Amex Expands Multiple Gold Zones at the Perron Gold Project

Rhea-AI Summary

Amex Exploration has announced significant drilling results expanding multiple gold zones at its Perron Project in northwestern Abitibi, Quebec. Key high-grade gold intersections include:

- Denise Zone: 35.82 g/t Au over 1.20m (including 60.82 g/t Au over 0.70m)
- Upper High Grade Zone: 69.03 g/t Au over 0.50m
- E2 Zone: 5.75 g/t Au over 2.40m and 6.02 g/t Au over 3.00m
- Grey Cat Zone: 49.75 g/t Au over 0.60m
- Gratien Zone: 5.71 g/t Au over 3.80m and 7.44 g/t Au over 2.00m
- JT Zone: 0.61 g/t Au over 162.00m and 0.72 g/t Au over 123.00m

The drilling program was optimized following the recent Preliminary Economic Assessment (PEA) to add economically viable ounces to existing zones. The company also reported its first discovery of visible gold mineralization outside the Beaupré Block in the basalts, demonstrating potential for gold mineralization across the entire Perron property.

Positive

• Multiple high-grade gold intersections across several zones indicating expansion potential
• Discovery of visible gold mineralization outside main block, expanding project potential
• Drill results show metal factors significantly above PEA threshold
• Successful expansion of known zones either along strike or at depth

Negative

• None.

Montreal, Quebec--(Newsfile Corp. - January 9, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce that recent drilling has continued to expand the footprint of multiple zones at its flagship Perron Project, located in northwestern Abitibi, Quebec. As seen in today's results, the Company continues to find high-grade gold across multiple gold zones, successfully expanding them either along strike or at depth (see Figures 1-8). For a full list of today's drill results and collar locations, please see Tables 1-4 below.

Since obtaining the economic stopes and open pits from the mine plan detailed in the Perron Preliminary Economic Assessment (PEA) (see November 13, 2024 press release), drill hole planning has been further optimized by adding the criteria of adding economically viable ounces to existing zones.

Drill Highlights Include:

Denise Zone:

• 35.82 g/t Au over 1.20 m, including 60.82 g/t Au over 0.70 m at a vertical depth of ~280 m - hole PE-24-818

Upper High Grade Zone:

• 69.03 g/t Au over 0.50 m at a vertical depth of ~730 m - hole PE-21-386W2

E2 Zone:

• 5.75 g/t Au over 2.40 m, including 22.63 g/t Au over 0.50 m at a vertical depth of ~105 m - hole PE-24-819

• 6.02 g/t Au over 3.00 m, including 10.83 g/t Au over 1.50 m at a vertical depth of ~45 m - hole PE-24-817

Grey Cat Zone:

• 49.75 g/t Au over 0.60 m at a vertical depth of ~50 m - hole PEG-24-834

Gratien Zone:

• 5.71 g/t Au over 3.80 m, including 18.15 g/t Au over 0.50 m at a vertical depth of ~230 m - hole PEG-24-826

• 7.44 g/t Au over 2.00 m, including 12.21 g/t Au over 1.00 m at a vertical depth of ~195 m - hole PEG-24-828

JT Zone

• 0.61 g/t Au over 162.00 m, including 1.74 g/t Au over 21.00 m at a vertical depth of ~500 m - hole PEX-24-266

• 0.72 g/t Au over 123.00 m, including 27.12 g/t Au over 1.50 m at a vertical depth of ~20 m - hole PEX-24-265

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Since receiving the block model from the Mineral Resource Estimate (MRE) and subsequently the mine plan from the PEA, our geological team has been able to significantly refine the drill planning process with the goal of increasing economic ounces on the project within the known gold zones. Today's results, as illustrated in Figures 8 and 9, indicate a strong potential for these intercepts to contribute additional ounces to the mine plan."

Jonathan Gagné, Vice President of Project Development added, "In the recently released PEA, a minimum diluted mining width of 3.7 m was applied along with a cut-off grade of 1.50 g/t representing a metal factor of 5.55 (g/t Au * m). With the exception of the JT Zone where a bulk mining scenario could be envisioned, these high-grade intercepts, have all shown metal factors significantly above this PEA threshold."

