Amex to Consolidate Team Zone with 210 and E3 Gold Zones to Form a 1.4 km Mineralized Corridor and Announces Further Drill Results

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Amex Exploration Inc. announces the consolidation of Team Zone with 210 and E3 Gold Zones to form a 1.4 km mineralized corridor on the Perron Project. The combined gold zones will be named Team Zone, reflecting geological similarities and further drill results. The decision aims to simplify the modeling process, save time, and unlock the value of the larger corridor. Significant drill highlights include high-grade gold intersections in both 210 and Team Gold Zones. The Company plans to expand drilling on the consolidated zone, believing there is more potential to be discovered.

Montreal, Quebec--(Newsfile Corp. - April 24, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that after continuing to advance its geological understanding on the Perron Project, further drilling identified similarities between the Team Zone, 210 and E3 gold zones, therefore making it logical to combine the three. The consolidated gold zones will retain the name Team Zone, which creates one larger mineralized corridor straddling the Normétal fault on the northeastern side of the Beaupré Block (See Figure 1). The decision is geologically driven as all three zones display remarkable similarity in their lithologies, structures and mineralization style (Figure 5).

The Company is also pleased to announce further drill results from these zones (See Figure 4 and Tables 1 and 2). With up to 14 known zones across the Perron property, this decision will improve simplicity and will save time in the ongoing modelling process and drill data compilation.

Drill Highlights Include:

210 Gold Zone (which from now will form part of Team Zone)

• PE-22-586 returned 11.50 m of 4.57 g/t Au, including 3.00 m of 10.72 g/t Au at a vertical depth of ~115 m in the 210 Gold Zone;
• PE-23-639 returned 19.10 m of 3.23 g/t Au, including 1.40 m of 29.76 g/t Au at a vertical depth of ~190 m in the 210 Gold Zone;

Team Zone

• PE-23-680 returned 7.30 m of 4.97 g/t Au, including 0.50 m of 54.12 g/t Au at a vertical depth of ~35 m in the Team Gold Zone;
• PE-23-702 returned 2.10 m of 23.10 g/t Au, including 0.55 m of 83.98 g/t Au at a vertical depth of ~270 m in the Team Gold Zone;

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The combination of these three gold zones is an important milestone on the Perron Project. As we've continued to add more drilling into this area and as our modelling work has advanced, it became clear that the three zone were geologically, structurally and spatially related. The larger consolidated Team Zone now covers a strike length of approximately 1.4 km and remains open to the northwest, southeast and at depth. Amex plans to add significant meterage to the Team Zone as we believe we have only just begun to unlock its value."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the newly consolidated Team Gold Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_002full.jpg

Figure 2: Geological map of the Team Gold Zone, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_003full.jpg

Figure 3: Image showing the modelled wireframes of the 210 Zone, the Team Zone and the E3 Zone, displaying the similarities of mineralization orientations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_004full.jpg

Figure 4: Highlight photos of the Team Zone in drillholes PE-23-639, PE-23-680, PE-23-702 and PE-23-717. Gold mineralization is associated with tension style quartz-sulphide veins and contains visible gold. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_005full.jpg

Figure 5: Gold bearing quartz-sulfide veins from the 210 Gold Zone, Team Zone and E3 Gold Zone. All gold zones share similar mineralization-style.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_006full.jpg

Table 1: Assay results from the Team Zone at Perron.

