13:31:06 EDT Mon 27 Jun 2022
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Amex Exploration Inc (2)
Symbol AMX
Shares Issued 103,243,001
Close 2022-06-15 C$ 1.95
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Amex drills 15.85 m of 15.52 g/t Au at Perron

2022-06-16 08:21 ET - News Release

Dr. Jacques Trottier reports


Amex Exploration Inc. has released 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. 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 grams per tonne gold over 15.85 metres, including 198.36 g/t Au over 1.2 m, in hole PE-22-511W3 at a vertical depth of 750 m;
  • 11.27 g/t Au over 11 m, including 203.72 g/t Au over 0.5 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 the expansion of known zones of mineralization through much of the 2022 drilling program. This drilling targeted the margins of the known gold mineralization outside of the main core of the HGZ that regularly delivers multiounce 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 and PE-22-511W3, which returned very high assay values 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.

Dr. 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."

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

Qualified persons

Maxime Bouchard, PGeo, MScA (OGQ No. 1752), and Dr. Jerome Augustin, PGeo, PhD (OGQ No. 2134), both of whom are independent qualified persons as defined by National Instrument 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality assurance/quality control program have been planned and supervised by Mr. Bouchard and Dr. Augustin. The quality assurance/quality control protocol included the insertion of a blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate and standard samples accredited by Laboratoire Expert Inc. during the analytical process. Gold values are estimated by fire assay with an atomic absorption finish, and values over three parts per million gold are reanalyzed by fire assay with a gravimetric finish by Laboratoire Expert in Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance/quality control, all samples were crushed to 90 per cent passing fewer than two millimetres prior to pulverization in order to homogenize samples that may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

About Amex Exploration Inc.

Amex Exploration 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-per-cent-owned Perron gold project, located 110 kilometres north of Rouyn-Noranda, Que., 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.

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