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration added, "The discovery of visible gold in regional drill hole PEX-24-197 is especially exciting. This is the first time we have found visible gold mineralization outside of the Beaupré Block to the west in the basalts. This further demonstrates that gold mineralization at Perron extends beyond the Beaupré Block, highlighting the entire Perron property as having fertile targets for hosting gold mineralization. We look forward to following up on this new regional discovery with our 2025 drill program."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, with the areas of today's drill results outlined.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_002full.jpg

Figure 2: Geological map of the JT Zone, highlighting today's released holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_003full.jpg

Figure 3: Geological map of the Eastern Gold Zone (which includes the High Grade, Denise, E2, and Team Zones), highlighting today's released holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_004full.jpg

Figure 4: Geological map of the Gratien, Grey Cat, Alizée and Central Polymetallic Zones, highlighting today's released holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_005full.jpg

Figure 5: Geological map of Western Perron exploration, highlighting today's released hole. Gold result is hosted in the Beaupré basalt.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_006full.jpg

Figure 6: Longitudinal section of the JT Zone, highlighting today's released holes. PEX-24-265 and PEX-24-266 are the highest metal factor holes drilled in the zone to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_007full.jpg

Figure 7: Photos of visible gold (VG) from various drill holes in today's press release. High-grade mineralization is represented by a quartz-carbonate-sulfide veins with visible gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_008full.jpg

Figure 8: Photos of visible gold (VG) from drill hole PEX-24-197 from the regional exploration program in western Perron. Mineralization style shares similar features with other gold mineralization at Perron.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_009full.jpg

Figure 9: Screenshot from Leapfrog modelling software to illustrate the proximity of recent drill intercepts in the Gratien Gold Zone to existing planned underground stopes from the PEA.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_010full.jpg

Figure 10: Screenshot from Leapfrog modelling software to illustrate the proximity of recent drill intercepts in the Denise Gold Zone to existing planned underground stopes from the PEA.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/236396_4439104764d0cb4c_011full.jpg

Table 1: Assay results from Eastern Gold Zone at Perron displaying both core length and estimated true thickness.

