Amerix Reports 10.2 Grams/Ton Over 10.7 Metres at Ouro Roxo
December 13 2007 - 8:00AM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: APM)(FRANKFURT: NJG) today
reported that Kluane International Drilling, Inc. ("Kluane") and
Geologica e Sondagens Ltda. ("GEOSOL") have drilled 28 new holes
for a total of more than 4500 metres of core at the Ouro Roxo
deposit on Amerix's Vila Porto Rico Property ("VPR") in the Tapaj?s
District, Brazil. This drilling program commenced in early
September as reported in the Amerix's press releases of October 1
and October 24, 2007; each company has been contracted to drill
3000 metres of core. This program is expanding upon the 69
drill-hole program that was completed previously at the Ouro Roxo
Deposit. In total over 11,000 metres of core has been drilled at
the Ouro Roxo project by Amerix; an additional 5,000 metres of core
was previously drilled by RTZ. The drilling program will be paused
over the holiday break, but will begin again in January. Funding
for the drilling was raised through a brokered private placement
which closed on August 9, 2007 and raised gross proceeds of
approximately $3,750,000. Amerix also is pleased to announce that
initial assay results for eight complete holes from the Ouro Roxo
North ("ORN") zone have been received from SGS Geosol Laboratorios
Ltda located in Belo Horizonte, Brazil. Gold values in hole AORN64
ranged as high as 10.2 grams/ton ("g/t") over 10.7 metres
(including two zones within this interval of 17.2 g/t over 3.05
metres and 14.1 g/t over 4 metres). Visible gold is present in some
of these analyzed cores as well as other ORN cores that await
assay. Significantly, the drilling, assaying, and visual
description of the cores from ORN also show that gold
mineralization extends at least 600 metres farther north than known
before this new drilling program and is open-ended to the
north.
The drilling program is designed to explore the northward
extension of ORN towards the Pacï¿1/2 River and the sparsely
drilled intermediate zone between ORN and Ouro Roxo South. The 69
drill holes drilled to date have demonstrated the continuity of a
gold-mineralized zone for more than three kilometres from the ORN
zone to the Ouro Roxo South zone through a relatively unexplored
middle zone. It is anticipated that as drilling continues the main
Ouro Roxo mineralized zone will extend another two kilometres to
the north for a total length of at least 5.5 kilometres.
Management's Discussion and Analysis: The following table shows
mineralized zones in five of eight analyzed cores from ORN that
contain zones with 1.0 g/t gold or greater. A single sample in hole
AORN62 yielded 26.3 g/t gold over 1.0 meter. In hole AORN64, from
135.0 to 145.7 metres, the average grade is 10.2 g/t over this 10.7
-m wide interval; however, within this interval there are two zones
of 17.2 g/t over 3.05 metres and 14.1 g/t over four metres
separated by a two metres wide zone of lower grade. As a group
these results are highly encouraging for Amerix's exploration
effort. Throughout these five cores are numerous less than 1 g/t
zones of thicknesses ranging from 1 to 12 metres. In hole AORN56, a
core with many narrow high-grade zones had a total depth of only
127.8 metres due to loss of circulation when the drill encountered
a garimpeiro tunnel that had been drifted along a very high-grade
zone that obviously was unsampled by Amerix's core.
Three holes, AORN52, 53, and 54 produced low gold analyses. The
location of these holes with respect to a mapped surface structure
places them west of a right-lateral-sense fault zone. Subsequent
analysis indicates that these holes were drilled in the footwall of
the gold-mineralized zone. The following table summarizes the
results of five of the eight analyzed cores.
Drill Hole Interval Width Au Assay Interval
# (m) (m) (ppm) And Grade
-------------------------------------------------------
AORN55 18.0-19.0 1.0 0.5 1.0m@0.5g/t
-------------------------------------------------------
-------------------------------------------------------
AORN55 36.0-37.0 1.0 2.0 1m@2.0g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 42.8-44.0 1.2 1.0 1.2m@1.0g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 49.0-50.0 1.0 1.0 1.0m@1.0g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 60.0-61.0 1.0 1.6 1.0m@1.6g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 76.0-77.0 1.0 2.2 1.0m@2.2g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 89.2-90.2 1.0 8.5 1.0m@8.5g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 96.2-97.1 0.9 9.9 0.9m@9.9g/t
-------------------------------------------------------
-------------------------------------------------------
AORN56 115.5-116.5 1.0 4.3
-------------------------------------------------------
" 116.5-117.5 1.0 0.33
-------------------------------------------------------
Total 115.5-117.5 2.0m@2.3g/t
-------------------------------------------------------
AORN58 149.3-151.2 1.9 1.1 1.9m@1.1g/t
-------------------------------------------------------
-------------------------------------------------------
AORN62 75.9-76.9 1.0 22.9
-------------------------------------------------------
" 76.9-77.9 1.0 26.3
-------------------------------------------------------
" 77.9-78.9 1.0 3.5
-------------------------------------------------------
" 78.9-79.9 1.0 3.9
-------------------------------------------------------
Total 75.9-79.9 4m@14.15g/t
-------------------------------------------------------
-------------------------------------------------------
AORN62 104.0-105.0 1.0 1.35 1.0m@1.3g/t
-------------------------------------------------------
-------------------------------------------------------
AORN62 127.6-128.6 1.0 0.29
-------------------------------------------------------
" 128.6-129.6 1.0 16.0
-------------------------------------------------------
" 129.6-130.6 1.0 2.4
-------------------------------------------------------
Total 127.6-130.6 3.0m@6.2g/t
-------------------------------------------------------
-------------------------------------------------------
