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Amerix Announces Drill Results at Nova Brasilia
SEPTEMBER 21, 2006
TORONTO, ONTARIO - Amerix Precious Metals Corporation ("Amerix") (TSX V:APM)(Frankfurt Stock Exchange:NJG) today announced 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 CEO of Amerix, said: "Amerix's drilling program at its Brazilian Vila Porto Rico property has successfully intercepted several gold-sulfide mineralized sections along 900 meters of the north-trending, near vertical Nova Brasilia shear zone. Through August 31, 2006, drilling along the mineralized shear zone totaled 2,740 m in 16 diamond drill holes. Geologic mapping and geochemical soil surveys indicate that the Nova Brasilia shear zone is at least 2.5 km long, with 1.6 km 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, 4-5 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 sulfide zone as well as the length of the mineralization within the various lithologies.
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 m that is open below a vertical depth of 210 m. The mineralized interval appears to extend beyond the bottom of hole 21. Grades run from less than 0.5 g/t to four one-meter intervals of 1.38, 2.63, 4.43, and 8.72 g/t. 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 m north of holes 21 and 22 and intercepted a substantial zone of sulfide mineralization. Samples were submitted for assaying and while logging the holes, VPR geologists were able to estimate that an interval of 10 to 15 meters 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.
Field work in the Ouro Roxo area in the southern part of the property by Amerix' 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 km 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 3.5km and appears to support the view expressed in the NI 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 SEDAR 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 caliber 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 utilizing 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, P.Eng. (Ontario) and former Vice President of Exploration Dr. Charles Thorman, both of whom are Qualified Persons within the meaning of National Instrument 43-101.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario Corporation exploring for precious metals in Brazil. Vila Porto Rico and Limão are gold projects in the Tapajós Gold Province in Brazil. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJG". There are approximately 44.6 million shares outstanding and 52.8 million fully diluted.
Additional information regarding Amerix can be found on SEDAR at www.sedar.com or at the Company's website at www.amerixcorp.com.
For further information, please contact
Amerix Precious Metals Corporation
John Andrews
President and CEO
(706) 467-9427
jeacsamt@plantationcable.net
CHF Investor Relations
Jeanny So
Broker Relations Specialist
(416) 868-1079, Ext. 225
jeanny@chfir.com
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To view Surface Gold Soil Anomaly Map, please click here.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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