Hole ID	From (m)	To (m)	Core Length (m)	True Thickness (m)	Au (g/t)	Ag (g/t)	Vertical Depth (m)	Metal Factor* (g/t Au*m)	Metal Factor** (g/t Au*m)	Zone
PE-20-186W1	621.90	622.40	0.50	-	1.72	0.80	~580	0.86	-	Upper HGZ
And	763.30	763.80	0.50	0.35	1.68	0.30	~695	0.84	0.59	Western Denise Zone
And	776.80	777.30	0.50	0.35	1.87	0.10	~705	0.94	0.65
And	803.70	804.70	1.00	0.71	0.78	0.10	~725	0.77	0.55
And	873.00	877.60	4.60	3.41	0.78	0.37	~780 to ~785	3.58	2.66
Including	877.10	877.60	0.50	0.37	1.31	1.70		0.66	0.48
And	895.00	896.50	1.50	1.11	1.16	0.70	~800	1.73	1.28
PE-21-288W3	540.50	541.10	0.60	0.11	2.12	4.00	~460	1.27	0.23	Upper HGZ
And	806.50	807.10	0.60	-	1.89	0.40	~755	1.14	-	Unknown Gold Zone
And	858.50	859.10	0.60	-	3.70	0.60	~805	2.22	-
And	1012.50	1013.05	0.55	0.29	0.77	0.20	~940	0.43	0.22	Western Denise Zone
And	1078.10	1081.50	3.40	1.83	0.48	0.47	~1000	1.62	0.87
Including	1078.10	1079.50	1.40	0.75	0.52	0.10		0.73	0.39
Including	1081.00	1081.50	0.50	0.27	1.39	0.80		0.70	0.38
And	1106.00	1106.50	0.50	0.27	0.60	0.30	~1025	0.30	0.16
And	1125.00	1126.10	1.10	0.59	2.30	0.45	~1040	2.53	1.35
Including	1125.00	1125.60	0.60	0.32	1.91	0.40		1.15	0.61
Including	1125.60	1126.10	0.50	0.27	2.76	0.50		1.38	0.75
PE-21-288W5	1057.80	1058.80	1.00	0.39	7.24	1.20	~995	7.24	2.82	HGZ
Including	1058.30	1058.80	0.50	0.20	13.31	1.50		6.66	2.66
And	1129.00	1129.50	0.50	0.26	0.79	0.30	~1060	0.39	0.20	Western Denise Zone
PE-21-386W2	603.60	604.20	0.60	-	9.68	4.80	~570	-	5.81	Upper HGZ
And	793.70	794.20	0.50	-	69.03	1.80	~730	-	34.52	Unknown Gold Zone
And	933.00	946.50	13.50	6.52	1.56	0.51	~845 to ~855	21.06	10.17	Eastern HGZ
Including	936.60	937.30	0.70	0.34	5.27	0.60		3.69	1.79
Including	937.30	937.80	0.50	0.24	3.21	0.90		1.61	0.77
Including	937.80	938.30	0.50	0.24	20.40	0.90		10.20	4.90
Including	944.00	944.60	0.60	0.29	2.14	0.40		1.28	0.62
PE-22-524W8	1134.10	1137.30	3.20	0.38	1.24	0.25	~1015	3.97	0.47	Upper HGZ
Including	1136.70	1137.30	0.60	0.07	4.90	0.90		2.94	0.34
And	1146.50	1147.50	1.00	0.79	4.33	1.85	~1025	4.33	3.42	Unknown Gold Zone
Including	1276.20	1280.00	3.80	2.81	1.81	0.69	~1115	6.86	5.07	Eastern HGZ
including	1276.20	1276.70	0.50	0.37	11.69	1.30		5.85	4.33
PE-23-723	1030.50	1031.30	0.80	0.63	2.14	1.10	~855	1.71	1.35	Eastern Denise Zone
And	1057.00	1057.50	0.50	0.40	2.01	0.40	~875	1.01	0.81
PE-24-803	47.90	48.40	0.50	-	2.31	3.90	~40	1.16	-	Unknown Gold Zone
And	192.90	194.50	1.60	1.15	0.63	0.53	~155	1.01	0.73	Western Denise Zone
