Mining’s old guard needs strong medicine
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.
Amex Exploration has released the results of 15 drill holes completed on the Grey Cat and Gratien zones at its 45-sq.-km Perron gold property in Quebec’s Abitibi region. These results expand the near-surface strike length of Grey Cat and further define the multiple stacked lenses which make up the Gratien system.
Drill highlights include:
“Roughly one year following the discovery of the Eastern gold zone, we have transformed this property from one very high grade gold target to three separate gold zones spread over 3.2 km,” Victor Cantore, the company’s president and CEO said in a release. “Based on our exploration to date, we believe each of these zones has the potential to be robust gold deposits as they are open to depth and along strike.”
At Grey Cat, the near-surface strike length of the mineralization has now been expanded to 160 metres; this zone has been traced down to 435 vertical metres and remains open. The Gratien system has been traced over 1 km of strike and tested down to a depth of 200 metres. The individual lenses within the system extend for up to 400 metres of strike.
To date, Amex has traced gold mineralization over a 3.2-km long section of a structural trend at Perron. The property features 15 km of structural targets in two faults with additional prospects within the contained Beaupre block. A 60,000 metre, fully-funded drill program is underway at Perron.
Additional assays are pending for the Eastern gold zone.
(This article first appeared in the Canadian Mining Journal)
