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Amex finds new gold mineralization in deepest drilling to date at Perron

Jun 27, 2024


Amex Exploration Inc. has intersected gold mineralization in the deepest drilling to date in the western area of the Gratien Gold Zone ("Gratien"), on the Perron Project in the Abitibi region of Quebec. The mineralization appears to be a new lens or 'stack' that make up the multiple stacked lenses of mineralization representing the Gratien Gold Zone. The new drilling has opened up Gratien for significant expansion at depth, which also remains open to the west. With a total strike length of 1,200 m and growing, the Amex team believes Gratien has the potential to develop into an orebody of significant size and grade.

Notably, the new lens of mineralization was found within the rhyolite of the Upper Gratien Gold Zone, located within the Beaupré Block. The previous deepest intercepts in the western portion of Gratien were found within the andesite of the Normétal South Block. Amex believes this deep drilling has opened up a significant growth potential in the Upper Gratien Zone and appears to be on strike with the Grey Cat Zone, which is structurally compelling. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal section of Gratien, Figure 4 for images of gold mineralization in Gratien, Table 1 for assay results, and Table 2 for drillhole coordinates. 

Highlights include:

Deep Western Gratien Zone

  • PEG-24-764 returned 7.40 m of 5.15 g/t Au, including 1.70 m of 17.32 g/t Au at a vertical depth of ~325 m in the Upper Gratien Gold Zone 
  • PEG-24-767 returned 1.20 m of 20.28 g/t Au, including 0.55 m of 42.88 g/t Au at a vertical depth of ~280 m in the Upper Gratien Gold Zone

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "We are impressed by the continuing growth in footprint that the Gratien Gold Zone is displaying. The zone had not been given much attention in previous years while the High-Grade and Denise Zones were being rapidly expanded upon, but with a focused drill program, Gratien is showing us what it can provide. Much more work remains to be done to continue expanding this exciting zone further at depth and to the west. The Company is excited by the prospect of higher-grade pockets within both the rhyolite of Upper Gratien and the andesite of Gratien Main. Our geological team on site has been working on improving the structural knowledge of the project. In addition, the newly discovered dike within the JT Zone is providing strong clues on the controls of the structural emplacement of gold mineralization within the entire Beaupré block and has given us exciting untested prospects that require drilling. The entirety of the Perron project remains ripe for further gold and VMS discoveries."

While today's results represent the deepest drilling to date in the western area of Gratien, all intercepts were made within 350 m of vertical depth or less, which remains to be relatively shallow. The Amex team is compelled by the expansion potential at Gratien with further deep drilling. Five drill rigs continue to operate on the Perron Project and the Company is forecasting 80,000 m of diamond drilling in 2024. 

The Company also wishes to provide an update on the upcoming NI 43-101 resource estimate. Amex has decided that it will include the recently discovered JT Zone into the resource along with this year's drilling in the Gratien Zone. The Company is now aiming for a release towards the end of Q3 and remains on track for the release of the PEA in Q4. Amex would like to thank its shareholders for their continued patience as the Company strives to release a resource which highlights the growth potential of the Perron project.



Tags: Quebec / Exploration / Gold / All Articles