Amex Gold Mining Completes Portal Blasting at Perron Site
Amex completes portal blasting at Perron and prepares for bulk sample ramp development, maintaining its project schedule without unexpected delays.
Amex Exploration Inc. (AMX) has completed all drill-and-blast activities for the underground portal at its 100%-owned Perron Gold Project in Québec. The portal serves as the access point for a 40,000-tonne bulk sample program intended to generate geological, geotechnical, metallurgical, and operational data. Excavation of blasted material has begun, and the underground mining contractor, CMAC-Thyssen, which was appointed in July, will mobilize shortly to install ground support and start ramp development. The portal will eventually be integrated into a future commercial mine, subject to permits.
Amex Exploration Inc. (AMX) announced that portal blasting, previously scheduled to begin in mid-July 2026, is proceeding as planned, with contractor mobilization targeted for late July. The company noted that completing this blasting is a necessary step for the project but stated that the development does not alter the project’s risk profile, timeline, or economics.
No new financial, technical, or permitting information was disclosed in the release. The market was already aware that the bulk sample program was advancing on schedule. The announcement confirms that operations are proceeding as planned, with no first-time strategic investment, takeover, or other game-changing events present.
Amex Exploration Inc. (TSXV: AMX) is an advanced-stage gold exploration and development company. Its flagship asset is the 100%-owned Perron Gold Project in the Abitibi region of Québec, approximately 110 km north of Rouyn-Noranda. The project comprises 183 contiguous claims covering 65.72 km². The company also controls a consolidated land package of 570.94 km², including the Perron West, Abbotsford, and Hepburn properties in Ontario, all located within the prolific Abitibi greenstone belt.
Perron hosts high-grade gold mineralization in multiple zones, including Champagne and Denise. A Phase 1 Feasibility Study filed in May 2026 outlined the following metrics:
- Proven & Probable reserves: 1.989 Mt at 12.1 g/t Au for approximately 774.5 koz.
- Average annual production: approximately 147 koz over a 5-year mine life.
- Post-tax NPV₅: C$1.13 billion (base case US$3,500/oz gold).
- Post-tax IRR: 114.6%.
- Initial CAPEX: C$193.9 million (gross), with a payback of approximately 0.5 years.
- AISC: US$910/oz.
The development strategy utilizes contract underground mining at 1,100 tpd and toll milling, with a 40,000-tonne bulk sample designed to validate the mining approach.