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:
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.
Amerix Precious Metals Corporation
President and Chief Executive Officer
Amerix Precious Metals Corporation
Chief Financial Officer
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