 and PE-22-511W3.

Table 1: Assay results from the High Grade Zone

Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Gold Metal Factor (g/t*m)
Western HGZ PE-22-511W3 848.15 864.00 15.85 15.52 750.00 245.99
Including 857.75 864.00 6.25 38.98 243.63
Including 860.90 862.10 1.20 198.36 238.03
PE-22-511W2 876.00 887.00 11.00 11.27 785.00 123.95
Including 884.50 885.00 0.50 203.72 101.86
PE-21-447 504.00 521.00 17.00 1.83 450.00 31.04
Including 518.15 520.50 2.35 9.19 21.59
PE-22-503W1 806.80 811.70 4.90 6.20 700.00 30.38
Including 807.30 808.15 0.85 23.34 19.84
PE-21-288 966.00 976.50 10.50 2.59 880.00 27.18
PE-21-240 607.00 610.30 3.30 2.96 540.00 9.78
PE-22-500 757.30 769.40 12.10 0.78 670.00 9.43
PE-22-516W1 1019.50 1025.60 6.10 0.80 940.00 4.86
PE-21-288W1 969.30 969.80 0.50 7.99 880.00 4.00
PE-22-500W1 755.20 759.20 4.00 0.56 660.00 2.24
Eastern HGZ PE-22-455W2 1232.5 1235.2 2.7 3.22 1120 8.7
PE-22-455 1249.35 1251.1 1.75 4.23 1150 7.41
PE-20-187W3 1162.5 1173 10.5 0.69 1050 7.22
PE-22-462 263 276.15 13.15 0.51 210 6.64
PE-22-455W3 1216.9 1219.9 3 2.03 1110 6.09
PE-21-448W2 964 970.25 6.25 0.69 890 4.31
PE-22-477 299 303.3 4.3 0.8 220 3.45

  

In addition, the Company wishes to make a correction to the press release issued February 17, 2022, which stated that the quantity of shares issued in connection with the financing was 10,295,500. The correct quantity of shares issued was 10,292,500.

Qualified Person

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 in this news release. 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 protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

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.

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Montreal, Quebec--(Newsfile Corp. - June 20, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up 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.

Highlights include:

  • PEX-21-083W1 intersected 2.86% CuEq comprising 2.17% Cu, 0.90% Zn, 0.28 g/t Au and 18.84 g/t Ag over 6.40 m including 4.81% CuEq comprising 4.25% Cu, 0.18% Zn, 0.36 g/t Au and 32.44 g/t over 1.60 m at a vertical depth of approximately 570 m;
  • PEX-22-108 intersected 2.08% CuEq comprising 1.84% Cu, 0.17% Zn, 0.13 g/t Au and 11.77 g/t Ag over 7.10 m, including 6.08% CuEq comprising 5.43% Cu, 0.27% Zn, 0.40g/t Au and 35.39g/t Ag over 1.90 m at a vertical depth of approximately 560 m; and
  • PEX-21-098W2 intersected 6.03% CuEq comprising 5.37% Cu, 0.39% Zn, 0.36 g/t Au and 33.58 g/t Ag over 2.20 m at a vertical depth of approximately 610 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 illustrate that the copper rich core of QF zone is becoming more robust at the 600 m level and shows a very good eastern lateral extension with copper values of about 2% over a thickness of approximately 4 to 5 meters. The apparent gap of intercepts and borehole geophysical anomalies between the surface and the 600 m level may simply be due to the absence of drilling in this area. Additionally, the QF VMS discovery is still open in all directions and additional work including more borehole geophysics and drilling will be needed to fully evaluate the real potential of this VMS discovery at Normétal."

Table 1: Assay results from the QF Zone at Perron

Hole ID From (m) To (m) Length (m) CuEq (%) Cu (%) Zn (%) Au (g/t) Ag (g/t) Vertical depth (m)
PEX-21-083W1 688.00 694.40 6.40 2.86 2.17 0.90 0.28 18.84 ~570
Including 690.70 692.30 1.60 4.81 4.25 0.18 0.36 32.44
PEX-22-108 646.70 653.80 7.10 2.08 1.84 0.17 0.13 11.77 ~560
Including 650.10 652.00 1.90 6.08 5.43 0.27 0.40 35.39
PEX-21-098W2 738.75 740.95 2.20 6.03 5.37 0.39 0.36 33.58 ~610
PEX-21-095 481.70 483.65 1.95 2.59 1.20 1.33 0.63 57.07 ~400
PEX-21-096 535.00 536.90 1.90 1.44 1.17 0.27 0.14 8.83 ~470
PEX-21-094 742.65 745.55 2.90 0.49 0.44 0.03 0.03 2.43 ~650
PEX-21-098W1 772.45 775.15 2.70 0.43 0.25 0.37 0.03 1.36 ~660

 
Formula
CuEq (%) = 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

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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. Previously announced (September 21, 2021) results labelled in black. Assay results are presented in core length (m). True width is approximately 50-70% of reported intercepts.
 

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Figure 4. Highlight photos of the massive to disseminated ulphide Cu-rich lens intersected in drillholes PEX-21-083W1 and PEX-22-108. Abbreviations: Cp - Chalcopyrite, Po - Pyrrhotite, Py - Pyrite, MS - Massive Sulphides,
 

Qualified Person

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 in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and 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 Qualified Person has not completed sufficient work to verify the historic information on the Property, 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/128293

 

Montreal, Quebec--(Newsfile Corp. - September 7, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up drillholes on the copper-rich volcanogenic massive sulphide ('VMS') QF Zone located on Amex 100% owned Perron property. 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 Table 1 for a complete list of results, Table 2 for drill hole coordinates, Figures 2 & 3 for a plan map and longitudinal section of the drill intercepts, and Figure 4 for photos of the polymetallic sulfide mineralization.

Results include:

  • PEX-22-118 intersected 1.70% CuEq comprising 0.92% Cu, 1.60% Zn, 0.08 g/t Au and 12.26 g/t Ag over 14.80 m (core length) including 3.58% CuEq comprising 3.10% Cu, 0.32% Zn, 0.19 g/t Au and 28.80 g/t Ag over 3.60 m at a vertical depth of approximately 480 m; and
  • PEX-22-107W1 intersected 0.58% CuEq comprising 0.29% Cu, 0.57% Zn, 0.03 g/t Au and 5.32 g/t Ag over 5.50 m (core length).

The QF Zone style of mineralization compares favourably to the neighbouring Normétal 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 intercept in hole PEX-22-118 represents the largest interval of VMS-style mineralization identified on the QF Zone to date. As can be seen in both the table of results and the core photos, we are seeing classic VMS textures and zonation of metals, resulting in a significant transition from copper-rich to zinc-rich throughout the reported interval. Amex will conduct additional borehole EM geophysics to further define the mineralized system. In addition to the base metal results announced today, Amex is also waiting on numerous assays from its drilling program focused on gold mineralization. Assays are expected to be received shortly and we look forward to releasing them once reviewed and interpreted."

Table 1: Assay results from the QF Zone at Perron

Hole ID From (m) To (m) Core Length (m) True Thickness (m) CuEq (%) Cu (%) Zn (%) Au (g/t) Ag (g/t) Vertical depth (m)
PEX-22-118 585.30 600.10 14.80 10.93 1.70 0.92 1.60 0.08 12.26 ~480
Including 588.50 592.10 3.60 2.66 3.58 3.10 0.32 0.19 28.80
Including 589.00 589.60 0.60 0.44 11.20 9.60 0.65 0.99 87.80
Including 591.60 592.10 0.50 0.37 7.23 6.29 1.14 0.00 62.20
Including 592.10 600.10 8.00 5.91 1.27 0.09 2.78 0.03 7.56
Including 592.10 592.60 0.50 0.37 8.77 0.38 19.90 0.14 54.80
Including 599.40 600.10 0.70 0.52 6.56 0.49 14.25 0.49 14.25
PEX-22-107W1 754.15 759.65 5.50 4.22 0.58 0.29 0.57 0.03 5.32 ~625
Including 754.15 754.80 0.65 0.50 2.00 1.62 0.27 0.08 28.10
Including 758.10 758.60 0.50 0.38 2.10 0.33 4.28 0.06 4.40
PEX-22-107 727.90 729.90 2.00 1.67 0.65 0.13 1.14 0.07 2.68 ~570
PEX-22-105 801.10 802.20 1.10 0.83 0.44 0.22 0.44 0.04 2.36 ~670
Previously released
PEX-21-083W1 688.00 694.40 6.40 5.17 2.86 2.17 0.90 0.28 18.84 ~570
Including 690.70 692.30 1.60 1.29 4.81 4.25 0.18 0.36 32.44
PEX-22-108 646.70 653.80 7.10 5.37 2.08 1.84 0.17 0.13 11.77 ~560
Including 650.10 652.00 1.90 1.44 6.08 5.43 0.27 0.40 35.39
PEX-21-098W2 738.75 740.95 2.20 1.81 6.03 5.37 0.39 0.36 33.58 ~610
PEX-21-095 481.70 483.65 1.95 1.42 2.59 1.20 1.33 0.63 57.07 ~400
PEX-21-096 535.00 536.90 1.90 1.32 1.44 1.17 0.27 0.14 8.83 ~470
PEX-21-094 742.65 745.55 2.90 1.99 0.49 0.44 0.03 0.03 2.43 ~650
PEX-21-098W1 772.45 775.15 2.70 2.11 0.43 0.25 0.37 0.03 1.36 ~660


Note: Estimated true thickness is calculated using a 300N/-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 drill hole coordinates

Hole ID Azimuth (°) Dip (°) Length (m) Easting (m)* Northing (m)* Elevation (m)
PEX-22-118 205 -66 687 615737 5431264 362
PEX-22-107W1 206 -64 560 615888 5431301 100
PEX-22-107 210 -73 805 615888 5431301 361
PEX-22-105 205 -73 877 615888 5431299 362
PEX-21-083W1 199 -61 453 615757 5431339 94
PEX-22-108 205 -70 721 615791 5431271 361
PEX-21-098W2 205 -71 451 615780 5431215 38
PEX-21-098W1 205 -71 423 615764 5431184 -27
PEX-21-095 205 -62 572 615646 5431244 362
PEX-21-094 200 -70 821 615695 5431352 365
PEX-21-096 204 -69 643 615646 5431245 362


*UTM NAD83 - Zone 17

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Figure 1. Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and polymetallic VMS QF Zone, along with the location of the past-producing Normétal mine. 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. Previously announced (September 21, 2021) discovery hole results labelled in black. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts in Table 1.

