Amex Exploration (AMX.V) released additional assay results from its ongoing drill program on the Perron flagship project in Quebec’s Abitibi region. The newly discovered Team Zone, which is just a few hundred meters away from the E2 Gold and High Grade Zones. The company has already outlined a mineralized footprint of about 300 meters by 250 meters and has been able to confirm gold mineralization to a depth of approximately 400 meters (and it remains open at depth and along strike).
This new discovery keeps on giving as the company has now encountered gold in every single hole it has drilled so far on the Team Zone. Recent drill results include 10.5 meters of 2.71 g/t (including 0.5 meters of almost 39 g/t, indicating the remaining 10 meters had an average grade of 0.9 g/t gold) and 8.2 meters containing 4.73 g/t gold (including 1 meter of 27.1 g/t gold indicating the remaining 7.2 meters contains an average grade of just over 1.6 g/t).
The recent holes were drilled in several orientations as Amex Exploration is still getting a better understanding of the structural controls of the Team Zone, and it is now starting to look like the new zone consists of an eastward plunging body with mineralization starting at surface. It’s still early days at the Team Zone, but the drill results are very encouraging and a good enough reason for Amex to have delayed its resource estimate (which was originally slated for completion by the end of last year).
Disclosure: The author has a long position in Amex Exploration. Amex is a sponsor of the website. Please read our disclaimer.
