Amex Drills 110.05 g/t Au over 2.15 m in Continuation of Bulk Sample Grade Control Program
Amex De-Risks High-Grade Champagne Zone as Phase 1 Feasibility Nears Completion
The most recent news (Feb 26, 2026) reports high-grade drilling results from a "grade control" program at the Champagne Zone of the Perron Gold Project. Key intercepts include 110.05 g/t Au over 2.15 m (including 233.96 g/t Au over 1.00 m). This follows a Feb 18 release of 76.51 g/t Au over 6.40 m. The program is specifically designed to tighten drill spacing from 12-20m down to 5-10m to reconcile the block model and de-risk the upcoming bulk sample. Management confirmed that the Phase 1 Feasibility Study (FS) remains on track for completion by the end of Q1 2026.
The impact is Routine - Positive. While the grades are exceptionally high, they are "routine" in the context of Amex’s historical results and the specific purpose of this program. - Validation, Not Discovery: These holes are being drilled into known Measured & Indicated (M&I) resource blocks to prepare for mining. They confirm the "robustness and continuity" of the high-grade core but do not necessarily add new ounces to the global resource. - De-risking for Bulk Sample: The primary value here is the reduction of geological risk. By confirming the grade at 5m spacing, the company reduces the chance of a "negative reconciliation" (where actual mined grade is lower than the model) during the bulk sample phase. - Feasibility Momentum: The news reinforces that the company is meeting its technical milestones for the Phase 1 FS, which is the more significant catalyst for a re-rating.
Amex Exploration is focused on the Perron Gold Project in the Abitibi Greenstone Belt, Quebec. The project is characterized by exceptionally high-grade narrow-vein mineralization (Champagne Zone) and bulk-tonnage potential (Denise Zone). - Flagship: Perron Project (Quebec). - Resource: 1.615 Moz M&I at 6.14 g/t Au; 0.698 Moz Inferred at 4.31 g/t Au. - Strategy: A two-phase development. Phase 1 involves toll-milling high-grade ore at nearby facilities to generate cash flow for Phase 2 (on-site mill construction).