Amex reports 87.14 g/t Au over 2.30m at Perron's Team Zone

Amex Exploration Inc. has announced assay results from follow-up and expansion drillholes on the Team Zone on the Perron project in the Abitibi region of Quebec. The Team Zone occurs ~600 m to the northeast of the High Grade Zone (HGZ) as shown in Figure 1. The Team Zone is currently outlined over 400 x 200 m laterally and from surface to a depth of approximately 400 m. Also reported are intercepts from the spatially associated 210 Gold Zone, which seems to follow a structural trend along the Normetal fault zone and may be genetically related to the Team Zone. See Figure 2 for a plan map of the overall zone and existing drill intercepts and Figure 3 for photos of the gold mineralization. See Table 1 for a list of the today's drilling results and Table 3 for drillholes coordinates.

In addition, Amex is pleased to announce assay results from the newly discovered N110 Gold Corridor which is located north of the Gratien Gold Zone, and the eastern extents of the property along the projected extension of the Beaupre Rhyolite, which is the host to the majority of the gold identified on the Perron project to date, see Figure 4 for location, Figure 5 for photos of N110 Gold Corridor mineralization, Table 2 for a list of drill results and Table 4 for drillhole coordinates. The N110 Gold Corridor was identified through a structural interpretation of the Company's magnetic dataset and scattered historical gold intercepts.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am pleased to see continued high grade mineralization from the Team Zone. Our drilling is focused on defining and expanding this important newly discovered zone. The mineralization starts at surface and may be suitable for open pit extraction."

Trottier continued, "We are also pleased to announce results from the N110 Gold Corridor which is a new mineralized area to the west of the Beaupre Block that can be followed over one kilometer of strike length. We are interested in this target for its potential to host additional possible high grade ore shoots given the amount of VG in the system. We will continue our exploration drilling on this area later in the year to determine if new gold zones can be identified." 

The Company also wishes to report that much of the Perron property is being logged as part of the Government of Quebec's Forest management protocols, following the Normetal-area wildfire. As a result, numerous roads are being constructed on the property providing Amex with unprecedented access to the Perron project.

"The logging work should be completed by the end of the fall along with the construction of tens of kilometres of logging roads providing us with year-round access to areas of the Perron property which were only previously accessible by helicopter. This access will significantly reduce our exploration costs in theses areas and provide us with access to numerous untested targets, many of which are geologically very exciting," said Trottier.

The Team Zone sits within the Beaupre Rhyolite, host to all significant gold occurrences at Perron, at the contact of the Normetal Fault and approximately 600 m northeast of the High Grade Zone. Gold mineralization occurs within a relatively massive and silicified rhyolite host rock, within quartz-carbonate veins/veinlets containing sphalerite, pyrite, minor chalcopyrite, molybdenite, and visible gold. Gold mineralization is also disseminated within the rhyolite host rock, in contrast with several other zones identified on the Project to date. Amex is currently conducting 50 m spaced (3 dimensionally) definition drilling of this system from surface to a depth of ~450 m vertically. Today's results are a part of the ongoing definition drilling program. The associated 210 Gold Zone results presented occur within the same drill holes that targeted the Team Zone. This is quite encouraging as the two closely located zones have the potential to be a part of the same gold system or mineralizing event. Note that the 210 Gold Zone intercept true widths and vein orientations are unknown, and further drilling optimization is required in order to define and understand this part of the system.

The N110 Gold Corridor was identified through a structural interpretation of the Company's magnetic dataset and scattered gold intercepts, including, 3.18 g/t Au over 4.50 m in hole PEX-21-054 and 2.56 g/t Au over 3.30 m in hole PEX-21-065. The N110 mineralization is characterized by numerous veins and veinlets that occur within massive silicified Beaupre rhyolite. The majority of the holes targeting this corridor have intercepted visible gold mineralization, which is encouraging as it indicates a very fertile mineralizing fluid. The Company is conducting a review of the data and drill core with an aim to test for High Grade Zone type ore shoots within this widespread area of visible gold mineralization.

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