EXPLORATION & DEVELOPMENT

Amex firms up Perron's copper-zinc potential

Amex Exploration is continuing to firm up the copper-zinc potential at its Perron gold property in the Abitibi region of Quebec, Canada, having incepted the largest interval of volcanogenic massive sulphide on the QF Zone to date.

Amex's Perron

Amex's Perron

"We are seeing classic VMS textures and zonation of metals, resulting in a significant transition from copper-rich to zinc-rich throughout the reported interval," Amex's executive chairman Jacques Trottier said.

"In addition to the base metal results announced today, Amex is also waiting on numerous assays from its drilling programme focused on gold mineralisation," he said.

The results included:

  • 1.70% CuEq comprising 0.92% Cu. 1.60% Zn, 0.08g/t Au and 12.26g/t Ag over 14.80 metres including 3.58% CuEq comprising 3.10% Cu. 0.32% Zn, 0.19g/t Au and 28.80g/t Ag over 3.60 metres at a vertical depth of approximately 480 metres; and
  • 0.58% CuEq comprising 0.29% Cu, 0.57% Zn, 0.03g/t Au and 5.32g/t Ag over 5.50 metres

Canaccord Genuity Capital Markets Michael Fairbairn said that while it remains "early days", the results show the possible indication of a "high-grade" core of mineralisation forming within QF, which has the potential to support a future resource for the zone.

"The QF zone presents intriguing optionality to base metals for Amex, particularly in light of the zone's ~200 metres proximity to [Perron's gold-hosting High Grade Zone] which may present opportunities for improved economics from sharing of underground infrastructure.

"Noteworthy is Glencore's Home smelter located nearby in Rouyn-Noranda, offering a hypothetical toll-mill processing option for copper-rich VMS ore from Perron in the future," he said.

Amex's share price was C$1.66 (US$1.66) on 7 September, giving the company a market capitalisation of C$171.38 million.

CG has a target price for Amex of C$3.75.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.