Amerix and Stroud Resources Commence Drilling at Santo Domingo; Increase Interests in Mexican Subsidiary.TORONTO -- Amerix Precious Metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:APM (Advanced Power Management) A programming interface (API) from Intel and Microsoft for battery-powered computers that lets programs communicate power requirements to slow down and speed up components. See ACPI. APM - Advanced Power Management ) and Stroud Resources Ltd. (TSX VENTURE:SDR See software defined radio. ) today announced that drilling has commenced on their jointly owned Santo Domingo silver-gold property in Mexico. The $1.5 million exploration program operated by Stroud includes a recently completed 2.8-km road enabling drilling along the entire 700-metre strike length of the known 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. . Initial plans call for a 15-hole program totaling 1,500 meters. Previously announced drill hole intercepts include 229 grams per tonne (gpt) silver, 0.57 gpt gold across 24.0 m; 123 gpt silver, 0.39 gpt gold over 45.3 m; and 79 gpt silver, 0.20 gpt gold over 24.0 m. Stroud and Amerix, equal shareholders in the Mexican subsidiary Compania Minera San Diego y La Espanola, S.A. de C.V. (SDLE), have acquired the remaining 8.7% minority interest from Spanish interests. With the acquisition, Stroud and Amerix each hold a 50% direct interest in SDLE, and indirectly in the Santo Domingo silver/gold project. Amerix and Stroud each paid US$200,000 for a combined total of US$400,000 in cash and each granted to the vendor a 1.0% net smelter return royalty (NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there ) on future production. Payments will be required to be made on a quarterly basis, beginning three months after commercial production is achieved, and would be shared equally by Stroud and Amerix up to an aggregate maximum of US$2.45 million. About Amerix Precious Metals Corporation Amerix Precious Metals Corporation is an Ontario corporation that explores for precious metals in Brazil and Mexico. Santo Domingo, the Mexican property, is a silver-gold project about 90 km north of Guadalajara. Vila Porto Rico and Limao, the Brazilian properties, are gold projects in the Tapajos Gold Province in Brazil. The Company's shares trade on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "APM". If you would like to receive press releases via email please contact heather@chfir.com and specify "Amerix press releases" in the subject line. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release Amerix Precious Metals Corporation (TSX VENTURE:APM) |
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