Amex Drills 76.51 g/t Au over 6.40 m in First Hole of Bulk Sample Grade Control Program
Amex confirms high-grade continuity at Perron as project derisking accelerates ahead of 2026 bulk sample.
The most recent news release (February 18, 2026) reports high-grade gold intercepts from the first hole of a grade control drilling program at the Perron Project’s Champagne Zone. Hole PE-19-47W1 returned 76.51 g/t Au over 6.40 m at a vertical depth of ~200 m. This program uses tight 5-10 metre spacing to validate the resource block model specifically for a planned bulk sample. Visible gold was also noted in two subsequent holes (assays pending). Management indicates that these results suggest the existing block model may actually underrepresent grades in certain areas.
The news is Material - Positive. While the drilling is "production-driven" rather than "exploration-driven," it serves a critical derisking function. - Resource Validation: The intercept of 76.51 g/t Au over 6.4 m significantly exceeds the average grade of the Champagne Zone (previously cited at 16.20 g/t Au in the MRE). This provides confidence that the bulk sample will meet or exceed tonnage and grade expectations. - Operational Transition: The focus on "condemnation holes" for infrastructure and "grade control" for stopes signals that Amex has successfully transitioned from a pure exploration play to a development-ready company. - Permitting Progress: This work aligns with the January 2025 update regarding the bulk sample permit application, suggesting the company is on schedule for a first-half 2026 start for the bulk sample.
Amex Exploration owns 100% of the Perron Gold Project in the Abitibi Greenstone Belt, Quebec. The project is characterized by exceptionally high-grade narrow veins (Champagne Zone) and bulk-tonnage potential (Denise Zone). - Flagship Project: Perron Gold Project. - Location: 110 km north of Rouyn-Noranda, Quebec. - Current Resource (May 2025): 1.615 Moz M&I at 6.14 g/t Au; 0.698 Moz Inferred at 4.31 g/t Au. - Development Strategy: Two-phase approach. Phase 1 focuses on toll-milling high-grade ore (~102k oz/year) to generate cash flow for Phase 2, which involves building an on-site mill.