Amex Exploration Inc. Receives NI 43-101 Technical Report on Cameron Gold Property in Lebel-sur-Quevillon
TSX VENTURE: AMX
MONTREAL, QUEBEC--(Marketwired - Aug. 14, 2017) - Amex Exploration Inc. ("Amex or the Company") (TSX VENTURE:AMX) is pleased to announce the results of an NI43-101 compliant technical report (Report) on the 100% owned Cameron property located 26 km north of Lebel-sur-Quévillon in the north-western part of the province of Quebec and 150 kilometers to the North East of Val D'Or. The Cameron property, as outlined in this Report, covers 13 claims over 731 Ha. Since commissioning the Report, Amex has added 3 more properties to the Cameron Project which now comprises 263 claims covering 14,743 hectares. These new claims are not covered in this Report.
Jacques Marchand, P.Eng. Geo. prepared the Report on the Cameron property and has visited the Cameron property area several times from 2013 to 2015 and completed a detail geological survey of the main area. The area is mostly covered by altered and sheared mafic rocks south of the south-east trending Cameron deformation corridor and north of the Chieftain deformation zone. It is crossed by the north-east Wedding, Franquet and Opawica faults. These structures are widely known for their gold and base metal mineralisation.
From 2010 to 2015, 25 diamond drill holes totalling 6,810m were drilled on the project. Four holes were on Induced Polarisation anomalies and the remainder were on the 91-13 trench area. Several Induced Polarisation anomalies remain untested. One gold bearing area has been defined on surface and by diamond drill holes in the 91-13 trench area. Mineralisation, reaching 11.2g/t and 10.0g/t Au over 0.3m, 9.1g/t Au over 0.8m and 4.1g/t Au over 1.5m are seen within lenses. The system is dimensional, the zone remains open and has a potential for extension and densification of the mineralisation, mainly at depth but also laterally.
The report concludes that given the potential for an economic gold discovery, an exploration program of CDN$600,000 is recommended that would include:
- the interpretation of previous work and to improve the three dimensional system
- removal of the thin overburden cover of two trenches covering the northern and southern flanks of the current trench and extending eastward to recover, at surface, the mineralization found in holes Ca2015s01 and 08
- complete a geological survey, covering the trenches and the surrounding area
- drill at depth into the trench area and at 100m depth under the best untested IP anomalies
- initiate a mineralogical and grade control on all mineralised samples.
"The Lebel-sur-Quévillon area has been the subject of a recent massive staking rush which saw Osisko Mining alone stake 216,000 hectares of land. The region hosts past gold mines, current producing gold mines and new gold discoveries. Our Cameron project is well located in this highly prospective area and we are actively speaking with potential partners to assist us in developing Cameron while we focus on our Perron project where we can benefit from more than $7.5M that has already been spent in exploration work. A project partner on Cameron will enable us to realize the potential of this project without shareholder dilution," said Victor Cantore, President and CEO of Amex.
Amex is also pleased to announce the official launch of its new website at www.amexexploration.com. The Company encourages investors visit the site and to sign up to receive press releases via email. The subscription form can be found on the home page.
Jacques Marchand Ing. Geol., a Qualified Person as defined by Canadian NI 43-101, approved the geological information reported in this news release.
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.