 

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Figure 4. Highlight photos of the massive to disseminated sulfide Cu-rich lens intersected in drillhole PEX-22-118. Note the transition from chalcopyrite dominant mineralization near the top of the intercept to sphalerite dominant mineralization towards the bottom of the intercept. Abbreviations: Cp - Chalcopyrite, Sp - Sphalerite, Po - Pyrrhotite, Py - Pyrite, MS - Massive Sulphides.

 

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/136110

 

Montreal, Quebec--(Newsfile Corp. - September 8, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is very proud to announce that it has received UL 2723 ECOLOGO® Certification for Mineral Exploration Companies. We have successfully completed the final stage of the certification process, which includes audit results, use of the UL ECOLOGO® mark, and registration in UL's SPOT sustainable product database. We are very proud of this accomplishment and intend to continue working to promote this certification and its advantages, helping to make it a key objective in the mineral exploration sector.

A plan for the future

The responsible development of mineral resources has become a must. It is a factor in all parts of society, and every project needs to be designed and executed with it in mind. For mineral exploration companies and their service providers, that entails applying the best social, environmental, and economic practices.

For our company, UL ECOLOGO® Certification for Mineral Exploration promotes a better work environment, motivates employees, improves our appeal as an employer, strengthens strategic planning, and aids in risk management. As studies tend to show, being certified means we could be better prepared for changes to legislation and are likely to have better relationships with stakeholders, which would contribute to the social acceptability of our projects and help improve completion times.

The certification process

We began the accreditation process on January 11, 2022, successfully completing it on August 15, 2022. In completing the process, we showed that we met all of the responsible development indicators required to obtain UL ECOLOGO® Certification for Mineral Exploration.

A team effort

We would like to thank the Quebec Mineral Exploration Association (QMEA) and their coaching program for their collaboration. We greatly appreciate their support and guidance and are grateful for their contribution to the success of our efforts.

Victor Cantore, Amex Exploration's president and CEO commented, "Being awarded ECOLOGO Certification is a proud achievement for our whole team. The ECOLOGO certification demonstrates to all our stakeholders, including investors and communities, that a trusted third party has carefully evaluated our operations and procedures to validate that our environmental, social and governance procedures and practices in relation to exploration in Quebec meet or exceed best practices. This certification illustrates our company's commitment to sustainable and responsible mining."

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 has open-pit potential to access high-grade underground zone. Since January 2019, Amex has intersected significant gold mineralization in multiple zones and discovered two copper-rich VMS zones.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Sources and information:

UL ECOLOGO® Certification for Mineral Exploration

https://canada.ul.com/ulcprograms/explore/

https://spot.ul.com/

QMEA's coaching program:

https://aemq.org/en/certification-about/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136278

 

Montreal, Quebec--(Newsfile Corp. - September 27, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a new gold zone discovery called the Team Zone on the Perron project in the Abitibi region of Quebec. The near-surface Team Zone occurs ~600 m to the northeast of the High Grade Zone and ~300 m northeast of the E2 Gold Zone (Figure 1). To date, Amex has intercepted visible gold mineralization in 14 of 20 holes targeting the Team Zone over an area of approximately 200 m by 100 m.

Owing to a significant delay at the assay lab, the partial results below represent only the samples in each hole that were sent for screen metallic assays (this assay method is selected when gold mineralization is anticipated owing to visible gold, significant veining, and/or significant sulfides). When the fire assay results for the balance of the reported holes are received, Amex will issue updated results. See Table 1 for a list of the partial results, Table 2 for drill hole coordinates, Figure 1 for a map of the Perron project geology showing the location of the Team Zone, and Figure 2 for a map showing the distribution of visible gold identified to date throughout the Team Zone.

Kelly Malcolm, Vice President of Amex Exploration, will present an overview of the Company's progress to date including the new Team Zone in an interactive 3D and 360º virtual tour using the VRIFY Platform. A webinar presentation will be aired live on Wednesday September 28, 2022, at 10am EST. Please register here: Amex Zoom Webinar

Please see the following link to view a teaser video of the 3D presentation: https://youtu.be/ogv-INAO93w

The VRIFY platform integrates all aspects of the Perron Project including drone footage of the location, infrastructure, the multiple discoveries and then transitions underground revealing the mineralization using the drilling and assay results reported to date. The 3D VRIFY Presentation can also be found on our website after the webinar. https://www.amexexploration.com/

Table 1: Assay results from the Team Zone at Perron. Note these results represent partial drill results. Also note that true width is currently unknown.

Hole ID From
(m)
To
(m)
Core
Length
(m)
Au g/t Vertical
depth (m)
PE-22-519 444.50 445.00 0.50 6.91 ~360
PE-22-525 115.00 116.50 1.50 4.05 ~90 to 165
And 171.50 173.50 2.00 15.19
And 204.80 205.80 1.00 1.83
PE-22-537 202.50 204.00 1.50 7.68 ~170 to 310
And 231.55 232.05 0.50 12.16
And 380.00 381.00 1.00 9.55
PE-22-545 180.80 184.50 3.70 3.64 ~150 to 295
And 220.20 225.30 5.10 1.61
And 249.00 249.50 0.50 22.10
And 365.60 367.00 1.40 68.66
PE-22-546 127.25 140.00 12.75 1.69 ~100
Including 136.90 137.40 0.50 31.59
PE-22-547 109.00 109.50 0.50 5.93 ~80 to 250
And 329.60 330.10 0.50 31.97
PE-22-548 216.00 225.50 9.50 10.05 ~185
Including 221.50 222.00 0.50 53.22
Including 224.50 225.00 0.50 80.24
PE-22-549 212.50 217.10 4.60 1.61 ~160
PE-22-550 213.35 218.80 5.45 0.85 ~175
PE-22-554 149.50 150.00 0.50 27.73 ~115 to 180
And 236.00 239.00 3.00 11.17
PE-22-555 40.00 43.00 3.00 2.78 ~30 to 185
And 73.90 75.90 2.00 2.62
And 91.40 94.90 3.50 1.99
And 225.20 227.20 2.00 6.96
PE-22-556 26.25 28.50 2.25 19.04 ~20 to 275
And 311.50 314.00 2.50 1.76
And 334.80 335.90 1.10 1.60
PE-22-561 129.50 140.00 10.50 3.31 ~110
Including 130.50 131.00 0.50 24.67
Including 138.30 138.80 0.50 20.00

 

Table 2: Team Zone drill hole coordinates

Hole Id Azimuth
(°)
Dip (°) Length
(m)
Easting
(m)
Northing
(m)
Elevation
(m)
PE-22-519 162 -59 892 615240 5431099 364
PE-22-525 168 -55 862 615239 5431099 364
PE-22-537 162 -56 713 615241 5431100 364
PE-22-545 162 -55 570 615234 5431037 351
PE-22-546 165 -50 508 615284 5431032 351
PE-22-547 179 -52 670 615299 5430995 353
PE-22-548 165 -58 625 615333 5431034 351
PE-22-549 165 -52 511 615385 5431037 355
PE-22-550 163 -55 498 615155 5430976 347
PE-22-554 120 -50 331 615177 5431038 351
PE-22-555 120 -55 352 615159 5430980 357
PE-22-556 118 -57 364 615176 5431039 351
PE-22-561 163 -55 355 615284 5431033 351

 

Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "We are very excited by the amount of visible gold in the core of almost every hole drilled into the Team Zone. While we have been working to understand the size and geometry of this system, drilling has exceeded expectations. We have intercepted several panels of gold mineralization across a significant area of the north-eastern portion of the Beaupre Block. The Team Zone is delivering both high-grade gold in tension-type veins as well as nice wider composites of lower-grade mineralization. We look forward to the receipt of the fire assay results for the balance of today's reported holes as well as all assays for the balance of the un-released drillholes, in order to get a fulsome understanding of this very interesting new discovery. This zone is an important new discovery as it represents potentially a new deposit with its own gold resources that could be adding to the other known zones on the still under-explored Perron property. Consequently, we have decided to assign a drill to continue exploration on the Team Zone while the other drills are still dedicated to the EGZ, including the HGZ and Denise definition and expansion, and regional exploration."

