Nov 15 2012
Amerix Precious Metals Corp. (TSX VENTURE:APM)(FRANKFURT:NJGN) 'Amerix' or 'the Company') is pleased to announce that after completing a November financing (see News Release dated October 30, 2012), the Company has recommenced drilling at its 100% owned Limão Gold Property located in the Tapajós Gold Province, Pará State, Brazil.
The Company and its drill contractor expect to be able to drill up to the Brazilian Christmas Holiday, after which, efficient drilling will be precluded by the usual "rainy season" for the district.
In the Company's 2012 initial drill program at the property, 14 holes were drilled on 2 geochemical gold targets. Present drilling will be focused in the area of the Limão Pit target, where earlier high grade gold 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 have been encountered and reported in News Release 2012 - 12, dated September 5, 2012. These results follow the high grade gold intercepts from the Limão Pit, reported earlier in Company News Releases 2012-09, dated June 14, 2012, and 2012-11, dated July 10, 2012.
Amerix is excited by the high grade gold intercepts encountered in its initial drilling campaign at the Limão Pit where gold is 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 will be drilling to extend the zone of gold mineralization and to continue the Company's understanding of the controls of the gold mineralization.
Amerix's exploration team has been continuing its soil geochemical surveying at the Limão concessions, a large >10,000 hectare property. Present soil grids have been extended to encompass newly identified targets along favorable trends for further surface exploration and future drill testing.
Additionally, the Company is pleased to report that it has completed its "Due Diligence" of the Serra Dourada properties adjoining to the northwest of the Limão Gold Property. Amerix has notified the optionors that the Company will proceed with the terms of the property option. The Company's geologists are optimistic of the potential of these Serra Dourada properties consisting of > 7000 hectares located along the northwest Tocantinzinho structural trend. Many artisanal workings are located on these properties and will be the focus of geochemical surveys over the coming year.
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.
Source: http://www.amerixcorp.com