Montreal, Quebec--(Newsfile Corp. - April 8, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF)("Amex" or "the Company") is pleased to announce results from its ongoing drill program at the Perron Project, located in northwestern Abitibi, Quebec (see Figure 1). Today's results from PEG-25-854 have expanded the mineralized footprint of the Central Polymetallic Zone (CPZ) to the west near surface by approximately 130 m (see Figures 2-3).
CPZ Drill Results:
39.06 g/t Au, 331.92 g/t Ag, 1.14% Cu, 3.38% Zn and 2.35% Pb over 1.30 m, including 48.27 g/t Au, 468.00 g/t Ag, 1.72% Cu, 4.48% Zn and 3.21% Pb over 0.80 m at a vertical depth of ~105 m - hole PEG-25-854
Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The Central Polymetallic Zone had not been drilled since the discovery of the High Grade Zone in late 2018, until last year's intercept of 134.36 g/t Au over 1.80 m (see November 6, 2024 Press Release), which extended the zone at depth down plunge. Today's results have extended the zone up plunge, westwards and towards surface and indicates that there is much more room for growth. As can be seen in Figure 4; by observing the gold to silver ratio, we can highlight zones of polymetallic mineralization. Our geology team has identified the potential for the extension of the CPZ to continue at depth, where there is a possible correlation with the Donna Copper Zone, found just north of the High Grade Zone. This model would match with other Volcanogenic Massive Sulfide (VMS) orebodies in the region such as the historical Normétal Mine, which was zinc-rich close to surface and more copper-rich at depth."
Central Polymetallic Zone
The CPZ is interpreted as a discordant linear volcanogenic hydrothermal feeder crosscut by gold bearing quartz-sulfide veins. The quartz-sulfide veins observed in PEG-25-854 (see Figure 5) are interpreted as syn-tectonic. The gold-rich veins are mineralized in chalcopyrite, sphalerite, pyrite, pyrrhotite, and galena. Silver values being almost ten times higher than gold is very typical of the CPZ. Higher gold grades are related to higher sulphide contents and are correlative either with zinc or copper values.
Since closing of the database on June 30, 2024 for the Mineral Resource Estimate and the Preliminary Economic Assessment, subsequent drilling has successfully intercepted both the up and down plunge extensions of the CPZ zone. PEG-25-854 has unlocked CPZ mineralization close to surface towards the west, while PE-24-801 found the potential downwards extension of the zone to the east (see November 6, 2024 Press Release).
Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.
Figure 2: Geological map of the Central Polymetallic Zone, showing its proximity to the Gratien and Grey Cat Gold Zones. Gold mineralization greater than 0.50 g/t Au is displayed.
Figure 3: Image displaying important recent drill results from PEG-25-854 and PE-24-801 that have successfully demonstrated the up and down plunge extensions of the CPZ. The 2024 resource model for the CPZ is displayed in yellow and was completed before the drilling of these holes.
Figure 4: Long section (looking to the north) displaying the gold to silver ratio of all assays at Perron that had a gold result of 0.5 g/t Au or higher. Higher silver values highlight zones that are more volcanogenic in nature. The potential for the gold-rich CPZ to continue at depth down plunge to the east is displayed.
Figure 5: Photos of the drill core from drill hole PEG-25-854 from the Central Polymetallic Zone. Gold bearing veins are polymetallic in nature, being rich in zinc (sphalerite) and copper (chalcopyrite).
Table 1: Precious and base metal assay results from the Central Polymetallic Zone at Perron.
Hole ID
From (m)
To (m)
Core Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
Zn (%)
Pb (%)
Vertical Depth (m)
Metal Factor* (g/t Au*m)
Zone
PEG-25-854
124.50
127.50
3.00
0.57
2.25
-
-
-
~85
1.70
Central Polymetallic Zone
And
130.50
132.00
1.50
0.51
1.30
-
-
-
~90
0.77
And
135.00
137.70
2.70
0.57
5.02
-
-
-
~95
1.53
And
148.80
150.10
1.30
39.06
331.92
1.14
3.38
2.35
~105
50.77
Including
148.80
149.30
0.50
24.31
95.00
0.22
1.62
0.98
12.16
Including
149.30
150.10
0.80
48.27
480.00
1.72
4.48
3.21
38.62
And
189.00
190.50
1.50
0.56
1.60
-
-
-
~135
0.84
*Metal factor is defined as gold grade multiplied by core length (g/t Au*m). Ag, Cu, Zn and Pb have not been included in the metal factor.
Table 2: Drillhole coordinates for today's results.
Hole ID
Azimut (°)
Dip (°)
From (m)
To (m)
Length (m)
Easting (m)
Northing (m)
Elevation (m)
PEG-25-854
175
-50
0
252
252
613541
5430904
330
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.