The Team Zone is situated within the Beaupre rhyolite block, which is the host to the majority of gold identified to date on the Perron project. Gold mineralization is associated with quartz-carbonate veins & tension veinlets which are at times folded and/or brecciated. The gold-bearing quartz veins are found in both rhyolite and mafic intrusive bodies, unlike many of the other gold zones at Perron which are lithologically controlled. The mineral assemblage however, comprising pyrite-pyrrhotite +/- sphalerite +/- chalcopyrite +/- visible gold, is similar to the Eastern Gold Zone mineralization (Figure 3). As shown in Figure 2, Amex has drilled the Team Zone at multiple orientations, in order to identify the geometry of the system. As additional assay results are received and additional drillholes are completed, the 3-dimensional shape and size potential of the Team Zone will be revealed.

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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 target Team Zone area. Shown are all of the areas with identified visible gold (VG), across a widespread area of approximately 200m x 100m.


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Figure 3: Highlight photos of visible gold within quartz veins of the Team Zone from holes PE-22-525. PE-22-537, PE-22-545, PE-22-554 and PE-22-561. Abbreviations: VG - Visible Gold, Py - Pyrite.

 

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 VRIFY

VRIFY has a cloud based technology which communicates a company's value with presentation tools that simplify information and translate tough to digest data into compelling content. The platform allows companies to showcase project data with interactive 3D models, host global site visits of remote assets using virtual tours, and present content to any device, anytime, anywhere in the world. The VRIFY platform is building a more transparent mining investment ecosystem.

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/138496

 

Montreal, Quebec--(Newsfile Corp. - December 5, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that it was awarded the Exploration Company of the Year Award on Thursday, December 1, 2022, in front of an international audience of its peers at the Mines and Money Annual Gala Dinner. The Exploration Company of the Year Award is a competitive category that recognizes success in arguably the most important area of the mining sector. The 2022 Explorer of the Year acknowledges a company and its leadership team for a significant new discovery made, or advanced to a meaningful status, in the period between 1 October 2021 and 30 September 2022.

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By the end of 2022, Amex Exploration will have completed close to 375,000 m of drilling on its 100% owned Perron Project in Quebec, Canada. Amex's drilling campaign is one of the largest and most ambitious in Canada with the objective of discovering and defining the gold and VMS potential of the Perron property. By analysing and interpreting data compiled from geophysics, structural data, and geochemistry the Amex team and its partners have replicated their success in the original Eastern Gold Zone discovery and made numerous other discoveries on the project. In total Amex has outlined an area of gold and VMS mineralization that stretches over 4 km laterally on the Perron property. In the past year alone, Amex has discovered four new gold zones and two copper-rich VMS zones, while expanding and defining the High-Grade Gold Zone (HGZ) (underground mining target) and the adjacent Denise Zone (near surface bulk-tonnage target).

In addition to exploration success, Amex also recently qualified for ECOLOGO certification through a framework for environmental, social and corporate governance to adapt to the current environment of sustainable investing. Finding new mines through sustainable mineral exploration is at the heart of the Amex Exploration team's values.

Amex also completed its largest financing of ~$49.6 million in February at a price of $4.82 per flow-through share, which provides complete funding for the company's aggressive exploration program through to the end of 2023.

Victor Cantore, President and CEO of Amex Exploration, commented, "I am very proud of the dedicated team and the quality of work we have produced. Exploration is at the core of Amex culture and we continue to stay focused on delivering results for our shareholders and stakeholders. The Perron project is located in a greenstone belt of Quebec that was previously overlooked for gold. Our success has proven that perseverance leads to discoveries which will benefit the people of the area and the province of Quebec."

Cantore continued, "I would also like to take this opportunity to congratulate the Province of Quebec for winning the Most Improved Mining Jurisdiction Award recognizing its implementation of the Québec Plan for the Development of Critical and Strategic Minerals 2020-2025."

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/146745

Montreal, Quebec--(Newsfile Corp. - December 6, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce updated and upgraded results on the newly discovered Team Zone on the Perron project in the Abitibi region of Quebec. Today's results include the pending fire assays as well as previously released high-grade intervals from the metallic sieve assaying technique. The Team Zone delivers a combination of both high grade gold over narrow intervals as well as wide zones of disseminated gold. The near-surface 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). To date, Amex has intercepted visible gold mineralization in 17 of 23 holes targeting the Team Zone over an area of approximately 300 m by 150 m from surface to a depth of ~380 m. Additional results are pending from the ongoing drill program at this important target.

Today's highlight results include:

PE-22-548: 6.75 g/t Au over 14.50 m at a vertical depth of ~180 m

Including: 26.34 g/t Au over 1.50 m
And including: 32.60 g/t Au over 1.50 m
And: 1.74 g/t Au over 17.0 m at a vertical depth of ~250 m

PE-22-554: 1.08 g/t Au over 163.50 m beginning at a vertical depth of ~110 m

Including: 4.55 g/t Au over 3.50 m at a vertical depth of ~110 m
And including: 11.17 g/t Au over 3.0 m
And including: 2.71 g/t Au over 37.0 m
Which includes: 7.90 g/t Au over 8.50 m

PE-22-545: 2.09 g/t Au over 7.0 m at a vertical depth of ~160 m

And: 1.07 g/t Au over 11.80 m
And: 22.10 g/t Au over 0.50 m
And: 68.66 g/t Au over 1.40 m

PE-22-546: 1.69 g/t Au over 12.75 m at a vertical depth of ~95 m

PE-22-552: 1.56 g/t Au over 15.0 m at a vertical depth of ~165m

PE-22-555: 1.70 g/t Au over 6.0 m at a vertical depth of ~25m

And: 1.95 g/t Au over 8.70 m at a vertical depth of ~180m

PE-22-556: 19.04 g/t Au over 2.25 m at a vertical depth of ~20 m

PE-22-560: 1.15 g/t Au over 11.10 m at a vertical depth of ~100 m

PE-22-561: 1.78 g/t Au over 24.0 m at a vertical depth of ~80 m.

On September 27, 2022, Amex announced partial results from metallic sieve assays for the new Team Zone discovery. Today's results represent the entirety of the sampled intervals of the reported holes. The new results exceed the Company's early expectations as many areas that looked weakly mineralized at best have returned appreciable disseminated gold. This results in a unique system which provides flexibility for future mining, with respect to underground or open pit mining. 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 assay results as well as the distribution of visible gold identified to date throughout the Team Zone, and Figure 3 for photos of visible gold in several holes in the Team Zone.

Jacques Trottier, Executive Chairman of Amex, commented "With the receipt of the balance of the fire assays on the Team Zone, we are now starting to understand the geometry of the system. The volume of rock that has been affected by this mineralizing event, consisting of stockwork-type and tension-type veins and veinlets along with associated alteration, is quite extensive and I believe it has significant potential to grow both along strike and to depth. The fact that we have seen multiple occurrences of visible gold in the majority of holes targeting this zone is also very exciting. This is also the most significant discovery made to date along the northern limb of the Beaupre rhyolite. The Team Zone has become a priority for Amex and we will begin aggressively drilling it through the winter season."

The Team Zone is situated along the northern limb of the Beaupre rhyolite block, which is the host to the majority of gold identified to date on the Perron project. Gold mineralization is associated with quartz-carbonate veins & tension veinlets which are at times folded and/or brecciated. In addition to the vein-hosted mineralization, there is a component of disseminated pyrite-associated gold (as evident by today's results). The gold-bearing quartz veins are found in both rhyolite and mafic intrusive bodies, unlike many of the other gold zones at Perron which are lithologically controlled. The mineral assemblage however, comprising pyrite-pyrrhotite +/- chalcopyrite +/- sphalerite +/- molybdenite +/- visible gold, is similar to the Eastern Gold Zone mineralization. As shown in Figure 2, Amex has drilled the Team Zone at multiple orientations to identify the geometry of the system. The geological team has been utilizing oriented drill core to determine the orientation of the veins and overall mineralizing system. As additional assay results are received and additional drill holes are completed, the 3-dimensional shape and size potential of the Team Zone will be revealed.