And	218.90	220.70	1.80	1.19	0.18	0.10	~190	0.32	0.21	Western High-Grade Zone
PE-24-809	111.60	112.10	0.50	-	1.78	0.40	~100	0.89	-	Unknown Gold Zone
And	350.60	354.60	4.00	2.16	1.54	0.59	~305	6.15	3.32	Eastern HGZ
Including	353.50	354.10	0.60	0.32	5.69	1.00	~310	3.41	1.82
PE-24-811	476.00	476.60	0.60	0.36	14.28	1.80	~405	8.57	5.14	Eastern HGZ
PE-24-805	228.00	230.45	2.45	1.45	1.25	0.10	~200	3.07	1.82	Western Denise Zone
And	280.50	282.00	1.50	0.89	0.57	1.00	~245	0.85	0.50
And	293.70	296.75	3.05	1.67	0.93	0.42	~255	2.83	1.55	Western HGZ
And	303.00	303.70	0.70	0.42	6.48	1.20	~265	4.54	2.72	Western Denise Zone
PE-24-806	269.80	274.00	4.20	3.00	0.62	0.50	~220	2.61	1.86	Westerm Denise Zone
And	279.30	280.70	1.40	0.94	0.71	0.40	~225	0.99	0.67	Western HGZ
And	282.00	283.50	1.50	1.07	0.96	0.20	~230	1.43	1.02	Western Denise Zone
PE-24-810	158.00	158.50	0.50	-	0.58	0.20	~140	0.29	-	Unknown Gold Zone
And	337.00	340.00	3.00	-	2.07	0.10	~295	6.22	-
And	352.80	353.55	0.75	0.52	1.13	1.30	~305	0.85	0.59	Denise Zone
And	387.50	390.10	2.60	1.65	0.63	0.12	~335	1.64	1.04	Western HGZ
PE-24-812	300.40	301.90	1.50	-	0.50	0.10	~275	0.75	-	Unknown Gold Zone
And	401.00	402.00	1.00	0.56	1.15	0.60	~365	1.15	0.64	Denise Zone
And	423.80	432.90	9.10	4.73	0.66	0.28	~380 to ~390	6.04	3.14	Western HGZ
Including	423.80	424.70	0.90	0.47	0.95	0.90		0.86	0.45
Including	431.95	432.90	0.95	0.50	4.51	0.50		4.28	2.26
PE-24-814	115.50	116.50	1.00		0.98	1.50	~80	0.98	-	E2 Zone
PE-24-815	123.00	123.60	0.60	-	12.79	12.80	~95	7.67	-	Upper HGZ
PE-24-817	61.50	64.50	3.00	-	6.02	1.25	~45	18.06	-	E2 Zone
Including	63.00	64.50	1.50	-	10.83	2.20		16.25	-
And	144.00	145.00	1.00	-	0.71	0.10	~100	0.71	-
PE-24-818	174.00	175.50	1.50	-	0.54	0.10	~130	0.82	-	Unknown Gold Zone
And	315.00	315.70	0.70	0.55	1.79	1.10	~230	1.25	0.98	Western Denise Zone
And	320.10	321.60	1.50	1.19	0.59	0.64	~235	0.88	0.70
And	326.00	327.00	1.00	0.79	1.04	0.10	~240	1.04	0.82
And	360.00	361.50	1.50	1.19	1.62	0.10	~265	2.44	1.93
And	382.80	384.00	1.20	0.96	35.82	2.83	~280	42.99	34.39
Including	382.80	383.50	0.70	0.56	60.82	4.70		42.57	34.06
And	458.20	458.70	0.50	0.42	1.27	11.60	~330	0.63	0.53	Western Denise Zone
PE-24-819	52.20	53.10	0.90	-	0.53	0.10	~50	0.48	-	E2 Zone
And	113.60	116.00	2.40	-	5.75	0.78	~105	13.79	-
including	113.60	114.10	0.50	-	22.63	3.00		11.32	-
And	204.50	205.10	0.60	-	4.25	1.70	~185	2.55	-
*Metal factor is defined as gold grade multiplied by core length (g/t Au*m)
**Metal factor is defined as gold grade multiplied by true thickness (g/t Au*m)

