Precious Metals

Highlights from the Denise Zone include:

Western Denise

  • 65.00 m of 1.89 g/t Au, including 0.50 m of 197.35 g/t Au at a vertical depth of ~345-390 m in hole PE-21-422;
  • 58.50 m of 1.82 g/t Au, including 0.50 m of 177.65 g/t Au, at a vertical depth of ~350-400 m in hole PE-21-392;
  • 166.50 m of 0.59 g/t Au, including 30.30 m of 1.16 g/t Au and 6.00 m of 5.16 g/t Au at a vertical depth of ~170-280 m in hole PE-21-411;
  • 16.00 m of 5.77 g/t Au, including 1.50 m of 59.97g/t Au at a vertical depth of ~200 m in hole PE-21-432;
  • 66.60 m of 1.28 g/t Au, including 1.50 m of 34.22 g/t Au at a vertical depth of ~430-480 m in hole PE-21-415

Eastern Denise

  • 41.30 m of 0.88 g/t Au, including 14.90 m of 1.50 g/t Au at a vertical depth of ~230 m in hole PE-22-468;
  • 19.10 m of 0.83 g/t Au, including 0.50 m of 19.64 g/t Au at a vertical depth of ~105 m in hole PE-22-480;

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 27 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.

Today's drill results demonstrate that Denise can now be traced over ~950 m from the Western mafic intrusion to the most Eastern intercept to date in the Denise structure. The Company intends to continue to drill to the East to further expand the Denise Zone along strike. In addition, Amex will continue definition drilling on Western Denise particularly at the depth where there appears to be a higher grade trend developing. A complete list of results is available in Table 1 and presented in Figure 2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very encouraged by the results from the Eastern Denise Zone as they clearly show the structure continues near surface and along strike as we predicted and is now a confirmed kilometric sized system. We have numerous additional holes pending and planned to better define this area along strike and to depth. In addition, our infill drilling on Western Denise has begun indicating multiple higher grade ore shoots within the larger Denise mineralized envelope. We have also defined the Western Denise down to 750 metres. The Denise Zone is wide open along strike and to depth and has the potential to be a very sizeable structure and potential open pit target."

Trottier continued, "One of the best features of our Perron project is that we have both bulk tonnage style and exceptionally high-grade vein-hosted gold zones on the Project. This provides us with optionality from a mining perspective. The close proximity of the Denise Zone to the High Grade Zone makes it a very important target for Amex. We look forward to the receipt of additional results as we work towards building out the property-wide resource."

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_002.jpg

Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_003.jpg

Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Note that drillholes 163-15-021 and 163-15-018 on the easternmost portion of this longitudinal were drilled by a previous operator and have not been fully sampled. The Company intends to evaluate the core to determine if additional sampling of these holes is necessary. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_003full.jpg

Table 1: Assay results from Denise Zone

Hole IDFrom (m)to (m)Length (m)Au (g/t)Metal Factor (g/t*m)Vertical Depth (m)Zone
PE-21-422432.00497.0065.001.89122.72345-390Western Denise Zone
Including432.00432.500.50197.3598.68
PE-21-392421.50480.0058.501.82106.41350-400
Including442.50443.000.50177.6588.83
PE-21-411232.50399.00166.500.5998.73170-280
Including294.50324.8030.301.1635.15
Including393.00399.006.005.1630.98
PE-21-432240.00256.0016.005.7792.27200
Including240.00241.501.5059.9789.96
PE-21-395424.50560.00135.500.6385.50380-490
Including424.50438.0013.503.4746.86
PE-21-415465.00531.6066.601.2885.05430-480
Including528.00529.501.5034.2251.33
PE-21-352143.70233.0089.300.8273.49120-180
PE-21-359115.75154.5038.751.2548.52100-125
And178.50182.704.202.149.00150
PE-21-451154.50162.508.002.7521.99120
PE-21-424554.50568.5014.001.1816.52500
PE-21-388376.50379.503.004.2112.63320
And490.65501.0010.353.2533.65425
PE-21-416223.00248.0025.001.0225.50200
And318.00333.0015.001.3420.15270
PE-21-372228.60238.509.900.737.26175
PE-21-377310.50315.004.501.486.66250
PE-21-35EXT391.00410.5019.500.509.79360
And469.70473.203.5010.6837.37420
PE-21-429216.22225.81.015.86175
And316.5334.718.20.3015.48250
PE-21-447678.55680.001.451.592.31600
PE-21-118EXT382.2387.255.050.3721.88300

