EXPLORATION & DEVELOPMENT

High grades point to deeper potential at Perron

Amex will target deeper mineralisation at flagship Quebec project

Staff reporter

This article is 5 years old. Images might not display.

The company said the results indicated the High Grade Zone at the Eastern Gold Zone (EGZ) extended close to surface and was robust and high grade, laterally and to depth.

Among the highlights, it hit 0.8m at 248.05g/t gold from 297m; and 0.5m grading 156.83g/t within 1.15m at 89.59g/t from 85m, and identified visible gold in recently completed holes awaiting assay results.

"We are very excited about the potential of the system at depth and our next holes are targeting deeper gold mineralisation," chairman Jacques Trottier said.

Amex shares spent the bulk of 2018 below C10c then leapt to an eight-year high of $1.52 in February following support from Sprott and a series of high-grade intercepts at EGZ.

Sprott now holds 8.5% of the company, according to a presentation yesterday, after his 2176423 Ontario Ltd acquired $3 million (US$2.2 million) of the 75c units in Amex's February placement that raised $5.4 million (US$4 million) for exploration at Perron and general working capital.

Amex's previous placement in December had raised $552,000 at 8c per unit.

Its shares closed down 4c yesterday to $1.09, capitalising it at $59.2 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.