Amex Exploration (TSXV: AMX) is one step closer to seeing production commence on their flagship Perron project in Quebec’s Abitibi region. The company this morning indicated that they have submitted a permit application for an underground bulk sample to be taken at the project.
The bulk sample is expected to be collected at a depth of 230 metres, with the sample to come from the Champagne and Denis zones, which are part of the main orebodies at the project. The effort is expected to take approximately 15 months of mine preparation and development before the mineralized material can be accessed for sampling and sent to a third party for processing.
The program overall is intended to validate the geological understanding of the orezone and validate the parameters of the resource estimate, while at the same time confirming mining concepts for the deposit to de-risk the Perron project as a whole.
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The bulk sample permit application follows Amex earlier this month releasing a revised preliminary economic study, which calls for Perron to be developed in stages, beginning with a phase 1 operation that would see contract mining occuring at a rate of 1,000 tonnes per day for 4 years, before transitioning to a 2,000 tpd owner-operated mine that operates for a 13 year period.
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That revised plan calls for an estimated $68.6 million in pre-production gold sales credits from mineralized material removed in the two year construction period before mining officially commences.
Work under the sampling program is expected to begin in the first quarter of 2026.
Amex Exploration last traded at $2.51 on the TSX Venture.
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