AmMex
Gold Mining Corp. to Assay Historic Drill Samples from their Castle
Copper/Molybeum project for Precious Metals
AmMex Gold Mining Corp.
(OTCBB:AMXG)(FWB:R5E)(WKN:A0KE72) is pleased to announce that they have located
preserved samples of historic drill core from the Castle
Copper/Molybdenum project. The drill core is located at the Arizona Geological
Survey in Tucson,
where AmMex has obtained permission to submit samples for precious metals
assaying. Samples will be obtained from some of the following drill holes,
listing historic copper and molybdenum values that were reported in the
enriched copper sulphide blanket within a large primary copper-molybdenum
system;
UC-1 reported
65 feet of 1.57% copper and 0.057% molybdenum
SM-39 reported 50 feet of
1.18% copper and 0.063% molybdenum
SM-32 reported 130 feet
of 0.72% copper and 0.062% molybdenum
SM-20 reported 150 feet
of 1.49% copper and 0.063% molybdenum
The enriched copper
blanket was historically estimated at 40 to 50 million tons within a larger
scale inferred resource, estimated at 700 million tons grading 0.26% copper and
0.056% molybdenum or 400 million tons grading 0.334% copper and 0.068%
molybdenum.
Most copper mines in Arizona produce precious
metals (gold, silver, platinum group) as a by-product. For example, Asarco's Mission mine produced
540,043 ounces of silver in 2003 and their Ray mine produced 179,146 ounces of
silver in 2006.
Bill Reed, Exploration Manager,
said, “When most of the drilling was done at the Castle property in the
1960s, the drill core was never assayed for precious metals because prices were
too low. The Watts Griffis report of 1992 indicates there is precious metals in
the copper/molybdenum system but no values were reported. Assaying the old
drill core will give us a good indication of the precious metals potential of
the mineralized system at the Castle Copper. These precious metals produced as
a by-product could add considerably to the potential economics of the
project."
AmMex will submit the
samples to ALS Chemex lab in Vancouver
and expects to report results in 4 to 6 weeks.
About
AmMex Gold
AmMex Gold Mining Corp. is a precious metals exploration and development
company. It is management's objective for AmMex Gold to become a gold and
precious metals producer by developing projects in Mexico
and Nevada,
and by acquiring other advanced-stage projects and/or producing mines in proven
precious metal districts throughout the world. The Company trades on the OTC
market under the symbol “AMXG” and on the Frankfurt Exchange under
the symbol “R5E”. For more information, please visit the
Company’s website at www.ammexgoldmining.com (Available in
English, German, Mandarin, Spanish and French).
Safe Harbor
Statement under the Private Securities Litigation Reform Act of 1995: The
statements contained herein which are not historical are forward-looking
statements that are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed in the forward-looking
statements, including, but not limited to, certain delays beyond the company's
control with respect to commencement of drilling operations, concentration in
mineral deposits, delays in testing and evaluation of ore samples, and other
risks detailed from time to time in the Company's filings with the Securities
and Exchange Commission.
--------------------------------------------------------------------------------
AmMex Gold Mining Corp.
Bill Reed, VP of
Exploration
Tel: 520-907-9986
Toll-free: 1-866-481-2233
Investor relations 613 226-7883
Clinton Joseph
Paramount Gold Mining Corp.
346 Waverley St.
Suite 110
Ottawa, Ontario, K2P
0W5
T:613-226-9881 x202
F:613-226-5106
C:613-862-1495
www.paramountgold.com