Amerix Reports Additional Gold Results from Drilling at Limao Property in Brazil
10.07.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire) -- 07/10/12 -- Amerix Precious Metals Corp. (TSX VENTURE: APM) (FRANKFURT: NJGN) ('Amerix' or 'the Company') is pleased to announce results for three additional holes at the Company's 100% owned Limao Gold Property, located in the Tapajos Gold Province, Para State, Brazil. The location of these holes and the previously reported holes LDH-01 and LDH-02 is presented in Figure 1. Hole LDH- 03, drilled at an Azimuth of 77 degrees and an angle of -48 degrees, intersected 23.6 metres grading 6.35 grams gold per tonne, from 25.95 to 49.55 metres down hole. This hole was drilled from the same drill platform as previously reported Hole LDH-02 (News Release 2012-09) and is represented on the Section A - A'. Assay results are presented in Table 1. Hole LDH-04, drilled at an Azimuth of 10 degrees and an angle of -72 degrees intersected 9.89 meters grading 8.2 grams gold per tonne, from 34.31 metres to 44.2 metres down hole. This hole was drilled from the same platform as previously reported Hole LDH-01 and is represented on Section B - B'. Assay results are presented in Table 1. These two holes were drilled to verify the vertical continuity of the gold mineralization reported earlier in holes LDH-01 and LDH-02.To view Figure 1 Image, please copy and paste URL below into new browser:
http://www.rmcommunicationsinc.com/snapmail/img/file20120710082529.pdf
To view Sections A - A' and B - B' Images, please copy and paste the URL below into new browser:
http://www.rmcommunicationsinc.com/snapmail/img/file20120710120804.doc
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Table 1
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Hole # From (m) To (m) Interval (m) Gold (g/t)
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LDH-03 25.95 27.45 1.50 0.366
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27.45 28.95 1.50 1.317
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28.95 30.00 1.05 1.052
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30.00 31.00 1.00 0.345
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31.00 32.00 1.00 0.488
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32.00 33.00 1.00 0.983
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33.00 34.00 1.00 1.347
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34.00 35.00 1.00 5.141
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35.00 36.05 1.05 1.047
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36.05 37.00 0.95 0.316
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37.00 38.00 1.00 0.038
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38.00 39.00 1.00 0.009
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39.00 40.00 1.00 0.132
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40.00 41.00 1.00 15.2
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41.00 42.00 1.00 21.4
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42.00 43.00 1.00 18
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43.00 44.00 1.00 65.1
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44.00 45.00 1.00 5.342
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45.00 46.00 1.00 2.776
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46.00 47.00 1.00 1.259
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47.00 47.67 0.67 2.525
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47.67 48.55 0.88 3.05
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48.55 49.55 1.00 2.856
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LDH-03 25.95 49.55 23.60 6.35
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LDH-04 34.31 35.31 1.00 4.91
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35.31 36.31 1.00 17.9
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36.31 37.31 1.00 3.755
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37.31 38.31 1.00 4.475
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38.31 39.31 1.00 2.194
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39.31 40.31 1.00 3.076
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40.31 41.31 1.00 21
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41.31 42.31 1.00 19.9
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42.31 43.31 1.00 3.226
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43.31 44.20 0.89 0.756
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LDH-04 34.31 44.20 9.89 8.209
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LDH-05 No Significant Gold Results - Dykes -
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The gold mineralization intersected in these holes occurs primarily in potassic altered and pyrite rich syenite intrusive rocks. The Company's geologists now recognize the presence of north-northeast trending, steeply dipping dykes that crosscut the zone of gold mineralization. It is interpreted that Hole LDH-05, collared to the north of the Limao Pit and drilled at an Azimuth of 203 degrees and at an angle of - 60 degrees, drilled through such a dyke as it crossed the zone of gold mineralization. Similar dykes were encountered in LDH-03. No significant gold was intersected in LDH-05 and the potassic altered and pyrite rich syenite intrusive rocks were not encountered. This dyke has been schematically presented on the Section A - A'.
The Company moved the drill to the South Grid to test the gold targets identified in earlier News Release 2012-03. Several holes will be completed on 3 separate drill sections to test high grade gold mineralization occurring in veins that had been exploited by artisanal miners. After these holes are completed the drill will return to the Limao Pit area to finish the current drill program. 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 that includes photographs of the drill core.
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.
Neither the 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.
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