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MI3 Financial Communications Inc.

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MI3 is a Montreal-based new-age financial communications company geared for today’s fast-paced global economy. MI3’s ......

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High Grade Gold Intersected in Three Gold Zones at Perron; Increases Gold Corridor to 3 Kilometers


High Grade Gold Intersected in Three Gold Zones at Perron; Increases Gold Corridor to 3 Kilometers

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• Up to 114.96 g/t Au over 0.50 m and 91.06 g/t Au over 0.70 m in Grey Cat Gold Zone
• Grey Cat Extended by 50 m Along Strike
• High Grade Gold Intersected in Eastern Extension of Gratien Gold Zone
• Lateral Step Out Holes Intersected Visible Gold up to 600m east of Eastern Gold Zone

MONTREAL, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (“Amex or the Company”) (TSX-V: AMX, FRA: MX0, OTCQX: AMXEF) is very pleased to report the results of several drill holes on its Perron property in northwestern Quebec, Canada (see figure 1.) A complete list of results is provided in table 1. Amex provides all drill data on its website at http://www.amexexploration.com/perron/drill-data-room/


The drill results include intersections from the Grey Cat Gold Zone, (Grey Cat,) Eastern Gold Zone (EGZ,) and the Gratien Gold Zone (Gratien,) as well as on-strike exploration targets from EGZ and Grey Cat.


Figure 1: Perron Property with mineralized zones: https://www.globenewswire.com/NewsRoom/AttachmentNg/7a78747b-94ef-46a2-9c83-a8434a5ed520


At Grey Cat, drilling extended the strike length of the zone by 50 m laterally and 50 m vertically. The Grey Cat sits about 650 meters northeast of the Gratien to the north of the regional Perron Fault. The new Grey Cat is a near-surface zone, with gold mineralization starting at a vertical depth of only 14 m from surface, and is open to depth and along strike, making this target amenable to open pit mining methods. The Grey Cat area has seen very little exploration to date, making this a very attractive future exploration target. Highlight drill results include



  • Hole PEG-19-94 intersected 42.72 g/t Au over 1.4 m including 114.96 g/t Au over 0.50 m.

  • Hole PEG-19-103 intersected 23.95 g/t Au over 2.70 m including 91.06 g/t Au over 0.70 m.


At Gratien,



  • Hole PE-19-86 intersected 16.63 g/t Au over 0.95 m in the Eastern extensions of the known zones and over 100 m from historical hole 163-14-005 (drilled by Agnico Eagle Mines Limited) which intersected 5.27 g/t Au over 5.00 m.

  • Hole PEG-19-88 intersected a near-surface zone at a vertical depth of ~40 m which returned 62.81 g/t Au over 0.50 m located 45 m updip of previously released hole PEG-19-72 that intersected 75.76 g/t Au over 0.50 m.


At EGZ, drilling continues to support a high-grade zone within a broader panel of disseminated gold at the Denise Zone



  • Hole PE-19-91 intersected the Denise Zone with an interval grading 3.49 g/t Au over 7.40 m including 9.33 g/t Au over 2.30 m at a vertical depth of ~525 m which is located 50 m west of previously released PEG-19-82 which returned 178.16 g/t Au over 1.20 m.


Also at the EGZ in exploration drilling, three step-out drillholes were completed testing the on-strike extension of the EGZ at 300, 450, and 600 metres east of the known mineralized zones. Each of the three holes successfully intersected gold mineralized zones with two holes having visible gold, including



  • Hole PE-19-97, a 300 m stepout from the EGZ, intersected visible gold in an interval of 1.05 g/t Au over 6.00 m including 9.38 g/t Au over 0.50 m at a vertical depth of ~240 m.

  • Hole PE-19-99, a 450 m stepout from the EGZ, intersected an interval grading 2.90 g/t Au over 1.20 metres and 1.11 g/t Au over 1.00 metres.

  • Hole PE-19-100, a 600 m stepout from the EGZ, intersected visible gold within an interval grading 1.17 g/t Au over 2.50 metres including 3.11 g/t Au over 0.80 metres.


