2006-09-21 05:52 ET - News Release
Mr. John Andrews reports
AMERIX ANNOUNCES DRILL RESULTS AT NOVA BRASILIA
Amerix Precious Metals Corp. has released the first assay results from the 2006 exploration program at its Vila Porto Rico (VPR) gold property in Para state, Brazil.
Commenting on these results, John Andrews, president and chief executive officer of Amerix, said: "Amerix's drilling program at its Brazilian Vila, Porto Rico, property has successfully intercepted several gold-sulphide mineralized sections along 900 metres of the north-trending, near-vertical Nova Brasilia shear zone. Through Aug. 31, 2006, drilling along the mineralized shear zone totalled 2,740 metres in 16 diamond drill holes. Geologic mapping and geochemical soil surveys indicate that the Nova Brasilia shear zone is at least 2.5 kilometres long, with 1.6 kilometres yet to be drilled and tested. The potential for structures that branch off the Nova Brasilia shear zone is considered to be equally important. In addition, four to five drill targets have been identified along structures unrelated to the Nova Brasilia shear zone in the northern part of the VPR property."
Mineralized host rocks primarily are brecciated mylonitic intermediate to mafic gneisses and weakly to undeformed granitic rocks. Initial interpretations indicate that the mineralization is strongly controlled by brittle deformation superposed on the Nova Brasilia mylonitic shear zone. The table below shows the distribution of these values within the sulphide zone as well as the length of the mineralization within the various lithologies.
Azimuth/dip/total
Hole Depth description Selected mineralized intervals
degrees/degrees From - To equals metres
/metres Grade g Au/t
ANB- Test a Nova 54.0-71.0 equals 17m
17 270 / -50 / 143 Brasilia 61-62 @ 5.83
geochem
ANB anomaly 131.65-140.96
18 270 / -70 / 141 shear zone equals 9.31m
4,400S 139-140 @ 0.60
ANB- Test a Nova 115-155 equals 40m
21 270 / -50 / 155 Brascila 143-144 equlas 0.53
geochem
anomaly 173-239 equals 66m
shear zone 183-184 @ 2.63
ANB- 4,600S 192-193 @ 1.38
22 270 / -70 / 247 195-196 @ 8.72
221-222 @ 4.43
ANB- Test a Nova
23 90 / -50 / 117 Brasilia Did not intercept
geochem a mineralized zone
ANB- 4,700S anomaly
24 90 / -70 / 214 shear zone
Holes ANB 21 and ANB 22 were drilled on the 4,600S section to test a Nova Brasilia shear zone gold geochemical soil anomaly and cut a mineralized interval that has a true width of at least 35 metres that is open below a vertical depth of 210 metres. The mineralized interval appears to extend beyond the bottom of hole 21. Grades run from less than 0.5 gram per tonne to four one-metre intervals of 1.38, 2.63, 4.43 and 8.72 grams per tonne. Infill drilling is planned to determine the northern and southern extent of this mineralized interval.
Holes ANB 9 and ANB 10 were drilled on the 4,000S section to test another gold geochemical soil anomaly 600 metres north of holes 21 and 22 and intercepted a substantial zone of sulphide mineralization. Samples were submitted for assaying and while logging the holes, VPR geologists were able to estimate that an interval of 10 to 15 metres is associated with pyrite and chalcopyrite hosted by mafic gneiss and granite. This zone is included in an extensive hydrothermally altered interval with chlorite, amphibole and siliceous veinlets. Amerix expects to have now intercepted another important mineralized zone within the Nova Brasilia shear zone.
Fieldwork in the Ouro Roxo area in the southern part of the property by Amerix's geologists documented free gold in the footwall of the Ouro Roxo shear zone between Ouro Roxo north and south. Prior geochemical soil anomalies at Ouro Roxo North and South indicated a 2.5-kilometre gap between the two deposits. However, the recent sampling work clearly establishes the continuity of the Ouro Roxo deposit for a north-south strike length of 3.5 kilometres, and appears to support the view expressed in the National Instrument 43-101 report published in June, 2006, by SRK that "there is a good possibility of extending the gold mineralization as well as discovering new auriferous shoots to the north and south of the current resource." VPR can now confirm this opinion (see Stockwatch SEDAR files: the technical report dated June 23, 2006).
Mr. Andrews added: "In August, 2006, we contracted a staff of consulting geologists headed by Dr. Jorge Bittencourt of the geological department, University of Sao Paulo (USP), Brazil, to assist Amerix geologists in the interpretation and development of the drill program along the Nova Brasilia shear zone and elsewhere on the VPR property. To have someone of Dr. Bittencourt's esteem and high calibre is extremely gratifying for our company. He is a leading expert in the study of granitic-related orebodies in the Amazon of Brazil having spent more than 40 years working in the region."
Based on the review of the assay results and study of the core samples, Amerix geologists and the USP consulting group are developing the next steps of the drilling program using a detailed study of the hydrothermal nature of the mineralizing events. This study will help to better understand the three-dimensional distribution of the mineralized granitic bodies as well as the mineralized shear zone and its extensions and area of influence. This will enhance the targeting of the drill program and its additional success.
Drill core chemical analyses were performed by SGS Lakefield/Geosol of Belo Horizonte, Brazil, an ISO/IEC 17025 and ISO 9002 certified assayer.
The technical and scientific information and the drilling programs proposed have been reviewed by president and chief executive officer of the corporation, PEng (Ontario), John Andrews, and former vice-president of exploration, Dr. Charles Thorman, both of which are qualified persons within the meaning of National Instrument 43-101.
We seek Safe Harbor.
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