Amex Exploration Inc. [AMX-TSXV; AMXEF-OTCQX; MXo-FSE] reported multiple drill results from the Eastern gold zone on its 100%-owned Perron property in northwestern Quebec.
At the Eastern gold zone (EGZ), a number of holes are reported which tested the depth and eastern extension of the High Grade Zone (HGZ). Drill hole PE-19-165 intersected 28.97 g/t gold over 5.60 metres, including 124.99 g/t over 0.50 metres, including 164.32 g/t over 0.60 metres at a vertical depth of approximately 660 metres. This intercept increases the bonanza-grade core of the HGZ on the eastern depth extension by approximately 75 metres. Drill hole PE-19-163 intersected 9.48 g/t gold over 7.70 metres, including 77.33 g/t over 0.90 metres at a vertical depth of approximately 650 metres. This is the most easterly hole drilled to the HGZ to date and increases the strike by approximately 50 metres. In addition, all pending holes at the HGZ have encountered visible gold mineralization.
Amex has completed two of three large diameter (PQ size) drill holes in the near-surface portion of the HGZ. Abundant visible gold was encountered in both of the completed holes, indicating that large diameter drilling may increase the amount of gold encountered in drilling on this high-grade system. The core from these holes will be analyzed for a comprehensive suite of tests which will provide an indication of the metallurgy of the mineralization as well as composite gold grades for each interval submitted. Amex expects these results to be received in late July to early August.
The company has also begun testing the near-surface portion of the Denise Zone at the EGZ, with significant visible gold also identified at depths less than 100 metres vertically. The fifth and sixth drills are scheduled to arrive and begin working within the next two weeks, as part of Amex’s fully financed 200,000-metre drilling program.
Jacques Trottier, Executive Chairman of Amex, said: “These results indicate the continual growth and expansion of the Eastern gold zone. We are hitting very high-grade gold at the HGZ as we explore the zone at depth and along strike. In addition, we are very pleased with the visuals on the drill holes completed for metallurgy and anxiously await the results.”
Amex is is focused on its Perron gold project located 110 km north of Rouyn-Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern gold zone, the Gratien gold zone, the Grey Cat zone and the Central polymetallic zone.
In early trading on June 26, shares of Amex Exploration gained $0.18, or 7.5%, to $2.58 on a volume of 310,500 shares traded.