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Amex Exploration ( (TSE:AMX) ) has provided an announcement.
Amex Exploration reported strong initial results from its bulk sample grade control drilling at the Champagne Zone on the Perron project in Quebec, including an intercept of 76.51 g/t gold and 7.57 g/t silver over 6.40 metres at about 200 metres depth. The program uses closely spaced, directional drill holes to refine the existing resource block model and reduce geological risk for the planned bulk sample and Phase 1 mine infrastructure.
Management said the first hole suggests grades in some areas of the block model may increase as drill spacing tightens, which could enhance confidence in stope design and short-term production planning. As production-driven drilling for the bulk sample and mine infrastructure is completed, Amex plans to shift its drilling strategy back toward exploration at Perron, potentially supporting longer-term growth of the project’s resource base.
The most recent analyst rating on (TSE:AMX) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.
Spark’s Take on TSE:AMX Stock
According to Spark, TipRanks’ AI Analyst, TSE:AMX is a Neutral.
The score is driven primarily by weak financial performance (pre-revenue, widening losses, and negative free cash flow) partly offset by a strong debt-free balance sheet. Technicals are a positive contributor due to a strong uptrend, though momentum looks overbought. Valuation is constrained by ongoing losses and no dividend support.
To see Spark’s full report on TSE:AMX stock, click here.
More about Amex Exploration
Amex Exploration Inc. is a Canadian mineral exploration company focused on gold, with its key activities centered on the Perron project in Quebec. The company advances high-grade gold zones such as the Champagne Zone, targeting measured and indicated resources to support future bulk sampling and potential mine development.
Average Trading Volume: 219,085
Technical Sentiment Signal: Buy
Current Market Cap: C$612.8M
Learn more about AMX stock on TipRanks’ Stock Analysis page.