 

Table 2: Assay results from Grey Cat, Gratien and N110 gold zones 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)	Zone
PEG-24-733	95.90	96.40	0.50	1.60	0.30	~65	0.80	Grey Cat Zone
And	125.00	125.60	0.60	1.62	0.20	~85	0.97
And	131.20	133.00	1.80	2.04	0.73	~90	3.67
Including	131.20	132.40	1.20	1.17	0.60		1.40
Including	132.40	133.00	0.60	3.77	1.00		2.26
PEG-24-774	50.00	50.50	0.50	3.53	0.40	~40	1.77	Upper Gratien Gold Zone
And	84.00	85.50	1.50	1.08	0.10	~65	1.61
And	100.70	101.60	0.90	1.65	0.50	~80	1.49
And	294.00	294.50	0.50	1.04	0.70	~225	0.52
And	370.60	371.20	0.60	1.70	0.20	~280	1.02	Gratien Main Gold Zone
PEG-24-776	61.50	62.80	1.30	0.57	0.10	~45	0.74	N110 Gold Corridor
And	266.00	266.50	0.50	0.61	0.30	~195	0.30
And	324.00	324.50	0.50	4.46	0.10	~235	2.23	Upper Gratien Gold Zone
And	326.70	327.20	0.50	0.84	0.20	~240	0.42
And	359.60	360.20	0.60	0.56	0.50	~260	0.34
And	433.80	434.40	0.60	0.90	0.10	~315	0.54	Gratien Main Gold Zone
And	462.00	462.50	0.50	3.94	0.20	~330	1.97
And	465.80	466.30	0.50	1.21	0.10	~335	0.61
And	535.00	535.50	0.50	0.70	0.30	~385	0.35
And	558.85	560.20	1.35	7.61	0.14	~400	10.27
Including	558.85	559.65	0.80	12.44	0.10		9.95
And	565.00	566.00	1.00	0.97	0.95	~405	0.97
Including	565.00	565.50	0.50	0.91	0.60		0.46
Including	565.50	566.00	0.50	1.02	1.30		0.51
PEG-24-800	489.00	490.50	1.50	0.51	0.10	~420	0.77	Grey Cat Zone
And	520.50	522.00	1.50	0.82	0.10	~450	1.23
PE-24-820	189.70	198.00	8.30	0.78	0.10	~140	6.47	Grey Cat Zone Eastern Extension
Including	193.50	194.00	0.50	6.27	0.10	~150	3.14
PEG-24-821	132.00	132.75	0.75	0.68	0.10	~95	0.51	Upper Gratien Gold Zone
And	138.30	139.70	1.40	7.74	2.58	~100	10.83
Including	138.30	139.20	0.90	11.59	3.40		10.43
And	220.70	221.60	0.90	4.38	0.70	~150	3.94	Gratien Main Gold Zone
PEG-24-822	201.10	201.80	0.70	0.61	0.10	~170	0.43	Upper Gratien Gold Zone
And	202.60	203.10	0.50	3.57	2.20	~175	1.79
PEG-24-824	132.00	133.20	1.20	1.48	0.10	~105	1.77	Upper Gratien Gold Zone
And	183.00	183.65	0.65	5.34	2.00	~145	3.47
And	211.50	213.00	1.50	3.66	0.70	~170	5.48
Including	211.50	212.00	0.50	9.87	1.90		4.94
And	242.70	245.40	2.70	6.70	5.84	~195	18.08
Including	242.70	243.30	0.60	21.25	10.20		12.75
Including	243.30	243.80	0.50	4.92	17.10		2.46
Including	243.80	244.30	0.50	4.29	1.10		2.15
Including	244.30	245.40	1.10	0.66	0.50		0.73
PEG-24-825	214.25	214.85	0.60	1.43	0.70	~180	0.86	Upper Gratien Gold Zone Eastern Extension
And	238.60	239.65	1.05	1.16	2.50	~200	1.22
Including	238.60	239.10	0.50	1.28	3.50		0.64
Including	239.10	239.65	0.55	1.06	1.60		0.58
And	267.90	268.40	0.50	1.61	15.00	~225	0.81
PEG-24-826	111.20	111.70	0.50	1.28	0.20	~95	0.64	Upper Gratien Gold Zone
And	164.00	165.80	1.80	1.28	1.26	~140	2.30
Including	164.00	164.50	0.50	0.96	0.60		0.48
Including	165.00	165.80	0.80	2.06	1.70		1.64
And	208.80	209.60	0.80	2.32	1.60	~175	1.85
And	272.50	276.30	3.80	5.71	1.42	~230	21.70	Gratien Main Gold Zonev(Andesite)
Including	272.50	273.00	0.50	18.15	2.30		9.08
Including	273.00	274.00	1.00	6.26	1.30		6.26
Including	274.00	274.70	0.70	1.46	0.90		1.02
Including	274.70	275.20	0.50	8.84	2.20		4.42
Including	275.20	276.30	1.10	0.84	1.10		0.92
PEG-24-828	186.00	187.50	1.50	0.74	0.10	~145	1.11	Upper Gratien (Rhyolite)
And	252.00	254.00	2.00	7.44	1.55	~195	14.88	Gratien Main Gold Zone (Andesite)
Including	252.00	253.00	1.00	2.67	0.60		2.67
Including	253.00	254.00	1.00	12.21	2.50		12.21
PEG-24-830	105.90	107.00	1.10	1.32	0.50	~95	1.45	Upper Gratien Gold Zone
And	183.90	185.00	1.10	2.65	1.04	~165	2.91
Including	183.90	184.40	0.50	1.38	0.60		0.69
Including	184.40	185.00	0.60	3.70	1.40		2.22
And	285.90	286.70	0.80	0.92	0.10	~255	0.74
PEG-24-834	73.50	74.10	0.60	49.75	0.60	~50	29.85	Grey Cat Zone Western Extension
And	93.00	94.50	1.50	2.45	0.10	~65	3.68
And	101.00	103.00	2.00	1.01	0.13	~70	2.02
And	135.50	136.70	1.20	1.19	0.50	~95	1.43
And	168.50	169.50	1.00	0.63	0.10	~115	0.63
PEX-24-197	101.50	103.40	1.90	2.41	0.74	~70	4.57	Western Exploration
Including	102.00	102.50	0.50	8.53	0.90		4.27
*Metal factor is defined as gold grade multiplied by core length (g/t Au*m)

 

Table 3: Assay results from the JT, Alizee and Central Polymetallic Zones.

