Amex Expands Gratien Zone with the Best Intersect to Date of 76.69 g/t Au over 3.50 m
- Amex Exploration Inc. intersects the highest-grade gold composite on the Gratien Zone in Quebec.
- An intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies.
- The Company plans to release an NI 43-101 resource estimate in early to mid Q2 2024.
- None.
Montreal, Quebec--(Newsfile Corp. - March 28, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is very pleased to announce that it has intersected the highest-grade gold composite to date on the Gratien Zone ("Gratien"), on the Perron Project in the Abitibi region of Quebec. The near-surface intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies, in follow up drilling to the previously announced results in the February 20, 2024 press release.
With a metal factor of 268.42, this intercept represents Amex's highest-grade composite outside of the High-Grade Zone. The Gratien Gold Zone has become a current focus for Amex Exploration to add significant value to the project. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal of Gratien, Figure 4 for images of gold mineralization in Gratien, Table 1 for assay results, and Table 2 for drillhole coordinates.
Highlights include:
Western Extension Gratien Zone
PEG-24-742 returned 3.50 m of 76.69 g/t Au, including 0.60 m of 431.72 g/t Au at a vertical depth of ~130 m in the Gratien Gold Zone;
PEG-24-738 returned 7.30 m of 8.16 g/t Au, including 0.50 m of 98.17 g/t Au at a vertical depth of ~160 m in the Gratien Gold Zone;
Results from PEG-24-742 represent the highest-grade intercept seen to date in the entirety of the Gratien Zone and is also now the highest metal factor composite outside of the High-Grade Zone. This newly discovered western extension of the Gratien Zone is rapidly expanding with the current drill program. By referring to the longitudinal of Gratien in Figure 3, it can be observed that these heavily mineralized centimetric quartz-carbonate veins were found in a previously untested portion of Gratien West and appear to be an at-depth extension of the existing zone. Gold mineralization is hosted in quartz-carbonate veins parallel to iron formations and straddling mafic intrusions within the Normétal South Block. Multiple mineralized lenses exist in the Gratien Zone (see Figure 2). The Upper Gratien is found within the rhyolite of the Beaupré Block, while several other kilometric mineralized lenses of the main Gratien are found within the andesite of the Normétal South Block. To date, this is the highest-grade mineralization that Amex has found situated outside of the Beaupré Block and opens up the entire Normétal South Block for additional discoveries (see Figure 1). Many additional drill holes have been planned to further define this new high-grade extension.
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The Gratien Zone is open in all directions and is kilometric in strike. This previously untested western extension of the Gratien Zone is providing some of the best mineralization we have encountered across the Perron property. The results have opened up a large new area for rapid expansion and we have deployed three drills to this target. The amount of visible gold mineralization observed in hole PEG-24-742 is similar to what we typically see in the High-Grade Zone (HGZ)."
The Company also wishes to provide an update on the upcoming NI 43-101 resource estimate which it is now targeting to release in early to mid Q2 2024.
Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the Gratien Gold Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_002full.jpg
Figure 2: Geological map of the Gratien Gold Zone, showing gold mineralization greater than 0.50 g/t Au. Three main gold zones occur at Gratien, hosted in an autoclastic rhyolite of the Beaupré Block and in the mafic to intermediate volcanic rocks of the Normétal South Block.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_003full.jpg
Figure 3: Longitudinal section of the Gratien Gold Zone looking to the south. Showing contoured metal factor (Au g/t*core length) and the location of today's released drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_004full.jpg
Figure 4: Highlight photos of the Gratien Gold Zone in drillholes PEG-24-738, PEG-24-742 and PEG-24-745. Gold mineralization is associated with centimetric quartz-carbonate-sulfide veins and contains visible gold. Abbreviation: VG - Visible Gold.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_005full.jpg
Table 1: Assay results from the Gratien Zone at Perron.
