May 20, 2010 (TheNewswire.ca) --
Amerix Precious Metals Corporation (TSX Venture: APM, Frankfurt: NJG) is pleased to announce that the Company has completed the first phase of exploration on the Limão project in the Tapajos gold province in Central Brazil. Amerix's initial exploration phase consisted of detailed geochemical sampling and surface mapping to define the gold zones identified by the Company and the previous operators. Previous sampling by the Company returned encouraging results. Eleven samples taken from sulphide-rich syeno-granitic rocks located in the central pit area with results ranging from 2.37 grams per tonne gold to 106.6 grams per tonne gold. The average grade of the samples was 38.5 grams per tonne gold or 1.12 ounces per ton gold (see Company news release of November 2, 2009).
The initial phase of the 2010 exploration program comprised of 1,664 one-meter auger holes and 42 deeper auger holes ranging from 2 to 4.8 meter depths. The deep auger holes were completed to further define drill targets near the old workings in the pit area. The Company also located several old garimpero workings outside the pit area. The most significant workings are located 1.5 kilometres from the pit area. Sixty-four rock samples were also collected during this initial phase.
The Company is currently establishing a more permanent camp and widening the airstrip for later programs. The Company expects to announce the initial results within the next couple of weeks. All rock and auger samples are being prepared by Acme Laboratories in Itaituba and analyzed by Acme Laboratories in Vancouver. Jeffrey Reeder, P.Geo, is a qualified person as defined in National Policy 43-101, and is responsible for designing the exploration program and responsible for all technical information contained in this news release.
About Amerix Precious Metals Corporation (TSXV:APM)
Amerix Precious Metals Corporation is an Ontario company exploring for precious metals in Brazil. Amerix's objective is to create value for shareholders through expansion of bedrock gold resources, and development of placer and tailings gold resources. Brazil has enormous gold potential and is a proven mining-friendly country. The Corporation's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJG."
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 Corporation's expectations are disclosed in the Corporation'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.
For further information, please contact:
Amerix Precious Metals Corporation
CEO and President
Chief Financial Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Press Release, which has been prepared by management.
Copyright (c) 2010 Thenewswire.ca - All rights reserved.