Hole ID	From (m)	To (m)	Core Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	Vertical Depth (m)	Metal Factor* (g/t Au*m)	Zone
PEX-24-244	211.50	215.20	3.70	0.83	0.13	-	-	~195 to ~200	3.05	JT Zone [Rhyolite]
Including	213.00	213.50	0.50	1.75	0.10	-	-		0.88
Including	213.00	213.50	0.50	1.75	0.10	-	-		0.88
Including	213.50	214.00	0.50	2.59	0.30	-	-		1.29
Including	214.00	214.70	0.70	0.72	0.10	-	-		0.50
And	225.30	226.30	1.00	1.32	0.10	-	-	~210	1.32
And	592.50	593.00	0.50	3.51	0.36	-	-	~550	1.75
PEX-24-237	290.70	291.20	0.50	2.74	0.10	0.00	0.00	~260	1.37	Gold Zone [Rhyolite]
And	375.00	387.20	12.20	0.12	0.09	0.01	0.01	~335	1.51	JT Zone [Tonalite]
Including	379.20	380.00	0.80	0.63	0.10	0.02	0.01	~345	0.50
And	404.50	405.00	0.50	2.98	0.50	0.00	0.00	~361	1.49	Gold Zone [Rhyolite]
PEX-24-240	217.50	218.40	0.90	0.69	0.43	-	-	~200	0.62	Gold Zone [Rhyolite]
And	303.40	303.90	0.50	0.53	0.10	-	-	~280	0.27
And	444.80	448.50	3.70	0.17	0.06	0.01	0.01	~410	0.62	JT Zone [Dike]
And	469.50	470.00	0.50	3.02	0.67	-	-	~430	1.51	Gold Zone [Rhyolite]
PEX-24-255	613.50	615.00	1.50	4.32	0.20	-	-	~580	6.48	JT Zone [Rhyolite]
And	624.00	624.50	0.50	8.98	0.20	-	-	~590	4.49
PEX-24-262	271.00	273.00	2.00	1.12	0.10	-	-	~240	2.25	JT Zone [Rhyolite]
Including	271.00	272.30	1.30	1.06	0.10	-	-		1.38
Including	272.30	273.00	0.70	1.24	0.10	-	-		0.87
PEX-24-264	16.50	24.25	7.75	1.02	0.16	-	-	~113	7.89	JT Zone [Rhyolite]
Including	16.50	18.00	1.50	1.78	0.40	-	-	~345	2.67
Including	19.50	22.50	3.00	1.49	0.10	-	-	~345	4.48
Including	23.50	24.25	0.75	0.61	0.10	-	-	~20	0.46
And	51.00	136.50	85.50	0.23	0.28	0.02	0.02	~45 to ~125	19.92	JT Zone [Tonalite]
Including	51.00	52.50	1.50	0.60	0.25	0.01	0.03	~45	0.89
Including	91.50	93.00	1.50	0.95	0.25	0.03	0.02	~85	1.43
Including	121.50	136.50	15.00	0.56	0.45	0.03	0.01	~125	8.32
PEX-24-265	31.50	154.50	123.00	0.72	0.25	0.03	0.02	~20 to ~105	88.41	JT Zone [Tonalite]
Including	31.50	33.00	1.50	3.90	0.25	0.00	0.01	~20	5.85
Including	37.50	52.50	15.00	1.32	0.25	0.03	0.03	~25 to ~35	19.72
Including	61.50	63.00	1.50	0.74	0.25	0.03	0.01	~45	1.11
Including	72.00	73.50	1.50	0.57	0.25	0.03	0.07	~50	0.86
Including	76.50	79.50	3.00	0.68	0.25	0.03	0.03	~55	2.03
Including	88.50	90.00	1.50	1.68	0.25	0.03	0.01	~60	2.52
Including	118.50	120.00	1.50	27.12	0.25	0.03	0.03	~80	40.69
