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MONTREAL, March 19 /CNW Telbec/ - Amex Exploration Inc. (AMX: TSX-V) is pleased to announce that a new phase of drilling has started on its Perron gold project, which is part of its 100% wholly-owned Normetal property in the Abitibi region of Quebec. The Perron property consists of 100 claims for a total area of 3920 hectares.
In 1996, Falconbridge has noted some gold intersects while they were drilling for base metal targets on this property, thus representing the first gold discovery in the area. Having an early interest in this discovery, Ressources Minieres Coleraine inc. (now Amex Exploration inc.) took over the property and explored the area for gold from 1996 to 2000. During this period, Coleraine drilled a total of 90 holes for nearly 19,000 meters and has identified multiple gold rich bearing structures.
From Coleraine work, gold mineralization on Perron had been identified mainly in 3 parallel zones ranging from 300 meters to 900 meters in strike length. These zones are located at, or near, the contact between rhyolites and andesites closely associated to a regional NW-SE structural corridor of an Archean greenstone belt. At that time, Coleraine was then not able to establish a clear interpretation of the various gold zones and their potential continuity and suspended its work on the property.
However, in late 2007 and at the beginning of this year, a new compilation, based on 2007 GPS relocation survey of Coleraine's 1996-2000 drill collars, has allowed Amex consultants Geohabilis to produce a new interpretation of the various mineralized zones encountered in the previous drilling. This recent re-interpretation study from Amex consultant opens up new potential in relation to the extensions of such zones and in order to re-evaluate this potential, Amex decided to launch a new drilling phase.
The current drilling campaign is a follow-up on interesting gold intersections discovered in previous drilling campaigns but which remained open after being subjected to the recent re-interpretation study. This new phase of drilling is focussing mostly on Zone 3 that appears to be the most regular and continuous of the three zones, and that previously returned intersections such as 12.2 g/t Au over 4.0 meters (hole (number sign)P-97-04), 8.8 g/t Au over 2.2 meters, (hole (number sign)P-97-02) and 8.9 g/t Au over 1.7 meter (hole (number sign)P-97-31), with sometimes spectacular high grade intersects such as 78.1 g/t Au over 1.7 meter in hole (number sign)P-97-14. Six drill holes of 175 to 325-metre long, for a total of approximately 1400 metres, will therefore test the lateral and vertical continuities of these previous drilled gold intersections.
It is with great enthusiasm and optimism that Amex management is initiating this new drilling campaign on an area that has clearly demonstrated its good potential for significant gold mineralization that could developed in an important sizable ore body in a region providing very good access with the entire required infrastructure needed to develop a mine. A period of 4 to 6 weeks will be needed to complete this drilling campaign and results will be announced as soon as they are available.
This press release was prepared by Jacques Trottier, geo, Ph.D., president of Amex Exploration inc. Nathalie Guillemette, geo, M.Sc. is supervising the drilling program as Qualified Person in accordance with 43-101 regulations. Diamond drill core are cut in half along the length at the company's core shack facilities in Normetal, Quebec and one half sent to Expert Laboratory in Rouyn-Noranda Quebec for analysis. AAT will be used to analyze for Ag,Cu, Pb and Zn and FA for Au. Standard QA-QC procedures will be employed to ensure the quality of the data.