Table 1: Assay results from the Team Zone at Perron. Note these results are completed. Also 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-22-537W1 208.50 209.50 1.00 18.69 ~160 to 365
And 449.60 452.00 2.40 4.60
And 481.50 483.00 1.50 1.17
PE-22-545* 177.50 184.50 7.00 2.09 ~150 to 295
And 213.50 225.30 11.80 1.07
And 249.00 249.50 0.50 22.10
And 365.60 367.00 1.40 68.66
PE-22-546* 107.50 115.50 8.00 0.56 ~80 to 180
And 127.25 140.00 12.75 1.69
And 198.30 202.00 3.70 1.35
And 230.50 238.00 7.50 0.55
PE-22-547* 63.50 72.00 8.50 0.67 ~50 to 260
And 109.00 122.50 13.50 0.57
And 160.50 173.50 13.00 0.49
And 329.60 330.10 0.50 31.97
PE-22-548* 214.00 228.50 14.50 6.75 ~180 to 250
Including 221.00 222.50 1.50 26.34
Including 224.00 225.50 1.50 32.60
And 276.00 293.00 17.00 1.74
PE-22-549* 176.50 178.00 1.50 1.14 ~130 to 210
And 212.50 217.10 4.60 1.61
And 236.50 243.15 6.65 0.34
And 287.50 288.50 1.00 1.49
PE-22-552 101.00 102.50 1.50 5.34 ~65 to 165
And 241.00 256.00 15.00 1.56
Including 254.50 256.00 1.50 12.69
PE-22-553 132.00 133.50 1.50 2.43 ~90
PE-22-554* 149.50 313.00 163.50 1.08 ~110 to 230
Including 149.50 153.00 3.50 4.55
And including 170.40 173.50 3.10 1.02
And including 203.20 207.00 3.80 2.10
And including 236.00 239.00 3.00 11.17
And including 270.00 307.00 37.00 2.71
Which includes 270.00 270.80 0.80 30.86
And includes 298.50 307.00 8.50 7.90
PE-22-555* 40.00 46.00 6.00 1.70 ~25 to 180
And 73.90 75.90 2.00 2.62
And 91.40 94.90 3.50 1.99
And 218.50 227.20 8.70 1.95
PE-22-556* 26.25 28.50 2.25 19.04 ~20 to 270
And 162.50 163.30 0.80 1.38
And 201.00 202.00 1.00 1.35
And 247.00 275.50 28.50 0.55
And 308.50 314.00 5.50 1.09
And 334.80 335.90 1.10 1.60
PE-22-557 29.50 35.00 5.50 0.77 ~15 to 235
And 86.00 90.00 4.00 0.99
And 256.50 286.50 30.00 0.50
And 330.00 333.00 3.00 1.35
PE-22-558 49.00 50.00 1.00 22.97 ~36 to 200
And 199.00 200.50 1.50 2.14
And 277.50 280.00 2.50 1.64
PE-22-559 16.70 18.00 1.30 1.12 ~10 to 295
And 48.00 49.50 1.50 1.63
And 85.00 86.50 1.50 1.17
And 203.40 208.00 4.60 0.88
And 230.70 231.40 0.70 2.95
And 400.90 401.50 0.60 1.51
PE-22-560 36.50 37.00 0.50 1.34 ~25 to 220
And 146.50 157.60 11.10 1.15
Including 146.50 148.00 1.50 7.20
And 221.50 223.00 1.50 1.11
And 316.00 316.60 0.60 7.20
PE-22-561* 44.80 45.50 0.70 2.74 ~35 to 200
And 116.00 140.00 24.00 1.78
Including 129.50 140.00 10.50 3.31
And 163.90 165.00 1.10 2.13
And 248.00 252.50 4.50 0.57

 

*Hole updated since the last press release

Table 2: Team Zone drill hole coordinates

Hole ID Azimuth (°) Dip (°) Length (m) Easting (m) Northing (m) Elevation (m)
PE-22-537W1 167 -54 628 615274 5430989 196
PE-22-545 162 -55 570 615234 5431037 351
PE-22-546 165 -50 508 615284 5431032 351
PE-22-547 179 -52 670 615299 5430995 353
PE-22-548 165 -58 625 615333 5431034 351
PE-22-549 165 -52 511 615385 5431037 355
PE-22-552 170 -45 418 615385 5431036 355
PE-22-553 163 -45 481 615177 5431035 351
PE-22-554 120 -50 331 615177 5431038 351
PE-22-555 120 -55 352 615160 5430979 357
PE-22-556 118 -57 364 615176 5431039 351
PE-22-557 118 -48 336 615160 5430978 357
PE-22-558 118 -45 301 615238 5431038 351
PE-22-559 120 -48 423 615125 5431035 351
PE-22-560 168 -45 328 615284 5431031 351
PE-22-561 163 -55 355 615285 5431033 351

 

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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 are all of the areas with identified visible gold (VG) and significant assays, across a widespread area of approximately 300 m x 150 m.

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Figure 3. Examples of visible gold in three holes of the Team Zone. PE-22-556 showing visible gold and the sheeted vein / stockwork type system. PE-22-558 showing a dispersion of visible gold within a quartz vein. PE-22-554 showing visible gold grains in a quartz vein associated with pyrite and pyrrhotite.

To view an enhanced version of Figure 3, please visit:
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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/146890

Montreal, Quebec--(Newsfile Corp. - May 12, 2022) - 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 10, 2022. A total of 24,177,225 shares were represented in person or by proxy at the meeting, representing approximately 23.72% of the Corporation's outstanding shares.

The following Board members stood for re-election and were duly re-elected: Victor Cantore, Pierre Carrier, Bryan Coates, Yvon Gélinas, Anik Gendron, 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 98% 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.

Corporate Update

Also during the AGM, the Company provided a review of operations during the year 2021 and to date. Depending on the season, Amex has up to 10 drills turning and is drilling approximately 10,000 metres a month, making this campaign one of the largest and most aggressive exploration programs in Canada.

The carefully planned 2021 exploration program led to important new discoveries:

  • the Alizee Gold Zone
  • the 210 Gold Zone
  • the Upper HGZ
  • the E2 Gold Zone and,
  • a new copper rich VMS discovery, the QF Zone.

In addition, Amex further defined and expanded the Denise Zone and identified exceptional high-grade gold continuity in the High-Grade Gold Zone (HGZ). To date, Amex has hit very high-grade and often visible gold in multiple zones across the project over a 3.5 km corridor of gold mineralization.

Much of the winter drilling campaign focused on the Denise zone and the newly discovered E2 zone, taking advantage of better access due to the cold weather. The Denise target is a very important zone that is kilometric in scale. Numerous additional holes are pending and planned, to better define this area along strike and to depth.

The E2 zone is also a very important target for Amex, as it is an underground-type ore shoot that lies only ~250 metres from the HGZ zone and is proving to be sub-parallel. Of course, the HGZ continues to be an important zone and is a very rich underground target.

In terms of financing, over 60M$ was raised since 2021 and since the discovery of the HGZ at the end of 2018, Amex has drilled approximately 280,000 meters, in 788 drill holes, and another 60-70,000 meters of drilling is expected to be completed before the end of the year.

With all of this activity, the Company wishes to highlight its commitment to moving forward using environmental, social and economic best practices. Earlier this year, Amex began the process to obtain the ECOLOGO® Certification for Mineral Exploration Companies. Amex expects to complete certification before the end of the year. ECOLOGO® features third-party certification of environmental, social and economic practices.

Finally, the Company adopted a Code of Conduct and Business Ethics and is addressing diversity, women now make up to 25% of our Board and visible minorities, make up 12.5%. To support our efforts, the Board has created an ESG Committee to ensure strong, value creating, governance practices in place.

Board Update

Following the AGM, the Corporation is announcing that as of today, Mr. Bryan Coates, an independent director, has resigned from the Board of Directors for personal reasons. Amex Exploration thanks Mr. Coates for his contribution to the Board over the past 2 years.

Qualified Person
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 in this news release. 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 protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

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/123863

Montreal, Quebec

 

Montreal, Quebec--(Newsfile Corp. - May 9, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 9 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. In addition, the Company is also pleased to report 11 drills holes from the newly discovered E2 Gold Zone ("E2"). See Figure 1 for a plan view of the geology of the EGZ. In addition, Amex would like to remind shareholders of its Annual General Meeting and corporate update which is scheduled for Tuesday, May 10, 2022 at 10:00 AM Eastern time and will be made available via webcast in consideration of current Covid 19 Government guidelines.

Register for the Zoom broadcast here: https://us06web.zoom.us/meeting/register/tZ0qdOCorjkoGNcQmBM-YC2Nnwcry-3SWQdN

Today's drill results demonstrate that tenure and grade of the eastern area of Denise is starting to replicate the western Denise Zone which has been well defined with diamond drilling. These results indicate the potential for higher grade shoots forming within the eastern Denise, similar to what has been defined in the western Denise. A complete list of results is available in Table 1 and presented in Figure 2.

The E2 Gold Zone has now been expanded down to a vertical depth of 370 m and along strike for 325 m. A complete list of results is available in Table 2 and presented in Figure 3.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Hole PE-22-510 recorded one of the best intersections that we have reported to date in the Denise Zone. We are now seeing very high grade individual samples within the broader panel of mineralized rhyolite that comprises Denise. We are continuing to drill and define this important target as we believe it has the potential to add significant ounces at Perron. In addition, we are beginning to understand the geometry and plunge of the E2 Gold Zone, which roughly parallels the High Grade Zone. The proximity of the E2 and HGZ, approximately 250 metres apart, should be very positive in a potential underground mining scenario as the ounce-per-vertical-metre count would increase significantly."

Trottier continued, "Amex management is very excited about these results and very much looks forward to the continuation of the current drilling phase and the start of the summer fieldwork season which will begin in the coming days. In addition to the ongoing drilling campaign, fieldwork this summer will consist of detailed geological mapping and stripping of exposed surfaces (i.e. outcrops) on a regional scale covering various areas of the property, as well as regional studies of rock geochemistry and bio-geochemistry."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone as well as the newly discovered E2 Gold Zone

To view an enhanced version of Figure 1, please visit:
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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 is defined as gold grade multiplied by core length.

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Figure 3: Longitudinal section of the E2 Gold 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 is defined as gold grade multiplied by core length.

