Mar 6 2019
Amex Exploration Inc. has announced that a considerably expanded drilling program has been initiated on the Eastern Gold Zone (“EGZ”) located at the Perron project (“Perron”).
In this significantly expanded exploration program, about 10,000 m of drilling will be carried out to test the lateral extensions and depth of the EGZ’s High-Grade Zone (“HGZ”). As a second priority, Amex Exploration Inc. will continue to test the nature and geometry of the parallel Low-Grade Zones (“LG1” and “LG2”), in addition to the High-Grade Zone.
Before the launch of this drill program, a 3 000 m drill program was successfully completed earlier, in which the High-Grade Zone was intersected across a lateral distance of 50 m and a vertical distance of about 150 m, pierce point to pierce point with a spacing ranging between 25 and 50 m. The High-Grade Zone runs to a depth of about 275 m below the surface and continues to remain open to depth, towards surface, and along strike.
Moreover, Amex Exploration Inc. intends to announce that more visible gold has been intersected at the time of its ongoing drill program.
With the success of our drilling on the Eastern Gold Zone to date and our substantial cash position obtained from the recent financing, the Company is ready to expand upon our very exciting discovery. Drilling to date has indicated that the HGZ is linear, continuous, and is host to substantial gold mineralization. With an all-in drilling cost of only roughly $160 per metre and a cash position of greater than $5 million, the Company is very well financially positioned to expand the program further following continued success.
Victor Cantore, CEO, Amex Exploration Inc.
Furthermore, as part of its commitment to the highest transparency and adhering to industry best practices, Amex Exploration Inc. is happy to share its drilling data on its website. Downhole surveys, drill coordinates, and assay composites for all drilling concluded on the EGZ will be included in the data.
As the present drill program advances, Amex Exploration Inc. will frequently update the data.
About the Eastern Gold Zone
The EGZ was found during a regional exploration drilling campaign conducted in December 2017. PE-17-03—the discovery hole —intersected a pair of zones of near-surface mineralization, known as the Low-Grade Zone and the High-Grade Zone, which returned values including 0.81 g/t Au over 76.5 m and 12.22 g/t Au over 4.66 m, respectively. In 2018, follow-up drilling in the PE2018-17 drill hole intersected values including 0.74 g/t Au over 20.75 m and 269.23 g/t Au over 1.35 m in the Low-Grade Zone and High-Grade Zone, respectively.
Subsequent to this, an intense exploration program focusing on the High-Grade Zone has been started. Assays from this exploration program have returned grades including 56.75 g/t Au over 8.5 m in PE-19-27, 214.71 g/t Au over 0.65 m in PE-19-24, 39.58 g/t Au over 0.75 m in PE-19-23, and 393.33 g/t over 1.7 m in PE-19-22.
Qualified Person
The geological information reported in this news was reviewed and approved by Maxime Bouchard M.Sc.A, P.Geo and VP of Laurentia Exploration, an Independent Qualified Person as defined by Canadian NI 43-101 standards. Amex Exploration Inc.’s management and Maxime Bouchard had planned and supervised the quality control program and the drilling campaign. In the quality control and quality assurance protocols, every standard or blank 10 samples on average are inserted apart from the regular insertion of standard, duplicate, and blank samples accredited by Laboratoire Expert at the time of the analytical process. Estimation of gold values is done through fire assay with finish by atomic absorption and values more than 3 ppm. Gold is again examined by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Metallic sieve is used to analyze samples containing visible gold mineralization. For extra quality control and quality assurance, all samples were crushed to 90% below 2 mm before pulverization, so as to homogenize samples that may include coarse gold. Laurentia Exploration (Maxime Bouchard, P.Geo and Alizée Lienard GIT, both M.Sc.A) completed core logging and sampling.