Unveiling a potentially massive high-grade gold resource
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| | | High-Grade Gold
– And Lots Of It
| | Amex Exploration (AMX.V; AMXEF.OTC) has accomplished a remarkable 400,000 meters of drilling and is on the verge of producing what could be a stunning resource estimate on its Perron project.
Given the uber-high grades involved, the resource could be a catalyst for a much higher share price, especially since Perron is located in the prolific Abitibi Greenstone Belt that spans Quebec and Ontario.
With drills continuing to turn on new targets, Perron is set to grow significantly from here.
| | | High-grade gold...and a lot of it...in a world class gold district.
| That’s what Amex Resources (AMX. AMXEF.OTC) offers investors.
Considering the remarkably high gold grades that Amex’s flagship Perron project has routinely provided through the drill bit, no one has ever doubted the exceptional richness of this project.
| The question has always been, just how much gold does it contain?
| Considering it sits squarely in the world-famous Abitibi Greenstone Belt, home to over 200 million ounces of gold deposits and production, expectations are understandably high.
| This is despite having drilled an amazing 400,000 meters on the Perron project since 2019.
| The result is an extraordinary situation in which Amex is poised to announce a high-grade resource report...
Obviously, this could be one of the most impactful news releases for any junior mining company in recent years.
It doesn’t end there: Not long after this resource estimate hits the market, Amex will follow with an equally compelling preliminary economic estimate (“PEA”).
That’s two blockbuster catalysts in a row.
Perron has significant expansion potential on both its west side and its east side and, thanks to a C$26.7 million recent strategic investment by Eldorado Gold, Amex has the capital to continue drilling the project aggressively through the end of 2025.
| Here’s the thing: Amex’s current market cap does not reflect either the current size or the potential of this world-class Abitibi gold discovery.
| And this sets up a rare opportunity....
| Robust Resource Estimate On The Way
| Perron’s Eastern Gold Zone, where most of the 400,000 meters of drilling has taken place, contains several parallel mineralized zones, highlighted by the High Grade zone and the Denise zone.
Both zones have yielded multiple gold intercepts with either high-grade underground or bulk tonnage potential.
| Highlights from the deeper (eastern) High Grade zone include 35.9 g/t gold over 6.75 meters, 102.1 g/t gold over 6.1 meters, 29.6 g/t gold over 8.4 meters and 37.6 g/t gold over 6.20 meters.
Highlights from the shallower (western) High Grade zone include 78.6 g/t over 5.9 meters, 43.7 g/t over 6.80 meters, 84.0 g/t gold over 5.6 meters and 43.7 g/t gold over 6.9 meters.
| Denise’s western zone has produced mostly longer, nearer-surface intervals of bulk-tonnage mineable gold. Highlights include 65.0 meters of 1.89 g/t gold, 58.5 meters of 1.82 g/t gold and 189.4 meters of 1.07 g/t gold.
Denise’s eastern zone, located 50 meters to 100 meters south of and parallel to the High Grade zone, has also yielded impressive intervals, including 41.3 meters of 0.88 g/t gold and 30.9 meters of 11.6 g/t gold.
| The combination of high-grade, underground-mineable gold with lower-grade, bulk-tonnage gold should make Perron’s resource estimate, when it comes out in the weeks just ahead, world class.
| This will be a stunning announcement... and should provide a big-time catalyst for Amex Exploration’s share price.
| And More:
A New Target Yields Impressive Grades
| While Amex continues to drill the eastern end of Perron with definition and expansion drilling, it is also testing the western section of the property.
The area has been opened up in the past year, thanks to logging roads built by the Quebec government to help clear fire-damaged forests. Those roads have given Amex better access to drill targets on that side of Perron, and the focus of late has been on the western end of the Gratien zone.
| The early results are rewarding that focus: Assays released last week from Gratien’s west side were highlighted by 3.5 meters of 76.7 g/t gold from 130 meters depth and 8.2 g/t gold over 7.3 meters from 160 meters depth.
| While the Upper Gratien is found within the rhyolite of the Beaupre Block, other lenses of the Lower Gratien are found in the andesite of the Normetal South Block. These latter discoveries reveal a whole new area on the south side of Perron for Amex to evaluate.
With 60,000 meters of drilling planned for 2024 and 60,000 meters planned for 2025, this area will be a target, along strike and at depth.
Most of Gratien has only been traced to 200 meters depth. Given the success hitting high-grade gold at depth that Amex has had on the eastern side, the company is excited to drill deeper there.
| Abitibi Location Means Infrastructure
| Gratien is pure blue-sky upside for Amex and won’t be included in the resource estimate due out in Q2.
| As mentioned, another big catalyst for Amex will be the PEA it is planning for Q3 2024.
| The economic study will benefit greatly from Perron’s location in the infrastructure-rich Abitibi.
The project is near the town of Normetal, which has a historic rehabilitated existing tailings facility. Water is abundant and the town, which was founded in the 1960s as a mining town, would love to experience new employment in the area.
Gold mills that could potentially process the project’s ore are abundant in the Abitibi region. Water, road and power are all readily available.
| In short, if you were going to pick a place anywhere in the world to build a mine, this is it.
| Given these premier advantages, Amex’s PEA could well surprise the market to the upside in terms of its economics.
| | Three Big-Impact Catalysts Just Ahead
| To sum up, Amex Exploration is an advanced-stage gold explorer with major catalysts ahead...and all coming as the gold price is barreling higher.
| • First, there’s the resource estimate for Perron after more than 400,000 meters of drilling.
• Then there’ll be the preliminary economic assessment, which will combine the high-grades found at Perron with the infrastructure advantages provided by its location in Quebec’s portion of the Abitibi.
• And finally, there will be ongoing drill results from the western end of Perron, where recent results from the Gratien zone suggest this area can add significantly to the high-grade resources from the eastern side of the project.
| A high-grade gold resource. A potentially eye-popping PEA. And an aggressive drill program over the next two years with the promise of many more high-grade hits.
This combination of catalysts is virtually unheard of in the junior mining industry and they combine to make Amex Exploration a company that demands your immediate due diligence.
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