Drill Results
Amex Drills 22.27 g/t Au over 6.40 m and Finalizes Bulk Sample Grade Control Program
Perron Gold Project advances with bulk-sample progress and Ontario land expansion, underpinning district-scale growth
Executive Summary
- The most recent release (2026-03-31) reports the Champagne Zone bulk-sample grade-control program delivering high-grade gold intercepts, including 22.27 g/t Au over 6.40 m and a standout 200.80 g/t Au over 0.65 m at depth, reinforcing the integrity of the existing resource model and supporting improved stope designs for the upcoming bulk mining operation. The update also notes the drill spacing tightening to ~5–10 m and expectations for updated geological wireframes and block models.
- The March 30, 2026 update confirms major permitting is complete for Perron’s 40,000-tonne underground bulk-sampling program, with full financial guarantee posted, portal construction slated for early summer 2026, and a Phase 1 Feasibility Study anticipated in the coming weeks. It also highlights additional high-grade grade-control drilling results that bolster resource confidence for the bulk sample.
- March 25, 2026 news states Ontario drill permit granted for Perron West and outlines a 15,000 m inaugural drill program with potential to grow, along with exploration on Perron West’s newly acquired ground.
- The March 12, 2026 item details two mandates: (i) award of a water-treatment plant for Perron bulk-sample/Phase 1 operations and (ii) Norda Stelo engagement for an Environmental Impact Assessment (EIA) targeting 2028 for custom milling, signaling disciplined regulatory risk management and infrastructure planning.
- In early March 2026, Amex announced an Ontario Exploration Agreement with the Apitipi Anicinapek Nation (AAN) to govern Perron West and Abbotsford/Hepburn projects, emphasizing community engagement and shared benefits.
- Earlier in March 2026, Amex disclosed the Ontario-based Perron West option agreement (Newman, Noseworthy, Hepburn properties in Ontario) with upfront cash, equity, and NSR terms, laying groundwork for a broader Ontario footprint adjacent to Perron’s Quebec hub.
- The December 2025 to March 2026 period shows a sequence of major strategic moves: acquisition of Abbotsford and Hepburn (in Ontario) expanding Amex’s land package to district scale; Sprott insiders reducing stake in December 2025; equity incentive grants in late 2025; and a strong push on permitting, community engagement, and feasibility work.
Material Impact
- Materiality level: Routine - Positive.
- Why: The March 31 drill results provide further confirmation of high-grade mineralization within the Champagne Zone and demonstrate execution progress on the bulk-sampling program, which is a key step toward a potential production decision. While the results include spectacular sub-intervals (e.g., 200.80 g/t Au over 0.65 m), they are part of an ongoing grade-control program that was already anticipated to inform stope design and resource block updates. The concurrent permits, power connection planning, and the Ontario West drill program and acquisitions collectively move Perron toward a more fully defined, district-scale exploration-to-production pathway, which is positive but largely builds on existing guidance rather than delivering a transformative, surprise catalyst.
- Alignment with expectations: The news aligns with prior updates around grade-control drilling, feasibility study progression, and infrastructure/permitting milestones. It reinforces the company’s strategy rather than signaling an unexpected breakthrough.
- Key risks reflected: The results depend on successful ongoing permitting, water management, power connection, and regulatory approvals for bulk sampling and eventual mining. The high-grade intercepts are encouraging but need to be incorporated into a robust economic model via the Phase 1 Feasibility Study.
AMX · Price
Company Overview
- Amex Exploration Inc. is advancing the Perron Gold Project in Quebec, with a flagship high-grade gold discovery that has delivered notable drill results in Champagne Zone and other Perron zones. The company has pursued a multi-faceted development strategy, including:
- Bulk sampling and toll-milling feasibility (Phase 1) to derisk mining economics.
- Comprehensive permitting and infrastructure planning (water treatment, power connection, EIA, and mine support facilities).
- Geographic expansion into Ontario (Perron West) and acquisitions to build a district-scale land package that complements Perron in Quebec.
- Flagship metrics cited include a high-grade resource and robust PEA economics (pre-tax IRR and NPV figures reported in earlier news), with ongoing updates to resource models and mine design.
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Jul 13, 2026 · 07:01