 

Hole IDFrom (m)to (m)Length (m)Au (g/t)Metal Factor (g/t*m)Vertical Depth (m)Zone
PE-22-468211.60252.9041.300.8836.39165-195Eastern Denise Zone
Including238.00252.9014.901.5022.41
PE-22-480140.30159.4019.100.8315.78105-120
Including140.30140.800.5019.649.82
PE-22-460311.50312.000.5029.8714.94245
And341.70348.006.301.106.90260
PE-22-493335.70348.6012.900.9311.96255
PE-22-472W1412.90414.601.707.1012.07340
Including413.40414.100.7013.119.18
PE-22-465333.00357.0024.000.4510.78235-250
PEX-21-061447.90470.0522.150.459.92280
163-15-021*215.40220.905.501.709.33150
163-15-018*356.50366.009.500.434.04260

 *Historical drill holes

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.

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 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 elsewhere in the province.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119996

News Provided by Newsfile via QuoteMedia

AMX:CA
Amex Exploration Inc

Amex Exploration Inc

Overview

Amex Exploration Inc. (TSXV:AMX,FRA:MX0,OTCQX:AMXEF) is a junior resource company focused on building ounce and making high-grade gold discoveries at its 100%-owned Perron Gold property located in Canada’s premier mining jurisdictions such as Quebec and Ontario. The Perron property is located in the heart of Canada’s gold production in Quebec’s Abitibi Greenstone Belt. In addition to Perron, Amex’s portfolio includes three other properties focused on gold and base metals in the Abitibi region.

As the second-largest gold producer in Canada, Quebec consistently ranks as one of the most attractive mining jurisdictions in the world due in large part to its mining-friendly policies, ease in obtaining permits, high-quality infrastructure and extensive mineral wealth. The excellent mining infrastructure in Quebec and the Abitibi region where Amex operates helps to keep drilling costs low. The province is home to the country’s largest gold mine, the Canadian Malartic, which is one of more than 100 mines forged within the Abitibi. The belt is recognized as one of the world’s largest and most productive mineral repositories, having produced more than 180 million ounces of gold.

At Perron, Amex Exploration discovered three high-grade gold zones in 2019, now known as the Eastern Gold zone, the Gratien Gold zone, and the Grey Cat zone. The discoveries in these zones were significant in grade, with the Eastern gold zone giving up notable assays of 56.75 g/t gold over 8.5 meters, 29.44 g/t gold over 8.50 meters, 269.33 g/t gold over 1.35 meters and 393 g/t gold over 1.7 meters. These three active exploration zones remain open at depth and along strike allowing for plenty of exploration upside and opportunities to build ounces in known gold zones.

Amex Exploration is in the middle of a fully-funded 100,000-meter drill program with approximately 40,000 meters of drilling completed in 2019 and another 60,000 meters planned for 2020. While the main focus will be on defining and expanding the three main zones of known mineralization, 20,000 meters of planned drilling will be aimed at numerous regional targets that share similar geological features to the known gold zones. The current exploration program aims to provide the basis for a maiden NI 43-101 resource estimate on the project. Amex’s end goal for Perron is to build up ounces quickly in order to become a potential acquisition target.

At the helm of Amex Exploration is a team of proven mine finders and capital market professionals. Executive Chairman of the Board Dr. Jacques Trottier has more than 30 years of experience in mining exploration including time as CEO of Sulliden Exploration where he grew the Shahuindo mines in Peru into a 3 million ounce gold asset. Sulliden merged with Rio Alto, transforming Rio Alto into a mid-tier producer which later merged with Tahoe Resources. President and CEO Victor Cantore has more than 20 years of advisory and leadership experience as an investment advisor with management roles at both public and private companies. During his career, Cantore has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. Victor was instrumental in securing recent financings that enable Amex recent drilling success. Vice President Exploration Kelly Malcolm is a professional geologist with extensive precious metals exploration experience. He was recently involved in the discovery and delineation of Detour Gold’s high-grade 58N gold deposit.

