Amex Finds New Lens of Gold Mineralization in Deepest Drilling to Date in Western Gratien Gold Zone and Provides Update on Resource Estimate
Amex Exploration announced new gold mineralization findings in the deepest drilling to date in the western area of the Gratien Gold Zone at the Perron Project in Quebec. The discovery indicates a new lens of mineralization within the Upper Gratien Gold Zone, expanding the potential for further exploration and growth. Significant drill results include PEG-24-764 with 7.40m at 5.15 g/t Au, and PEG-24-767 with 1.20m at 20.28 g/t Au. The company plans 80,000 meters of diamond drilling in 2024 and aims to update its NI 43-101 resource estimate by the end of Q3, incorporating these new findings. The new lens appears on strike with the Grey Cat Zone, enhancing the structural potential of the project.
- New gold mineralization discovered at the deepest point in the western Gratien Gold Zone, expanding exploration potential.
- Significant drill results: PEG-24-764 with 7.40m at 5.15 g/t Au, including 1.70m at 17.32 g/t Au.
- Planned 80,000 meters of diamond drilling in 2024.
- Upcoming NI 43-101 resource estimate by the end of Q3, highlighting expansion potential.
- None.
Montreal, Quebec--(Newsfile Corp. - June 27, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that it has intersected gold mineralization in the deepest drilling to date in the western area of the Gratien Gold Zone ("Gratien"), on the Perron Project in the Abitibi region of Quebec (see Figure 1). The mineralization appears to be a new lens or 'stack' that make up the multiple stacked lenses of mineralization representing the Gratien Gold Zone (see Figure 2). The new drilling has opened up Gratien for significant expansion at depth, which also remains open to the west. With a total strike length of 1,200 m and growing, the Amex team believes Gratien has the potential to develop into an orebody of significant size and grade.
Notably, the new lens of mineralization was found within the rhyolite of the Upper Gratien Gold Zone, located within the Beaupré Block. The previous deepest intercepts in the western portion of Gratien were found within the andesite of the Normétal South Block. Amex believes this deep drilling has opened up a significant growth potential in the Upper Gratien Zone and appears to be on strike with the Grey Cat Zone, which is structurally compelling. 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 section of Gratien, Figure 4 for images of gold mineralization in Gratien, Table 1 for assay results, and Table 2 for drillhole coordinates.
Highlights include:
Deep Western Gratien Zone
- PEG-24-764 returned 7.40 m of 5.15 g/t Au, including 1.70 m of 17.32 g/t Au at a vertical depth of ~325 m in the Upper Gratien Gold Zone
- PEG-24-767 returned 1.20 m of 20.28 g/t Au, including 0.55 m of 42.88 g/t Au at a vertical depth of ~280 m in the Upper Gratien Gold Zone
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "We are impressed by the continuing growth in footprint that the Gratien Gold Zone is displaying. The zone had not been given much attention in previous years while the High-Grade and Denise Zones were being rapidly expanded upon, but with a focused drill program, Gratien is showing us what it can provide. Much more work remains to be done to continue expanding this exciting zone further at depth and to the west. The Company is excited by the prospect of higher-grade pockets within both the rhyolite of Upper Gratien and the andesite of Gratien Main. Our geological team on site has been working on improving the structural knowledge of the project. In addition, the newly discovered dike within the JT Zone is providing strong clues on the controls of the structural emplacement of gold mineralization within the entire Beaupré block and has given us exciting untested prospects that require drilling. The entirety of the Perron project remains ripe for further gold and VMS discoveries."
While today's results represent the deepest drilling to date in the western area of Gratien, all intercepts were made within 350 m of vertical depth or less, which remains to be relatively shallow. The Amex team is compelled by the expansion potential at Gratien with further deep drilling. Five drill rigs continue to operate on the Perron Project and the Company is forecasting 80,000 m of diamond drilling in 2024.
The Company also wishes to provide an update on the upcoming NI 43-101 resource estimate. Amex has decided that it will include the recently discovered JT Zone into the resource along with this year's drilling in the Gratien Zone. The Company is now aiming for a release towards the end of Q3 and remains on track for the release of the PEA in Q4. Amex would like to thank its shareholders for their continued patience as the Company strives to release a resource which highlights the growth potential of the Perron project.
