Friday, May 30, 2025

Latest

Amex Exploration: PI Financial, Canaccord Reiterate Targets Following Latest Drill Results

Canaccord Genuity reiterated their 12-month price target of C$4.25 and their speculative buy rating on Amex Exploration (TSXV: AMX) after they announced the discovery of a new high-grade gold structure returning 31.87 gold per tonne over 5.1 meters on Perron.

Amex Exploration currently has four analysts covering the company with a weighted 12-month price target of C$4.47. This is down slightly from the beginning of the month, which was C$4.49. One analyst has a strong buy rating, while the other three analysts have buy ratings.

Tom Gallo, Canaccord’s mining analyst, writes, “In our view this is what the company was looking for regarding broader mineralization. The gabbro / mafic intrusive appears to be a more receptive mineral host than the rhyolite, where gold mineralization is confined to narrow veins.” He believes that this could be a game-changer for the company.

He talks about the results from the zones and specifically highlights the Denise Zone, which results were a lower grade than the previous results. However, results do indicate that there is a possibility of higher-grade mineralization. He writes, ” We view Denise as a potential bulk tonnage deposit that could supplement the HGZ in a mining scenario.”

Gallo expects that the company will release additional drill results from Perron in the coming months and writes, “We expect the drilling in 2020 to potentially lead to an initial resource for the Perron property in H1/21, which we believe will be a catalytic event.”

PI Financial also reiterated their C$4.15 price target and a buy rating on Amex Gold in a note this morning. Phil Ker, PI Financial’s mining analyst, writes that his takeaway of this discovery is that “the new discovery suggests that more major structural features within the Beaupré Rhyolite Bloc (BRB) could be gold-bearing in addition to the main structural contacts of the (BRB).”


Information for this briefing was found via Sedar and Refinitiv. 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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Cognetivity Neurosciences: Echelon Initiates Coverage With $0.85 Price Target

On Friday, Echelon Capital Markets initiated coverage on Cognetivity Neurosciences (CSE: CGN) with a speculative...

Monday, April 19, 2021, 10:36:00 AM

Freeman Gold Begins Lemhi Metallurgical Test Work

This morning Freeman Gold (CSE: FMAN) announced they have begun metallurgical test work on their...

Tuesday, January 19, 2021, 08:23:23 AM

Galaxy Digital: BMO Gives Price Target Slight Positive Bump After Strong Q3 Results

On November 15th, Galaxy Digital Holdings Ltd. (TSX: GLXY) reported its third quarter financial results....

Thursday, November 25, 2021, 04:27:00 PM

Verano: Canaccord Reiterates Ratings Following Pennsylvania Purchases

On April 22nd, Verano Holdings (CSE: VRNO) announced that they acquired two cultivation licenses in...

Saturday, April 24, 2021, 01:25:00 PM

Cormark: “Eguana Tech Is At The Very Forefront Of The Growing Wave Of Energy Storage”

Yesterday, Eguana Technologies (TSXV: EGT) released their full year 2020 financial results, alongside an operational...

Friday, January 22, 2021, 11:45:00 AM