High Grade Gold Results Continue at Limao, Brazil: 53.85 Grams Gold Per Tonne Over 14.38 Metres in Hole LDH-11 Drill Program Concludes
05.09.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire) -- 09/05/12 -- Amerix Precious Metals Corp. (TSX VENTURE: APM) (FRANKFURT: NJGN) ('Amerix' or 'the Company') is pleased to announce the remaining assay results from the Company's initial drill program at the Limao Gold Property located in the Tapajos Gold Province, Para State, Brazil. Results from the Limao Pit target area have returned intersections of 53.85 grams gold per tonne over 14.38 metres in hole LDH-11, 6.95 grams gold per tonne over 5.74 metres in hole LDH-13 and 21.12 grams gold per tonne over 9.03 metres in hole LDH-14. All holes are reported in Table 1 that follows. These results follow the high grade gold intercepts from the Limao Pit, reported earlier in holes LDH-01 to 04 as per Company News Releases 2012-09 and 2012-11.Table 1
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Hole # From (m) To (m) Interval (m) Gold (g/t)
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(i)LDH-01 28.33 41.00 12.67 14.04
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(i)LDH-02 36.60 77.00 40.40 3.51
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(i)LDH-03 25.95 49.55 23.60 6.35
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(i)LDH-04 34.31 44.20 9.89 8.209
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(i)LDH-05 NE dyke
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LDH-10 N.S.A. - below zone of mineralization
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LDH-11 27.85 42.23 14.38 53.85
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LDH-12 104.11 106.78 2.67 1.41
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LDH-13 21.89 27.63 5.74 6.95
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LDH-14 94.19 103.22 9.03 21.12
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(i)Drill Hole results reported previously
A drill hole location map (Figure 1) of the Limao Pit drill holes is provided below:
http://www.rmcommunicationsinc.com/snapmail/img/file20120904112420.pdf
The following Table 2 provides the detailed sample intervals for the mineralized intervals as summarized above in holes LDH-10 to 14. Detailed sample intervals for earlier reported holes are available at the Company's website.
Table 2
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From Interval Gold From Interval Gold
Hole # (m) To (m) (m) (g/t) Hole # (m) To (m) (m) (g/t)
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N.S.A. - below zone of
LDH-10 mineralization LDH-13 21.89 22.79 0.90 0.756
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LDH-11 27.85 28.85 1.00 13 22.79 23.79 1.00 21.5
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28.85 29.85 1.00 47.3 23.79 24.79 1.00 3.868
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29.85 30.85 1.00 49.1 24.79 25.71 0.92 9.176
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30.85 31.85 1.00 28.2 25.71 26.63 0.92 4.476
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31.85 32.85 1.00 9.4 26.63 27.63 1.00 1.286
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32.85 33.60 0.75 22.7 LDH-13 21.89 27.63 5.74 6.95
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33.60 34.30 0.70 41.7 LDH-14 94.19 95.19 1.00 0.134
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34.30 34.91 0.61 71.3 95.19 95.82 0.63 33.7
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34.91 35.50 0.59 93.4 95.82 96.46 0.64 109.4
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35.50 36.23 0.73 60.5 96.46 97.06 0.60 2.332
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36.23 37.23 1.00 84.8 97.06 97.66 0.60 3.022
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37.23 38.23 1.00 134.9 97.66 98.34 0.68 35.9
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38.23 39.23 1.00 67.8 98.34 99.03 0.69 63.8
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39.23 40.23 1.00 63.1 99.03 100.03 1.00 1.801
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40.23 41.08 0.85 101.9 100.03 101.03 1.00 15.2
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41.08 42.23 1.15 1.043 101.03 102.03 1.00 2.106
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LDH-11 27.85 42.23 14.38 53.85 102.03 102.62 0.59 6.47
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LDH-12 83.02 84.02 1.00 1.068 102.62 103.22 0.60 7.961
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84.02 84.81 0.79 0.171 LDH-14 94.19 103.22 9.03 21.12
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84.81 85.60 0.79 2.63
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LDH-12 83.02 85.60 2.58 1.27
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104.11 105.11 1.00 1.684
