Amex Exploration (AMX.V) continues to release excellent drill results from the Denise Zone, part of its Perron project in Québec. It has now released the assay results from nine holes drilled at Denise and an additional eleven holes drilled at the newly discovered E2 Zone.
At the Denise Zone, the recent drill results seem to confirm the Eastern side of the Denise Zone is replicating the western zone which has already been well-defined thanks to the dozens of holes drilled in that section. This means the potential for higher grade ore shoots now also exists at the Eastern extension as hole PE-22-510 shows with a total interval of almost 31 meters at 11.57 g/t including two very high-grade intervals of 0.5 meters each, carrying respectively 55.1 g/t gold and 601.5 g/t gold.
Other holes seem to have weaker mineralization but that is not unlike the Western Zone at Denise and it’s all about connecting the dots to end up with a resource estimate and a mine plan. The Eastern part of the Denise Zone will obviously need more drilling but considering Amex’ very strong efficiency ratio and continuously improving understanding of the mineralized system there seems to be a good potential to rapidly add tonnes and ounces at Denise.
Amex Exploration also reported on eleven holes drilled on the recently discovered E2 Zone and the interpretation of these holes has helped the company to better understand the geometry and plunge of the E2 zone. The fact that it roughly parallels the High Grade Zone and is located just 250 meters away from that zone creates a lot of optionality when trying to put a development scenario together.
Amex Exploration seems to have an excellent grasp on the geological structures at Denise, the HGZ and E2 and the excellent efficiency ratio with virtually all holes hitting gold mineralization are a testament to the company’s exploration team. The maiden resource estimate at Perron should hopefully be published by the end of this year and we are looking forward to seeing the initial number.
Disclosure: The author has a long position in Amex Exploration. Amex is a sponsor of the website. Please read our disclaimer.
