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Amex Exploration Inc (2)
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Shares Issued 103,243,001
Close 2022-06-17 C$ 1.95
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Amex Exploration drills 6.4 m of 2.86% CuEq at Perron

2022-06-20 08:28 ET - News Release

Dr. Jacques Trottier reports


Amex Exploration Inc. has released assay results from new follow-up drill holes on the copper-rich volcanogenic massive sulphide (VMS) QF zone. The QF zone occurs along the Normetal mine horizon, which is a kilometric, tuffaceous unit that hosts the nearby, past-producing Normetal mine.

Highlights include:

  • PEX-21-083W1 intersected 2.86 per cent copper equivalent, comprising 2.17 per cent copper, 0.9 per cent zinc, 0.28 gram per tonne gold and 18.84 grams per tonne silver, over 6.4 metres, including 4.81 per cent CuEq, comprising 4.25 per cent Cu, 0.18 per cent Zn, 0.36 g/t Au and 32.44 g/t Ag, over 1.6 m, at a vertical depth of approximately 570 m.
  • PEX-22-108 intersected 2.08 per cent CuEq, comprising 1.84 per cent Cu, 0.17 per cent Zn, 0.13 g/t Au and 11.77 g/t Ag, over 7.1 m, including 6.08 per cent CuEq, comprising 5.43 per cent Cu, 0.27 per cent Zn, 0.4 g/t Au and 35.39 g/t Ag, over 1.9 m, at a vertical depth of approximately 560 m.
  • PEX-21-098W2 intersected 6.03 per cent CuEq, comprising 5.37 per cent Cu, 0.39 per cent Zn, 0.36 g/t Au and 33.58 g/t Ag, over 2.2 m at a vertical depth of approximately 610 m.

The QF zone grades and widths compare favourably with the neighbouring Normetal mine, which produced approximately 10.1 million tonnes grading 2.24 per cent Cu, 5.41 per cent Zn, 0.53 g/t Au and 44.45 g/t Ag from 1937 to 1975, with development down to a depth of approximately 2.4 kilometres.

Dr. 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 per cent over a thickness of approximately four to five metres. 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 Normetal."

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. Core logging and sampling were completed by Laurentia Exploration. The quality assurance/quality control protocol included the 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 to 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 multielement inductively coupled plasma-atomic emission spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1 per cent, copper values over 1 per cent and silver values over 100 grams per tonne are estimated by four-acid digestion ICP-AES, OG62. The qualified persons have not completed sufficient work to verify the historical information on the property, particularly in regard 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 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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