- Junior miner Amex Exploration (TSXV:AMX) has advanced bulk sampling efforts at its Perron project in Quebec, yielding up to 200.80 grams per ton of gold over 0.65 metres, including visible gold, in a now finalized grade control program
- Amex Exploration is advancing significant high-grade gold discoveries and copper-rich volcanogenic massive sulphide zones across a 502.53 km² land package spanning Ontario and Quebec
- Amex Exploration stock last traded at C$3.74, adding 320.22 per cent year-over-year
Junior miner Amex Exploration (TSXV:AMX) has advanced bulk sampling efforts at its 65.75 km² Perron project, located 110 kilometres north of Rouyn-Noranda, Quebec, yielding up to 200.80 grams per ton of gold over 0.65 metres, including visible gold, in a now finalized grade control program to better define ore and waste boundaries before mining.
The program, focused on the Champagne zone, which features a nearly million-ounce resource, tightened sample spacing within the stopes selected for bulk sampling, allowing the company to enhance the associated geological wireframes and block model.
The preliminary economic assessment-stage Perron project is estimated to produce 1.66 million ounces of gold over a 17.5-year mine life at all-in sustaining costs of only US$1,061 per ounce, granting the project an after-tax net present value of C$1.08 billion backed by considerable leverage to the current gold price.
Management commentary
“This final batch of results from our grade control drilling once again adds another layer of confidence to the proposed mine plan for our bulk sample,” Aaron Stone, vice president of exploration at Amex Exploration, said in Tuesday’s news release. “Importantly, our grade control drilling was done with HQ-sized drill core rather than the regular NQ-sized core where possible, which adds further confidence to the representativity of the assay results. Now that the program is complete and assays have been compiled, we will have the geological wireframes and block model updated in the area surrounding the proposed bulk sample, in turn allowing for stope designs to be further refined and enhanced.”
“Our exploration team is eager to commence our inaugural drill program on Perron West in Ontario after the recent receipt of the drill permit. Pad construction has commenced and two drill rigs will be mobilized onto the project rapidly,” Stone added.
About Amex Exploration
Amex Exploration is advancing significant high-grade gold discoveries and copper-rich volcanogenic massive sulphide zones across a 502.53 km² land package spanning Ontario and Quebec.
Amex Exploration stock (TSXV:AMX) last traded at C$3.74, adding 320.22 per cent year-over-year, but only 38.01 per cent since 2021.
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