To view an enhanced version of Figure 3, please visit:
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Table 1: Assay results from Eastern Denise Zone

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PE-22-510 376.50 407.40 30.90 11.57 357.51 ~270 Eastern Denise Zone
Including 396.00 396.50 0.50 55.08 27.54
Including 406.90 407.40 0.50 601.47 300.74
PE-22-502 321.00 322.00 1.00 27.87 27.87 ~290-310
And 349.00 352.50 3.50 3.29 11.52
PE-22-472W1 412.90 414.60 1.70 7.10 12.07 ~340
PE-22-488 295.70 297.70 2.00 1.69 3.37 ~240-270
And 347.50 348.00 0.50 12.69 6.35
PE-22-472 348.00 354.00 6.00 0.60 3.62 ~290-350
And 412.50 414.50 2.00 2.79 5.58
And 412.50 422.00 9.50 0.80 7.59
PE-22-485 144.50 147.25 2.75 1.06 2.93 ~90
PE-22-494 329.00 334.80 5.80 0.43 2.49 ~220
PE-22-497 283.00 284.50 1.50 2.17 3.26 ~210
PE-22-474 325.70 329.00 3.30 0.72 2.38 ~240-290
And 407.70 408.30 0.60 5.27 3.16

 

Table 2: Assay Results from E2 Gold Zone

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PEX-22-102W1 455.50 465.60 10.10 3.71 37.46 ~330 E2 Gold Zone
Including 456.90 457.40 0.50 33.62 16.81
Including 463.60 464.10 0.50 12.63 6.32
PE-22-501 515.45 516.10 0.65 27.40 17.81 ~310
PE-22-484 512.90 515.30 2.40 5.76 13.83 ~380
Including 512.90 513.40 0.50 14.07 7.04
PE-22-494 39.10 39.60 0.50 21.60 10.80 ~30
PEX-22-099 478.50 482.60 4.10 2.36 9.66 ~350
Including 479.70 480.20 0.50 6.04 3.02
Including 482.00 482.60 0.60 5.12 3.07
PEX-22-100 534.70 538.65 3.95 1.67 6.60 ~410
Including 534.70 535.20 0.50 7.86 3.93
PEX-20-033 173.70 174.55 0.85 1.47 1.25 ~110
PEX-21-070 194.70 198.70 4.00 0.41 1.64 ~140
PEX-22-102 481.00 484.50 3.50 0.65 2.26 ~340-350
PE-22-460 116.00 117.00 1.00 1.22 1.22 ~250
PE-22-497 190.70 194.40 3.70 1.29 3.95 ~140

 

Qualified Person

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 in this news release. 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 protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

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/123163

 

Junior gold mining company, Amex Exploration is expanding their Denise Zone in Quebec by an additional 450 m to the east.

Highlights from the Denise Zone include:

Western Denise

  • 65.00 m of 1.89 g/t Au, including 0.50 m of 197.35 g/t Au at a vertical depth of ~345-390 m in hole PE-21-422;
  • 58.50 m of 1.82 g/t Au, including 0.50 m of 177.65 g/t Au, at a vertical depth of ~350-400 m in hole PE-21-392;
  • 166.50 m of 0.59 g/t Au, including 30.30 m of 1.16 g/t Au and 6.00 m of 5.16 g/t Au at a vertical depth of ~170-280 m in hole PE-21-411;
  • 16.00 m of 5.77 g/t Au, including 1.50 m of 59.97g/t Au at a vertical depth of ~200 m in hole PE-21-432;
  • 66.60 m of 1.28 g/t Au, including 1.50 m of 34.22 g/t Au at a vertical depth of ~430-480 m in hole PE-21-415

Eastern Denise

  • 41.30 m of 0.88 g/t Au, including 14.90 m of 1.50 g/t Au at a vertical depth of ~230 m in hole PE-22-468;
  • 19.10 m of 0.83 g/t Au, including 0.50 m of 19.64 g/t Au at a vertical depth of ~105 m in hole PE-22-480;

Montreal, Quebec--(Newsfile Corp. - April 11, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 27 drill holes focused on near surface and on-strike expansion as well as 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 and the mineralized zones.

Today's drill results demonstrate that Denise can now be traced over ~950 m from the Western mafic intrusion to the most Eastern intercept to date in the Denise structure. The Company intends to continue to drill to the East to further expand the Denise Zone along strike. In addition, Amex will continue definition drilling on Western Denise particularly at the depth where there appears to be a higher grade trend developing. A complete list of results is available in Table 1 and presented in Figure 2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very encouraged by the results from the Eastern Denise Zone as they clearly show the structure continues near surface and along strike as we predicted and is now a confirmed kilometric sized system. We have numerous additional holes pending and planned to better define this area along strike and to depth. In addition, our infill drilling on Western Denise has begun indicating multiple higher grade ore shoots within the larger Denise mineralized envelope. We have also defined the Western Denise down to 750 metres. The Denise Zone is wide open along strike and to depth and has the potential to be a very sizeable structure and potential open pit target."

Trottier continued, "One of the best features of our Perron project is that we have both bulk tonnage style and exceptionally high-grade vein-hosted gold zones on the Project. This provides us with optionality from a mining perspective. The close proximity of the Denise Zone to the High Grade Zone makes it a very important target for Amex. We look forward to the receipt of additional results as we work towards building out the property-wide resource."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and 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. Note that drillholes 163-15-021 and 163-15-018 on the easternmost portion of this longitudinal were drilled by a previous operator and have not been fully sampled. The Company intends to evaluate the core to determine if additional sampling of these holes is necessary. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Table 1: Assay results from Denise Zone

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PE-21-422 432.00 497.00 65.00 1.89 122.72 345-390 Western Denise Zone
Including 432.00 432.50 0.50 197.35 98.68
PE-21-392 421.50 480.00 58.50 1.82 106.41 350-400
Including 442.50 443.00 0.50 177.65 88.83
PE-21-411 232.50 399.00 166.50 0.59 98.73 170-280
Including 294.50 324.80 30.30 1.16 35.15
Including 393.00 399.00 6.00 5.16 30.98
PE-21-432 240.00 256.00 16.00 5.77 92.27 200
Including 240.00 241.50 1.50 59.97 89.96
PE-21-395 424.50 560.00 135.50 0.63 85.50 380-490
Including 424.50 438.00 13.50 3.47 46.86
PE-21-415 465.00 531.60 66.60 1.28 85.05 430-480
Including 528.00 529.50 1.50 34.22 51.33
PE-21-352 143.70 233.00 89.30 0.82 73.49 120-180
PE-21-359 115.75 154.50 38.75 1.25 48.52 100-125
And 178.50 182.70 4.20 2.14 9.00 150
PE-21-451 154.50 162.50 8.00 2.75 21.99 120
PE-21-424 554.50 568.50 14.00 1.18 16.52 500
PE-21-388 376.50 379.50 3.00 4.21 12.63 320
And 490.65 501.00 10.35 3.25 33.65 425
PE-21-416 223.00 248.00 25.00 1.02 25.50 200
And 318.00 333.00 15.00 1.34 20.15 270
PE-21-372 228.60 238.50 9.90 0.73 7.26 175
PE-21-377 310.50 315.00 4.50 1.48 6.66 250
PE-21-35EXT 391.00 410.50 19.50 0.50 9.79 360
And 469.70 473.20 3.50 10.68 37.37 420
PE-21-429 216.2 222 5.8 1.01 5.86 175
And 316.5 334.7 18.2 0.301 5.48 250
PE-21-447 678.55 680.00 1.45 1.59 2.31 600
PE-21-118EXT 382.2 387.25 5.05 0.372 1.88 300

 

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PE-22-468 211.60 252.90 41.30 0.88 36.39 165-195 Eastern Denise Zone
Including 238.00 252.90 14.90 1.50 22.41
PE-22-480 140.30 159.40 19.10 0.83 15.78 105-120
Including 140.30 140.80 0.50 19.64 9.82
PE-22-460 311.50 312.00 0.50 29.87 14.94 245
And 341.70 348.00 6.30 1.10 6.90 260
PE-22-493 335.70 348.60 12.90 0.93 11.96 255
PE-22-472W1 412.90 414.60 1.70 7.10 12.07 340
Including 413.40 414.10 0.70 13.11 9.18
PE-22-465 333.00 357.00 24.00 0.45 10.78 235-250
PEX-21-061 447.90 470.05 22.15 0.45 9.92 280
163-15-021* 215.40 220.90 5.50 1.70 9.33 150
163-15-018* 356.50 366.00 9.50 0.43 4.04 260

 *Historical drill holes

Qualified Person
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 in this news release. 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 protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

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.

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Gold investing update - Amex Exploration announces a $49.6 million bought deal private placement, the largest financing in the history of the company.

Montreal, Quebec--(Newsfile Corp. - February 17, 2022) - Amex Exploration Inc. (TSXV: AMX) ("Amex" or the "Company") is pleased to announce the closing of the previously announced "bought deal" private placement in the amount of $49,609,850 (the "Offering"), led by PI Financial Corp., on behalf of a syndicate of underwriters, including Haywood Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc. and iA Private Wealth Inc. (together, the "Underwriters"). In connection with the Offering, the Company has issued a total of 10,295,500 common shares on a flow-through basis (each, a "FT Share"), at a price of $4.82 per FT Share of which, 1,342,500 FT Shares were issued following the exercise of the Underwriters 15% over allotment option.

Victor Cantore, President and CEO of Amex commented, "This is the largest financing in the history of the Company that significantly strengthens our treasury and funds a very aggressive exploration program, for which Amex has become known in the industry. Last year we put 94% of our dollars spent to work in exploration and we have been rewarded with significant expansion of our known gold zones as well as new gold and VMS discoveries on the Perron property. 100% of the money raised from this financing will be put into our exploration program to build a substantial resource at Perron."