Including	118.50	119.50	1.00	37.50	0.25	0.04	0.02		37.50
Including	135.00	136.50	1.50	2.73	0.25	0.03	0.01	~95	4.10
And	195.00	196.50	1.50	1.87	0.50	-	-	~135	2.80	JT Zone [Rhyolite]
PEX-24-266	548.50	710.50	162.00	0.61	0.26	0.02	0.01	~500 to ~640	99.32	JT Zone [Tonalite]
Including	580.00	581.00	1.00	0.78	0.25	0.02	0.01	~530	0.78
Including	584.50	586.00	1.50	1.49	0.25	0.01	0.02	~530	2.24
Including	591.90	593.00	1.10	0.52	0.25	0.02	0.02	~540	0.57
Including	611.50	614.50	3.00	1.17	0.25	0.01	0.02	~555	3.51
Including	620.50	626.50	6.00	0.94	0.25	0.01	0.02	~560 to ~570	5.66
Including	632.95	637.00	4.05	0.67	0.25	0.02	0.01	~575 to ~580	2.71
Including	643.00	664.00	21.00	1.74	0.25	0.03	0.02	~585 to ~600	36.43
Including	670.00	694.00	24.00	1.16	0.25	0.02	0.01	~605 to ~630	27.94
Including	709.00	710.50	1.50	2.07	1.10	0.02	0.02	~640	3.11
And	716.50	718.00	1.50	5.47	0.25	-	-	~650	8.21	JT Zone [Rhyolite]
PE-24-704EXT	218.50	219.00	0.50	1.10	0.10	-	-	~145	0.55	JT Zone [Rhyolite]
And	260.00	268.00	8.00	0.48	0.28	-	-	~170 to ~175	3.83
including	260.00	260.60	0.60	2.14	0.10	-	-		1.28
including	263.60	264.10	0.50	1.54	1.40	-	-		0.77
including	266.10	268.00	1.90	0.78	0.50	-	-		1.48
PE-24-780	71.50	73.00	1.50	1.31	0.10	-	-	~70	1.97	Alizée Zone
And	145.00	146.50	1.50	0.72	0.10	-	-	~140	1.07
And	208.00	209.50	1.50	0.63	0.10	-	-	~200	0.94
PE-24-782	27.50	28.50	1.00	1.58	0.30	-	-	~20	1.58	Unknown Gold Zone
And	239.50	240.30	0.80	9.54	2.80	-	-	~180	7.63	Alizée Zone
And	287.70	291.00	3.30	2.23	0.36	-	-	~215	7.36
PE-24-783	98.50	100.00	1.50	1.06	0.10	-	-	~95	1.59	Alizée Zone
And	166.00	166.50	0.50	1.04	0.20	-	-	~155	0.52
And	239.80	240.30	0.50	18.89	0.20	-	-	~225	9.45
PEG-24-799	8.50	9.00	0.50	1.04	0.10	-	-	~10	0.52	Alizée Zone
And	274.50	276.00	1.50	8.50	0.20	-	-	~245	12.75
And	621.00	622.00	1.00	1.83	2.10	0.01	0.13	~450	1.83	Central Polymetallic Zone
And	655.00	660.00	5.00	0.56	0.70	0.02	0.47	~565 to ~575	2.80
Including	655.00	656.00	1.00	0.89	0.90	0.00	0.37		0.89
Including	656.00	657.00	1.00	0.58	1.00	0.03	0.50		0.58
Including	658.50	660.00	1.50	0.76	0.25	0.01	0.93		1.13
And	675.50	678.00	2.50	1.16	1.21	0.02	0.38	~585	2.90
Including	675.50	676.70	1.20	0.61	1.00	0.03	0.57		0.73
Including	676.70	678.00	1.30	1.67	1.40	0.02	0.21		2.16
*Metal factor is defined as gold grade multiplied by core length (g/t Au*m)

