Amex Exploration Announces Metallurgical Results with Greater Than 95% Gold Recovery from Major Gold Zones at Perron

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Amex Exploration Inc. reports excellent metallurgical test results with gold recoveries exceeding 95% in all samples and over 98% in high-grade samples across multiple gold zones. The tests show high gold concentrations and good recoverability through gravity, flotation, and leaching processes, providing promising economic scenarios for mining at Perron. The results are verified by SGS Canada Inc., a reputable metallurgical and analytical studies leader.

Montreal, Quebec--(Newsfile Corp. - March 18, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to report the metallurgical test work from the Denise, Gratien, Grey Cat and Team gold zones (Figure 1). The overall gold recoveries achieved (gravity + flotation + leaching) tests showed excellent recovery > 95% in all samples and > 98% on high-grade samples (Table 1). For a full list of the metallurgical test results, please see Tables 1-6 below.

As a reminder, on November 11, 2020, Amex reported metallurgy results from High Grade Zone (HGZ), where all three composites returned better than 99% gold recovery using a simple flowsheet. Both low and high-grade composites were tested for all zones. Metallurgical work was completed by SGS Canada Inc., a leader in metallurgical and analytical studies.

Jacques Trottier, PhD, Executive Chairman of the Board of Amex Exploration commented, "This metallurgical work is important data for the upcoming Preliminary Economic Assessment study that we plan to release in the coming months. I am pleased to see such incredibly high gold recoveries from each of our major gold zones defined to date. Better than 95% gold recovery means our ore is easily processable at virtually every mill in the Abitibi, providing us with additional production optionality as we consider various economic scenarios for mining at Perron."

The following sections are extracts from the test work obtained from SGS Laboratories, which have been verified by authorized metallurgists.

Figure 1. Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.

To view an enhanced version of this graphic, please visit:
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Table 1: Final results (gravity + flotation + leaching) from the metallurgical test work completed from multiple gold zones across the Perron property.

	Recovery
	Gravity	Gravity + Flot	Gravity +	Gravity	Gravity + Flot	Gravity +
			Flot + CN			Flot + CN
Test #	Au	Au	Au	Ag	Ag	Ag
	%	%	%	%	%	%
GC-HG	41.7	84.1	97.4	45.6	51.5	60.8
GC-MHG	57.2	90.2	97.9	7.2	22	37.2
G-LG	72.1	94.9	98.9	14.2	28.7	42.6
GA-HG	66.8	92.8	99.8	40.2	80.1	85.1
GR-HG	34.3	95.5	99.7	17.9	77.2	81.6
WD-HG	69.9	93.5	98.8	21.3	36.8	49.1
WD-MG	66.3	93.3	98.9	66.2	80.9	87.1
WD-LG	14.0	74.3	94.6	3.0	14.8	31.3
TZ-LG	57.3	92.4	99.1	20.6	39.9	51.5
TZ-HG	44.8	87.4	98.4	17.5	32.3	45.5
TZ-MG	57.1	90.2	99.2	20.6	39.9	51.6
*Legend GC-HG = Grey Cat - High Grade GC-MHG = Grey Cat - Medium High Grade G-LG = Gratien (Andesite) - Low Grade GA-HG = Gratien Andesite - High Grade GR-HG = Gratien Rhyolite - High Grade WD-HG = Western Denise - High Grade WD-MG = Western Denise - Medium Grade WD-LG = Western Denise - Low Grade TZ-LG = Team Zone - Low Grade TZ-HG = Team Zone - High Grade TZ-MG = Team Zone - Medium Grade

 

Sample Preparation

Thirteen composites' samples of half core were delivered. Three of the first samples (Grey Cat Zone) were combined to have more material for the test program, then reducing the composites samples for tests to eleven (Table 1). Each sample was stage crushed with a combination of jaw, cone and roll crusher to 100% passing 6 mesh. The sample was homogenized, and a 10 kg sub-sample was rotary split for bond ball mill work index testing (BWI) and the remainder was crushed to 100% passing 10 mesh. The sample was homogenized, and rotary split into 10 kg test charges and a 1 kg head assay charge.

