NOW WE KNOW WHAT'S DRIVING SPMT'S SHARE PRICE... Amex Exploration moves third drill to Perron
2020-01-06 06:28 ET - News Release
Mr. Victor Cantore reports
THIRD DRILL MOBILIZED TO AMEX PERRON PROJECT AS PART OF 100,000 METRE DRILL PROGRAM
A third drill has been mobilized to Amex Exploration Inc.'s 100-per-cent-owned Perron property in northwestern Quebec, Canada, as part of its continuing fully financed 100,000-metre drill program.
The third drill will be used to test regional exploration targets along strike to the east and west of the current 3.2-kilometre-long corridor of known gold mineralization (Gratien gold zone to Eastern gold zone). Approximately 20,000 metres of drilling will be dedicated to testing unexplored or underexplored structures within the Beaupre rhyolite block, which hosts the Eastern gold zone, the Gratien gold zone, the Central polymetallic zone and the Grey Cat zone. The Beaupre block, a highly prospective package that is known to host gold at the Perron property, was the subject of a detailed drone magnetic survey flown in late 2019. Amex expects to announce the interpretation of the drone survey and new drill targets shortly.
Victor Cantore, chief executive officer of Amex, commented: "The third drill will be testing areas that have never seen or have seen only very limited drilling in a package of rocks that yielded exceptional gold results for Amex in 2019. Two additional drills are currently on site and will continue to explore and define the Eastern gold zone, Grey Cat zone and Gratien zone. Approximately 60,000 of our ongoing 100,000-metre program has yet to be drilled. With the completion of our two recent financings of approximately $13-million, the company is very well capitalized for an aggressive exploration program."
Qualified person
Maxime Bouchard, PGeo, MScA (OGQ 1752), and Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), independent qualified persons as defined by Canadian National Instrument 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 Mr. Bouchard and Dr. Augustin. The quality assurance and quality control protocol includes 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 Inc. during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over three parts per million Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert, 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 per cent less than two millimetres prior to pulverization in order to homogenize samples that 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 regard 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 Exploration Inc.
Amex 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-per-cent-owned Perron gold project located 110 kilometres north of Rouyn Noranda, Que., 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.
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