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/2667/214587_cbab51ffd4e5a943_002full.jpg
Figure 2: Geological map of the Gratien Gold Zone, showing gold mineralization greater than 0.50 g/t Au. Two main gold zones occur at Gratien, hosted in an autoclastic rhyolite of the Beaupré Block (Upper Gratien) and in the mafic to intermediate volcanic rocks of the Normétal South Block (Gratien Main).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/214587_cbab51ffd4e5a943_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/2667/214587_cbab51ffd4e5a943_004full.jpg
Figure 4: Highlight photos of the Gratien Gold Zone in drillholes PEG-24-764 and PEG-24-767. 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/2667/214587_cbab51ffd4e5a943_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* (MF) | Zone |
| PEG-24-732 | 125.45 | 126.50 | 1.05 | 1.28 | 0.71 | ~90 | 1.34 | Upper Gratien |
| including | 125.45 | 126.00 | 0.55 | 1.42 | 1.00 | 0.78 | ||
| And | 134.50 | 135.00 | 0.50 | 0.60 | 0.30 | ~95 | 0.30 | |
| And | 162.80 | 163.30 | 0.50 | 0.55 | 0.10 | ~110 | 0.28 | |
| And | 178.00 | 179.00 | 1.00 | 0.50 | 0.10 | ~120 | 0.50 | |
| And | 194.50 | 195.00 | 0.50 | 0.75 | 0.70 | ~135 | 0.38 | |
| And | 217.50 | 219.00 | 1.50 | 1.02 | 0.50 | ~150 | 1.54 | |
| PEG-24-735 | 527.10 | 527.60 | 0.50 | 1.07 | 3.00 | ~470 | 0.54 | Upper Gratien |
| And | 572.20 | 584.50 | 12.30 | 0.59 | 0.88 | ~520 | 7.27 | |
| including | 572.20 | 574.00 | 1.80 | 2.04 | 3.19 | 3.68 | ||
| including | 583.00 | 584.50 | 1.50 | 1.23 | 1.00 | 1.85 | ||
| PEG-24-747 | 68.00 | 84.00 | 16.00 | 0.45 | 0.14 | ~55 | 7.24 | Upper Gratien |
| including | 68.00 | 68.70 | 0.70 | 1.74 | 0.10 | 1.22 | ||
| including | 76.80 | 79.00 | 2.20 | 0.65 | 0.10 | 1.44 | ||
| including | 82.00 | 84.00 | 2.00 | 1.89 | 0.40 | 3.79 | ||
| And | 129.00 | 130.00 | 1.00 | 1.16 | 0.20 | ~100 | 1.16 | |
| And | 151.00 | 151.50 | 0.50 | 0.71 | 0.70 | ~115 | 0.35 | |
| And | 158.00 | 159.40 | 1.40 | 0.58 | 0.40 | ~120 | 0.82 | |
| PEG-24-747 | 282.50 | 284.50 | 2.00 | 0.60 | 0.80 | ~210 | 1.21 | Gratien Main |
| PEG-24-748 | 67.20 | 67.70 | 0.50 | 0.77 | 0.10 | ~50 | 0.38 | Upper Gratien |
| And | 80.50 | 81.00 | 0.50 | 1.38 | 0.40 | ~65 | 0.69 | |
| PEG-24-748 | 291.30 | 292.00 | 0.70 | 2.13 | 0.30 | ~220 | 1.49 | Gratien Main |
| PEG-24-749 | 25.30 | 29.30 | 4.00 | 0.66 | 0.36 | ~20 | 2.64 | Upper Gratien |
| including | 28.80 | 29.30 | 0.50 | 4.25 | 1.00 | 2.13 | ||
| PEG-24-750 | 155.50 | 158.00 | 2.50 | 0.76 | 0.26 | ~125 | 1.90 | Gratien Main |
| including | 155.50 | 156.00 | 0.50 | 1.68 | 0.10 | 0.84 | ||
| including | 157.00 | 157.50 | 0.50 | 1.51 | 0.20 | 0.76 | ||