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105.11 106.01 0.90 1.373
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106.01 106.78 0.77 1.101
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LDH-12 104.11 106.78 2.67 1.41
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To view the gold mineralization intercepted in LDH-11 see the drill core photos at the link below:
http://www.rmcommunicationsinc.com/snapmail/img/file20120904161615.pdf
The Company is excited by these continuing high grade gold intercepts at the Limao Pit and are extremely encouraged by drill hole LDH-14 which is the furthest step out to the southeast and across a northeasterly striking dyke that was drilled in LDH-05. The gold mineralization has now been traced for more than 80 meters along a northwest trend and to a maximum vertical depth of 100 metres. The gold mineralization is open along trend to the southeast, northwest and to depth. The true width of the gold mineralization may be best represented by drill holes LDH-14 and LDH-01 as these holes appear to intersect the zone orthogonally with lengths of 9.03 and 12.67 metres that estimate the true width to be 5 to 12 metres. However, the mineralization appears to be variable in shape and width along the trend drilled to date. A schematic, 3 dimensional representation of the anomalous gold mineralization intercepted can be viewed at the link that follows:
http://amerixcorp.com/limao-video-2.php
The location of the Limao Gold Property in the Tapajos Gold Province, Para State, Brazil is presented at the following link:
http://amerixcorp.com/limao-video-1.php
Gold in soil geochemistry described in Company News Release 2012-08 outlined a 600 metre long northwest trending anomaly centred on the Limao Pit that is the target of the current drilling. At the Limao Pit, drilling has intercepted gold mineralization occurring in potassic and hematite altered, syenitic intrusive rocks that are strongly mineralized with pyrite. These syenites show little deformational fabric and the pyrite occurs in disseminations, clots and along fractures. The style of gold mineralization can be seen in drill core photos that are posted at the Company's website for each drill hole.
The Company has also drilled 4 holes, LDHM-06 to 09 at the South Grid. This grid is located approximately 1.6 km south of the Limao Pit. Earlier geochemical survey work and geological prospecting as reported in News Release 2012-03 indicated that east-west shear zones occurring in granitic rocks and mafic dykes contained high grade gold mineralization in quartz veins with estimated true thickness up to 0.5 metres in addition to variably mineralized wall rock. These drill hole locations are presented in the following South Grid location map:
http://www.rmcommunicationsinc.com/snapmail/img/file20120904112549.pdf
Amerix has now tested this discreet style of gold mineralization at the South Grid with 4 holes drilled on 3 north-south drill sections spaced 125 and 60 metres apart from west to east. LDHM-06 intersected 7.36 grams gold per tonne over 1 metre from 78.9 metres to 79.9 metres and LDHM-09 intersected 39.4 grams gold per tonne over 0.5 metres from 53 metres to 53.5 metres. These are encouraging results as a preliminary test of this second style of gold mineralization occurring at the property. These drill holes have only tested a portion of the gold in soil geochemical anomaly at the South Grid. These veins are interpreted to be "pinch and swell" style quartz veins that host high grade gold mineralization. This concurs with the experience of the artisan miners (garimpeiros) that previously opened workings along these veins. Company geologists were able to access adits and view the veins occurring in saprolite and rock near surface. Photos are posted at the Company's website of these veins as seen underground.
The Company will be posting all new drill results at the Amerix website over the next week.
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.
President and CEO Steve Brunelle states, "The results of Amerix's initial drilling campaign demonstrate that Limao is host to significant gold mineralization. The syenite hosting high grade gold at the Limao Pit is a unique target that justifies a follow-on drill campaign. In addition, we have gold intercepted in quartz veins in sheared granites at the South Grid. Our large surrounding ground package, with many additional untested geochemical gold anomalies make for an exciting future for the Company!"
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. Amerix will continue to seek exploration properties of merit via staking, acquisition or merger. The Company's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJGN".
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