Amex Drills 110.05 g/t Au over 2.15 m in Continuation of Bulk Sample Grade Control Program
Amex Exploration Inc. (TSXV: AMX, OTCQX: AMXEF) has reported significant assay results from its ongoing bulk sample grade control program at the Champagne Zone, with a notable intersection of 110.05 g/t Au over 2.15 metres, including a high-grade section of 233.96 g/t Au over 1.00 metre at a vertical depth of approximately 145 metres. This announcement follows a series of positive updates regarding the Champagne Zone, which has been highlighted as a key focus area for the company, particularly in light of its recently completed Preliminary Economic Assessment (PEA) that underscored the economic viability of the project at various gold price scenarios.
The Champagne Zone has been a focal point for Amex, as indicated in previous press releases, including the PEA released on September 4, 2025, which outlined the potential for robust returns from this high-grade mineralization. The ongoing grade control program is designed to enhance the accuracy of the existing block model and to ensure that the selected stopes for the bulk sample are optimally positioned. The drilling program, which aims to reduce geological risk by tightening drill spacing from 12-20 metres to approximately 5-10 metres, is expected to further de-risk the project as it progresses towards production.
From a financial perspective, Amex's balance sheet appears to be well-positioned to support its ongoing exploration and development activities. The company has previously raised capital to fund its exploration initiatives, and with the completion of the PEA, it is likely to attract further investment interest. The results from the grade control program will be critical in guiding the next steps in the development of the Perron project, particularly as the feasibility study for Phase 1 is expected to be completed by the end of the first quarter of 2026. This study will provide a clearer picture of the project's economics, particularly in relation to the toll milling phase of operations.
In terms of peer comparison, Amex operates within a competitive landscape of junior gold exploration and development companies. Direct peers include companies such as Bonterra Resources Inc. (TSXV: BTR), which is also focused on high-grade gold projects in Quebec, and Osisko Mining Inc. (TSX: OSK), which has a more advanced development stage but operates in a similar jurisdiction. Another comparable entity is Wallbridge Mining Company Ltd. (TSX: WM), which is engaged in gold exploration in the same region and has also reported high-grade intersections. These companies are similarly positioned in terms of market capitalisation and development stage, making them relevant benchmarks for assessing Amex's performance and potential.
The significance of Amex's latest drilling results cannot be overstated, as they not only affirm the continuity and robustness of the high-grade mineralization within the Champagne Zone but also enhance the company's credibility as it moves closer to production. The successful execution of the grade control program and the anticipated positive outcomes from the feasibility study will be pivotal in establishing Amex's value creation pathway. As the company continues to delineate its resources and refine its operational strategy, it is well-placed to capitalize on the growing interest in high-grade gold projects, particularly in the context of rising gold prices and increased demand for precious metals.
In conclusion, Amex Exploration's recent assay results from the Champagne Zone bolster its position as a promising player in the gold exploration sector. With a clear focus on de-risking its assets and advancing towards production, the company is poised to enhance shareholder value in a competitive market. The ongoing developments at Perron, coupled with the positive results from the grade control program, suggest a strong trajectory for Amex as it seeks to establish itself as a significant contributor to the gold mining landscape in Quebec.