Intersects 2.40% Copper, 0.72% Zinc, 0.27 g/t Gold and 22.15 g/t Silver Over 7.80m In Quebec
Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) has discovered a high-grade copper rich Volcanic Massive Sulphide (VMS) zone on its 100% owned Perron property located in the Abitibi region of Northern Québec.
At the beginning of 2021, while continuing its definition and expansion drilling on orogenic gold targets, mainly on the Eastern Gold Zone (EGZ), Amex launched a small drill programme to test the base metal potential of the Perron Property given its proximity to the historic Normétal Mine that produced 10.1 Mt @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag.
Executive Chairman, Jacques Trottier, said the mineralisation of the Amex discovery hole is similar to that of Normetal Mine. Drill Hole PEX-21-076, intersected a disseminated, semi-massive- to massive- sulphide zone that returned:
- 2.40% Cu, 0.72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m, including 3.92% Cu, 1.20% Zn, 0.39 g/t Au and 35.99 g/t Ag over 4.40 m, of which 0.90 m returned 6.94% Cu, 4.65% Zn, 0.30 g/t Au and 73.00 g/t Ag.
“During my academic career I have evaluated VMS deposits around the world, including the Normétal mine next door, and I am very excited by what I am seeing here at Perron,” Mr Trottier said.
“VMS deposits are one of the richest sources of copper, lead and zinc globally and often produce economic amounts of gold and silver as by-products. In addition to the discovery hole, we have core from a follow-up drill hole PEX-21-083, located about 70 metres deeper, which is at the lab for assay and which shares the same visual characteristics and core length as discovery hole PEX-21-076.
“Should this discovery lead to the development of a deposit it has the potential to be a company maker on its own. We are obviously very excited by this opportunity for Amex. Our VMS discovery is 100% accretive to the high-grade gold zones which we are currently drilling off at Perron and provides our shareholders and investors with exposure to highly sought-after copper-rich base metal discoveries.”
The Perron Property was explored for base metals since the 1960s by several mining companies. Drilling campaigns were mainly focused on the western caldera of the Normétal Volcanic Complex. More recently exploration focused on the Normétal Mine Sequence, which is present over more than 4.5 km within the Perron property.
During the re-evaluation of the VMS potential by Amex in early 2021, all historical data were compiled and re-evaluated to define the best drill targets available. The lithogeochemical data and the study of the historical logs have allowed a reclassification of the rocks and a redefinition of the stratigraphy of the Mine Sequence present on the Property.
Discovery hole PEX-21-076 intersected a disseminated- to massive- sulphide zone that returned 2.40% Cu, 0. 72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m, including 3.92% Cu, 1.20% Zn, 0.39 g/t Au and 35.99 g/t Ag over 4.40 m, of which 0.90 m returned 6.94% Cu, 4.65% Zn, 0.30 g/t Au and 73.00 g/t Ag.
The mineralised lens is dominated by a chalcopyrite-pyrrhotite-pyrite-(sphalerite) assemblage with typical VMS metal zonation near the core with chalcopyrite-pyrrhotite-(magnetite) at the base and pyrite-sphalerite at the top. It is hosted at the interface between an intermediate ash to lapilli tuff strongly altered (pipe like) in magnesian chlorite over about ten meters (footwall) and a rhyodacitic tuff (hanging wall) of transitional to calc-alkaline affinity.
The follow-up hole (PEX-21-083) also intersected this same disseminated- to massive- sulphide mineralisation of similar thickness and visually as rich in copper, at approximately 70 metres deeper.
This confirms the continuity of this mineralised system in terms of thickness and metal content and introduce the new discovery zone named the QF Zone.
The company is awaiting assay results on this follow-up hole and is preparing to expand upon the discovery with additional drilling. In addition, several drill holes have been pulsed (BHEM) to generate EM anomaly plates to guide our further definition of this mineralised lens which indicate possible extensions of the mineralization in all directions.
Nevertheless, Amex’s exploration strategy remains focused on its Eastern Gold Zone definition and expansion program with a goal of releasing a compliant resource estimate in early 2022.
For further information please visit: https://www.amexexploration.com/