 

Table 4: Drillhole coordinates for today's results.

Hole ID	Azimut (°)	Dip (°)	From (m)	To (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-20-186W1	167	-73	503	922	419	614615	5431022	344
PE-21-288W3	163	-74	518	1159	641	614746	5431103	345
PE-21-288W5	163	-74	467	1186	719	614746	5431103	345
PE-21-386W2	160	-72	600	951	351	614836	5431119	345
PE-22-524W8	143	-73	800	1353	553	614886	5431358	351
PE-23-723	155	-66	0	1084	1084	615085	5431195	354
PE-24-704EXT	10	-45	205	300	95	614444	5431280	346
PE-24-780	205	-73	0	274	274	614101	5431197	335
PE-24-782	310	-50	0	301	301	614156	5431057	333
PE-24-783	325	-72	0	298	298	614157	5431057	332
PE-24-803	175	-54	0	240	240	614440	5430835	341
PE-24-805	164	-61	0	312	312	614440	5430836	341
PE-24-806	173	-57	0	285	285	614489	5430848	342
PE-24-809	152	-62	0	393	393	614629	5430908	343
PE-24-810	173	-64	0	400	400	614464	5430901	342
PE-24-811	152	-60	0	489	489	614623	5430984	344
PE-24-812	160	-66	0	450	450	614498	5430898	342
PE-24-814	338	-45	0	216	216	614952	5430660	342
PE-24-815	180	-52	0	225	225	614600	5431064	345
PE-24-817	345	-48	0	249	249	615106	5430660	342
PE-24-818	178	-50	0	465	465	614381	5430941	342
PE-24-819	348	-67	0	294	294	615106	5430659	342
PE-24-820	184	-50	0	510	510	614320	5430984	340
PEG-24-733	210	-45	0	229	229	613581	5431072	326
PEG-24-774	174	-53	0	390	390	612566	5431244	329
PEG-24-776	214	-50	0	597	597	613055	5431299	328
PEG-24-799	178	-64	0	684	684	613955	5431218	331
PEG-24-800	206	-62	0	597	597	613898	5431177	330
PEG-24-821	184	-47	0	279	279	612920	5431022	327
PEG-24-822	195	-60	0	330	330	613101	5431013	326
PEG-24-824	190	-53	0	300	300	613101	5431012	326
PEG-24-825	180	-60	0	318	318	613956	5430805	330
PEG-24-826	185	-59	0	300	300	613113	5430986	325
PEG-24-828	201	-52	0	300	300	613114	5430986	325
PEG-24-830	185	-64	0	315	315	613133	5430983	326
PEG-24-834	170	-45	0	261	261	613250	5431118	326
PEX-24-197	145	-45	0	369	369	610351	5432141	313
PEX-24-237	357	-65	0	549	549	614671	5431302	346
PEX-24-240	7	-69	0	595	595	614669	5431302	346
PEX-24-244	344	-69	0	620	620	614670	5431302	346
PEX-24-255	2	-71	0	651	651	614553	5431265	346
PEX-24-262	183	-61	0	279	279	614274	5431452	344
PEX-24-264	175	-67	0	309	309	614317	5431460	346
PEX-24-265	0	-45	0	201	201	614313	5431314	344
PEX-24-266	177	-70	0	733	733	614811	5431700	354

 

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration.

The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert and ALS Canada Ltd, during the analytical process.

For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.

For base gold and base metals analysis, the samples were shipped to ALS Rouyn-Noranda. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62.

The Qualified Person has not completed sufficient work to verify the historical information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236396

FAQ

What were the highest-grade gold intersections reported by AMXEF in January 2024?

The highest-grade intersections included 69.03 g/t Au over 0.50m in the Upper High Grade Zone and 60.82 g/t Au over 0.70m in the Denise Zone.

What was the significance of AMXEF's discovery outside the Beaupré Block?

This was the first time visible gold mineralization was found outside the Beaupré Block in the basalts, demonstrating that gold mineralization extends beyond the main block and highlighting potential across the entire Perron property.

What were the longest gold intersections reported in AMXEF's JT Zone?

The JT Zone reported two significant long intersections: 0.61 g/t Au over 162.00m and 0.72 g/t Au over 123.00m.

How do AMXEF's new drill results compare to their PEA requirements?

The new high-grade intercepts showed metal factors significantly above the PEA threshold of 5.55 (g/t Au * m), which was based on a minimum diluted mining width of 3.7m and a cut-off grade of 1.50 g/t.