Amerix Precious Metals Corp (fka APM)

[Underdog]

Amerix Precious Metals Corp.: Drilling Starts and Geochemical Survey Results Indicate Additional Target at Subbao Grid, Limao...
PrintAlert
Amerix Precious Metals Corp. (TSX VENTURE:APM)(FRANKFURT:NJGN) ('Amerix' or 'the
Company') is pleased to announce that drilling has begun at the Limao Gold
Property located in the Tapajos Gold Province, Para State, Brazil. In addition,
the Company provides an exploration update from its program of gridded soil
sampling and rock sampling. During 2011 and 2012, two separate soil sample
grids, called the Subbao Grid and the Reconnaissance Grid, were established over
a small scale artisanal mine and over regional magnetic geophysical and
topographic lineaments respectively. These grids are separate from the Limao
Pit, South Grid, and Jambu Zone described in News Release 2012 - 4, dated April
2, 2012. The locations of these now released grids are outlined in the linked
Figure 1.


To view Figure 1 image, please copy and paste the URL below into new browser:

http://www.rmcommunicationsinc.com/snapmail/img/file20120517094216.pdf

The Subbao soil grid covers an area of 116 hectares and was established over
small scale artisanal mine workings, called the Subbao Zone, where saprolite and
rock samples had returned anomalous gold assay results mainly from grabs,
selective grabs, and stockpiled crusher waste that ranged from less than 0.005
grams per tonne gold to 361.5 grams per tonne gold. Higher grade samples
resulted from hand selective grabs of fine quartz vein material where visible
gold was occasionally noted. Gold values are expected to have been enhanced by
oxidation of sulphide bearing, fine quartz veins. Limited exposure of saprolite
outcrop and evidence gathered from saprolite in shaft dump piles show fine, less
than 5 centimetre thick, quartz vein or veins hosted in and along granite, a
fine grained volcanic, and a fine mylonite with some sericite and fracture
chlorite in wall rocks. The contact between granite and the fine grained
volcanic is speculated to be a structural focus for quartz veining and shearing.
The soil assay results are presented in the linked Figure 2. Rock and saprolite
sample assay results are presented in the linked Figure 3.


To view Figure 2 image, please copy and paste the URL below into new browser:

http://www.rmcommunicationsinc.com/snapmail/img/file20120517094303.pdf

To view Figure 3 image, please copy and paste the URL below into new browser:

http://www.rmcommunicationsinc.com/snapmail/img/file20120517094345.pdf

In total, 775 one-metre manual soil auger samples were collected at twenty metre
stations along 16, one hundred-metre spaced wing lines and 1 baseline at the
Subbao Grid. This grid was also established to explore west-northwest trending
regional structures identified from satellite images and an airborne magnetic
survey, as well as, possible secondary structures. In the vicinity of the
artisanal workings, soil assay results show a localized gold anomaly that
requires follow up with detail, infill geochemical sampling and mapping to
define the limits of the mineralization encountered at the Subbao Zone. Sparse
localized colluvial and saprolite gold in soil anomalies were also encountered
elsewhere in the Subbao soil grid, occasionally near abandoned, small scale
alluvial/placer operations.


At the Reconnaissance Grid, 515 one-metre manual soil augers were collected at
twenty metre sample stations along 4, five hundred-metre spaced lines totalling
9.08 line kilometres. The Reconnaissance Grid was designed to access and test
northwest and northeast lineaments identified from the airborne magnetic survey
and satellite imagery, as well as, magnetic and radiometric anomalies including
highs and lows. The gold in soil assay results were generally negligible over
the reconnaissance line spacing but have resulted in a few soil anomalies
located near the magnetic lineaments or near the intersection of magnetic
lineaments. Amerix will reserve these areas for follow up prospecting and soil
sampling. The results of the gold in soil assays for the Reconnaissance Grid are
presented in Figure 4.


To view Figure 4 image, please copy and paste the URL below into new browser:

http://www.rmcommunicationsinc.com/snapmail/img/file20120517094422.pdf

All soil samples were delivered to Acme Labs preparation facility in Itaituba,
Brazil where the samples were dried, sieved, split, and shipped to Acme's
Santiago, Chile laboratory for gold analysis by fire assay with atomic
absorption finish on a 30 or 50 gram split. Rock and saprolite samples were
delivered to Acme Laboratories preparation facility in Itaituba, where the
samples were crushed, pulverized, split, and shipped to Acme's Santiago
laboratory, where they were analysed for fire-assay gold on a 30 gram split.
Acme Laboratories is registered under International Standards Organization ISO
9001:2008 quality control program. The Company utilizes a QA/QC chain of custody
program overseen by its geologists concerning its samples.


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".