Amex Exploration Company Highlights

  • Large 100-percent-owned land position in mining-friendly Quebec.
  • More than 15 kilometers of prospective faults in an underexplored section of the Abitibi greenstone belt.
  • Regional geology and drilling suggest there is an opportunity to host multiple deposits of various types, including orogenic gold and gold-rich polymetallic VMS systems on the property.
  • Current exploration program aims to provide a basis for maiden NI 43-101 resource estimate.
  • An experienced management team of proven mine finders.
  • Tight capital structure that is well-capitalized; Eric Sprott is the largest strategic shareholder with 12 percent of shares; management holds a combined 13 percent of shares.
  • One of the top-performing TSX stocks of 2019.

Amex Exploration’s Perron Project, Quebec

The Perron gold property is located approximately 110 kilometers north of the town of Rouyn-Noranda in the Abitibi region of northwestern Quebec. The 4,517-hectare property is fully road accessible all year round and is fully serviced by power and water.

amex exploration abitibi greenstone belt
Abitibi Greenstone Belt

Perron hosts 15 kilometers of faults to explore including the Perron and the Normetal fault. The regional northwest-southeast trending Normetal fault delineates a major structural corridor associated with massive sulfide deposits. This fault has given rise to notable ore bodies such as the nearby past-producing Normetal copperzinc-gold-silver mine and the Normetmar zinc deposit as well as a few gold-bearing vein showings.

Perron was originally explored for base metals in the mid-1990s. Since acquiring the property in 1996, Amex has conducted a series of successful exploration programs aimed at the Beaupre Block, a highly prospective wedge that is known to host gold at the Perron property. Over the years this exploration work has led to several gold and base metal discoveries, including three high-grade gold zones: Eastern Gold, Gratien Gold and Grey Cat. The underexplored property also hosts several compelling regional drill targets.

amex exploration perron property geology
Perron Property Geology

The Beaupre Block hosts a 3.2-kilometer-long corridor of known gold mineralization from the Eastern Gold zone to the Gratien Gold zone.

amex exploration beaupre block
3.2 KM Defined Gold Corridor on Beaupre Block
Keep reading...Show less
Amex Reports Copper-Rich VMS Intercepts with Values of up to 2.86% CuEq over 6.40 m Including 4.81% CuEq over 1.60 m from QF Zone

Amex Reports Copper-Rich VMS Intercepts with Values of up to 2.86% CuEq over 6.40 m Including 4.81% CuEq over 1.60 m from QF Zone

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up drillholes on the copper rich volcanogenic massive sulphide ('VMS') QF Zone. The QF Zone occurs along the Normétal Mine Horizon which is a kilometric tuffaceous unit that hosts the nearby past-producing Normétal Mine as shown in Figure 1. See Figures 2 & 3 for a plan map and longitudinal section of the drill intercepts and Figure 4 for photos of the polymetallic sulfide mineralization.

Highlights include:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Amex Exploration Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

Amex Exploration Announces Participation in THE Mining Investment Event of the North, Canada's First Tier I Mining Conference

Amex Exploration (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) has made multiple high grade gold discoveries in the prolific mining region of the Abitibi Greenstone Belt in Quebec. Amex, is pleased to announce that it will be participating in THE Mining Investment Event of the North, which will be held IN PERSON and will take place on June 19-21, 2022, at the Fairmont Chateau Frontenac and Voltigeurs de Quebec Armoury in Quebec City, Canada.

Kelly Malcolm will be presenting at 9:00 AM ET on June 20th. Management from Amex Exploration will also be holding one-on-one investor meetings throughout the three-day conference. Interested parties should contact Nancy Larned at nlarned@vidconferences.com to inquire about registering to attend.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Amex Reports 15.85 M of 15.52 g/t Au and 11.00 M of 11.27 g/t Au from High Grade Zone Expansion Drilling

Amex Reports 15.85 M of 15.52 g/t Au and 11.00 M of 11.27 g/t Au from High Grade Zone Expansion Drilling

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from a number of drill holes focused on expansion drilling of the High Grade Zone ("HGZ"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project as shown in Figure 1. Today's drill results demonstrate that the HGZ is expanding along strike, outside of the main high grade central ore shoot.

Highlights include:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Amex Reports on AGM and Provides Corporate Update

Amex Reports on AGM and Provides Corporate Update

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") announces that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on May 10, 2022. A total of 24,177,225 shares were represented in person or by proxy at the meeting, representing approximately 23.72% of the Corporation's outstanding shares.