The drill results, reported from several zones across Perron’s gold-bearing corridor, continue to demonstrate the robust nature of the gold zones identified to date on the Perron property. Continued exploration will focus on the definition and extent of these known zones as well as testing along strike of the contact of the gold-bearing Beaupré Rhyolite which is comprised of the 7 km long southern Perron fault and the 8.4 km long northern Normetal fault, both of which are known to host high-grade gold mineralization.


Jacques Trottier, PhD, Chairman of Amex Exploration, commented, “I am very pleased that all three gold zones continue to deliver meaningful results as we look to build multiple gold resources on Perron. The Grey Cat was recently discovered during this summer’s regional exploration drilling program. We have intersected excellent gold mineralization in this zone since its discovery and I am very excited by the potential there given that it is near surface, the area is underexplored, and the zone is open in all directions.”


Trottier continued, “At Gratien, I see equal promise from our current round of drilling on this target which also began in the summer. The Gratien is a kilometer-long set of mineralized structures previously explored as a bulk tonnage gold target. Our recent reinterpretation and 3D modelling directed our drills to areas of high-grade lenses that show similarities to the EGZ. All our drilling in this area is accretive and is building upon historical work. In addition to the near-surface lower grade lenses of gold mineralization, the high grade zone can now be traced over a sub-horizontal strike of 360 metres at Gratien and is in close proximity to surface. Finally at the EGZ, this round of drilling continues to support our reinterpretation of the Denise Zone where we are seeing the gold mineralization strengthening at depth with a high grade zone developing within a broader panel of disseminated gold. In addition, our aggressive step out program is also extremely encouraging, with gold mineralization being intersected up to 600 m to the east of the EGZ  adding strike length to the gold mineralized corridor which in now roughly 3 km laterally. All said, this has been an extremely successful drill campaign to date and I look forward to testing new target areas along the lateral extensions of this favourable gold corridor as outlined by our exploration team. We will be providing more updates on a regular basis given that we can drill and explore year-round at Perron.”


Table 1: Assay results from Grey Cat, Gratien, and EGZ zones on the Perron project


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=AMX%3ACA&qmodStoryID=8159495130621767 

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• Up to 114.96 g/t Au over 0.50 m and 91.06 g/t Au over 0.70 m in Grey Cat Gold Zone
• Grey Cat Extended by 50 m Along Strike
• High Grade Gold Intersected in Eastern Extension of Gratien Gold Zone
• Lateral Step Out Holes Intersected Visible Gold up to 600m east of Eastern Gold Zone

MONTREAL, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (“Amex or the Company”) (TSX-V: AMX, FRA: MX0, OTCQX: AMXEF) is very pleased to report the results of several drill holes on its Perron property in northwestern Quebec, Canada (see figure 1.) A complete list of results is provided in table 1. Amex provides all drill data on its website at http://www.amexexploration.com/perron/drill-data-room/

The drill results include intersections from the Grey Cat Gold Zone, (Grey Cat,) Eastern Gold Zone (EGZ,) and the Gratien Gold Zone (Gratien,) as well as on-strike exploration targets from EGZ and Grey Cat.

Figure 1: Perron Property with mineralized zones: https://www.globenewswire.com/NewsRoom/AttachmentNg/7a78747b-94ef-46a2-9c83-a8434a5ed520

At Grey Cat, drilling extended the strike length of the zone by 50 m laterally and 50 m vertically. The Grey Cat sits about 650 meters northeast of the Gratien to the north of the regional Perron Fault. The new Grey Cat is a near-surface zone, with gold mineralization starting at a vertical depth of only 14 m from surface, and is open to depth and along strike, making this target amenable to open pit mining methods. The Grey Cat area has seen very little exploration to date, making this a very attractive future exploration target. Highlight drill results include

  • Hole PEG-19-94 intersected 42.72 g/t Au over 1.4 m including 114.96 g/t Au over 0.50 m.
  • Hole PEG-19-103 intersected 23.95 g/t Au over 2.70 m including 91.06 g/t Au over 0.70 m.