| Hole ID | From (m) | To (m) | Core length (m) | Au (g/t) | Ag (g/t) | Vertical depth (m) | Metal Factor* (g/t Au*m) | Gold Zone |
| PEG-24-729 | 194.55 | 195.30 | 0.75 | 3.09 | 1.30 | ~140 | 2.32 | Upper Gratien (Rhyolite) |
| And | 216.50 | 217.00 | 0.50 | 1.27 | 0.70 | ~155 | 0.64 | |
| PEG-24-731 | 197.50 | 199.00 | 1.50 | 0.57 | 0.40 | ~165 | 0.85 | Upper Gratien (Rhyolite) |
| And | 259.80 | 260.40 | 0.60 | 0.64 | 1.00 | ~215 | 0.38 | |
| And | 350.40 | 351.00 | 0.60 | 0.83 | 1.20 | ~285 | 0.50 | |
| PEG-24-734 | 156.00 | 159.50 | 3.50 | 1.057 | 1.00 | ~135 | 3.70 | Gratien (Andesite) |
| PEG-24-736 | 72.80 | 73.80 | 1.00 | 1.93 | 1.20 | ~55 | 1.93 | Gratien (Andesite) |
| And | 131.50 | 135.20 | 3.70 | 0.90 | 0.30 | ~100 | 3.34 | |
| PEG-24-737 | 180.50 | 181.00 | 0.50 | 6.10 | 0.70 | ~151 | 3.05 | Gratien (Andesite) |
| PEG-24-738 | 15.50 | 17.00 | 1.50 | 11.28 | 1.00 | ~15 | 16.92 | Upper Gratien (Rhyolite) |
| And | 178.50 | 180.00 | 1.50 | 1.68 | 0.10 | ~150 | 2.52 | Gratien (Andesite) |
| And | 193.20 | 200.50 | 7.30 | 8.16 | 0.96 | ~160 | 59.56 | |
| Including | 193.20 | 193.70 | 0.50 | 18.86 | 1.80 | 9.43 | ||
| Including | 200.00 | 200.50 | 0.50 | 98.17 | 8.00 | 49.09 | ||
| PEG-24-739 | 224.30 | 225.10 | 0.80 | 3.26 | 5.50 | ~205 | 2.61 | Upper Gratien (Rhyolite) |
| And | 296.50 | 301.70 | 5.20 | 1.96 | 3.46 | ~270 | 10.18 | |
| And | 376.00 | 383.50 | 7.50 | 0.51 | 0.63 | ~340 | 3.82 | |
| PEG-24-740 | 157.00 | 158.50 | 1.50 | 2.17 | 1.00 | ~105 | 3.25 | Gratien (Andesite) |
| And | 177.70 | 188.80 | 11.10 | 1.07 | 0.42 | ~125 | 11.84 | |
| Including | 185.50 | 186.50 | 1.00 | 4.05 | 0.50 | 4.05 | ||
| PEG-24-741 | 270.00 | 270.50 | 0.50 | 2.18 | 2.50 | ~220 | 1.09 | Gratien (Andesite) |
| PEG-24-742 | 131.00 | 134.50 | 3.50 | 76.69 | 5.88 | ~130 | 268.42 | Gratien (Andesite) |
| Including | 131.00 | 131.60 | 0.60 | 431.72 | 33.80 | 259.03 | ||
| Including | 131.60 | 132.50 | 0.90 | 8.54 | 0.10 | 7.69 | ||
| PEG-24-743 | 14.20 | 15.00 | 0.80 | 0.85 | 1.30 | ~10 | 0.68 | Upper Gratien (Rhyolite) |
| And | 69.60 | 70.70 | 1.10 | 0.50 | 1.45 | ~60 | 0.55 | Gratien (Andesite) |
| And | 153.60 | 154.40 | 0.80 | 0.58 | 0.60 | ~135 | 0.46 | |
| PEG-24-744 | 211.50 | 214.80 | 3.30 | 0.55 | 0.74 | ~200 | 1.82 | Gratien (Andesite) |
| PEG-24-745 | 63.90 | 67.90 | 4.00 | 6.98 | 0.60 | ~65 | 27.90 | Gratien (Andesite) |
| Including | 65.90 | 66.40 | 0.50 | 23.86 | 2.80 | 11.93 | ||
| PEG-24-746 | 85.00 | 86.20 | 1.20 | 5.71 | 0.20 | ~70 | 6.85 | Gratien (Andesite) |
| And | 195.50 | 199.00 | 3.50 | 0.59 | 0.73 | ~165 | 2.08 |
*Metal Factor is defined as gold grade multiplied by core length.
Table 2: Drillhole coordinates for today's results.
| Hole ID | Azimuth (°) | Dip (°) | Start (m) | End (m) | Length (m) | Easting (m) | Northing (m) | Elevation (m) |
| PEG-24-729 | 156 | -48 | 0 | 400 | 400 | 613238 | 5430983 | 326 |
| PEG-24-731 | 146 | -57 | 0 | 451 | 451 | 613238 | 5430983 | 325 |
| PEG-24-734 | 196 | -60 | 0 | 231 | 231 | 612574 |
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FAQ
What is the highest-grade gold composite intersected by Amex Exploration Inc. on the Gratien Zone?
The highest-grade gold composite intersected by Amex Exploration Inc. on the Gratien Zone is 76.69 g/t Au over 3.50 m.
When does Amex Exploration Inc. plan to release an NI 43-101 resource estimate?
Amex Exploration Inc. plans to release an NI 43-101 resource estimate in early to mid Q2 2024.
Where is the Gratien Zone located?
The Gratien Zone is located on the Perron Project in the Abitibi region of Quebec.
What is the metal factor of the intercept on the Gratien Zone?
The metal factor of the intercept on the Gratien Zone is 268.42.
How many drills have been deployed to the Gratien Zone?
Three drills have been deployed to the Gratien Zone by Amex Exploration Inc.
AMEX EXPLORATION INC ORD
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