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AMERIX UPDATES EXPLORATION AT LIMAO GOLD PROJECT;
DRILL TARGET OUTLINED AT SOUTH GRID
January 16, 2012 � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � News Release 2012 - 01
TORONTO, CANADA - Amerix Precious Metals Corporation (TSX Venture: APM)� (“Amerix” or the “Company”) reports that incoming results from its 2011 exploration program have outlined anomalous gold targets defined from geochemical surveys that have been conducted across several grids established on the Company’s 10,000 hectare Limão Gold Property, located in the Tapajós District, Pará State, Brazil.
Amerix contracted Fugro Aviation of Brazil for an airborne magnetic and radiometric survey over its property as reported in News Release NR 2011 – 09.� TerraNotes Ltd Geophysics of Toronto provided additional interpretive consultation of the airborne data.� New grids, existing grid extensions and infill lines have been completed as a continuation of Amerix’s 2009 and 2010 geochemical surveys, as well as over new, prospective areas identified from the airborne geophysical data.
The geochemical grids cover an area of approximately 7.7 square kilometres of the approximate 100 square kilometre Limão property.� Grids were primarily sampled using a manual auger to take 1 metre deep samples at 20 metre spacing along the grid lines. Secondary, closer spaced grid lines and sampling was done over areas with anomalous geochemical results. Each grid line was mapped and every sample was geologically logged and then prepared for shipping and analysis. All samples were prepared at Acme Labs preparation facility in Itaituba, Brazil and samples were shipped to Acme’s Santiago, Chile Laboratory for fire assay gold analysis. The Company utilizes a QA/QC chain of custody program overseen by its geologists concerning its samples. Over 3,700 samples were taken during the 2011 program covering 4 principal grid areas and the geochemical results are presently being received by the Company in batches. These 4 grids are outlined on the accompanying Figure 1.
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Complete results have been received for the South Grid geochemical survey and these are presented in the accompanying Figure 2. The South Grid covers 0.6 square kilometres and was established primarily to cover an area of past, small scale, informal mining. Importantly, the 2011 geochemical survey identified a significant soil anomaly at the South Grid. The anomaly is defined by greater than 20 ppb gold traceable for 350 metres along a 290 degree trend that is coincident with the old workings. Company geologists have identified quartz veining occurring along easterly to westerly oriented, sheared contacts within predominantly granitic host rocks as exposed in a shaft and a cut face at the workings. Rock sampling and geologic mapping in the immediate vicinity of these workings and along the coincident gold geochemical anomaly will continue in the early 2012 exploration program. Amerix anticipates that this target will be developed for drill testing in the upcoming 2012 drill campaign. A second gold in soil anomaly occurs in the east section of this grid area. This anomaly extends for approximately 250 metres in an easterly to westerly direction and is open to the east. Additional geochemical and rock sampling will be undertaken to define the extensions of this target. Several other minor anomalies also occur on the South Grid and may be the subject of further detailed survey work.
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Complete results from geochemical analyses for the other three grids are expected later in the first quarter. The Company will provide these results as it prepares for drilling that is anticipated to begin after the rainy season and later in the spring. Amerix is well funded to complete its first drill campaign at the Limão project, located in the historically gold rich Tapajós district of Brazil.
Mr. Ryan Grywul, P.Geo. 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
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Amerix Precious Metals Corporation is an Ontario company, managed by an experienced geologic 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."
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For further information, please contact:
Amerix Precious Metals Corporation� � � �
Steve Brunelle� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Dan Hamilton
President and Chief Executive Officer� � � � � � � � � � � � � � � � � Chief Financial Officer
Phone: 647-260-0470� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � Phone: 647-260-0470
steve.brunelle@amerixcorp.com� � � � � � � � � � � � � � � � � � � � � � � � dan.hamilton@amerixcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 Company’s expectations are disclosed in the Company’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.
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