At Gratien,

  • Hole PE-19-86 intersected 16.63 g/t Au over 0.95 m in the Eastern extensions of the known zones and over 100 m from historical hole 163-14-005 (drilled by Agnico Eagle Mines Limited) which intersected 5.27 g/t Au over 5.00 m.
  • Hole PEG-19-88 intersected a near-surface zone at a vertical depth of ~40 m which returned 62.81 g/t Au over 0.50 m located 45 m updip of previously released hole PEG-19-72 that intersected 75.76 g/t Au over 0.50 m.

At EGZ, drilling continues to support a high-grade zone within a broader panel of disseminated gold at the Denise Zone

  • Hole PE-19-91 intersected the Denise Zone with an interval grading 3.49 g/t Au over 7.40 m including 9.33 g/t Au over 2.30 m at a vertical depth of ~525 m which is located 50 m west of previously released PEG-19-82 which returned 178.16 g/t Au over 1.20 m.

Also at the EGZ in exploration drilling, three step-out drillholes were completed testing the on-strike extension of the EGZ at 300, 450, and 600 metres east of the known mineralized zones. Each of the three holes successfully intersected gold mineralized zones with two holes having visible gold, including

  • Hole PE-19-97, a 300 m stepout from the EGZ, intersected visible gold in an interval of 1.05 g/t Au over 6.00 m including 9.38 g/t Au over 0.50 m at a vertical depth of ~240 m.
  • Hole PE-19-99, a 450 m stepout from the EGZ, intersected an interval grading 2.90 g/t Au over 1.20 metres and 1.11 g/t Au over 1.00 metres.
  • Hole PE-19-100, a 600 m stepout from the EGZ, intersected visible gold within an interval grading 1.17 g/t Au over 2.50 metres including 3.11 g/t Au over 0.80 metres.

The drill results, reported from several zones across Perron’s gold-bearing corridor, continue to demonstrate the robust nature of the gold zones identified to date on the Perron property. Continued exploration will focus on the definition and extent of these known zones as well as testing along strike of the contact of the gold-bearing Beaupré Rhyolite which is comprised of the 7 km long southern Perron fault and the 8.4 km long northern Normetal fault, both of which are known to host high-grade gold mineralization.

Jacques Trottier, PhD, Chairman of Amex Exploration, commented, “I am very pleased that all three gold zones continue to deliver meaningful results as we look to build multiple gold resources on Perron. The Grey Cat was recently discovered during this summer’s regional exploration drilling program. We have intersected excellent gold mineralization in this zone since its discovery and I am very excited by the potential there given that it is near surface, the area is underexplored, and the zone is open in all directions.”

Trottier continued, “At Gratien, I see equal promise from our current round of drilling on this target which also began in the summer. The Gratien is a kilometer-long set of mineralized structures previously explored as a bulk tonnage gold target. Our recent reinterpretation and 3D modelling directed our drills to areas of high-grade lenses that show similarities to the EGZ. All our drilling in this area is accretive and is building upon historical work. In addition to the near-surface lower grade lenses of gold mineralization, the high grade zone can now be traced over a sub-horizontal strike of 360 metres at Gratien and is in close proximity to surface. Finally at the EGZ, this round of drilling continues to support our reinterpretation of the Denise Zone where we are seeing the gold mineralization strengthening at depth with a high grade zone developing within a broader panel of disseminated gold. In addition, our aggressive step out program is also extremely encouraging, with gold mineralization being intersected up to 600 m to the east of the EGZ  adding strike length to the gold mineralized corridor which in now roughly 3 km laterally. All said, this has been an extremely successful drill campaign to date and I look forward to testing new target areas along the lateral extensions of this favourable gold corridor as outlined by our exploration team. We will be providing more updates on a regular basis given that we can drill and explore year-round at Perron.”

Table 1: Assay results from Grey Cat, Gratien, and EGZ zones on the Perron project

Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=AMX%3ACA&qmodStoryID=8159495130621767 


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