Discovery of a 5th Gold-Bearing Zone on Perron
This new intersection in the last hole (PE200917) of this drilling campaign suggests that the presence of a fifth gold Zone is possible on the project. A first resource estimation of 70 000 ounces of gold on Zone 3 alone (see
The main objectives of the program were to define the extensions in surface and at depth of Zone 3 and to confirm the continuity of Zones 1 and Rhyolite in unexplored areas.
Important points of this last campaign are the following:
- Drill hole PE200912 cut a gold intersection with a value of 24,3g/t Au over 0,3m, similar to those in the Rhyolite Zone. It is located approximately 250m to the north west of this Zone. This area has not been previously investigated by drilling. - Drill hole PE200916 contains 3 intersections of 5,0g/t Au over 0,8m, 5,8g/t Au over 0,5m and 5,9g/t Au over 0,6m, corresponding to Zone 1. This area contains several gold-bearing Zones. - Drill holes PE200907 and 08 confirm the Rhyolite Zone with values of 0,6g/t Au over 0,7m and of 1,0g/t Au over 0,9m. The latter indicates a continuity of this Zone at depth below level 150m. This Zone is now defined over 250m laterally and at a depth of more than 200m. - Drill holes PE200913 and 14 confirm Zone 3 in the west central part of the Zone with values of 1,0g/t Au over 2,2m and of 0,6g/t Au over 1,4m respectively. These values match the defined resource in this area of the Zone. - Drill holes PE200910 and 15 confirm Zone 3 at 75m below the surface in the central part of the Zone with values of 2,3g/t Au over 0,6m and of 0,7g/t Au over 5,6m respectively. These intersections are in sections which add resources to this Zone. - Drill holes PE200909, 12 and 16 confirm Zone 3 at 275m below the surface in the central part of the Zone with values of 0,7g/t Au over 0,4m, of 0,7g/t Au over 0,8m and of 0,3g/t Au over 1,0m respectively. These intersections add resources to the Zone. - Drill hole PE200917 confirms Zones 1, 2 and 3 with values of 3,60g/t Au over 0,5m, 1,23g/t Au over 1,0m, and 4,22g/t Au over 1,0m. Furthermore, this hole intersected, from 271 to 281 meters, a silicified and mineralized Zone with a value of 11,89g/t Au over 1,0m. This intersection can possibly indicate the presence of a fifth gold-bearing Zone.
It is worth noting the fact that each Zone contains historically exceptionally high values of more than 30g/t Au which is normal for this type of gold-bearing deposit in the Abitibi.
The 2009 drill campaign shows 38 samples with values higher than 0,5 g/t Au. Nineteen of them have values higher than 1.0 g/t Au (see table below).
MINERALIZED SAMPLES (greater than) 1.0 g/t Au: ------------------------------------------------------------------------- Drill hole From (m) To (m) Sample No. Length (m) Au g/t ------------------------------------------------------------------------- PE200908 148,12 148,42 43795 0,30 1,08 ------------------------------------------------------------------------- PE200908 148,42 149,04 43796 0,62 1,04 ------------------------------------------------------------------------- PE200908 237,00 237,80 43821 0,80 1,07 ------------------------------------------------------------------------- PE200910 12,62 13,25 43897 0,63 1,48 ------------------------------------------------------------------------- PE200910 110,23 110,83 43912 0,60 2,33 ------------------------------------------------------------------------- PE200912 39,30 39,60 43998 0,30 24,31 ------------------------------------------------------------------------- PE200912 156,85 157,76 7526 0,91 1,66 ------------------------------------------------------------------------- PE200913 225,52 226,08 7637 0,56 1,23 ------------------------------------------------------------------------- PE200913 226,90 227,70 7640 0,80 1,71 ------------------------------------------------------------------------- PE200914 134,65 135,00 7678 0,35 1,41 ------------------------------------------------------------------------- PE200915 118,26 119,26 7692 1,00 1,26 ------------------------------------------------------------------------- PE200915 121,74 122,16 7697 0,42 1,13 ------------------------------------------------------------------------- PE200916 105,84 106,60 7817 0,76 4,97 ------------------------------------------------------------------------- PE200916 157,00 157,50 7829 0,50 5,83 ------------------------------------------------------------------------- PE200916 189,80 190,40 7834 0,60 5,92 ------------------------------------------------------------------------- PE200917 136,40 135,90 7917 0,50 3,60 ------------------------------------------------------------------------- PE200917 184,70 185,70 7922 1,00 1,23 ------------------------------------------------------------------------- PE200917 250,60 251,60 7936 1,00 4,22 ------------------------------------------------------------------------- PE200917 278,00 278,00 7946 1,00 11,89 -------------------------------------------------------------------------
Although this phase of drilling did reach the objectives as a whole, the interpretation regarding the continuity and extension of each of the Zones and particularly Zone 3, will require more work and understanding. In this regard, the company is systematically compiling all the drill results in order to establish, if required, a coherent structural model which would be used as an orientation tool in the continuation of drilling. Following this compilation work, Amex intends to pursue with a new aggressive drilling campaign to test the extension of this new Zone together with the other Zones on the property. This program will start as soon as possible.
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For further information: Jacques Trottier, (514) 866-6286
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