Amex Starts Ground Geophysical Survey at Gowan Property, Kidd Creek Area, Northeastern Ontario
TSX VENTURE: AMX
MONTREAL, QUEBEC--(Marketwired - Dec. 19, 2017) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is pleased to announce that it has initiated a new exploration program starting with a ground geophysical survey at the newly expanded 100% owned Gowan property (See PR2017-10-19).
This property is located in the Gowan Township in the Porcupine Mining Division Ontario, approximately 16 km due east of Glencore's Kidd Creek Mine, considered to be a world class copper zinc volcanogenic massive sulphide deposit. This mine has been in production for over 50 years and produced in excess of 150 million tons of ore. (ref. Kidd Operations Glencore). Geologically the Gowan property is strategically located covering a prospective package of felsic volcanic rocks similar to those which host the Kidd Creek Mine.
The ground geophysical program will evaluate a total of approximately 7 different targets defined by government airborne geophysical surveys. The new anomalies are proximal to historical mineralized intercepts from drill holes completed by a previous exploration group (Alamos Petroleum). Highlights from two drill holes completed by Alamos include a massive to disseminated sulphide zone from Alamos Hole 2 which returned 12.5 feet of 0.635% copper including a shorter interval which assayed 0.95% Cu over 3 feet. Significant anomalous silver values were also associated with these intercepts. Alamos Hole No. 3 testing a separate target area on the property returned three distinct mineralized zones. The upper zone in hole No.3 returned 0.68% Cu and 0.02 oz./ton gold across 1.5 ft., and the middle zone assayed 1.24% Cu across 1.2 ft. Lastly, the lower intercept in the Hole No.3 assayed 1.23% Zn and 0.17% Cu over 2 ft. (The reader is cautioned that these reported intercepts are historical in nature taken from an Alamos Petroleum internal summary report by R.S. Middelton, 1975, and pre-date NI-43-101. The corporation has not drilled holes to verify these historical numbers.)
No significant work has been conducted on the property since the late 1970s. It is anticipated that "state of the art" geophysical surveys that will be conducted on the project will assist in further evaluating the known mineralized zones and potential new zones associated with proximal new airborne electromagnetic (EM) anomalies.
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.
For historical data disclosed, the company has not yet completed the work necessary to verify the past exploration results, the results predate National Instrument 43-101 standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by J. Kevin Filo, PGeo, a qualified person as defined by NI 43-101 and a technical adviser for Amex Exploration.