Amex Reports 3.43% Cu, 34.00 g/t Ag, 1.80% Zn and 0.30 g/t Au over 20.80 m From QF Zone

20 March 2024

Amex Exploration Inc.


Amex Exploration Inc. announce assay results from a metallurgical hole drilled down dip in the QF Zone that reported 3.43% Copper, 34.00 g/t Silver, 1.80% Zinc and 0.30 g/t Gold over 20.80 m. (see Table 1 for full results). A secondary mineralized lens also returned 1.19% Copper, 7.44 g/t Silver, 0.15% Zinc and 0.11 g/t Gold over 15.70 m. The QF Zone sits approximately 200 m to the northeast of the Team Gold Zone and is a volcanic massive sulfide (VMS) body, which lies approximately 5 km from the past producing Normétal Mine that produced over 10.1 Mt of 2.24% Cu, 5.41% Zn, 0.53 g/t Au and 44.45 g/t Ag as shown in Figure 1. The QF Zone is one of Amex’s most recent discoveries and was found within the same geological unit that hosted the Normétal Mine. The Perron project is situated approximately 120 km by paved highway from the Glencore Horne Smelter in Rouyn Noranda. See Figures 2 & 3 for a plan map and long section of the drill intercepts and Figure 4 for photos of the polymetallic sulphide mineralization. See Table 1 for a complete list of results and Table 2 for drill hole coordinates.

“While we do not plan to include the QF Zone in our upcoming resource, the metallurgy is still very important to us as this zone represents additional upside to the project. We have only just begun to define this target which is looking very similar to the past-producing Normétal Mine. The main important difference between our deposit and the historical mine, is that our system is more copper-rich rather than more zinc-rich.”

Jacques Trottier, Chairman of the Board of Amex Exploration

Assays results for this metallurgical hole were obtained from ALS Laboratories in Val d’Or. Metallurgical test work on these composites will now begin, with results expected in the coming months.

Figure 1: Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the QF Zone. Modified from Lafrance et al., 2000.
Figure 2: Geological map displaying the location the QF Zone along the Normétal Mine Sequence at Perron with the collar location of today’s drillhole.
Figure 3: Long section of QF Zone with today’s released hole labelled in green. A selection of previously announced results are labelled in black. Assay results are presented in core length (m).
Figure 4: Highlight photos of the massive to disseminated sulphide Cu-rich lens intersected in drillhole PEX-23-189W1.
Abbreviations: Cp – Chalcopyrite, Sp – Sphalerite, Po – Pyrrhotite

Table 1: Assay results of today’s released metallurgy hole from the QF Zone at Perron

Hole IDFrom

Table 2: Collar details of today’s released hole from the QF Zone at Perron

Hole IdAzimuth

Qualified Person and QAQC

Jerôme Augustin P.Geo. Ph.D., (OGQ 2134), an independent “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the “Qualified Person”), 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 protocol include insertion of one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62.

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.

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James Hyland, MiningIR