Amex Exploration (TSXV: AMX) has reported the best drill intercepts to date from its copper-rich volcanogenic massive sulphide (VMS) QF Zone, highlighting the continued exploration upside of the company’s flagship Perron project in Quebec’s Abitibi region.
Perron is located about 110 km north of Rouyn-Noranda, which is about 600 km northwest of Montreal.
The Montreal-based explorer said Wednesday that hole PEX-22-118 had intersected 1.7% copper-equivalent, comprising 0.92% copper, 1.6% zinc, 0.08 grams gold per tonne and 12.26 grams silver per tonne over 14.8 metres of core length, from 480 metres depth. The hole also returned a higher-grade interval of 3.58% copper-equivalent, entailing 3.1% copper, 0.32% zinc, 0.19 grams gold per tonne and 28.8 grams silver per tonne over 3.6 metres.
Amex said hole PEX-22-107W1 intersected 0.58% copper equivalent comprising 0.29% copper, 0.57% zinc, 0.03 grams gold per tonne and 5.32 grams silver per tonne over 5.5 metres, from 625 metres depth.
The results are the latest batch from the ongoing multi-year 300,000-metre drilling campaign designed to expand the known mineralization of the polymetallic VMS target, located some 200 metres from Perron’s previously defined gold-hosting High Grade Zone (HGZ).
Amex currently has one rig dedicated to the QF Zone to support a 5,000-metre program following the zone’s discovery in the second half of 2021. Discovery hole PEX-21-076 returned 2.4% copper, 0.72% zinc, 0.27 grams gold per tonne, and 22.15 grams silver per tonne over 7.8 metres from 663.1 metres depth.
Canaccord Genuity Capital Markets noted the latest results entailed the longest high-grade intersection released from the VMS target to date, which analyst Michael Fairbairn believes supports a material expansion of known mineralization at the zone.
The nearby Normetal mine, a polymetallic copper-gold-silver-zinc deposit that was in production for about 50 years, producing about 10.1 million tonnes grading 2.24% copper, 5.41% zinc, 0.53 grams gold per tonne and 44.45 grams silver per tonne, helped to establish and support the town of Normetal.