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Amex Exploration Inc (2)
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Close 2022-09-06 C$ 1.62
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Amex Exploration drills 14.8 m of 1.7% CuEq at Perron

2022-09-07 09:30 ET - News Release

Mr. Victor Cantore reports


Amex Exploration Inc. has released assay results from new follow-up drill holes on the copper-rich volcanogenic massive sulphide (VMS) QF zone located on Amex's 100-per-cent-owned Perron property. The QF Zone occurs along the Normetal Mine Horizon which is a kilometric tuffaceous unit that hosts the nearby past-producing Normetal 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 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 Normetal).

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."

Qualified Persons, Quality Assurance & Quality Control

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jerome 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 Jerome 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 Normetal (~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.

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