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Amex Exploration Inc
High-Grade Gold Discoveries in Quebec’s Abitibi Greenstone Belt
Amex Exploration Inc. (TSXV:AMX,FRA:MX0,OTCQX:AMXEF) is a junior resource company focused on building ounce and making high-grade gold discoveries at its 100%-owned Perron Gold property located in Canada’s premier mining jurisdictions such as Quebec and Ontario. The Perron property is located in the heart of Canada’s gold production in Quebec’s Abitibi Greenstone Belt. In addition to Perron, Amex’s portfolio includes three other properties focused on gold and base metals in the Abitibi region.
As the second-largest gold producer in Canada, Quebec consistently ranks as one of the most attractive mining jurisdictions in the world due in large part to its mining-friendly policies, ease in obtaining permits, high-quality infrastructure and extensive mineral wealth. The excellent mining infrastructure in Quebec and the Abitibi region where Amex operates helps to keep drilling costs low. The province is home to the country’s largest gold mine, the Canadian Malartic, which is one of more than 100 mines forged within the Abitibi. The belt is recognized as one of the world’s largest and most productive mineral repositories, having produced more than 180 million ounces of gold.
At Perron, Amex Exploration discovered three high-grade gold zones in 2019, now known as the Eastern Gold zone, the Gratien Gold zone, and the Grey Cat zone. The discoveries in these zones were significant in grade, with the Eastern gold zone giving up notable assays of 56.75 g/t gold over 8.5 meters, 29.44 g/t gold over 8.50 meters, 269.33 g/t gold over 1.35 meters and 393 g/t gold over 1.7 meters. These three active exploration zones remain open at depth and along strike allowing for plenty of exploration upside and opportunities to build ounces in known gold zones.
Amex Exploration is in the middle of a fully-funded 100,000-meter drill program with approximately 40,000 meters of drilling completed in 2019 and another 60,000 meters planned for 2020. While the main focus will be on defining and expanding the three main zones of known mineralization, 20,000 meters of planned drilling will be aimed at numerous regional targets that share similar geological features to the known gold zones. The current exploration program aims to provide the basis for a maiden NI 43-101 resource estimate on the project. Amex’s end goal for Perron is to build up ounces quickly in order to become a potential acquisition target.
At the helm of Amex Exploration is a team of proven mine finders and capital market professionals. Executive Chairman of the Board Dr. Jacques Trottier has more than 30 years of experience in mining exploration including time as CEO of Sulliden Exploration where he grew the Shahuindo mines in Peru into a 3 million ounce gold asset. Sulliden merged with Rio Alto, transforming Rio Alto into a mid-tier producer which later merged with Tahoe Resources. President and CEO Victor Cantore has more than 20 years of advisory and leadership experience as an investment advisor with management roles at both public and private companies. During his career, Cantore has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. Victor was instrumental in securing recent financings that enable Amex recent drilling success. Vice President Exploration Kelly Malcolm is a professional geologist with extensive precious metals exploration experience. He was recently involved in the discovery and delineation of Detour Gold’s high-grade 58N gold deposit.
Amex Exploration Company Highlights
- Large 100-percent-owned land position in mining-friendly Quebec.
- More than 15 kilometers of prospective faults in an underexplored section of the Abitibi greenstone belt.
- Regional geology and drilling suggest there is an opportunity to host multiple deposits of various types, including orogenic gold and gold-rich polymetallic VMS systems on the property.
- Current exploration program aims to provide a basis for maiden NI 43-101 resource estimate.
- An experienced management team of proven mine finders.
- Tight capital structure that is well-capitalized; Eric Sprott is the largest strategic shareholder with 12 percent of shares; management holds a combined 13 percent of shares.
- One of the top-performing TSX stocks of 2019.
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