MONTREAL, June 14 /CNW Telbec/ - Amex Exploration Inc. (AMX: TSX-V) is pleased to announce the results of the second phase of the drilling campaign on the Great Plains base metal project located in the eastern part of its wholly-owned Normetal property in the Abitibi region of Quebec. These results include the discovery of new copper- and silver-bearing massive sulphide mineralization that has many of the features of a typical Archean VMS (volcanogenic massive sulphide) deposit. The best intercept in this massive sulphide returned 0.72% Cu and 4.0 g/t Ag over 1.15 meters, including 1.83% Cu with 7.6 g/t Ag over 0.15 meters, from hole GP2007-04.
This program was undertaken during the second half of May 2007 and comprised three diamond drill holes totaling 681 m as well as downhole InfiniTEM surveys of each hole. All three holes intersected massive sulphide mineralization.
As stated in the Amex Exploration press release of January 19th, 2007, the first phase of the company's drill program that was completed in December 2006 targeted an untested off-hole conductor that was found by Falconbridge Ltd. during the 1990s and that was also detected by a more recent airborne MEGATEM survey. Three holes, GP2006-01 to GP2006-03, totaling 1091 m and spaced at 60 m intervals were drilled from west to east along an E-W line. Downhole InfiniTEM surveys were completed on all three holes. Although no economically significant sulphide mineralization was intersected, two of the holes cut a chert horizon underlain by a copper-bearing stockwork zone. This chert horizon may represent a lull in the volcanic activity during which time massive sulphide mineralization could have accumulated. Moreover, the downhole InfiniTEM surveys indicated the presence of a strong off-hole conductor down dip and to the east of the holes.
The second phase of the drilling campaign was undertaken to verify the off-hole anomalies discovered during the first phase. Three holes plunging at -50 degrees were drilled to the north. The first hole of this campaign (GP2007-04), drilled 50 m to the south and 30 m to the east of GP2006-01, intersected a sequence of chert and massive iron-copper sulphide with subjacent copper-bearing stockwork. This 1.15 m interval of massive sulphide graded 0.72% Cu with 4.0 g/t Ag, including an interval of 0.15 m grading 1.83% Cu with 7.6 g/t Ag.
However, preliminary results from the downhole InfiniTEM survey indicate the presence of an off-hole conductor to the east and slightly down dip. The geophysical model also suggests that the hole missed the main mass of the conductor. GP2007-05 was drilled 30 m to the east and 25 m to the south of drill hole GP2006-02. This hole also intersected chert and massive sulphide with subjacent copper-bearing stockwork. The 0.3 m interval of massive sulphide horizon returned low Cu-Ag values. The presence of a nearby down dip off-hole conductor was also detected by the InfiniTEM survey. Lastly, GP2007-06, drilled 20 m to the east and 20 m to the south of GP2007-04 transected chert, massive sulphide and subjacent copper-bearing stockwork. The 1.13 m zone of massive sulphide graded 0.35% Cu, while the subjacent stockwork zone returned best values of 0.36% Cu over 2.22 m. Once again, the preliminary downhole geophysical model points to the existence of a nearby slightly down dip off-hole conductor, but in this instance to the west.
The management of Amex Exploration is pleased with the outcome of the second drill campaign. Although major accumulation of base metal massive sulphide has not yet being encountered, significant progress and results have been obtained. Firstly, the drilling has confirmed the existence of chert horizons that occur within a volcanosedimentary package that appears to be relatively undeformed and stratigraphically consistent along strike. Chert horizons represent pauses in volcanic activity that may be favourable for the development of volcanogenic massive sulphides. Furthermore, massive sulphide horizons underlain by copper-bearing stockwork zones several meters thick were encountered below the chert beds in each of the three holes of the current campaign. This suggests that the mineralized horizon is relatively continuous along strike. And lastly and most importantly, preliminary results from the downhole geophysical survey suggest that the most conductive zone is still slightly down dip of the latest drill holes, and that the most important parts of the massive sulphide body remain to be drilled.
This press release was prepared by Jacques Trottier, geo, Ph.D., president of Amex Exploration and Francis Chartrand, geo, Ph.D., vice-president of exploration. Nathalie Guillemette, geo, M.Sc. supervised the drill program as Qualified Person in accordance with 43-101 regulations. Diamond drill core was sawn 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 was used to analyze for Cu, Pb and Zn and FA was used for Au and Ag. The InfiniTEM downhole surveys were undertaken by Abitibi Geophysics of Val-d'Or, Quebec. Standard QA-QC procedures were employed to ensure the quality of the data.
Jacques Trottier,
President
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