Upsizes Drill Programme To 300,000m
Amex Exploration Inc. (TSXV:AMX) is planning to add four more diamond drill rigs to the Perron property in Canada, bringing the total drills on site to 10 rigs.
Following a successful C$11.7 million financing which closed on September 10, Amex said it is increasing its fully-funded and planned drill programme from 200,000m to 300,000m. The additional four drills will be delivered to site by the end of 2020, with 2 expected to arrive by mid-October.
Of the 10 drills, the company intends to assign six drill rigs to the Eastern Gold Zone (EGZ), of which four drill rigs will continue to define the depth extension of the High Grade Zone (HGZ), targeting mineralisation down to depths of 1.5 km vertically, while two drill rigs are allocated to the Denise Zone, which is a wide shear-zone hosted system located approximately 50m to 100m south of the HGZ.
Kelly Malcolm, VP Exploration at Amex, said the Denise drilling will be targeting mineralisation near surface with a goal of defining a bulk tonnage gold deposit. These drill rigs will also test the Denise Zone at depth to define the extent of the gold-bearing mineralized envelope as well as continuing to identify high-grade lenses within the overall Denise system.
In addition, two drill rigs will be dedicated to the Grey Cat and Gratien Gold Zones to continue to define near-surface mineralization identified to date.
Finally, two drill rigs will be dedicated to exploration, of which 1 will be conducting regional wildcat drilling, while the other will test areas within the Perron Gold Corridor to identify additional lenses within the 3+ km system already identified.
Mr Malcolm said rrilling will take place year-round with small breaks in the spring and fall seasons for the winter break-up and Quebec hunting season.
“The company is very well capitalized and staffed to expand and manage one of the largest drill programs currently running in Canada by a junior exploration company,” Mr Malcolm said.
“Our core logging and processing facilities are very large and can easily accommodate a drill program of this size. Our goal is to define the known gold zones at Perron (Eastern Gold Zone, Grey Cat and Gratien Gold Zone) while at the same time drill in between these zones along strike in the 3+ kilometre Perron gold corridor.
“Every hole that we have drilled into the Perron gold corridor has reported gold mineralisation from anomalous (>0.1 g/t Au) to multiple ounces per tonne gold over variable widths. Drilling on this corridor will aim to connect the known gold zones as well as continue to expand it along strike.
“Finally, our regional exploration programme has intersected some notable results and structures and we will be following up on that as well as testing newly generated targets which have yet to see a drill bit along the +15 km of combined Normetal and Perron faults on the property.”