Amerix Announces Contract for Drilling at Limao Gold Property, Brazil
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Amerix Precious Metals Corporation (TSX VENTURE:APM)(FRANKFURT:NJGN) ("Amerix"
or the "Company") reports that it has signed a contract with Energold
Perfuracoes Ltda, of Brazil to complete a drill program at the Company's 100%
owned Limao Gold Property ("Limao"), located in the Tapajos Gold Province, Para
State, Brazil. Drilling is expected to begin over the next 30 days.
The Company has spent the past season at Limao completing mapping, rock
sampling, and ground geochemical surveys that consisted of manual and power
auger sampling over four extensive grids. The grids were targeted on historical
garimpeiro workings as well as prospective areas identified from an airborne
magnetic and radiometric geophysical survey. Recently, an IP survey (3D Induced
Polarization/Resistivity geophysical survey) was completed over the principal
targets that have been developed by the Company's exploration programs (Amerix
News Release NR 2012-04).
At Limao, Amerix's geologists have outlined three target areas for drilling.
These consist of the Limao Pit area on the Central Grid where historic, non
43-101 compliant drilling was reported to have intersected significant gold in
pyritic syenite. A second target has been outlined on the South Grid where high
grade gold has been reported in quartz-sulphide veins hosted along a sheared
contact between quartz diorite, diabase and granite (Amerix News Release NR
2012-03). A third target has been identified as the Jambu Zone, a geochemical
gold anomaly that is located on a ridge, 800 metres northwest of the Limao Pit
on the Northern Grid (Amerix News Release NR 2012-04). Amerix's drill program
anticipates testing all three targets with conventional core drilling methods,
using qualified assay laboratories to assay the drill core samples and utilizing
standard quality assurance and control (QA/QC) practices under the supervision
of the Company's geologists.
Amerix's 2011 and early 2012 exploration programs at Limao have delineated
multiple, anomalous gold geochemical zones, however, only the three zones
described above will be tested in this first drill campaign. To date, only a
small portion of the 11,500 hectare Limao property has been methodically
explored. Results of the drilling will be a guide to the further exploration at
Limao and in the area. The Tocantinzinho trend that hosts the Limao Gold
Property extends northwesterly through the Tapajos Gold Province for several
hundred kilometers and hosts gold deposits and resources as reported by Eldorado
Gold Corporation (Tocantinzinho), Magellan Minerals Ltd (Coringa and Cuiu Cuiu),
Brazilian Gold Corporation (Sao Jorge) and others.
Mr. Ryan Grywul, P. Geo., 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.
Amerix is well funded to complete its first drill campaign at Limao, and is
excited by the potential of the Limao Gold Property, located in the historically
gold rich Tapajos district of Brazil.
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.
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