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Amex Exploration has filed the supporting NI 43-101 technical report for the Phase 1 feasibility study of its wholly owned Perron gold project, in the Abitibi region of Quebec, near the town of Normétal.
The Phase 1 feasibility, whose results were first published on April 13, contemplates an underground mine running at 1,100 tonnes per day with toll milling through existing permitted capacity in the Abitibi — an approach that keeps initial capital low and shortens the path to production.
Key Phase 1 numbers from the study include proven and probable reserves of 1.989 million tonnes grading 12.1 g/t gold for roughly 774,500 contained ounces, average annual production of about 147,000 ounces over a five-year mine life, and life-of-mine all-in sustaining costs of US$910 per ounce.
The economics are headline-friendly: an after-tax net present value at a 5% discount rate of C$1.13 billion, an after-tax internal rate of return of 114.6%, and a payback period of roughly six months from commercial production. Initial capital is pegged at C$193.9 million, gross of C$68.1 million in pre-production revenue.
The technical report, titled "NI 43-101 Technical Report and Feasibility Study for the Perron Mine, Québec, Canada," carries an effective date of March 31, 2026, and was prepared by independent consultants from P&E Mining Consultants, Laurentia Exploration, Evomine Consulting, A2GC, Hydro-Ressources, Soutex and Norda Stelo. The report is available on SEDAR+.
Amex's Perron project sits about 110 km north of Rouyn-Noranda, covering 183 contiguous claims over 65.72 km². It hosts high-grade gold zones along with copper-rich volcanogenic massive-sulphide (VMS) mineralization and what the company describes as "hybrid" gold-rich VMS zones. Combined with Amex's adjacent Perron West, Abbotsford and Hepburn projects in Ontario, the consolidated district-scale land package totals 570.94 km². The Perron property has year-round road access, sits about 30 minutes from an airport and roughly 6.5 km from Normétal, and is within range of several mills owned by major Abitibi gold producers.