MONTREAL, QUEBEC, Nov. 10, 2010 (Marketwire) -- Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") wishes to announce that Abitibi Geophysique based in Val d'Or,Quebec has recently completed geophysical surveys on its Malartic Property.
The survey has identified the presence of several high priority anomalies associated with strong conductors, which appear to be excellent new exploration targets within the property.
The Malartic property is part of a Joint-Venture Agreement between Amseco Exploration Limited and Les Mines JAG Ltee. The property is located approximately 7 km north of the town of Malartic, Quebec.
The Malartic Property consists of twenty (20) contiguous mineral claims,covering a total surface area of 720 hectares located within Malartic Township, Quebec(NTS-32D-01).
The geophysical work completed consisted of an Induced Polarisation (IP) survey and ground Magnetics. The survey was conducted on a cut grid with a line space separation of 100 meters. The Time Domain type IP survey covered a total distance of 38.6 km and utilized a 25m X 25m dipole-dipole with a N=6 configuration for optimal resolution at depth.
The ground Magnetics survey covered a total distance of 39.5 km across the property. A total of 19 lines were completed from L3+00W to L15+00E with an orientation of N035 degrees.
The company has received the final report and complete geophysical interpretations from Abitibi Geophysique. The geophysical survey was able to identify a total of 34 separate IP anomalies. Several of these anomalies are associated with an accompanying magnetic signature. A significant number of these anomalies are located within areas of the property where historical data shows that very limited exploration has been completed.
Results from the interpretation of the geophysical data by Abitibi Geophysique identified a total of 14 targets which are recommended for follow-up drilling. The geophysical data from the other 20 IP anomalies identified by the survey have been interpreted to potentially be associated with near surface mineralization where surface prospecting, mapping and trenching are recommended.
The company will evaluate all the newly generated geophysical anomalies and exploration targets identified within the Malartic Property in order to complete a comprehensive future exploration program going forward.
Luciano Vendittelli, P. Geo. (Quebec), consultant geologist is the Qualified Person (under National Instrument NI-43-101) on the Malartic Property and is responsible for the preparation of this news release.
We Seek Safe Harbour
Readers are cautioned that the term mineral resource within this news release are not economic mineral reserves and that their economic viability has not been established with regards to the terms of legislation under National Instrument NI-43-101. Historical statements contained within the news release are provided on a best effort basis by the company based on a review of publically available documents relative to the property.
Forward Looking Statements
This news release may contain certain forward looking statements within the meaning of the Canadian securities legislation. These forward looking statements relate to the company's future exploration plans, activities and expenditures with regards to the property. The forward looking statements within this news release represent the company's management best knowledge and judgment based on the current facts available at the time of this news release. Forward looking statements involve a certain amount of known and unknown risks and factors which may cause the actual results and achievements of the company to be materially different from the company's expectations, objectives and projections.
Neither 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.
Amseco Exploration Ltd.
President and Director