Amex Exploration (AMX.V) is still aggressively exploring its flagship Perron project in Québec and we are looking forward to seeing the company’s maiden resource estimate which should hopefully be completed by the end of this year.
But as the exploration activities are continuing, Amex continues to discover new interesting zones and recent drill results have confirmed the discovery of a new gold-bearing zone, now called the Team Zone. The Team Zone is located just about 600 meters to the northeast of the High Grade Zone and 300 meters northeast of the E2 Gold zone. Amex had a pretty good idea it was sitting on a new discovery when 14 of the 20 holes drilled on this target contained visible gold as a 70% success ratio on a new target is phenomenal.
Due to persisting delays at the assay lab, Amex has only provided the assay results from a ‘first pass’ screening as it only reported on the samples that were sent for screen metallic assays. The standard operating procedure obviously also calls for a fire assay procedure to be completed and Amex will report on the fire assay results when the labs have worked through their backlog and have dealt with Amex’ submitted samples.
As these are just preliminary results on certain samples that have been sent, it is too early to figure out what the true width of the mineralization is, but the high-grade nature of the newly discovered mineralization is pretty clear as Amex reported numerous intervals with an average gold grade exceeding 10 g/t. Most of these intervals are pretty close to surface (within 200 meters from surface) which makes the Team Zone a really intriguing target. And although the surface are is pretty small (it is currently estimated to be 200 meters by 100 meters), you don’t need a lot of tonnage to develop this zone as a satellite deposit to the main zones of the Perron project.
Disclosure: The author has a long position in Amex Exploration. Amex is a sponsor of the website. Please read our disclaimer.
