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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Drilling at Amex Exploration’s Perron property in Quebec returned near-surface gold intercepts from the Gratien and Grey Cat zones in the western section of the 45-sq.-km project.
Grey Cat intercepts include 39 metres of 1.22 g/t gold at a depth of 80 metres as well as 10.3 metres of 4.54 g/t gold at a depth of 70 metres. The drilling, which was completed on a 25-metre spacing, suggests that the mineralization is contained within a single lens.
At the Gratien zone, drilling targeted the Gratien Main and Lower Gratien areas and intersected 9.2 metres of 1.18 g/t gold at approximately 80 metres depth
At the Gratien zone, drilling targeted the Gratien Main and Lower Gratien areas and intersected 9.2 metres of 1.18 g/t gold at approximately 80 metres depth and 3.3 metres of 1.66 g/t gold from a depth of 15 metres.
“These results indicate the continual expansion of the Grey Cat and Gratien (zones),” Jacques Trottier, the company’s executive chairman, said in a release.
“Going forward, we plan to continue to define a near-surface deposit at Gratien to approximately 250 metres vertical depth and will begin to test the Grey Cat to a depth of approximately 500 metres vertically. The Grey Cat appears to have a high-grade core that dips approximately 60 degrees to the east, similar to the Eastern Gold zone, which, in our experience, bodes very well for the depth potential of this target.”
To date, Amex has traced mineralization along a 3.2-km structural trend at Perron, within the Gratien, Grey Cat, Central Polymetallic and Eastern zones.
The project features a total of 15 km of structural targets over the Perron and Normetal faults with additional targets within the Beaupre block.
Amex previously announced that it was planning on completing a 60,000-metre drill campaign at Perron this year.
(This article first appeared in the Canadian Mining Journal)
