Amex Exploration (TSXV: AMX) has again encountered high grade gold mineralization while working to advance a phase one feasibility study at their Perron Project. A geomechanical drill program conducted at the Champagne Zone has unexpectedly resulted in the highest grade assay ever received on the property.
The three hole geomechanical drill program was designed to conduct rock mass characterization on the main lithological units within the area of the Champagne zone, with one of these holes unexpectedly encountering high grades of gold. Highlights from the results include:
- PEGT-25-001: 25.19 g/t gold over 32.80 metres from a depth of 227.5 metres
- Including 213.11 g/t gold over 3.75 metres
- And Including 1,106.50 g/t gold over 0.50 metres
- PEGT-25-003: 3.59 g/t gold over 11.70 metres from a depth of 447.90 metres
- Including 58.28 g/t gold over 0.70 metres
“The geomechanical program was designed with the primary goal of gathering information on all aspects of the rock mechanics surrounding the high-grade Champagne Zone, which is envisaged for toll-milling as described by our latest PEA study. These holes were designed to best intercept the important structures within and surrounding the Champagne Zone and not necessarily placed in important zones of mineralization, so the fact that PEGT-25-001 has produced the highest-grade assay to date on the property, is exceptional,” commented Aaron Stone, VP of Exploration for Amex.
The geomechanical program meanwhile is said to have positive results on rock mass quality in the rhyolite that hosts the Champagne zone, with the rock structure ideal for underground mining. Data collected will now be used to guide stope dimensions for the first phase of mining operations.
Amex Exploration last traded at $2.77 on the TSX Venture.
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