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Amex Reports Near Surface and High-Grade Gold at Grey Cat and Gratien Gold Zones

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Amex Reports Near Surface and High-Grade Gold at Grey Cat and Gratien Gold Zones

 

 

 

 

 

Amex Exploration Inc. (TSX-V: AMX) (FRA: MX0) (OTCQX: AMXEF) is very pleased to report the results of several drill holes on its Perron property in northwestern Quebec, Canada (see figure 1). A select list of results is provided in table 1. Amex provides all drill data on its website at http://www.amexexploration.com/perron/drill-data-room/. The drill results include intersections from the Grey Cat Zone and Gratien Gold Zone.

 

Mr. Victor Cantore, President and CEO of Amex Exploration said, “Roughly one year following the discovery of the Eastern Gold Zone, we have transformed this property from one very high grade gold target to three separate gold zones spread over 3.2 km. Based on our exploration to date we believe each of these zones has the potential to be robust gold deposits as they are open to depth and along strike. Today I am very pleased to be reporting results from our two western targets. The western section of the property is a highly underexplored and we believe the potential there is vast. Of course, the Eastern Gold Zone is continuing to deliver exceptional drill core and I am keen to report those results in the coming weeks.”

 

At Grey Cat, the Company has identified near-surface gold over substantial widths, including up to 2.19 g/t Au over 23.60 m, including 15.45 g/t Au over 1.50 metres and 33.19 g/t Au over 0.60 metre, beginning at 20 metres below surface in hole PEG-19-125. This interval contained several zones of quartz veining and associated mineralization including visible gold, spread throughout the 23.60 m zone. The interval also expanded the near-surface strike length by 50 m. The Grey Cat Zone gold system is now defined to a minimum of 160 m along strike and to a vertical depth 435 m and remains open in all directions.

 

“The Grey Cat Zone is definitely a bulk tonnage target and our current drilling is aimed at building near surface ounces in that zone,” commented Jacques Trottier PhD, Executive Chairman of the Board of Directors of Amex Exploration. “In addition, our drilling has identified high-grade mineralization within the overall Grey Cat system. The Grey Cat has seen relatively little drilling and is already showing excellent potential. I am personally very excited by the significant depth extension potential as well as extension of the zone to the west.” 

 

At Gratien, the Company continues to expand and define the multiple stacked zones which include the Lower Gratien, Gratien Main and Upper Gratien Zones. To date, the Gratien system has been defined over one kilometre of strike, with individual lenses ranging between 150 and 400 metres in strike length. The system remains open at depth and has mostly been tested to a maximum depth of 200 metres. Gratien Main results include 19.63 g/t Au over 2.25 metres including 86.35 g/t Au over 0.50 metres at a vertical depth of ~75 metres in hole PEG-20-130. In the Upper Gratien zone, results include 9.81 g/t Au over 1.30 metres including 17.90 g/t Au over 0.70 metres in Hole PEG-19-111. Further gold intercepts are reported below.

 

“The drilling at Gratien has been continually expanding the known stacked zones and helping us to better define the high grade lens within these zones,” Trottier said. “We are seeing a high grade lens right a surface in the Upper and Main Gratien. Expansion and definition of a robust gold zone is the focus of our drilling campaign at Gratien.”

 

Table 1: Assay results from Grey Cat and Gratien Gold Zones on the Perron project

 

 

