Amex Exploration in Canada
Leading the pack is Amex Exploration (TSXV: AMX), which on Nov. 14 reported that hole PE-23-710 at the Perron project in western Quebec, cut 47.7 metres grading 16.97 grams gold per tonne from 160.3 metres depth for a width x grade value of 809.
The intercept comes from resource-focused drilling of the High Grade zone, part of the Eastern Gold zone at Perron. The drilling direction was from west to east to outline the edges of an ancient Diabase Dike from the Proterozoic era. Amex aims to determine its form and size for a resource calculation. During this process, the company discovered considerable visible gold along the High Grade zone, disproving previous assumptions that the area had low mineral content. This discovery confirms the zone’s continuity and uniformly high-quality gold.
Amex is now drilling five more holes to map the dike from the surface to depth.
Nevada King Gold in Nevada
Nevada King Gold (TSXV: NKG) on Nov. 14 reported the week’s second-best assay from the Atlanta project, on the site of a past producing open-pit mine in southeastern Nevada. Hole AT23NS-133F intersected 82.3 metres, grading 6.55 grams gold per tonne from 117.4 metres depth for a width x grade value of 539.
The company says the hole is the third-richest ever drilled at Atlanta and comes close on the heels of the richest assay recorded at the project – AT23WS-44 which on Oct. 2 returned 108.2 metres grading 11.64 grams gold, including 29 metres at 37.16 grams gold.
Previous drilling by Nevada King near AT23NS-133F provided little indication of such a high grade. However, two historical holes drilled by Bobcat in 1988 and one hole drilled by Goldfields in 1990 contained higher-grade intervals in the same area.
In 2021, Nevada King’s drilling showed chances of growing the high-grade mineralization near and north of the pit. By 2022, they refined their geological model and recognized new expansion areas. This year they’re homing in on high-grade sources and have found rich gold in two deposit areas, raising hopes for more bonanza hits during ongoing winter drilling.
Nevada King is amidst a 60,000-meter Phase II drilling program at the Atlanta project.
An NI 43-101 report published for Atlanta in 2020 outlined measured and indicated resources of 11 million tonnes grading 1.30 parts per million (ppm) gold for 460,000 oz., and inferred resources of 5.3 million tonnes grading 0.83 ppm for 142,000 ounces.
Torex Gold Resources in Mexico
In the third spot this week is Torex Gold Resources (TSX: TXG), which on Nov. 16 reported that hole LS-152 at the El Limon Guajes Underground exploration project cut 8.2 metres grading 44.69 grams gold per tonne from 6.7 metres depth for a width x grade value of 365.
The project, focused on expanding resources and extending and optimizing the life of ELG Underground beyond 2026, has made significant strides. Notable achievements include high-grade intercepts from drilling, particularly with LS-152’s yield.
These results continue to boost the team’s confidence in resource renewal and mine longevity.
El Limon Guajes Underground currently hosts proven and probable reserves of 2.6 million tonnes grading 5.83 grams gold per tonne for 480,000 oz. of metal.
For Q4, the focus will be on the El Limón Sur Trend, with geometric delineation programs planned to define the full extent of mineralization for resource tagging by the end of 2024.