Amex Expands Gratien Zone with the Best Intersect to Date of 76.69 g/t Au over 3.50 m

Newsfile Corp.
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Montreal, Quebec--(Newsfile Corp. - March 28, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is very pleased to announce that it has intersected the highest-grade gold composite to date on the Gratien Zone ("Gratien"), on the Perron Project in the Abitibi region of Quebec. The near-surface intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies, in follow up drilling to the previously announced results in the February 20, 2024 press release.

With a metal factor of 268.42, this intercept represents Amex's highest-grade composite outside of the High-Grade Zone. The Gratien Gold Zone has become a current focus for Amex Exploration to add significant value to the project. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal of Gratien, Figure 4 for images of gold mineralization in Gratien, Table 1 for assay results, and Table 2 for drillhole coordinates.

Highlights include:

Western Extension Gratien Zone

  • PEG-24-742 returned 3.50 m of 76.69 g/t Au, including 0.60 m of 431.72 g/t Au at a vertical depth of ~130 m in the Gratien Gold Zone;

  • PEG-24-738 returned 7.30 m of 8.16 g/t Au, including 0.50 m of 98.17 g/t Au at a vertical depth of ~160 m in the Gratien Gold Zone;

Results from PEG-24-742 represent the highest-grade intercept seen to date in the entirety of the Gratien Zone and is also now the highest metal factor composite outside of the High-Grade Zone. This newly discovered western extension of the Gratien Zone is rapidly expanding with the current drill program. By referring to the longitudinal of Gratien in Figure 3, it can be observed that these heavily mineralized centimetric quartz-carbonate veins were found in a previously untested portion of Gratien West and appear to be an at-depth extension of the existing zone. Gold mineralization is hosted in quartz-carbonate veins parallel to iron formations and straddling mafic intrusions within the Normétal South Block. Multiple mineralized lenses exist in the Gratien Zone (see Figure 2). The Upper Gratien is found within the rhyolite of the Beaupré Block, while several other kilometric mineralized lenses of the main Gratien are found within the andesite of the Normétal South Block. To date, this is the highest-grade mineralization that Amex has found situated outside of the Beaupré Block and opens up the entire Normétal South Block for additional discoveries (see Figure 1). Many additional drill holes have been planned to further define this new high-grade extension.

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