BHID From (m) To (m) Length (m) Au (g/t) Zone
PEG-19-108 9.50 11.00 1.50 2.98 Upper Gratien
And 300.20 304.00 3.80 1.89 Gratien Main
Including 301.80 302.65 0.85 7.52 Gratien Main
PEG-19-111 84.10 86.90 2.80 1.68 Upper Gratien
And 116.70 118.00 1.30 9.81 Upper Gratien
And 159.00 165.00 6.00 0.72 Upper Gratien
And 224.00 229.00 5.00 0.51 Gratien Main
Including 225.00 225.50 0.50 1.18 Gratien Main
PEG-19-112 76.00 80.00 4.00 0.72 Upper Gratien
And 109.00 115.00 6.00 0.57 Upper Gratien
Including 113.00 113.70 0.70 1.78 Upper Gratien
And 222.30 223.70 1.40 1.76 Gratien Main
PEG-19-114 101.80 102.30 0.50 6.16 Upper Gratien
And 136.00 137.50 1.50 1.07 Upper Gratien
PEG-19-115 145.00 151.00 6.00 0.86 Western Gold Zone
Including 145.00 146.50 1.50 2.83 Western Gold Zone
And 166.50 167.50 1.00 1.84 Western Gold Zone
And 187.60 189.80 2.20 1.203 Western Gold Zone
Including 188.70 189.80 1.10 2.13 Western Gold Zone
And 211.70 212.70 1.00 1.05 Western Gold Zone
PEG-19-116 193.25 196.00 2.75 2.32 Western Gold Zone
Including 193.25 194.10 0.85 6.53 Western Gold Zone
And 213.50 215.00 1.50 3.08 Western Gold Zone
And 247.10 247.80 0.70 1.54 Western Gold Zone
PEG-19-117 229.00 238.00 9.00 0.63 Between Grey Cat & Western Gold Zone
Including 229.00 232.20 3.20 0.98 Between Grey Cat & Western Gold Zone
Including 229.00 230.20 1.20 1.04 Between Grey Cat & Western Gold Zone
Including 231.30 232.20 0.90 1.90 Between Grey Cat & Western Gold Zone
Including 237.10 238.00 0.90 2.20 Between Grey Cat & Western Gold Zone
And 250.00 251.50 1.50 1.30 Between Grey Cat & Western Gold Zone
And 313.50 317.80 4.30 1.21 Lower Grey Cat
And 426.50 430.60 4.10 0.99 Upper Gratien
Including 426.50 428.70 2.20 1.40 Upper Gratien
PEG-19-120 23.20 25.00 1.80 0.86 Upper Grey Cat
And 461.50 463.80 2.30 5.30 Upper Gratien
Including 463.00 463.80 0.80 13.03 Upper Gratien
PEG-19-123 143.50 145.60 2.10 0.78 Grey Cat
Including 145.10 145.60 0.50 2.56 Grey Cat
And 128.50 145.60 17.10 0.50 Grey Cat
And 251.00 302.50 51.50 0.46 Lower Grey Cat
PEG-19-124 156.00 157.50 1.50 3.31 Grey Cat
Including 157.00 157.50 0.50 9.43 Grey Cat
And 151.00 157.50 6.50 0.96 Grey Cat
PEG-19-125 25.40 49.00 23.60 2.19 Grey Cat
Including 36.00 49.00 13.00 1.81 Grey Cat
Including 43.30 49.00 5.70 3.68 Grey Cat
Including 48.40 49.00 0.60 33.19 Grey Cat
PEG-19-126 39.00 40.40 1.40 0.67 Grey Cat
PEG-20-127 No significant values Gratien Area Exploration
PEG-20-129 132.80 134.90 2.10 1.32 Gratien Main
Including 134.20 134.90 0.70 2.90 Gratien Main
And 164.00 165.80 1.80 1.42 Lower Gratien
PEG-20-130 107.25 109.50 2.25 19.63 Gratien Main
Including 108.35 108.85 0.50 86.35 Gratien Main
And 166.00 169.30 3.30 1.59 Lower Gratien
Including 168.20 169.30 1.10 4.32 Lower Gratien

* Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be 70 to 75% in Gratien Upper, 75 to 90% in Gratien Main, 65 to 75% in EGZ, and 70 to 75% in Grey Cat of the presented widths. NSR = No Significant Results

 

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.

 

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to the 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 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 116 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 Ontario.

 

Posted February 6, 2020

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