AMEX DRILLS 44.22 G/T AU OVER 9.10 M IN PE-20-171 AND 9.75 G/T AU OVER 10.45 M IN PE-20-173 AT PERRON

MONTREAL, QC / ACCESSWIRE / July 16, 2020 / Amex Exploration Inc. (“Amex or the Company”) (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is very pleased to report additional high grade gold drill results from its six-drill, 200,000 m drill program on its 100% owned Perron property in northwestern Quebec, Canada (see Figure 1). Today’s results are from the Eastern Gold Zone, which is one of four known zones on the Perron Property. A select 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/

In the Eastern Gold Zone (“EGZ”), the two drill holes reported today successfully demonstrated the depth and eastern extension as well as continuity of the High Grade Zone (“HGZ”) (Figure 2). Hole PE-20-171 is one of the highest grade holes drilled to date at Perron. PE-20-171 returned 44.22 g/t Au over 9.10 m, representing a metal factor of 402.41 g/t Au x m. This intercept is located approximately 600 metres vertically below the highest grade interval reported to date of 393.33 g/t Au over 1.70 m in hole PE-19-22. In addition, hole PE-20-173 returned a value of 9.75 g/t Au over 10.45 m. These holes have expanded the known high grade body of the HGZ.

The Company also wishes to report that it continues to intercept visible gold mineralization in all pending drill holes, which have targeted the HGZ, Denise Zone, the westward extension of the Denise Zone and the Grey Cat Zone. Assays will be published as they are received.

Jacques Trottier, Executive Chairman of Amex said, “Both holes clearly demonstrate the high grade vertical continuity of the HGZ at the Eastern Gold Zone that spans over more than 800 metres of vertical depth. Our goal is to replicate this high grade zone elsewhere on the property and there are other zones which are showing excellent potential to host high grade gold at depth such as the Grey Cat Zone.”

Figure 1: Perron Property with mineralized zones

For enhanced image, click here

Figure 2: EGZ High Grade Zone Long Section

For enhanced image, click here

Table 1: Assay Results from the Eastern Gold Zone on the Perron Project

Hole IDFrom (m)To (m)Length (m)Au (g/t)Zone
PE-20-171831.90841.009.1044.22HGZ
Including835.70836.200.5012.78
Including836.20837.000.8013.78
Including837.60838.400.80456.28
PE-20-173552.00562.4510.459.75HGZ
Including556.95557.750.8025.23
Including561.70562.450.75101.74


* Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be 70 to 75% in Gratien Upper, 75 to 90% in Gratien Main, 45 to 75% in EGZ, and 70 to 75% in Grey Cat of the presented widths. NSR = No Significant Results

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have 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 Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol includes the insertion of a blank or standard every 10 samples on average, in addition to the regular insertion of blanks, duplicates, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

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