Amerix Options Concessions Adjacent to Limao Gold Property, Brazil
Amerix Precious Metals Corporation, (TSX VENTURE:APM)(FRANKFURT:NJGN) ("Amerix"
or the "Company"), is pleased to report that it has entered into an agreement
("the Agreement"), whereby Amerix has optioned adjacent exploration properties
(2 property groups) immediately to the west of the Company's 100% owned Limao
Gold Property ("Limao Property"), located in the Tapajos Gold Province, Para
State, Brazil. The Company's geologists believe there is favorable gold
exploration potential at these properties, consisting of almost 7000 hectares
and located along the Tocantinzinho gold trend of Brazil.
The terms of the Agreement allow for staged payments to the local vendors
consisting of cash (Brazilian Reals ("R$") R$1,000,000) and Amerix common shares
(650,000 shares) over 4 years followed by success payments of R$500,000 for
positive Feasibility Studies at either of the properties. In the event of a
production decision at either of the properties, a payment of R$1,000,000 will
be payable upon reaching commercial production. In addition a 1.0% Net Gold
Sales Royalty will be payable to the vendors.
The Agreement is subject to the approval of the TSX Venture Exchange, the
approval of the Company's Board of Directors and is subject to due diligence by
Amerix over a 6 month period.
Amerix plans to investigate the projection of structural features that may
extend across these new properties. These structures are believed to control
gold mineralization at the adjoining Limao Property. The Company's exploration
team will also be focused upon old surface workings indicated from historical
reports on the region. The Company's work will initially consist of
reconnaissance mapping and grab sampling followed by localized geochemical grid
sampling in areas of interest.
Amerix has recently contracted Energold Perfuracoes Ltda, of Brazil to complete
a drill program at the Limao Property. Drilling is expected to begin over the
next few weeks. Amerix's exploration programs at the Limao Property have
delineated multiple, anomalous gold geochemical zones with three zones outlined
in an earlier press release (News Release-2012-05 dated April 18, 2012) to be
tested in this initial drill campaign.
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 excited by the potential of the Limao Gold Property and these adjacent
concessions 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".
News 
Market Data 
Discover 
