Amex Exploration (AMX.V) has released the assay results from the ongoing drill program on the flagship Perron project in Quebec. The company released the results from 36 holes drilled on the Denise Zone, which is a part of the Eastern Gold Zone, and those 36 holes were focusing on extending the known strike length of the Denise Zone while also completing a definition drill program as Amex is gearing up for a maiden resource estimate at Perron.
The headline result of 44.8 meters containing 8.25 g/t gold sounds phenomenal, but when you filter out the 0.5 meters of 602 g/t gold and the 0.5 meters containing 34.29 g/t gold, the gold value in the residual 43.8 meters was approximately 1.17 g/t gold. Obviously still good enough for an open pit scenario, but the thick interval was fueled by the 0.5 meters of 602 g/t gold (which will be capped in a resource estimate as well).
The main takeaway from the exploration update is Amex Exploration tightening up the Denise Zone. As you can see in the image above, drill spacing between holes is getting narrower and this will further increase the confidence in the Denise Zone which appears to be a ‘hybrid’ system that could be amenable to both bulk tonnage as well as high grade vein mining. The Denise target remains very important for Amex as its upcoming winter drill program will be testing the expansion potential of Denise to the east along strike where it anticipates to find more gold along an additional strike length of a kilometer.
And of course, Amex is still waiting on the lab results for almost 10,000 samples from drill holes all over the Perron project.
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