Amex Exploration (TSXV:AMX) Reports Results With Intercepts Up to 4.73 g/t Au over 8.20 m and 2.71 g/t Au over 10.50 m From Perron Project

Figure 1. Geological map of the Perron Project, with the location of existing zones and the newly discovered Team Zone. Source: Amex Exploration

 

Amex Exploration (TSXV:AMX) has reported new results from ongoing drilling at the Team Zone on the Perron project in the Abitibi region of Quebec. Team Zone occurs approximately 600m to the northeast of the High Grae Zone and roughly 300m northeast of the E2 Gold Zone, encompassing an approximate area of 300m by 250m from surface to a depth of approximately 400m. The Team Zone is currently open at depth and along strike and is the newest target generated from the company’s regional exploration campaign from the last year.

Jacques Trottier, Executive Chairman of Amex, commented in a press release: “The Team Zone is shaping up to be a significant component of the overall mineralized system at Perron. It has now delivered gold mineralization in each drill hole, with a mix of both high-grade vein-hosted gold and lower grade stockwork and disseminated mineralization. Today’s results, particularly in hole PE-22-580 with high grades up to 72.06 gram of gold over 1.00 metre, confirm the potential at depth in this system, and the balance of the drillholes affirm our earlier expectations of a widespread near surface orebody. In addition to the known mineralization, the Team Zone adds significantly to our regional targeting as it is a different style of mineralization than encountered elsewhere.”

Highlights from the results are as follows:

PE-22-568: 4.73 g/t Au over 8.20 m at a vertical depth of ~115 m

              Including: 27.07 g/t Au over 1.00 m

PE-22-570: 2.71 g/t over 10.50 m at a vertical depth of ~100 m

              Including: 38.97 g/t Au over 0.50 m

PE-22-571: 2.69 g/t Au over 5.00 m at a vertical depth of ~50 m

PE-22-580: 9.21 g/t Au over 3.90 m at a vertical depth of ~210 m

              And: 0.84 g/t Au over 14.40 m at a vertical depth of ~240 m

              And: 72.06 g/t Au over 1.00 m at a vertical depth of ~305 m

PE-22-583: 1.04 g/t Au over 26.00 m at a vertical depth of ~394 m

Figure 2. Geological compilation map of the Team Zone area. Shown is the outline of the mineralized trend in red, across a widespread area of approximately 300m x 250m. Source: Amex Exploration

Today’s results represent continued testing of the extents, grade, and dimensions of the new Team Zone. Drilling was conducted in several orientations (as shown in Table 2) in order to identify controls on mineralization. The Team Zone is shaping up to be a shallowly eastward-plunging body which begins at surface and is open to depth and to the east. The large overall mineralized trend is driven by several higher-grade areas as can be seen in Figure 2. Further work is required to fully define the higher-grade sub-structures. The Zone is also parallel and adjacent to the E2 Gold Zone to the southwest, and to the 210 & Upper 210 to the northwest. Structural interpretation indicates that the Upper 210 may occur on a similar structure to that of the Team Zone, and further drilling is required to test if they are connected. See Table 1 for a list of the today’s drill results, Table 2 for drill hole coordinates, Figure 1 for a map of the Perron project geology showing the location of the Team Zone, Figure 2 for a map showing the distribution of assayed gold identified to date throughout the Team Zone, and Figure 3 for photos of visible gold in several holes in the Team Zone.

Figure 3. Examples of visible gold in three holes of the Team Zone. PE-22-580 showing coarse visible gold within a tension vein within a massive phase of the Beaupre rhyolite. PE-22-568 showing a linear dispersion of visible gold within a quartz-carbonate vein. PE-22-570 showing visible gold grains in a quartz vein associated with pyrite (Py). Source: Amex Exploration

Table 1. Assay results from the Team Zone at Perron. Note that true width is currently unknown and thus core lengths are shown.

Hole ID From

(m)

To

(m)

Core Length

(m)

Au g/t Vertical depth (m)
PE-22-554EXT 375.00 376.50 1.50 8.54 ~280 to 325
And 401.50 402.00 0.50 1.93
And 426.50 431.50 5.00 0.59
PE-22-564 162.65 173.00 10.35 0.74 ~120 to 250
Including 162.65 165.00 2.35 2.73
And 199.50 213.50 14.00 0.66
And 335.00 336.50 1.50 3.53
PE-22-566 74.50 75.20 0.70 1.80 ~60 to 285
And 107.00 108.50 1.50 1.13
And 371.20 377.50 6.30 0.96
PE-22-568 152.70 160.90 8.20 4.73 ~115 to 220
Including 156.50 157.50 1.00 27.07
And 242.50 245.00 2.50 0.97
And 295.00 295.50 0.50 1.95
PE-22-570 144.50 155.00 10.50 2.71 ~100 to 140
Including 153.50 154.00 0.50 38.97
And 206.50 207.00 0.50 3.72
PE-22-571 60.00 65.00 5.00 2.69 ~50 to 100
And 121.50 123.50 2.00 1.78
PE-22-579 193.00 194.00 1.00 4.01 ~135
PE-22-580 281.10 285.00 3.90 9.21 ~210 to 305
And 322.70 337.10 14.40 0.84
Including 326.70 330.60 3.90 2.03
And 411.40 412.40 1.00 72.06
Including 411.40 411.90 0.50 141.82
PE-22-583 150.30 152.50 2.20 4.65 ~115 to 395
And 201.65 203.00 1.35 1.66
And 306.00 308.50 2.50 2.35
And 509.70 535.70 26.00 1.04
Including 529.50 535.70 6.20 2.98

Table 2. Team Zone drill hole coordinates.

Hole Id Azimuth

(°)

Dip

(°)

Start

(m)

End

(m)

Length

(m)

Easting

(m)

Northing

(m)

Elevation

(m)

PE-22-554EXT 120 -50 330.75 550 219.25 615362 5430924 101
PE-22-564 165 -50 0 358 358 615237 5431037 352
PE-22-566 120 -50 0 385 385 615116 5430895 347
PE-22-568 166 -51 0 349 349 615332 5431034 351
PE-22-570 216 -48 0 405.75 405.75 615385 5431031 355
PE-22-571 178 -51 0 670 670 615299 5430945 343
PE-22-579 128 -45 0 478 478 615109 5430967 347
PE-22-580 347 -52 0 688 688 615357 5430737 344
PE-22-583 347 -51 0 634 634 615422 5430732 345

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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