With all the uncertainty clouding the market, the extent of the coronavirus outbreak the main culprit these days, the advance of investors toward the sunny shores of gold is all the more noticeable. On the TSX, the gold sector led all comers by jumping 1.2% by late Thursday afternoon.
Amex Exploration Inc. (TSX-Venture:AMX) was one of all-stars Thursday, on news the Montreal-based junior miner had unearthed multiple high-grade drill results from the Eastern Gold Zone on its 100% owned Perron property in northwestern Quebec. The drill results include intersections from the High Grade Zone of the Eastern Gold Zone.
Hole PE-20-137 significantly extends the gold mineralization at depth by 150 metres as well as along strike by 75 metres and is to the east of a late stage diabase dike. Importantly, Hole PE-20-137 shows exceptional grade continuity over the composite interval of 29.44 g/t Au over 8.50 metres at a vertical depth of 570 metres including 60.47 g/t Au over 0.70 metres, 11.68 g/t Au over 1.00 metres.
AMX gained 17 cents, or 11%, within an hour of Thursday’s close, to $1.72, on 465,000 shares.
Americas Gold and Silver Corporation (NYSEAmerican:USAS), an outfit with holdings in Nevada, but headquartered in Toronto, reported to investors this month news of an illegal blockade to access to the company’s facilities at the Cosalá Operations in Mexico.
The release, out February 3, pointed to a faction including a small minority of the Company's unionized workers. USAS has already filed the legal motions with the Government of Mexico at the state and federal levels but remains receptive to having good-faith discussions with the proper representatives of the certified union.
Despite, or perhaps, because of the tension, the stock rose 11 cents during Thursday afternoon, or 3.9%, to $2.97, on 409,000 shares.