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Amex Drills 134.36 g/t Au over 1.8 m to Expand the Central Polymetallic Zone and Reports High-Grade Intercepts from Multiple Gold Zones
Newsfile Corp.
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Montreal, Quebec--(Newsfile Corp. - November 6, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that it has expanded the mineralized footprint of the Central Polymetallic Zone ("CPZ") (see number 9 in Figure 1 for location). The new high-grade intercept has the potential to extend the CPZ by 100 m beyond its currently defined area (see Figures 2-4). Additionally, recent drilling in the High Grade and Team Zones have intercepted mineralization outside of the Perron Project's disclosed resource (please see press release dated September 5, 2024) . This drilling was completed after the drillhole database cutoff on June 30, 2024 and the majority of intercepts fall outside of the modelled underground stopes and open pits (see Figures 5-7) meaning they have the potential to grow the existing resource. Finally, Amex has also successfully expanded the latest discovery on the Perron Project, the JT Zone. The mineralized dike of the JT Zone has now been defined to approximately 450 m of strike, with a thickness of 60 m, plunging to the east. The zone is located approximately 750 m to the north-northwest of the High Grade Zone ("HGZ") and approximately 600 m to northwest of the Team Zone. The same late diabase dike that cuts the HGZ can also be seen cutting the JT Zone (see Figure 8). The mineralized dike remains open to the east at depth (see Figure 9). For a full list of today's drill results and collar locations, please see Tables 1-5 below.

Since publishing the NI 43-101 Mineral Resource Estimate at Perron, the Amex Exploration team has been optimizing the drilling plan to target expansion of the open pit and underground stope shapes identified in the resource. Numerous areas across the project have been outlined for expansion due to a lack of drilling. This process will be even further refined when the mine plan is in hand from the upcoming Preliminary Economic Assessment (PEA), expected in the current quarter.

Amex currently has over 5,000 samples waiting for analysis across its range of lab partners but expects this backlog to begin decreasing over the coming weeks.

Drill Highlights Include:

Central Polymetallic Zone:

  • PE-24-801 returned 1.80 m of 134.36 g/t Au, including 0.50 m of 480.73 g/t Au at a vertical depth of ~435 m

High Grade Zone:

  • PE-21-347W6 returned 9.60 m of 5.06 g/t Au, including 0.50 m of 69.62 g/t Au at a vertical depth of ~1075 m

  • PE-24-797 returned 1.00 m of 20.40 g/t Au, including 0.50 m of 35.47 g/t Au at a vertical depth of ~380 m

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