Amex Gold Mining (TSXV: AMX) has drilled into a new gold zone at its Perron project, with the new zone found 165 metres below the underground ramp the company started driving earlier this month.
The discovery is called the Rosé Zone. To date the zone has been traced over 275 metres vertically and 70 metres along strike, with the zone open in several directions. Visible gold was logged in hole PE-26-950 at 410 metres vertical depth, which leaves room to extend the zone at depth.
Highlights from the zone include:
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- PE-26-934: 8.02 g/t gold over 4.30 metres from a depth of 253.70 metres,
- Including 23.93 g/t gold over 1.15 metres
- PE-26-908: 11.78 g/t gold over 1.80 metres from a depth of 323.20 metres,
- Including 30.86 g/t gold over 0.65 metres
- PE-25-878: 10.94 g/t gold over 1.20 metres from a depth of 322.00 metres,
- Including 21.22 g/t gold over 0.55 metres
The zone sits directly beneath the ramp Amex is driving at Perron. The company says that means Rosé could be reached with limited additional underground development, and follow-up drilling could be done from underground once the ramp is further along.
“The discovery of a new zone in such close proximity to our fully financed ramp development is what truly sets the Rosé zone apart,” said Aaron Stone, vice president of exploration. “While it is early days in the life of this discovery, the Rosé zone has the potential to add important ounces to the future proposed operation.”
Early observations suggest the gold is hosted in a set of tension veins branching off a larger structure. Amex thinks that same structure may also control the Alizée Zone to the north-northwest, and it plans more drilling and modelling to test the idea.
The ramp itself only got underway this month. Amex finished portal construction on September 2 and fired the first blast the same week. The ramp is designed to reach about 235 metres vertical depth and give direct access to the high grade Champagne Zone, where the company plans a 40,000-tonne bulk sample.
Amex Exploration last traded at $4.56 on the TSX Venture.
Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
