In two separate exploration updates, Amex Exploration (AMX.V) continues to release positive results from its Perron exploration project in Québec. At the end of June, the company released the highest grade drill results it ever encountered on the property with 6.15 meters containing 79.22 g/t gold, thanks to an ultra-high grade result of 0.5 meters of 929.24 g/t gold. IN this hole, the residual value of the remaining 5.65 meters is still about 4 g/t gold so while the narrow interval clearly had an impact on the wider interval, it’s actually very encouraging the remaining 5.65 meters still contained mineralization above the traditional cutoff grade for this type of deposit.
Even more important than the grade is the additional confirmation of the exploration model offered by this interval as it expands the previously encountered high-grade area in the upper portion of the High Grade Zone.
Subsequent to releasing the high-grade results, Amex also released the assay results from the Denise zone, which is part of the Eastern Gold Zone and located just 20-100 meters from the . The grades aren’t as spectacular, but the company is mainly interested in the consistency of the mineralization: with almost 40 meters of 1.58 g/t gold and 12 meters of 3.14 g/t gold, you can rapidly build tonnes and ounces.
These drill results are also expanding the Denise zone to a strike length of 450 meters, and Jacques Trottier, the chairman of Amex, shares our thoughts on rapidly adding tonnes as his quote confirms it’s the company’s expectation Denise will ‘contribute a meaningful number of ounces in the upcoming maiden resource’.
Disclosure: The author has a long position in Amex Exploration. Please read our disclaimer.