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	Metal Factor* (g/t Au *m)	Zone
PE-22-524	659.75	661.75	2.00	7.43	0.80	~625	14.86	210
PE-22-532W1	518.30	523.50	5.20	5.01	0.58	~490	26.07	210
Including	518.30	519.00	0.70	33.39	3.00		23.37
PE-22-581	198.50	214.00	15.50	1.22	0.49	~140	18.94	210
Including	212.50	214.00	1.50	7.68	2.70		11.52
PE-22-586	127.50	129.90	2.40	2.14	0.10	~90	5.13	210
And	158.50	170.00	11.50	4.57	0.64	~115	52.54
Including	163.00	166.00	3.00	10.72	1.31		32.17
And	308.70	319.00	10.30	2.95	0.30	~215	30.39
Including	308.70	311.50	2.80	9.42	0.85		26.38
PE-23-639	148.00	167.10	19.10	3.23	0.28	~190	61.71	210
Including	156.60	158.00	1.40	29.76	1.60		41.66
PE-23-658	66.15	79.80	13.65	2.37	0.85	~60	32.40	210
Including	73.00	74.00	1.00	5.90	0.60		5.90
Including	75.00	75.75	0.75	6.14	1.10		4.61
Including	79.00	79.80	0.80	7.78	6.30		6.22
PE-23-667	76.50	90.70	14.20	0.60	1.81	~70	8.48	210
And	102.00	109.50	7.50	5.60	0.31	~85	41.96
Including	106.50	108.00	1.50	22.39	1.00		33.59
And	161.60	163.50	1.90	2.79	0.32	~135	5.29
And	287.50	294.00	6.50	5.22	0.11	~240	33.96
Including	288.00	289.50	1.50	18.31	0.10		27.47
PE-23-676	19.00	25.00	6.00	1.78	0.10	~15	10.70	210
PE-23-679	97.00	110.50	13.50	0.76	0.23	~85	10.28	210
Including	98.40	99.15	0.75	8.43	2.20		6.32
PE-23-689	525.70	526.20	0.50	18.67	1.60	~435	9.34	210
PE-23-690	127.50	141.00	13.50	1.20	0.21	~115	16.16	210
Including	134.75	135.25	0.50	9.91	0.90		4.96
PE-23-680	45.20	52.50	7.30	4.97	0.73	~35	36.25	Team Zone
Including	45.20	45.70	0.50	54.12	1.40		27.06
PE-23-683	79.30	83.00	3.70	2.25	0.67	~65	8.33	Team Zone
And	185.30	186.00	0.70	7.75	0.30	~160	5.43
And	410.00	411.50	1.50	1.55	0.90	~350	2.33
PE-23-702	321.50	323.60	2.10	23.10	0.81	~270	48.50	Team Zone
Including	322.35	322.90	0.55	83.98	2.70		46.19
PE-23-717	163.00	164.00	1.00	3.22	0.30	~135	3.22	Team Zone
And	478.00	481.00	3.00	6.12	1.80	~390	18.37
Including	478.00	478.50	0.50	33.36	5.60		16.68
And	574.20	575.25	1.05	28.28	14.53	~465	29.70

 

*Metal Factor is defined as gold grade multiplied by core length.

Table 2: Drillhole coordinates for today's results.

Hole ID	Azimuth (°)	Dip (°)	From (m)	To (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-22-524	143	-73	0	1645	1645	614886	5431358	349
PE-22-532W1	137	-76	0	1878	1878	614964	5431427	355
PE-22-581	135	-45	0	601	601	614887	5431358	349
PE-22-586	135	-45	0	505	505	614860	5431281	347
PE-23-639	130	-60	0	351	351	614847	5431123	344
PE-23-658	40	-60	0	351	351	614846	5431271	346
PE-23-667	130	-60	0	335	335	614884	5431316	348
PE-23-676	40	-60	0	321	321	614997	5431139	348
PE-23-679	130	-60	0	352	352	614918	5431205	347
PE-23-680	310	-60	0	520	520	615260	5430927	349
PE-23-683	120	-60	0	532	532	615263	5430925	349
PE-23-689	310	-60	0	550	550	615217	5430947	348
PE-23-690	130	-60	0	343	343	614914	5431272	348
PE-23-702	130	-60	0	411	411	615353	5430871	349
PE-23-717	300	-60	0	597	597	615531	5430732	348

 

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 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. 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/206644

FAQ

What is the significance of Amex Exploration Inc. consolidating Team Zone with 210 and E3 Gold Zones?

The consolidation aims to create a larger mineralized corridor on the Perron Project, simplifying the modeling process and unlocking the value of the combined zones.

What are some drill highlights from the consolidation?

Significant drill highlights include PE-22-586 returning 11.50 m of 4.57 g/t Au in the 210 Gold Zone and PE-23-680 returning 7.30 m of 4.97 g/t Au in the Team Gold Zone.

Who commented on the consolidation of the three gold zones?

Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented on the importance of combining the three gold zones on the Perron Project.

What is the current strike length of the consolidated Team Zone?

The larger consolidated Team Zone now covers a strike length of approximately 1.4 km and remains open to the northwest, southeast, and at depth.

What is the plan regarding drilling on the consolidated Team Zone?

Amex plans to add significant meterage to the Team Zone as they believe they have only just begun to unlock its value.