2012 Phase 2 Drill Results at Amerix's Limao Gold Property, Brazil 48.09 grams gold per tonne over 3.71 metres in LDH-20
21.01.2013 | Marketwire
48.09 grams gold per tonne over 3.71 metres in LDH-20TORONTO, ONTARIO -- (Marketwire) -- 01/21/13 -- Amerix Precious Metals Corp. (TSX VENTURE: APM) (FRANKFURT: NJGN) ('Amerix' or 'the Company') is pleased to report assay results from the Company's 2012 Phase 2 diamond drill program at the 100% owned Limao Gold Property located in the Tapajos Gold Province, Para State, Brazil. Six additional holes (LDH-15 to LDH-20) totaling 716 metres were drilled in November and December 2012 at the Limao Pit target area to follow up on the results reported earlier in 2012 from the Phase 1 drill program. (See the Company website at www.amerixcorp.com for news releases and project drill results from 2012).
"We are encouraged by the discovery of a second lens of significant gold mineralization at Limao. This discovery confirms our view that Limao has the potential to host multiple lenses. With several gold-in-soil anomalies identified across the Company's extensive land holdings, Amerix will be preparing priority targets for drill testing," stated Steve Brunelle, President and CEO.
The Phase 2 drilling program had two objectives;
1) to step across a steeply dipping, northeast trending dyke encountered in earlier hole LDH-05 and test the near surface extension and potential continuity of gold mineralization to the east, and
2) to test the extension of the gold mineralization further to the west
Drill holes LDH-15, 16, 19 and 20 have been drilled on the southeast side, and across the northeast trending dyke that was defined earlier in LDH-05. Holes LDH-15, 16 and 19 were all collared from the same location as earlier hole LDH-14 that intercepted 9.03 metres grading 21.12 grams gold per tonne. Company geologists believe that a second lens-like zone of gold mineralization has now been intersected in holes LDH-14, and LDH-20 with a yet unknown width and orientation.
Drill hole LDH-15 was drilled at azimuth 000 and -45 degrees and has intersected from 84.1 to 87.7 metres, 3.6 metres averaging 1.24 grams gold per tonne, from 89.2 to 90.35 metres, 1.15 metres averaging 1.60 grams gold per tonne, and from 101.66 to 104.2 metres, 2.54 metres averaging 1.07 grams gold per tonne. Drill hole LDH-16 was drilled at azimuth 020 and -55 degrees, drilling vertically above the gold intersection in LDH-14 and did not encounter the mineralized zone. Drill hole LDH-19 was drilled at azimuth 034 and -67 degrees, drilling to the east of the gold intersection in LDH-14 and did not encounter significant gold mineralization. Drill hole LDH-20 was collared east of the Limao Pit, and drilled at azimuth 265 and -67.5 degrees and has intersected from 102.75 to 106.46 metres, 3.71 metres averaging 48.09 grams gold per tonne and from 109.79 to 112.15 metres, 2.36 metres averaging 2.91 grams gold per tonne.
Drill holes LDH-17 and LDH-18 have been drilled at the western margin of the Limao Pit. These were short (50 metre) holes that targeted the western projection of the gold mineralization near surface. Neither hole intersected significant gold mineralization. These results indicate the western margin of the lens of gold mineralization encountered in holes LDH-01, 02, 03, 04, 11 and 13. (See Table 1 below for a summary of all Phase 1 and Phase 2 drill results). It appears to the Company's geologists that the gold mineralization tested on the west side of the dyke is trending at 110 degrees and plunging to the southeast.
Click on the link below to view the plan view map of the drill holes in Figure 1:
http://www.rmcommunicationsinc.com/snapmail/img/file20130114104756.pdf
All drill results from the Limao Pit (Phase 1 and Phase 2) are presented in Table 1 below.
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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(i)LDH-10 N.S.A. - below zone of mineralization
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(i)LDH-11 27.85 42.23 14.38 53.85
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(i)LDH-12 104.11 106.78 2.67 1.41
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(i)LDH-13 21.89 27.63 5.74 6.95
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(i)LDH-14 94.19 103.22 9.03 21.12
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LDH-15 84.10 87.70 3.60 1.24
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89.20 90.35 1.15 1.60
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101.66 104.20 2.54 1.07
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LDH-16 N.S.A
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LDH-17 N.S.A. Western margin
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LDH-18 N.S.A. Western margin
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LDH-19 N.S.A.
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LDH-20 102.75 106.46 3.71 48.09
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109.79 112.15 2.36 2.92
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(i)Drill Hole results reported previously
At the Limao Pit, drilling has intercepted gold mineralization hosted in pyritized, strongly potassic altered monzogranites, syenogranites and syenites. Potassic alteration in the complete rock package is variable. These rocks show little deformational fabric and the pyrite occurs in disseminations, clots and along fractures. Other, less abundant sulphides include chalcopyrite, bornite and bismuth bearing sulphides. The style of gold mineralization can be seen in drill core photos that are posted at the Company's website for each drill hole.
High grade lenses of gold mineralization at the Limao Pit have been encountered in drilling on both the east and west sides of the northeast trending dyke. The true width of the gold mineralization on the west side of the dyke that was drilled in holes LDH-1, 2, 3, 4, 11, and 13 is estimated to be 5 to 12 metres contained in an irregular, tabular lens that trends and plunges steeply to the east. Holes LDH-12, 14, 15, and 20 have outlined mineralization on the east side of the dyke where correlation of mineralization is presently uncertain.
Company geologists believe the high grade gold mineralization encountered at the Limao Pit may be spatially related to the northeast trending dyke and regionally related structures that crosscut the northwest trend of the Tapajos rock assemblage. These same structures may have been the conduits for the alteration and mineralizing events that led to the existence of the present gold mineralization at the Limao Pit. Additionally, anomalous gold mineralization has been intersected coincident with the dyke indicating remobilization of gold. There exists the potential of a separate target for gold mineralization occurring in these northeast structures, as evidenced by the gold intercepts coincident with the dyke in LDH-03 and LDH-15.
Amerix is encouraged by the high grade nature of the gold mineralization intersected in the 2012 drilling at the Limao Pit. Gold-in-soil geochemical surveying described in Company News Release 2012-08 of June 7, 2012, has outlined a 600 metre long anomaly that extends southeast from the Limao Pit that is characterized by subtle clusters of gold anomalies. The Company has drill tested only a small segment of this anomaly (150 metres) and this remains a high priority target for further drilling.
To view Central Grid: Limao Pit, Au (ppb) in Soil Results Figure, click on the link below:
http://www.rmcommunicationsinc.com/snapmail/img/file20130117105506.pdf
Amerix continues its geochemical surveying at the extensive (18,000 hectare) Limao land package. A drill target has been outlined at the Jambu Zone, located 800 meters to the northwest of the Limao Pit. This is a northwest trending gold-in-soil anomaly with approximate dimensions of 340 metres by 225 metres (See News Release 2012-04, April 2, 2012). Several other grids have been extended to follow anomalous gold-in-soil trends, particularly at the Northern Grid and the South Grid where Phase 1 drilling intersected gold mineralization in shear hosted veins as in LDHM-06 and LDHM-09 (See News Release 2012-12, September 5, 2012). To the west, at the adjoining Serra Dourada property, stream sediments and artisanal workings along drainage systems are being sampled, as well as, grid oriented soil geochemical surveys. Targets are being prioritized for follow up work to prepare for drill testing.
Diamond drilling at Limao 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. 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
www.amerixcorp.com