In the aggressive, competitive gold mining industry, Montreal-based Amex Exploration Inc. (TSX-Venture:AMX) came out with thrilling news about one of its key mines in Quebec.
The company noted the results of several drill holes on the Gratien Gold Zone on its Perron property in northwestern Quebec. What’s more, Amex has completed approximately 27,000 metres during of its previously-announced 25,000-metre 2019 drilling campaign.
Amex plans to drill an additional 15,000 metres during 2019 for a planned total of 40,000 metres, using two drill rigs. This continued drilling will focus on expanding the Eastern Gold Zone, the Gratien Gold Zone and the Grey Cat Zone, as well step-out exploration drilling along strike from the known mineralized showings. This additional drilling is fully funded from existing capital.
Said CEO Victor Cantore, “We look forward to continuing to define the potential of the known gold zones on the project, as well as regional exploration of undrilled structures to the east, west, and north of the known 2.4 km highly mineralized corridor. The Perron property hosts two faults each measuring seven kilometres which are dramatically underexplored. The exploration upside potential here is incredible.”
So, too, was the leap in the stock price as Thursday morning became afternoon, 12 cents, or 11.7%, to $1.15, on volume of nearly 125,000 shares.
