Amex Exploration Inc.: Drilling Has Resumed on the Perron Gold Property
March 03 2014 - 7:30AM
Marketwired Canada
Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is pleased
to report that Agnico Eagle Mines Limited (NYSE:AEM)(TSX:AEM) ("Agnico Eagle")
has commenced a new drilling program on AMEX 100% owned Perron Gold property
located at about 5km NW from Normetal mine-town in the Abitibi region of Quebec.
This drilling program is part of the Option Agreement ("OA") signed by Amex with
Agnico Eagle last year (see PR dated June 21st, 2013) and is following up on the
results obtained in their first phase of drilling announced earlier this year
(see PR dated February 4th, 2014). According to the OA, Agnico Eagle must
complete $4,500,000 of exploration expenses commitment over a three year period
to earn a 51% interest in the property. So far, the first year commitment was
completed with approximately $500,000 of work expenditures. The second year of
the OA is underway with a plan to execute a 7,000 meter drilling campaign in
three phases during the year with a budget of approximately $1,000,000.
The first phase of the drilling campaign is expected to consist of 5 drill holes
of approximately 350 to 800 meters deep each, totalling 2,700 meters. These
drills holes will be located near the discovery hole PE-2013-03 made by Amex
last year and will test the potential rhyolite-andesite contact zone and the
recently identified gold-anomalous bearing horizon located within the rhyolite
unit (see PR dated February 4th, 2014). This first phase currently underway is
planned to be completed by mid-April and results will be published as soon as
they will be available.
Jacques Trottier, PhD, President and CEO of Amex Exploration comments, "We are very
pleased that Agnico Eagle has resumed promptly their work program on the Perron
Gold property and we look forward to see the outcome. Personally, I do believe
that this property has just begun to show its real potential and I am convinced
that our partner has the skill and the experience to fully demonstrate it".
Amex Exploration Inc. is a junior mining exploration company listed on the TSX
Venture Exchange whose primary objective is to develop and bring into production
viable gold and base metal deposits.
Neither 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jacques Trottier, PhD
President and Chief Executive Officer
514-866-8209
Pierre Carrier
Chief Operation Officer
514-866-8209
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