The FT Shares issued in connection with the Offering will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec). The gross proceeds from the sale of the FT Shares will be used for general exploration expenditures on the Company's properties located in Quebec. The FT Shares under the Offering are subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The Offering is subject to receipt of all necessary regulatory and other approvals, including final approval of the TSX Venture Exchange.

In connection with the Offering, the Underwriters received an aggregate cash commission of $2,238,591.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions of Quebec and Ontario. Amex is focused on its 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,560 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 gold project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and Ontario.

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 use of proceeds from the Offering as described herein 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 obtain any necessary regulatory approvals, the termination of any agreement governing the Offering, 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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Amex Exploration is expanding their High Grade Zone along strike, and reports new drill results from their gold mine exploration at their Perron property.

Highlights include:

  • Western (shallow) High Grade Zone
    • PE-21-366W1 returned 78.62 g/t Au over 5.90 m including 908.50 g/t Au over 0.50 m at a vertical depth of 630 m
    • PE-21-405 returned 43.74 g/t Au over 6.80 m including 583.34 g/t Au over 0.50 m at a vertical depth of 300 m
    • PE-21-410W1 returned 21.86 g/t Au over 5.56 m including 107.94 g/t Au over 1.05 m at a vertical depth of 630 m
    • PE-21-438 returned 123.53 g/t Au over 0.50 m at a vertical depth of 500 m
    • PE-21-452 returned 5.65 g/t Au over 9.95 m at a vertical depth of 360 m
  • Eastern (deeper) High Grade Zone
    • PE-21-404W2 returned 35.89 g/t Au over 6.75 m at a vertical depth of 940 m
    • PE-21-440W1 returned 16.66 g/t Au over 9.10 m including 160.04 g/t Au over 0.50 m and 96.79 g/t Au over 0.70 m at a vertical depth of 510 m
    • PE-21-404W1 returned 13.54 g/t Au over 10.50 m at a vertical depth of 980 m
    • PE-21-380 returned 16.18 g/t Au over 6.80 m including 134.92 g/t Au over 0.70 m at a vertical depth of 460 m
    • PE-21-412 returned 14.85 g/t Au over 5.00 m at a vertical depth of 330 m
    • PE-21-436 returned 29.80 g/t Au over 2.05 m at a vertical depth of 600 m

Montreal, Quebec--(Newsfile Corp. - February 8, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 34 drill holes focused on the expansion and definition of gold mineralization on High Grade Zone ("HGZ") of the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of the eastern portion of Perron and currently known mineralized zones including the HGZ. A complete list of results is available in Tables 1 & 2 and presented in Figures 2, 3, & 4.

Today's results consist of drill holes focused largely on expansion and definition of both the Eastern (deeper) and Western (shallower) portions of the HGZ. The HGZ now stands at more than 300 m along strike to a depth of 1,200 m. On the Western portion, as shown in Figures 2 & 3, Amex targeted on-strike expansion as well as infilling the lower portions of the zone, which resulted in a significantly increased strike length as indicated by holes PE-21-439 and PE-21-441 as well as an increase of grade as indicated by holes PE-21-405, PE-21-444, PE-21-438, PE-21-366W1, and PE-21-410W1. On the Eastern portion, as shown in Figures 2 & 4, Amex completed definition drilling within the core of the zone as well as on-strike expansion towards the late-stage diabase dike as indicated by holes PE-21-412, PE-21-419, PE-21-426, PE-21-380, PE-21-380W1, PE-21-442, and PE-21-417W2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "As one can clearly see from the new longitudinal section, this batch of drill holes significantly expands the strike and the high grade core of the HGZ with a metal factor of more than 50 (g/t Au x core length in metres). As we tighten the drill spacing, we see the Western (shallower) zone developing a much higher grade profile than previously thought. We are also seeing a much larger envelope of gold mineralization surrounding the high-grade central core of the zone than previously thought. On the Eastern (deeper) portion of the zone, we are seeing consistent high-grade mineralization essentially from the top of the Eastern portion (~325 vertical metres) to the bottom of the defined area (~1,200 vertical metres) and are also expanding the horizontal footprint of the zone."

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Figure 1: Plan view of the geology of the eastern portion of the Perron Project and known mineralized zones, including the HGZ, Denise, E2, Donna, E3, Upper HGZ, 210, and the QF VMS.

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Figure 2: Longitudinal Section of the HGZ Zone, with today's released hole locations in green.

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Figure 3: Western Upper HGZ Longitudinal Section, with today's released hole locations in green.

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Figure 4: Eastern Lower Portion HGZ Longitudinal Section, with today's released hole locations in green.

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Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical
Depth
(m)
Gold
Metal
Factor
(g/t*m)
Western HGZ PE-21-366W1 702.70 708.60 5.90 78.62 630.00 463.85
Including 702.70 703.20 0.50 908.50 454.25
PE-21-405 324.00 330.80 6.80 43.74 300.00 297.40
Including 325.00 325.50 0.50 583.34 291.67
PE-21-410W1 704.35 710.00 5.65 21.86 630.00 123.49
Including 704.35 705.40 1.05 107.94 113.34
PE-21-438 536.80 537.30 0.50 123.53 500.00 61.77
PE-21-452 391.90 401.85 9.95 5.65 360.00 56.21
Including 399.60 401.85 2.25 19.35 43.55
PE-21-444 467.80 482.00 14.20 3.51 455.00 49.88
Including 479.80 482.00 2.20 17.68 38.90
PE-21-450 435.15 441.10 5.95 6.77 395.00 40.27
Including 435.15 435.90 0.75 33.44 25.08
And 440.50 441.10 0.60 21.83 13.10
PE-21-424 392.50 400.80 8.30 2.60 360.00 21.55
PE-21-441 126.50 152.20 25.70 0.58 135.00 14.83
PE-21-439 150.50 152.00 1.50 9.50 135.00 14.26
PE-21-445 477.30 481.00 3.70 3.66 440.00 13.55
Including 478.60 479.10 0.50 15.71 7.86
PE-21-296 65.90 75.00 9.10 0.73 55.00 6.65
PE-21-396 796.90 804.40 7.50 0.77 720.00 5.78
PE-21-291 116.90 120.00 3.10 1.71 100.00 5.30
PE-21-401 233.65 240.00 6.35 0.70 210.00 4.43

 

Table 1: Results from the Western (shallower) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.

Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Gold
Metal
Factor
(g/t*m)
Eastern HGZ PE-21-404W2 1043.00 1049.75 6.75 35.89 940.00 242.28
Including 1044.45 1045.00 0.55 90.70 49.88
And 1048.10 1049.25 1.15 163.29 187.78
PE-21-440W1 553.40 562.50 9.10 16.66 510.00 151.59
Including 553.40 553.90 0.50 160.04 80.02
And 561.80 562.50 0.70 96.79 67.75
PE-21-404W1 1075.50 1086.00 10.50 13.54 980.00 142.14
Including 1075.50 1076.50 1.00 52.95 52.95
And 1081.40 1083.50 2.10 40.48 85.01
PE-21-380 522.00 528.80 6.80 16.18 460.00 110.02
Including 522.00 522.70 0.70 134.92 94.44
And 528.00 528.80 0.80 17.75 14.20
PE-21-412 415.00 420.00 5.00 14.85 330.00 74.23
Including 418.75 419.50 0.75 89.62 67.22
PE-21-436 651.00 653.05 2.05 29.80 600.00 61.09
PE-21-417W2 808.65 815.05 6.40 5.77 710.00 36.90
Including 814.55 815.05 0.50 47.97 23.99
PE-21-434 1156.9 1163.1 6.20 4.87 1070.00 30.21
PE-21-434W1 1146 1153.45 7.45 2.83 1060.00 21.10
Including 1147.5 1148 0.50 32.24 16.12
PE-21-442 682.90 697.50 14.60 1.46 630.00 21.29
PE-21-426 475.10 483.00 7.90 2.31 405.00 18.26
Including 482.00 483.00 1.00 14.54 14.54
PE-21-440 528.25 531.05 2.80 5.43 480.00 15.21
Including 695.20 697.50 2.30 4.86 11.18
PE-21-380W1 504.00 506.10 2.10 6.51 435.00 13.68
PE-21-419 415.00 419.95 4.95 2.06 330.00 10.21
PE-21-400W1 433.70 435.50 1.80 4.48 360.00 8.06
Including 434.80 435.50 0.70 11.04 7.73
PE-21-417W1 794.30 803.20 8.90 0.88 700.00 7.81
PE-21-318W2 1190.50 1195.50 5.00 0.85 1100.00 4.24
PE-21-318W1 1194.95 1197.70 2.75 0.96 1100.00 2.64
PE-21-426W1 457.45 458.95 1.50 0.63 380.00 0.95

 

Table 2: Results from the Eastern (deeper) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.

Qualified Person

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 in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard sample. For both laboratories, gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. 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. Core logging and sampling were completed by Laurentia Exploration. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Persons believe 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/113052

 

Amex Exploration is pleased to announce a gold stock investing update. Due to strong investor demands, private investors are increasing their previous bought deal placement.

TORONTO, January 18, 2022 - Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX)”) is pleased to announce that due to strong investor demand, the Company has entered into an amendment agreement with PI Financial Corp. (“PI Financial”), pursuant to which to which a syndicate of underwriters led by PI Financial (collectively, the "Underwriters") have agreed to increase the size of the previously announced bought deal private placement to an aggregate of 8,950,000 flow-through shares (the “Flow-Through Shares”) at a price per Flow-Through Share of C$4.82 (the “Issue Price”), for gross proceeds of C$43,139,000 (the "Offering").

