EXPLORATION & DEVELOPMENT

Amex near high on Eastern Gold Zone results

Visible gold from ongoing drilling at Perron

Staff reporter
 Visible gold from ongoing drilling at Perron

Visible gold from ongoing drilling at Perron

Its shares shot to a 4.5-year high of C63c at the end of January as the market digested its intersection of 1.7m at 393.33g/t gold from 225.85m in PE2019-22, the first drill hole of 2019 into the Eastern Gold Zone.

The company said the EGZ could be followed from surface to a vertical depth of 375m over a minimum strike length of at least 300m, with chairman Jacques Trottier saying at the time the goal of this year's programme was to target the higher-grade zone and trace it closer to surface.

Among further highlights reported yesterday, Amex intersected 5.85m at 24.06g/t, including 0.65m at 214.71g/t, which the company said verified vertical continuity in the near-surface portion of the system.

It also reported intersecting visible gold in the first 25m step-out hole testing the lateral extent of the high-grade zone.

Further results from PE2019-22 included visible gold in the original low grade zone and a second lower grade zone of 40m at 0.5g/t gold.

Amex has spent more than $9 million to date on exploration at Perron and said the current programme was aiming to provide a basis for a maiden resource estimate.

The company raised $552,000 (US$421,000) in an upsized placement in December at 8c per unit, for drilling at Perron and general working capital.

Its shares had spent much of 2018 below the 10c mark.

Amex lost 10c or about 16% yesterday to close at 52c, capitalising it at $24.3 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.