Amex Exploration (TSXV: AMX) this morning announced the discovery of a new high grade gold structure at Perron following the return of drill results from the ongoing 300,000 metre drill program being conducted on the property. The company this morning reported highlight values of 31.87 g/t gold over 5.10 metres.
The new zone is reportedly located 650 metres to the northwest of the properties High Grade Zone, and 500 metres northeast of the Grey Cat Zone. The discovery was in a location deemed to be highly prospective but was previously untested, with similar targets remaining on the proprerty.
Mineralization found within the drillhole, labeled PEX-21-041, is reportedly associated with quartz veining, with veining and intervals within the core indicating that the area is possibly folded. The drill hole was located in the margin of an enclosed mafic body hosted within the Beaupré Rhyolite Bloc.
The Beaupré Rhyolite Bloc notably includes the Perron Fault to the south, which is the namesake of the property, as well as the Normetal Fault to the north, home of the historic Normetal Mine owned by Starr Peak Exploration (TSXV: STE). The Perron property is currently the subject of an ongoing 300,000 metre drill campaign, being conducted via the use of ten drill rigs. Notably, two rigs are moving to this most recent discovery to further drill test the target.
|Hole ID||From (m)||To (m)||Length (m)||Au (g/t)|
Amex Exploration last traded at $3.45 on the TSX Venture.
Information for this briefing was found via Sedar and Amex Exploration. 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.
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