Northwire Canada EditionFriday, July 17, 2026
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Production / Operations Routine +

Amex Commences 15,000 m Drill Program at Perron West in Ontario and Hires IR Firm

Perron Feasibility Study Confirms High-Grade Economics; Ontario Drilling Execution Validates District Strategy

By The Northwire Desk — AI Analysis Apr 16, 2026 · 07:01 AMX · 5.01 Amex Exploration Inc.
Executive Summary
  • Drilling Commencement: Amex Exploration has officially commenced a 15,000-meter drill program at the Perron West Project in Ontario following the arrival of the first of two planned drill rigs. Pad construction is progressing well.
  • Land Package Expansion: The company's consolidated land package in the Abitibi Greenstone Belt now covers 570.94 km², following recent property inclusions and option agreements.
  • Investor Relations Agreement: Amex has entered into a new investor relations agreement with SRC Swiss Resource Capital AG effective April 15, 2026. The term is an initial twelve months with automatic quarterly renewals at a cost of 6,000 CHF cash fee per month to increase exposure within the German-speaking European financial community.
  • Project Focus: Initial drilling will focus on Target Area A at Perron West to test for a potential repetition of a rhyolitic block west of the Patten Pluton. Drilling remains ongoing at the original Perron Project in Quebec.
Material Impact
  • Execution vs. Expectation: The commencement of the 15,000-meter drill program was previously outlined in the March 25, 2026 news release ("Outlines 15,000 m Inaugural Perron West Drill Program"). Therefore, this announcement represents the execution of a known plan rather than new information.
  • Context of Feasibility Study: This operational update follows immediately after the April 13, 2026 release of a Phase 1 Feasibility Study for the Perron Gold Mine (Quebec). The FS revealed exceptional economics (IRR 114.6%, NPV C$1.13B), which was the primary market-moving catalyst.
  • Strategic Alignment: The Ontario drilling program complements the Quebec feasibility study by expanding the district-scale land package to over 570 km², adding optionality for future resource growth. However, Perron West is currently in exploration/drilling phase compared to the advanced development status of Perron Quebec.
  • Investor Relations: The hiring of SRC Swiss Resource Capital AG signals a push for visibility in European markets but incurs a recurring cash cost (6,000 CHF/month), which is minor relative to the company's capital needs but adds to operating expenses.
  • Conclusion on Materiality: While positive and confirming management execution, this news does not alter the fundamental valuation established by the Feasibility Study released three days prior. It is a routine milestone in the project development timeline.
AMX · Price
Company Overview
  • Company Name: Amex Exploration Inc. (TSXV: AMX).
  • Flagship Project: Perron Gold Mine (Quebec) with adjacent Perron West (Ontario).
  • Project Status: Development (Phase 1 Feasibility Study completed April 2026; Bulk Sampling authorized March 2026).
  • Mine Type: Underground mining with an initial toll-milling phase followed by owner-operated processing.
  • Production Strategy: Two-phase approach to reduce risk and capital requirements. Phase 1 targets ~102,000 oz Au/year via contract mining/toll-milling (4 years). Phase 2 targets ~93,000 oz Au/year via on-site processing (13 years).
  • Infrastructure: Located 6.5 km from Normétal, QC; access via forestry road; dedicated Hydro-Québec power line planned for Q3 2026 commissioning.
Read the original news release →

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