The following Board members stood for re-election and were duly re-elected: Victor Cantore, Pierre Carrier, Bryan Coates, Yvon Gélinas, Anik Gendron, Luisa Moreno, André Shareck, and Jacques Trottier. These directors will hold office until the next annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Amex Reports 30.90m of 11.57g/t Au from Eastern Denise Expansion Zone and 10.10m of 3.71g/t Au from the E2 Gold Zone

Amex Reports 30.90m of 11.57g/t Au from Eastern Denise Expansion Zone and 10.10m of 3.71g/t Au from the E2 Gold Zone

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 9 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. In addition, the Company is also pleased to report 11 drills holes from the newly discovered E2 Gold Zone ("E2"). See Figure 1 for a plan view of the geology of the EGZ. In addition, Amex would like to remind shareholders of its Annual General Meeting and corporate update which is scheduled for Tuesday, May 10, 2022 at 10:00 AM Eastern time and will be made available via webcast in consideration of current Covid 19 Government guidelines.

Register for the Zoom broadcast here: https://us06web.zoom.us/meeting/register/tZ0qdOCorjkoGNcQmBM-YC2Nnwcry-3SWQdN

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
gold bars with stock chart

5 Top Weekly TSX Performers: Assay Results Send Xtra-Gold Higher

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 19,030.09 early last Friday (June 24) morning. The index was on the rebound, and managed to close the week up at 19,061.98.

Looking over to the commodities sector, oil prices were on the rise by the end of the week, while gold and silver were on track for weekly declines.

"Our expectation is that prices do rise beyond September, October," Jeffrey Christian of CPM Group told the Investing News Network at this year’s Prospectors and Developers Association of Canada convention.

Keep reading...Show less
four stacks of gold coins superimposed over a city nightscape

5 Top Weekly TSXV Performers: Gold Explorers Find Support as Commodities Prices Fall

Major markets were on course for their first weekly gain in a month last Friday (June 24), while the S&P/TSX Venture Composite Index (INDEXTSI:JX) began to claw back losses seen late Thursday (June 23).

Dipping to a five day low of 623.48 overnight, Canada’s junior index moved to 637.83 after the morning bell. It ultimately closed the period slightly higher at 647.33.

Growing recession concerns were bolstered last week after reports that Canada’s inflation rate rose to a 39 year high of 7.7 percent in May. These fears are mounting below the border as well, and have been reflected in the plunging value of copper, a base and industrial metal heavily that is correlated to economic growth.

Keep reading...Show less
Challenger Exploration

Ongoing Drilling at Hualilan Solidifies Outlook for a Significant Uplift to Recently Reported Maiden MRE

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from recent drilling targeting extensions to the mineralisation at the Company's flagship Hualilan Gold Project, in San Juan Argentina. The results include the first drill holes that were not included in the Company’s recent maiden 2.1 million ounce AuEq1 Mineral Resource Estimate (MRE) which includes a high-grade core of 1.1 Moz at 5.6 g/t AuEq1 .

Keep reading...Show less
Top 10 Central Bank Gold Holdings (Updated 2022)

Top 10 Central Bank Gold Holdings (Updated 2022)

Global central bank gold reserves top 35,500 metric tons (MT), approximately one-fifth of all the gold ever mined. The vast majority of central bank gold holdings were acquired in the last decade, when national banks became net buyers of the yellow metal.

Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. In its most recent annual survey released in June 2022, the World Gold Council (WGC) said that 61 percent of central bankers expect global gold reserves to increase over the next 12 months. Nearly three-quarters of respondents cited the precious metal’s “long-term store of value” as a guiding factor in gold purchases.

Central banks added 463 MT of gold to their vaults in 2021, signaling a significant turnaround in demand after the 255 MT decade low experienced in 2020.

Keep reading...Show less
gold bar with stock chart

VIDEO — Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Gold

Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Goldyoutu.be

The US Federal Reserve hiked interest rates by 75 basis points last week in its ongoing fight against inflation, amping up its efforts to tame prices and leaving market watchers wondering what's next.

Speaking just ahead of the central bank's meeting, Adrian Day, president of Adrian Day Asset Management, said usually the Fed starts out hawkish and then backs off. But this time around the opposite is happening.

This is due to various factors, but US President Joe Biden's recent meeting with Fed Chair Jerome Powell is among them — in their discussion, Biden expressed that inflation is the Fed's responsibility.

Keep reading...Show less

Latest Press Releases

Related News

×