Amerix Intercepts Significant Gold at Limao in Initial Drilling “New Gold Discovery in Brazil“
14.06.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire) -- 06/14/12 -- Amerix Precious Metals Corp. (TSX VENTURE: APM) (FRANKFURT: NJGN) ('Amerix' or 'the Company') is pleased to announce that in its initial two drill holes, the Company has intercepted a significant zone of gold mineralization occurring in potassic altered and pyrite rich syenite intrusive rocks, at the Company's 100% owned Limao Gold Property, located in the Tapajos Gold Province, Para State, Brazil. The first hole LDH-01, drilled at an azimuth of 12 degrees and an angle of -60 degrees, intersected 12.67 metres grading 14.04 grams gold per tonne, from 28.33 to 41 metres down hole. The second hole LDH-02, drilled from the same drill platform at an azimuth of 72 degrees and an angle of -77 degrees, intersected 40.4 metres grading 3.51 grams gold per tonne, from 36.6 metres to 77 metres down hole and 3.32 metres grading 2.58 grams gold per tonne from 84 to 87.32 metres. Due to the early stage of the program and the nature of the mineralization, the Company's geologists suspect that this mineralized zone may be irregular in shape and true widths will be established as the drilling progresses. Holes have been drilled below LDH-01 and above LDH-02 to test the vertical continuity of the gold mineralization and the Company is awaiting assay results for those holes.TABLE 1
Hole # From To Interval Gold
(m) (m) (m) (g/t)
----------------------------------------------------------------------------
LDH-01 28.33 29.40 1.07 12.2
29.40 30.40 1.00 10.7
30.40 31.40 1.00 11.6
31.40 32.40 1.00 15.8
32.40 33.40 1.00 43.6
33.40 34.40 1.00 48.2
34.40 34.90 0.50 37.5
34.90 35.90 1.00 1.216
35.90 36.90 1.00 0.59
36.90 37.90 1.00 0.235
37.90 39.00 1.10 7.166
39.00 40.12 1.12 5.291
40.12 41.00 0.88 0.327
LDH-01 28.33 41.00 12.67 14.04
LDH-02 36.60 37.50 0.90 6.283
37.50 38.50 1.00 0.439
38.50 39.53 1.03 0.654
39.53 40.50 0.97 5.595
40.50 41.50 1.00 12.3
41.50 42.53 1.03 0.704
42.53 43.50 0.97 0.459
43.50 44.50 1.00 0.828
44.50 45.50 1.00 1.22
45.50 46.50 1.00 2.755
46.50 47.50 1.00 0.968
47.50 48.50 1.00 1.468
48.50 49.64 1.14 1.639
49.64 50.50 0.86 0.697
50.50 51.50 1.00 14.0
51.50 52.50 1.00 0.325
52.50 53.50 1.00 3.446
53.50 54.50 1.00 5.171
54.50 55.50 1.00 2.234
55.50 56.68 1.18 11.6
56.68 57.74 1.06 0.278
57.74 58.82 1.08 2.469
58.82 59.82 1.00 6.274
59.82 60.82 1.00 3.539
60.82 61.82 1.00 7.416
61.82 62.82 1.00 1.215
62.82 63.82 1.00 1.734
63.82 64.82 1.00 2.235
64.82 65.82 1.00 1.484
65.82 66.82 1.00 2.131
66.82 67.82 1.00 1.277
67.82 68.82 1.00 0.965
68.82 69.82 1.00 4.226
69.82 70.82 1.00 13.9
70.82 72.30 1.48 9.599
72.30 73.30 1.00 1.664
73.30 74.30 1.00 0.056
74.30 75.92 1.62 0.029
75.92 77.00 1.08 2.084
LDH-02 36.60 77.00 40.40 3.51
LDH-02 84.00 85.00 1.00 0.805
85.00 86.32 1.32 5.67
86.32 87.32 1.00 0.265
LDH-02 84.00 87.32 3.32 2.58
Amerix Chairman, Jeff Reeder states, "I have been intrigued by the syenite hosted gold mineralization identified around the old, water filled Limao Pit. We have finally been able to drill test our ideas and these first drill holes at Limao give us a great start to our program. The gold intersected at Limao is unique and we believe it represents a type of gold mineralization previously unrecognized in the region." Amerix has begun its drill campaign at the Company's Central Grid where it is drilling the Limao Pit target that has been defined by a northwest trending gold in soil anomaly (See Amerix News Release 2012-07, dated May 22, 2012). In addition, the Company has plans to drill test other high priority gold targets that have been identified by the 2011-12 programs of geochemical surveys, mapping, and sampling of old artisanal gold workings. Energold Perfuracoes Ltda, of Brazil is conducting the program with a single portable drill rig under the supervision of the Company's P. Geo. and Vice President of Corporate Development, Ryan Grywul.
Company President and CEO, Steve Brunelle reports, "Amerix has assembled a significant exploration property in excess of 18,000 hectares, centred at the Limao concessions. The Company has recently optioned the ground adjacent to the west and has been methodically adding key properties. We are hopeful that our model of syenite intrusive rocks either hosting, or proximal to significant gold mineralization, can be further verified as we continue our drilling. Amerix has assembled a great team of people to support the Company's exploration efforts here at Limao in the Tapajos district of Brazil."
Amerix will be posting results from the drill program at the Company's website (www.amerixcorp.com). A photo gallery of the Limao Gold Property is also available at the website.
Diamond drilling is accompanied by a quality assurance and quality control program that is managed by Amerix's geologists and includes industry standard documentation during data collection, reporting, and down hole azimuth and angle surveys. Drill core sample intervals were selected based on geological and mineralogical changes in the rock and averaged near 1-metre sample length within mineralized intervals and the immediate wall rock using sample lengths that ranged from a minimum of 0.5 metres to a maximum of 1.5 metres. NTW size rock drill core was split in half using a diamond saw preserving half of the split core for reference and half to be sent for gold analysis. Standard references, blanks, and quartered drill core duplicates were also inserted into the sample stream prior to transport. All samples were delivered to Acme Laboratories preparation facility in Itaituba, Brazil where the samples were crushed, pulverized, split, and shipped to Acme's Santiago, Chile laboratory for fire assay gold on a 30 gram split. Samples analyzing greater than 10 grams per tonne gold, or over the fire assay detection limit, were automatically re-analyzed for gold by gravimetric gold analysis. Both Acme Itaituba and Acme Santiago are registered under International Standards Organization's ISO 9001:2008 quality control program. The Company utilizes a chain of custody program overseen by its geologists concerning sample transport from the Limao property to Acme's Itaituba preparation facility.
Mr. Ryan Grywul, P. Geo., and Vice President, Corporate Development for Amerix, and a qualified person as defined in National Policy 43-101 is responsible for all technical information contained in this news release.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario company, managed by an experienced team, exploring for precious metals in Brazil. Amerix's objective is to create value for shareholders through the delineation and expansion of bedrock gold resources, and realization of value from placer and tailings gold resources at the Company's properties. Brazil has significant gold potential and is a proven mining-friendly country. The Company's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJGN".
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Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Management Discussion and Analysis.
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Contacts:
Amerix Precious Metals Corporation
Steve Brunelle, President and Chief Executive Officer
647-260-0470
steve.brunelle@amerixcorp.com
Amerix Precious Metals Corporation
Dan Hamilton, Chief Financial Officer
647-260-0470
dan.hamilton@amerixcorp.com
www.amerixcorp.com