| PEG-24-751 | 196.90 | 198.50 | 1.60 | 2.90 | 0.86 | ~185 | 4.64 | Gratien Main |
| including | 197.40 | 198.00 | 0.60 | 6.82 | 1.70 | 4.09 | ||
| PEG-24-752 | 282.50 | 283.50 | 1.00 | 0.80 | 0.35 | ~180 | 0.80 | Gratien Main |
| including | 282.50 | 283.00 | 0.50 | 0.97 | 0.30 | 0.49 | ||
| including | 283.00 | 283.50 | 0.50 | 0.63 | 0.40 | 0.31 | ||
| And | 353.60 | 354.20 | 0.60 | 0.67 | 0.10 | ~220 | 0.40 | |
| PEG-24-753 | 184.80 | 185.30 | 0.50 | 15.99 | 0.10 | ~140 | 8.00 | Upper Gratien |
| PEG-24-753 | 227.80 | 228.30 | 0.50 | 1.39 | 0.10 | ~170 | 0.69 | Gratien Main |
| And | 331.00 | 332.00 | 1.00 | 0.73 | 0.10 | ~240 | 0.73 | |
| And | 344.30 | 344.80 | 0.50 | 1.11 | 0.70 | ~250 | 0.56 | |
| And | 361.50 | 362.00 | 0.50 | 0.81 | 0.30 | ~260 | 0.41 | |
| PEG-24-754 | 203.70 | 205.40 | 1.70 | 0.80 | 0.58 | ~190 | 1.37 | Gratien Main |
| including | 203.70 | 204.30 | 0.60 | 0.85 | 1.10 | 0.51 | ||
| including | 204.30 | 205.40 | 1.10 | 0.78 | 0.30 | 0.86 | ||
| PEG-24-755 | 39.50 | 40.00 | 0.50 | 14.54 | 0.70 | ~35 | 7.27 | Upper Gratien |
| PEG-24-755 | 121.50 | 122.50 | 1.00 | 2.30 | 0.20 | ~100 | 2.30 | Gratien Main |
| And | 125.10 | 125.75 | 0.65 | 1.17 | 0.30 | ~100 | 0.76 | |
| PEG-24-756 | 83.50 | 84.00 | 0.50 | 2.65 | 0.50 | ~70 | 1.33 | Upper Gratien |
| And | 98.50 | 100.00 | 1.50 | 0.92 | 0.10 | ~85 | 1.37 | |
| And | 160.70 | 167.50 | 6.80 | 0.57 | 0.19 | ~140 | 3.90 | |
| including | 162.90 | 165.20 | 2.30 | 1.44 | 0.35 | 3.31 | ||
| And | 176.50 | 178.00 | 1.50 | 1.08 | 0.40 | ~150 | 1.61 | |
| PEG-24-757 | 240.00 | 240.50 | 0.50 | 0.67 | 0.10 | ~180 | 0.33 | Upper Gratien |
| PEG-24-757 | 287.10 |
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FAQ
What recent discoveries has Amex Exploration made in the Gratien Gold Zone?
Amex Exploration discovered new gold mineralization in the deepest drilling to date in the western Gratien Gold Zone, with significant results including PEG-24-764 with 7.40m at 5.15 g/t Au and PEG-24-767 with 1.20m at 20.28 g/t Au.
What are the specifics of the recent drill results by Amex Exploration in the Gratien Gold Zone?
Significant results include PEG-24-764 with 7.40m at 5.15 g/t Au, including 1.70m at 17.32 g/t Au, and PEG-24-767 with 1.20m at 20.28 g/t Au, including 0.55m at 42.88 g/t Au.
What is the length of planned drilling for Amex Exploration in 2024?
Amex Exploration plans to conduct 80,000 meters of diamond drilling in 2024.
When will Amex Exploration release the updated NI 43-101 resource estimate for the Gratien Gold Zone?
The updated NI 43-101 resource estimate, incorporating recent discoveries, is expected to be released by the end of Q3 2024.
AMEX EXPLORATION INC ORD
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