AmMex Gold Begins Drill Program at their Bailey Hills Project on the Carlin Trend, Nevada.OTTAWA -- AmMex Gold Mining Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMXG) (FWB (Fixed Wireless Broadband) See fixed wireless. :R5E)(WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) :A0KE72) is pleased to announce that a reverse-circulation drill program has commenced at their Bailey Hills property, located along the Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] Trend in Nevada. AmMex Gold has contracted an Ingersoll-Rand TH-100A, with Harris Exploration Drilling and Associates Inc. of Escondido California, to drill a minimum of 10,000 feet in 10 - 14 drill holes. Bill Reed, VP Exploration said, "I am very excited about the target we have identified at Bailey Hills. It can be described as the bounding structures of a horst complex of up-thrown Paleozoic carbonate units, the Devils Gate Limestone and the Webb formation, which hosts Carlin style gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at the Rain mine located to the NW where gold mineralization is contained in the breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. at the contact between the two units." A second CSAMT CSAMT Controlled-Source Audio-Magnetotelluric Technique survey was recently completed and used in conjunction with prior magnetometer, gravity and induced polarization surveys to delineate feeder zones in sufficient detail as to permit drill testing for a Rain-type exploration target. The project is along a prospective northwest structural zone, which hosts numerous world-class gold deposits and where the structural and lithologic li·thol·o·gy n. 1. The gross physical character of a rock or rock formation. 2. The microscopic study, description, and classification of rock. setting, both on a regional and property scale, is similar to that of the Rain/Emigrant deposits. Underlying the Bailey Hills property are the same units which host gold at Rain and proximal intrusions are noted at both. As of 2002, gold reserves and resources for the rain sub district totaled 3.93 million ounces. About Bailey Hills The Bailey Hills project covers approximately 4.5 square miles (approximately 3,000 acres) and consists of 150 mining claims within the southernmost part of the Carlin trend, within the Great Basin in Nevada. Currently, about 11 percent of the total world production of gold is produced annually from this region. AmMex Gold can earn an 80 percent interest in the property from Global Minerals Ltd. (TSXV:CTG CTG Cartridge CTG Center for Technology in Government (SUNY, Albany, New York) CTG Center for Technology in Government CTG Computer Task Group (IT consulting company; Buffalo, NY, USA) ) with expenditures of $4 million (U.S.) within a three-year period, payable as follows: $1 million (U.S.) in the first year, $1.5 million (U.S.) in the second year and $1.5 million (U.S.) in the third year. 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 the El Tiliche project in Mexico, the Bailey Hills and Ox Creek properties in 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 web site at: www.ammexgoldmining.com (now available in the following languages: English, German, Mandarin, Spanish and French). Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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