Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ('Amex or the Company') is pleased to announce 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 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.
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 announced 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.
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 Normetal (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.
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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.
AMEX EXPLORATION INC. 
