Amex Exploration Inc. (TSXV: AMX) has made a gold zone discovery called the Team Zone on the Perron project in the Abitibi region of Quebec.
The near-surface Team Zone occurs ~600 m to the northeast of the High Grade Zone and ~300 m northeast of the E2 Gold Zone. To date, Amex has intercepted visible gold mineralization in 14 of 20 holes targeting the Team Zone over an area of approximately 200 m by 100 m.
“We are very excited by the amount of visible gold in the core of almost every hole drilled into the Team Zone. While we have been working to understand the size and geometry of this system, drilling has exceeded expectations,” Executive Chairman, Jacques Trottier, said.
“We have intercepted several panels of gold mineralization across a significant area of the north-eastern portion of the Beaupre Block.
“The Team Zone is delivering both high-grade gold in tension-type veins as well as nice wider composites of lower-grade mineralization. We look forward to the receipt of the fire assay results for the balance of today’s reported holes as well as all assays for the balance of the un-released drillholes, in order to get a fulsome understanding of this very interesting new discovery.
“This zone is an important new discovery as it represents potentially a new deposit with its own gold resources that could be adding to the other known zones on the still under-explored Perron property.
“Consequently, we have decided to assign a drill to continue exploration on the Team Zone while the other drills are still dedicated to the EGZ, including the HGZ and Denise definition and expansion, and regional exploration.”
The Team Zone is situated within the Beaupre rhyolite block, which is the host to the majority of gold identified to date on the Perron project. Gold mineralization is associated with quartz-carbonate veins and tension veinlets which are at times folded and/or brecciated. The gold-bearing quartz veins are found in both rhyolite and mafic intrusive bodies, unlike many of the other gold zones at Perron which are lithologically controlled.
The mineral assemblage however, comprising pyrite-pyrrhotite +/- sphalerite +/- chalcopyrite +/- visible gold, is similar to the Eastern Gold Zone mineralization.
Amex has drilled the Team Zone at multiple orientations, in order to identify the geometry of the system. As additional assay results are received and additional drillholes are completed, the 3-dimensional shape and size potential of the Team Zone will be revealed.
For further information please visit: https://www.amexexploration.com/