May 3 2019
Amex Exploration Inc. takes immense pleasure in announcing that after a very successful drill campaign year so far, the Company has made a decision to considerably extend its exploration program on the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”).
The Company will be introducing a second platform to Perron and is maximizing its drilling campaign from the earlier announced 10,000 m to 25,000 m. The increased drill program is completely funded with readily available capital.
Until now in 2019, Amex has bored 7,058 m in 23 drillholes. Every single one of these drillholes has traversed declarable gold mineralization, that is, more than 1 g/t Au across variable widths. Furthermore, 16 of these drillholes have intersected gold mineralization above 10 g/t Au across variable widths. Management is extremely optimistic due to the Company’s development to date and has approved an extra 15,000 m of drilling. The Company looks forward to mobilizing a second rig to location in the coming week.
The Perron project continues to impress with each drillhole that we’ve released this year. The 2018 and 2019 exploration programs have been transformative for the Company. We are very excited and encouraged by our progress to date and look forward to continued exploration on this highly prospective project. The second drill will increase our rate of news as we drill deeper in the system.
Jacques Trottier, PhD, Executive Chairman, Amex Exploration.
The second rig will continue to drill on the Eastern Gold Zone so as to facilitate investigation and definition drilling on the High-Grade Zone and will also be used to expand many 2019 drillholes into the Low-Grade Zone. Moreover, this drill will also be testing many high-priority local exploration targets.
The Company has used the geological model of the Eastern Gold Zone (“EGZ”) and has identified many regional exploration targets that share several geological attributes of the EGZ. These targets include both grassroots sites and regions of historic drilling that have not been investigated or left open. The Perron Gold Zone (“PGZ”) is of specific interest and it is a kilometer-long mineralized structure that was earlier investigated through the 1990s and early 2000s as a bulk tonnage gold mineralized system.
At the PGZ, the Company has discovered prospective regions of high-grade lenses that share characteristics with the EGZ, such as secondary orders north-east south-west structures, spatial correlation with high-magnetic mafic intrusions, high-grade gold-bearing quartz-veins, and sodic rhyolite host-rocks. Historic drill intercepts from the PGZ include 24.59 g/t Au over 5.50 m in PE1997s14, including 330.79 g/t Au over 0.40 m; 10.25 g/t Au over 8.00 m in PE1997s24, including 77.69 g/t Au over 1.00 m; and 11.97 g/t Au over 5.10 m in PE2008s03, including 56.13 g/t Au over 1.00 m.
Trottier added, “Recently, our exploration team has identified some very interesting new targets which bear a similar geological signature to the EGZ elsewhere on the property and having a second drill gives us the flexibility to go test these targets while maintaining our activity on the EGZ. With the knowledge we have gained from exploration on the EGZ, we now see the historical drilling from a different perspective, and I am very excited about the potential for other similar mineralized gold zones elsewhere on the property. Our Perron property covers about 40 square km of greenstone belt that has the potential to host several of these types of gold-rich systems such as the EGZ.”