The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).

The Company has also granted the underwriters an option to purchase up to an additional 15% Flow-Through Shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 

The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Amex’s properties located in Quebec.

The Offering is scheduled to close on or about February 17, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 statements which may constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws, including statements regarding the completion of the Offering and the use of proceeds. 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 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 obtain any necessary regulatory approvals, the termination of the agreement governing the Offering, 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.

 
 

Amex Exploration is pleased to announce a financing update: They have a 33.7 million bought deal private placement from PI Financial Corp.

TORONTO, January 17, 2022 - Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX) is pleased to announce that it has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 7,000,000 flow-through common shares (the “Flow-Through Shares”) of the Company, at a price per Flow-Through Share of $4.82 (the “Issue Price”), for gross proceeds of C$33,740,000 (the "Offering").

The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).

The Company has also granted the underwriters an option to purchase up to an additional 15% Flow-Through Shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 

The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Amex’s properties located in Quebec.

The Offering is scheduled to close on or about February 15, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 statements which may constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws, including statements regarding the completion of the Offering and the use of proceeds. 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 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 obtain any necessary regulatory approvals, the termination of the agreement governing the Offering, 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.

 

Gold mine exploration company Amex Exploration is pleased to provide a review of 2021 accomplishments and gold mine exploration plans for 2022.

Montreal, Quebec--(Newsfile Corp. - January 5, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to provide a review of its 2021 accomplishments and exploration plans and goals for 2022.

On the corporate front, the Company ended the year in a strengthened financial position with the full exercise of all remaining warrants, adding $7 million to the treasury, demonstrating continued shareholder support and confidence. Additionally, Amex Exploration was named to 2021 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX. As part of its ongoing focus on Environmental, Social, and Governance (ESG), Amex strengthened the Board of Directors through the appointment of Bryan Coates as Lead Independent Director and election of Dr. Luisa Morena as Independent Director.

On the exploration front, the drill bit continued to add value throughout 2021 (see Figure 1 and Table 1). Additional highlights from the year included:

  • Three significant new discoveries were made on the Perron property.
    • A copper rich volcanogenic massive sulfide (VMS) discovery (QF Zone) was made along the Normétal Mine Horizon where the company intersected 2.40% Cu, 0.72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m. Follow up drilling has confirmed the initial discovery with similar grades and widths, indicating the presence of a substantial VMS system. Defining and expanding upon this system will be a part of the exploration program in 2022.
    • A new high-grade gold structure located 650 m north-west of the High Grade Zone (HGZ), the Alizee Zone, returning 31.87 g/t Au over 5.10 m.
    • An additional high-grade gold structure, the 210 Gold Zone, was discovered on the Normétal Fault, with the discovery interval returning 58.25 g/t Au over 3.90 m.
  • The Denise Gold Zone surpassed expectations showing large zones of broad near-surface gold mineralization and continuity. The Denise Zone has now been defined to a depth of 700 m and 500 m along strike and the geology indicates probability to expand to the east near surface.
  • At the High Grade Zone (HGZ) Amex demonstrated exceptional high-grade gold continuity down to a depth of 1.35 km. The Company also reported the highest grade individual assay at Perron of 929.24 g/t Au over 0.50 m at a depth of 290 m in hole PE-21-344.

Table 1 - Top 20 drill holes announced in 2021 based on gold metal factor

Hole ID From (m) To (m) Length (m) Au (g/t) Zone Metal Factor (g*m)
PE-21-386W1 939 945.1 6.1 102.07 HGZ 622.6
PE-21-344 320.8 326.95 6.15 79.22 HGZ 487.2
PE-21-329 228.9 242 13.1 36.86 HGZ 482.9
PE-21-391 213.9 219.5 5.6 84.02 HGZ 470.5
PE-21-337 255.2 300 44.8 8.25 Denise 369.6
PE-21-367 211.1 226 14.9 21.75 HGZ 324.1
PE-21-409 374.9 381.8 6.9 43.74 HGZ 301.8
PE-21-313 180 183.9 3.9 70.92 HGZ 276.6
PE-21-383W1 538.5 542 3.5 76.61 HGZ 268.1
PE-21-318 1207.15 1215.55 8.4 29.62 HGZ 248.8
PE-21-301 1054.4 1063.25 8.85 27.06 HGZ 239.5
PE-21-392 297.5 304.05 6.55 36.02 HGZ 235.9
PE-21-287 1175.8 1182 6.2 37.59 HGZ 233.1
PE-20-210 108.8 112.7 3.9 58.25 210 227.2
PE-21-338 201.4 216.25 14.85 15.18 HGZ 225.4
PE-21-321 149.6 156 6.4 32.91 HGZ 210.6
PE-21-413 338.2 340 1.8 102.43 HGZ 184.4
PEX-21-041 288.6 293.7 5.1 31.87 Alizee 162.5
PE-20-230 634.1 642.5 8.4 17.89 HGZ 150.3
PE-20-207W2 902.5 907 4.5 32.99 HGZ 148.5

 

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Figure 1 - Gold Corridor at Perron ending 2021. White arrows represent near-term expansion targets. Pink spheres represent individual assays better than 20 g/t Au.

To view an enhanced version of Figure 1, please visit:
images/news/2022/January/109025_a3e9da7a14404986_002full.jpg

In 2021, the Company completed a total of 129,310 m of drilling. The focus was on the expansion and definition drilling of HGZ and near surface, on strike expansion and definition drilling of the Denise Zone as well as regional exploration drilling. There are currently a number of pending samples at two labs from holes targeting the HGZ, Denise, QF and Grey Cat Zone, as well as regional exploration drilling.

Exploration Plans and Corporate Goals for the coming year

  • Test the expansion potential of the Denise Zone along strike for up to 1.5 km to the east, where limited drilling has occurred and gold mineralization has been encountered.
  • Continue to define the HGZ to a resource level to a depth of approximately 1 km.
  • Further define and explore the QF VMS Zone.
  • Report on regional exploration program and determine potential to make additional gold and VMS discoveries on Perron.
  • Complete a maiden resource on the Perron Project in H2.
  • Set and report on ESG goals for 2022 with a report to be produced during the year.

Qualified Person

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 in this news release. 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 protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Base metal and gold analysis are provided by ALS Canada Ltd. with similar QAQC protocol. 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. Core logging and sampling were completed by Laurentia Exploration. The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Persons believe 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/109025

 
 

Amex Exploration is annoucing regional exploration program updates for their gold mine exploration, including 58 drill holes focusing on new areas of gold mineralization on their Perron Property.

Highlights include:

  • 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

Montreal, Quebec--(Newsfile Corp. - January 11, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 58 drill holes focused on new areas of gold mineralization on the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of Perron and all currently known mineralized zones.

Today's results are focused on a number of new discoveries of gold and copper as well as follow-up drilling on the previously announced 210 (February 17, 2021) and Alizee (January 25, 2021) Gold Zones. These results represent regional exploration drilling as well as mineralization identified up-hole during definition and expansion drilling of known gold zones on the Perron Project. A complete list of results is available in Tables 1 through 7 and presented in Figures 1 through 4. All drilling data for the Perron project, including collar, survey, and individual assays, is available in the Amex data room at https://amexexploration.com/properties/quebec-exploration-perron-property/drill-data-room. In addition to the results presented below, Amex also announces that drilling has resumed on January 3rd with 8 drills currently operating across the Project with plans to expand to up to 11 drills during the winter months.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "The Perron project has historically shown a strong gold signature within the Beaupre Rhyolite Block. The results presented today further validate the gold potential of the entire Beaupre area and we are seeing gold mineralization occurring in a variety of orientation and mineralization styles. This further confirms our expectations that as we continue to advance our exploration of this strongly endowed gold system, we will continue to make additional gold discoveries and expand upon the known mineralized horizons."

Trottier continued, "The E2 Gold zone is of great significance for Amex as it has the potential to add ounces per vertical metre in close proximity to the High Grade Zone. As we have seen at the High Grade Zone we are hopeful that the strike and grade will increase at E2 as we get deeper into the system. Our regional exploration program has been a complete success by any measure and the areas highlighted in this release all warrant follow-up work."

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Figure 1: Plan view of the geology of the Perron Project and all known mineralized zones, including the new zones announced today in red text.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2667/109603_c2b275c57429399d_002full.jpg

E2 Gold Zone

The E2 Gold zone ("E2") represents one of the most significant new discoveries on the Perron Project since the discovery of the High Grade Zone ("HGZ") in 2018 (Figure 2). The E2 zone was discovered by stepping out to the East along the same structure that hosts the bonanza mineralization of the HGZ. Mineralization identified to date is very similar to the HGZ, with a repetition of a mineralized hanging wall vein, a largely unmineralized narrow mafic sill, and a mineralized footwall vein. Sulfide minerals are also very similar, with sphalerite being the most common sulfide associated with gold mineralization, along with lesser pyrite. Visible gold has been identified in several drillholes. Of particular importance is the projected plunge of the mineralization. The E2 zone is situated approximately 500 metres to the East of the HGZ, and the projected plunge of mineralization (based on drillholes to date) appears to be similar to that of the HGZ, plunging to the East-Northeast at approximately ~70 degrees (Figure 3). This is important as it represents a possible repeating ore shoot along the same structure as the HGZ. Expanding upon the E2 zone and testing its down-plunge grade and continuity is one of Amex's top priorities for the ongoing winter drilling program.

