ABOUT PERRON PROPERTY
The Perron gold property is located in the western part of the Normetal property, 8 kilometers to the NW of the village of Normetal, and approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec.
The property consists of 116 adjacent claims covering a total area of 4517.88 hectares and is 100%-owned by Amex Exploration. The property is located in the Archean Greenstone Belt of the Lac Supérieur structural province. The area is crossed by the regional NW-SE trending Normetal fault. This fault delineates a major structural corridor associated to massive sulphide deposits such as the nearby now closed polymetallic (Cu-Zn-Au-Ag) Normetal mine and the Zn Normetmar deposit and a few gold-bearing vein showings.
From 1994 to 1996, the Perron property was explored for base metals by Falconbridge. From 1996 to 2000, RessourcesMinières Coleraine explored the property for gold by drilling nearly 18,000 meters which resulted in the discovery of gold mineralization on Perron in 3 principal parallel Zones ranging from 300 meters to more than 1 kilometer in strike length. These Zones are located near the contact between rhyolite units to the North and altered andesite units to the South.
Zone 3 Work Program and NI 43-101 Resource Estimate
In March 2008, a six hole drill program totaling 1,638 meters was performed on Zone 3 to follow-up at depth historical gold intersections such as 12.2 g/t Au over 4.0 meters, 8.8 g/t Au over 2.2 meters and 8.9 g/t Au over 1.7 meters, with sometimes high grade intersects such as 78.1 g/t Au over 1.7 meters. The 2008 drill campaign resulted in important intersections such as 14.8 g/t over 4.1 meters, 5.6 g/t over 3.0 meters, as well as 2.5 g/t over 13.6 meters.
Following these results, a preliminary resource estimate on Zone 3 was performed by an independent QP (qualified person as per NI 43-101 regulation) to evaluate the economic potential of this Zone. A total of 1.2 million tonnes with a grade of 1.86 g/t Au for a total of 69,907 ounces of gold in the inferred mineral resources category was estimated by Jacques Marchand, P. Eng. in May 2009 (see Report NI 43-101 on “Resources Estimates from NI 43-101 Technical Report Project Perron”, May 10th, 2009).
The resource is calculated over a strike length of 1,070 meters and over a depth interval extending from 40 meters to 200 meters with an average thickness of 4.5 meters.
Zone 1 Discovery of Perron gold rich VMS mineralization
In March 2013, Amex made a significant discovery of a high grade gold-rich polymetallic intercept from 402.0 to 417.2 m of 3.84 g/t Au + 23 g/t Ag + 1.4% Zn + 0.10% Cu over 15.2 meters (Including 19.07 g/t Au + 102 g/t Ag + 5.0% Zn + 0.38% Cu + 0.13% Pb over 2.0 meters (from 410.5 to 412.5 m) in hole PE-2013-03.
Since 2013 ~$2.25M has been spent on the property in two main targets: the Perron Zone 1 discovery and the Normetal Horizon.
- 2700 m (5 hole) drill program from 350 to 800 (2014)
- 5 000 m (13 hole) in 3 zones (2015)
- Highlight airborne geophysical anomalies located in the Normetal Mine Horizon returned discovery of a new polymetallic mineralization:
- Hole 163-15-015:
- 2.23% Cu, 0.11% Zn, 8.3 g/t Ag, and 0.20 g/t Au over 1.0 meter
- Hole 163-15-023:
- 0.17% Cu, 1.62% Zn, 6.28 g/t Ag and 0.22 g/t Au over 2.1 meters
- Hole 163-15-015:
- 4,700 meter (9 holes) with combined down hole pulseEM geophysical surveys on two defined target areas (2016)
- Best results: two drill holes (163-16-024 and 033) up to 11.45 g/t Au over 0.5 meters and a broader zone grading 2.76 g/t over 2.8 meters in hole 033
In the Normetal Mine Horizon, 3 holes encountered intense stratabound hydrothermal alteration zones that enhance the potential of finding volcanogenic massive sulphite deposits in the nearby area.
JUNE 28, 2017: AMEX RECOVERS PERRON GOLD PROPERTY
On June 28, 2017 Amex recovered the Perron gold property and now controls 100% of the property. Amex is currently review the extensive database provided by Agnico Eagle Mines Limited, on all the work completed to date, totalling $2.5 M.
This review will also take into account work done previously by Amex Exploration, that has invested more than $5M in exploration on the Perron property.
Amex has completed a 3D model, from which it has derived 14 drill targets for a 4,360 meter drill program which is expected to launch following receipt of drill permits. This program will primarily be focussing on the original Amex discovery hole PE-13-03 which returned an intercept of 41.4 meters at 2.19 g/t Au, including of 19.1 g/t Au over 2 meters.