Junior gold investors perked up Wednesday, with the news that Montreal-based Amex Exploration Inc. (TSX-Venture:AMX) unveiled the results of three drill holes from a new discovery known as the Grey Cat Zone (GCZ) on its Perron property in northwestern Quebec.
The GCZ is about 650 metres from the Gratien Gold Zone and lies in between the Eastern Gold Zone and the Gratien, slightly to the north of the regional Perron Fault.
The new GCZ is a near-surface zone that contains high grade gold mineralization within a broad panel of disseminated gold mineralization with intercepts of up to 26.90 meters grading 3.42 grams per ton (g/t) Au including 134.16 g/t Au over 0.50 metres in hole PEG-19-80.
Wednesday morning’s news release said the GCZ was discovered this summer during Amex’s regional exploration program as Wildcat exploration targets to the northeast of the Gratien Gold Zone, in areas of historic drilling that exhibited anomalous gold mineralization. All three drill holes intersected visible gold mineralization.
Shares in AMX galloped six cents, or 5.7%, to $1.11, on 113,000 shares.