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Figure 2: Plan view of the geology of the Eastern Gold Zone to E3 Gold Zone and all known mineralized zones, including the new zones announced today.

To view an enhanced version of Figure 2, please visit:
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Figure 3: Longitudinal section of the HGZ and E2 Gold Zone, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

To view an enhanced version of Figure 3, please visit:
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Table 1: Assay results from the new E2 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
E2 PEX-20-034 150.00 163.85 13.85 5.58 77.28
including 151.40 151.95 0.55 136.02 74.81
PEX-21-066 226.25 234.70 8.45 4.54 38.34
including 228.30 228.80 0.50 70.00 35.00
and 97.50 98.00 0.50 23.30 11.65
PEX-21-062 295.45 297.55 2.10 5.08 10.67
PEX-21-078 79.50 80.20 0.70 12.30 8.61
PEX-21-061 148.50 157.30 8.80 0.77 6.81
PEX-21-077 86.90 91.00 4.10 1.21 4.96
PEX-21-079 56.95 58.40 1.45 3.38 4.90
PEX-20-032 177.25 178.30 1.05 4.34 4.55
PEX-20-031 169.40 169.90 0.50 5.01 2.51
PEX-20-035 205.80 206.80 1.00 1.44 1.44

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Gold-Copper Donna Zone

The Gold-Copper Donna Zone ("Donna") discovery occurs immediately north of the HGZ at depth (Figure 2). It was discovered during deep expansion drilling of the HGZ. The mineralization identified, which is similar in each of the three holes reported, consists of highly chlorite-garnet-amphibole altered rhyolite which hosts centimetre-scale stringers of chalcopyrite-pyrrhotite. The correlation between gold and copper is quite strong. Amex has completed a borehole electromagnetic survey on this new discovery and is planning follow-up drilling to be completed in the coming months.

Table 2: Assay results from the new Gold-Copper Donna Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Cu (%) Gold Metal Factor (g/t*m)
Donna PE-21-318W1 1123.00 1179.00 56.00 1.37 0.25 76.72
including 1141.50 1156.20 14.70 3.59 0.72 48.76
PE-21-318 1164.50 1193.70 29.15 0.79 0.24 23.03
PE-21-318W2 1153.50 1169.50 16.00 0.89 0.20 14.24

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Alizee Gold Zone

The Alizee Gold Zone ("Alizee") was previously announced as a discovery by Amex on January 25, 2021 with hole PEX-21-041 returning 22.44 g/t Au over 7.30 m. The results below are from follow-up drilling on the discovery hole (Figure 1). Gold mineralization at Alizee is associated with quartz veining, quartz-carbonate breccias, silica flooding and strong chlorite-carbonates-biotite alterations, along with sphalerite, pyrite, trace chalcopyrite, and occasionally visible gold. Amex is reviewing the data and planning follow-up drilling to be completed in the coming months.

Table 3: Assay results from follow-up drilling of the Alizee Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
Alizee PEX-21-049 180.85 183.50 2.15 7.62 16.38
PEX-21-045 286.00 287.50 1.50 2.05 3.08
PEX-21-040 319.00 319.60 0.60 1.71 1.03

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

E3 Gold Zone

The E3 Gold Zone ("E3") was discovered during regional drilling to the East of the HGZ, similar to the E2 zone (Figure 1). Amex completed systematic step out drilling along the structural corridor that hosts the Eastern Gold Zone which resulted in the discovery of the E3 zone, which is approximately 800 metres east of the HGZ (Figure 2). Gold mineralization is typical to that of Perron. Gold is hosted within quartz veins and veinlets in the altered Beaupre rhyolite, and associated with red sphalerite and pyrite mineralization.

Table 4: Assay results from the new E3 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
E3 PEX-20-003 76.00 109.80 33.80 0.75 25.35
including 108.30 109.80 1.50 12.51 18.77
PEX-20-024 176.00 176.50 0.50 10.47 5.24

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

210 Gold Zone

The 210 Gold Zone ("210") is located proximal to and south of the northern Normetal fault zone, which is one of two kilometric thrust faults located on the Perron project (Figures 1 and 2). The 210 zone was originally announced as a discovery on February 17, 2017 with hole PE-20-210 returning 58.25 g/t Au over 3.90 m. The below announced holes represent follow-up drilling to this discovery hole. The identified mineralization is located approximately 650 m north-east of the HGZ in an area that has seen limited exploration. Conveniently, Amex is able to test the near-surface portion of the 210 zone during deep definition drilling of the HGZ owing to its location. Gold mineralization is hosted within quartz veining in sodic rhyolite of the Beaupre Block.

Table 5: Assay results from follow-up drilling of the 210 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
210 PE-20-229 95.90 115.40 19.50 1.12 21.84
including 95.90 96.65 0.75 12.13 9.10
PE-21-280 88.50 97.50 9.00 2.39 21.51
including 96.25 97.50 1.25 14.28 17.85
PE-21-301 69.00 84.00 15.00 0.82 12.30
PE-21-272A 67.15 67.65 0.50 18.45 9.23
PE-20-219 106.50 108.00 1.50 4.29 6.44

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Upper High Grade Zone

The Upper High Grade Zone ("UHGZ") is situated approximately 200 metres north of the HGZ (Figures 2 and 4). Of interest is the orientation of the UHGZ, which trends to the West-Northwest, at an angle of approximately 30 degrees away from the orientation of the HGZ. The UHGZ is often hosted by or proximal to a swarm of narrow mafic sills/dikes, and mineralization is associated with quartz veining, pyrrhotite, pyrite, sphalerite, and visible gold mineralization. Owing to its location and proximity to the HGZ, Amex is able to continue testing the UHGZ through its definition and expansion drilling program on the HGZ.

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Figure 4: Longitudinal section of the Upper HGZ, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 65-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Table 6: Assay results from the new Upper High Grade Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
UHGZ PE-20-207W1 643.75 644.80 1.05 18.79 19.73
PE-20-190 625.00 642.20 17.20 1.01 17.37
including 626.00 626.50 0.50 12.94 6.47
and including 641.70 642.20 0.50 14.81 7.41
PE-21-347 777.65 778.15 0.50 31.33 15.67
PE-20-186 116.80 120.00 3.20 4.41 14.12
including 117.30 117.80 0.50 26.02 13.01
PE-21-386W1 603.80 604.30 0.50 27.87 13.94
PE-20-186A 105.30 108.80 3.50 4.08 14.28
including 106.80 107.30 0.50 24.65 12.33
PE-21-287 972.90 989.50 16.60 0.82 13.61
including 972.90 973.50 0.60 13.32 7.99
PE-21-347W1 822.80 823.40 0.60 20.37 12.22
PE-21-287W1 960.25 980.60 20.35 0.57 11.60
including 960.25 960.75 0.50 10.97 5.49
PE-21-301W2 808.50 815.10 6.60 1.64 10.82
including 809.35 809.85 0.50 15.43 7.72
PE-20-178 521.65 522.15 0.50 21.10 10.55
PE-20-197 875.25 891.70 16.45 0.53 8.72
PE-20-224W2 519.15 520.15 1.00 7.84 7.84
PE-21-347W2 773.50 774.00 0.50 13.84 6.92
and 823.50 824.00 0.50 13.03 6.52
PE-21-404 827.00 831.50 4.50 1.27 5.72
PE-21-300 558.50 559.00 0.50 11.00 5.50
PE-20-226 103.50 106.00 2.50 2.12 5.30
PE-21-272 731.20 731.70 0.50 9.99 5.00
PE-21-294 387.10 587.60 0.50 9.35 4.68
PE-21-301W1 810.55 811.20 0.65 7.11 4.62
and 844.20 844.70 0.50 6.51 3.26
PE-20-171 452.00 452.50 0.50 9.21 4.61
PE-20-190W1 610.70 611.20 0.50 6.45 3.23
PE-20-185 768.50 769.00 0.50 6.44 3.22
PE-20-197W2 809.45 812.50 3.05 1.05 3.20
PE-20-207W2 583.50 584.00 0.50 5.45 2.73
PE-21-434 914.90 915.40 0.50 4.51 2.26
PE-21-417 394.90 395.45 0.55 3.33 1.83
PE-20-231 38.85 39.60 0.75 2.38 1.79
PE-21-404W1 828.20 828.70 0.50 3.40 1.70
PE-21-301 808.20 808.70 0.50 3.25 1.63
and 838.00 838.50 0.50 4.32 2.16
PE-21-248W1 493.60 494.10 0.50 1.91 0.96
PE-21-404W2 815.00 815.50 0.50 1.63 0.82

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Regional Drilling at Western Perron

Amex has identified several new areas of gold mineralization in the western portion of the Beaupre block, in which very limited drilling has occurred historically due to limited access. The results presented below indicate the gold potential in the western block, and Amex plans to follow up on the below as well as test additional gold targets.

Table 7: Assay results from the regional drilling at Western Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
West Regional PEX-21-054 94.00 98.50 4.50 3.18 14.31
PEX-21-065 80.50 83.80 3.30 2.56 8.45
PEX-20-011 200.10 201.80 1.70 3.09 5.25
including 201.30 201.80 0.50 8.52 4.26

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Qualified Person

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 in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard sample. For both laboratories, gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. 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. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. Core logging and sampling were completed by Laurentia Exploration. The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Persons believe 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.

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