AORN62 150.5-151.5 1.0 2.2 1.0m@2.2g/t
-------------------------------------------------------
-------------------------------------------------------
AORN62 171.6-172.7 1.1 1.4 1.1m@1.4g/t
-------------------------------------------------------
" 172.7-173.8 1.1 0.04
-------------------------------------------------------
" 173.8-174.9 1.1 0.07
-------------------------------------------------------
" 174.9-176.0 1.1 0.27
-------------------------------------------------------
" 176.0-177.2 1.2 15.3 1.2m@15.3g/t
-------------------------------------------------------
" 177.2-178.3 1.1 0.15
-------------------------------------------------------
Total 171.6-178.3 6.7m@3.6g/t
-------------------------------------------------------
-------------------------------------------------------
AORN64 129.0-130.0 1.0 2.4 1m@2.4g/t
-------------------------------------------------------
-------------------------------------------------------
AORN64 135.0-135.6 0.6 0.46
-------------------------------------------------------
" 135.6-136.7 1.1 5.0
-------------------------------------------------------
" 136.7-137.7 1.0 14.4
-------------------------------------------------------
" 137.7-138.7 1.0 32.8
-------------------------------------------------------
" 138.7-139.7 1.0 0.14
-------------------------------------------------------
" 139.7-140.7 1.0 0.09
-------------------------------------------------------
" 140.7-141.7 1.0 3.4
-------------------------------------------------------
" 141.7-142.7 1.0 8.4
-------------------------------------------------------
" 142.7-143.7 1.0 24.8
-------------------------------------------------------
" 143.7-144.7 1.0 19.7
-------------------------------------------------------
" 144.7-145.7 1.0 0.41
-------------------------------------------------------
Total 135.0-145.7 10.7m@10.2g/t
-------------------------------------------------------
-------------------------------------------------------
QA/QC: The drilling operations are being conducted by GEOSOL and
Kluane under the direct guidance and supervision of Amerix
geologists and management. Both companies are well-established and
have worked with Amerix in the past. Cores are being drilled at 50
degrees to 70 degrees angles at HQ or NQ diameter for up to 100
metres in depth after which diameter NQ or BQ is used to depths
that generally will be in the range 150 to 250 metres. Local
geologic mapping and regional reconnaissance geologic mapping are
being conducted in concert with the drilling program. All cores are
split and described at the Amerix camps near the drill sites.
Assays are being conducted at SGS Geosol Laboratorios Ltda. These
assays are multi-element analyses that include both gold and silver
determinations among the suite of 38 analyzed elements.
About the Vila Porto Rico (VPR) Property: The VPR Property is
located in the Tapajos District, one of the largest gold-producing
provinces in Brazil. Amerix owns 100% of the mining rights within
the 670 km2 comprising the VPR property. Gold-rich zones are found
within the one to two kilometres wide, N-S trending Ouro Roxo fault
zone. This fault zone has been traced along a strike length of more
than 25 kilometres. The Ouro Roxo mineralized zone occurs in the
southern part of this major shear zone. Gold is present in a
variety of structures throughout the property, but the best gold
values at Ouro Roxo have been found within faults, shears, and
brecciated zones that dip moderately to the east at 40degrees to
50degrees. The mineralized structures contain variable amounts of
sulfides, and quartz-chalcopyrite-pyrite-gold veins, below a
saprolite zone that extends to a depth of 50 metres or more. The
Ouro Roxo Project includes exploring a 5.5 -kilometre-long segment
of this structural zone. A total of 69 angle core holes have been
drilled at Ouro Roxo; the results of assays for these holes have
been previously reported.
About Amerix Precious Metals Corporation: Amerix Precious Metals
Corporation is an Ontario company exploring for precious metals in
Brazil. VPR is the Corporation's main project, covering over 67,000
hectares. VPR has proven gold potential, as it contains historic
and active gold mines that anecdotal evidence suggests have
produced more than two million ounces from placer and weathered
bedrock (saprolite) mining operations. Amerix's objective is to
create value for shareholders through expansion of bedrock gold
resources, and development of placer and tailings gold resources.
Brazil has enormous gold potential and is a proven mining-friendly
country. Amerix staff has more than 50 years of combined experience
in Brazil, and the Corporation has been active for more than 10
years. The Corporation's shares trade on the TSX Venture Exchange
under the symbol "APM" and on the Frankfurt Stock Exchange under
the symbol "NJG."
The technical and scientific information in this release has
been reviewed by Lawrence W. Snee, Senior Consulting Geologist of
Amerix, a Qualified Person as described in NI 43-101, a geologist
with more than 30 years of experience. Some of the statements in
this news release contain forward-looking information, which
involves inherent risk and uncertainty affecting the business of
Amerix. The grades identified herein are not fully defined, there
is insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the discovery of an
economic mineral resource on any of the properties. Actual results
may differ materially from those currently anticipated in such
statements.
If you would like to receive press releases via email, please
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the subject line.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. We
seek safe harbour.
Contacts: Amerix Precious Metals Corporation Jeffrey Reeder
President and CEO (647) 302-3290 CHF Investor Relations Jeanny So
Director of Operations (416) 868-1079, Ext. 225 Email:
jeanny@chfir.com Studer Consulting Marlies E. Studer +41 44 215 28
03 Email:consulting@studer-ir.ch
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