Initial Brazil results
Amerix cuts 4.2 gpt gold over six metres at Ouro Roxo
2005-05-17 07:43 MT - News Release
Mr. John Andrews reports
AMERIX ANNOUNCES RESULTS FROM OURO ROXO SOUTH DRILLING
Amerix Precious Metals Corp. has provided a further update on exploration activities from Ouro Roxo South at its Vila Porto Rico property in western Para state, Brazil. Mineracao Vila Porto Rico (MVPR), Amerix's wholly owned Brazilian subsidiary, is engaged in a 5,000-metre drilling program at Ouro Roxo.
MVPR has completed 13 diamond drill holes (1,340 metres) of a 14-hole program (1,380 metres) to test the geochemical anomaly at Ouro Roxo South (Pimenteiras). Assay results from the first three holes have identified strong gold mineralization in all three holes and the corporation believes that Ouro Roxo South (Pimenteiras) has the potential for a large gold resource similar to Ouro Roxo North (Buriti), and represents the southern extent of the same Ouro Roxo Norte shear zone.
"We are encouraged by the values that were returned from the first three holes of the Pimenteiras structure," said John Andrews, chief executive officer of Amerix. "Results from the next 11 holes at Ouro Roxo South are being processed and I believe that they will help us better define the opportunity in short order."
Hole No. AORS-8, which was drilled to a depth of 119 metres, returned a six-metre section of 4.2 grams per tonne, between 21 and 27 metres below the collar.
Hole No. AORN-10, which was drilled to a depth of 70 metres, returned a five-metre section of 6.1 grams per tonne between 23 and 28 metres below the collar, including a three-metre section assaying 9.4 grams per tonne. A value of 7.4 grams per tonne was reported in the 1.4-metre section at the bottom of the hole.
Hole No. AORS-21, which was drilled to a depth of 80 metres, returned an eight-metre section of 4.8 grams per tonne, including a four-metre section assaying 8.8 grams per tonne. Additional values of interest of eight grams per tonne and 5.9 grams per tonne were reported at greater depth.
The chemical analyses on the drill core from Ouro Roxo South were performed by Lakefield/Geosol of Belo Horizonte, Brazil, a certified ISO/IEC 17025 and ISO 9002 assayer.
MVPR has also identified another geochemical anomaly located approximately 500 metres southwest from Ouro Roxo South (Pimenteiras), named Pachiuba, which will be drilled during the next phase of the program. Two channel samples were collected and returned 5.7 and 1.2 grams per tonne. One chip sample returned 1.1 grams per tonne.
These encouraging results, along with the geological correlation between holes, suggest that there is an excellent possibility of delineating a new orebody similar to Ouro Roxo Norte, and for increasing the gold resources within the Vila Porto Rico concessions. The next phase of the drilling program will comprise an additional 1,970 metres of drilling, as shown below.
Hole Line Station Depth Azimuth/dip
AORN- m m
23 300N 50E 270 270/60
24 365N 50W 210 270/60
25 365N 50E 270 270/60
26 250N 50E 270 270/60
27 250N 50W 210 270/60
28 500N 25E 220 270/60
29 500N 75W 200 270/50
30 LT-2200S 100E 120 270/60
31 LT-2200S 200E 200 270/60
Total 1,970
The technical and scientific information contained in this press release has been reviewed by Mr. Andrews, PEng (Ontario), a qualified person within the meaning of National Instrument 43-101.