Head Characterization

Gold Analysis by Screened Metallics

The 1 kg charges from each sample were submitted for gold analysis using the screened metallics protocol. This method is recommended when the ore is suspected to contain coarse, gravity recoverable gold. The method involves several stages of pulverizing and screening the pulverized sample at 150 mesh (106 µm) until approximately 20-30 g of material remains in the screen oversize. The screen oversize and duplicate samples of the final combined screen undersize are submitted for chemical analysis and the head assay of the sample calculated from the relative distribution of the screened fractions. The results shown in Table 2 below indicate gold grades ranging from 0.46 g/t to 11.7 g/t, and high gravity recoverable gold, greater than 15% (favorable for gravimetric circuit) for all samples except one sample.

Table 2: Head Assays.

Sample	Head Au (g/t)	+150mesh		-150mesh			% Distribution
		Wt. %	g/t	Wt. %	g/t Au A	g/t Au B	+150mesh	-150mesh
GC-HG	3.98	2.63	18.7	97.4	3.76	3.41	12.3	87.7
GC-MHG	0.52	2.56	3.97	97.4	0.67	0.36	3.49	96.5
G-LG	1.27	3.63	7.70	96.4	1.21	1.00	16.1	83.9
GA-HG	11.7	2.62	226	97.4	5.78	6.16	50.3	49.7
GR-HG	5.15	1.78	44.8	98.2	4.33	4.54	15.4	84.6
WD-HG	2.50	1.62	87.9	98.4	1.88	0.88	45.7	54.3
WD-MG	8.11	3.38	138	96.6	3.67	3.45	57.6	42.4
WD-LG	0.46	3.38	0.44	96.6	0.43	0.49	3.38	96.6
TZ-LG	0.91	4.12	8.70	95.9	0.63	0.52	39.4	60.6
TZ-HG	1.36	3.15	6.46	96.9	1.26	1.12	15.3	84.7
TZ-MG	2.49	3.27	34.4	96.7	1.42	1.39	45.4	54.6

 

Comminution Test Work

Bond Ball Mill Grindability Test

The bond ball mill grindability test was completed on each of the eleven samples. A summary of the test results is presented in Table 3. With bond work index (BWI) values ranging from 14.1 to 20.0 kWh/t, the samples were found to be moderately hard to hard compared to the SGS database.

Table 3: Bond Ball Mill Grindability Test Results.

Sample ID	Mesh of Grind	F80 (µm)	P80 (µm)	Gram per Revolution	Work Index (kWh/t)	Hardness Percentile	Category
GA-HG	100	2319	117	1.66	14.3	50	Medium
GC-HG	100	2454	115	1.08	20	93	Very Hard
GC-MHG	100	2476	114	1.22	17.9	84	Hard
G-LG	100	2389	114	1.34	16.6	76	Hard
GR-HG	100	2517	114	1.28	17.2	80	Hard
TZ-HG	100	2502	114	1.37	16.2	73	Moderately Hard
TZ-LG	100	2441	112	1.40	15.8	68	Moderately Hard
TZ-MG	100	2317	112	1.49	15.1	60	Moderately Hard
WD-HG	100	2471	111	1.55	14.5	52	Medium
WD-LG	100	2547	113	1.40	15.8	68	Moderately Hard
WD-MG	100	2471	109	1.57	14.1	48	Medium

 

Metallurgical Test Work

Gravity Separation

A single gravity separation test was completed on each composite, evaluating the potential for gravity recoverable gold and silver at a coarse primary grind size (P₈₀ ranging from 184-416 µm) using a Knelson MD-3 concentrator. The Knelson concentrate was submitted for chemical analysis with the tailings subsampled for chemical analysis and flotation testing. The gravity test results are summarized in Table 4.

The Knelson concentrate represents the achievable gravity recovery and was able to recover 34 % to 72 % at gold concentrations of 381 g/t Au and 4711 g/t Au, showing that all samples were very amenable to the gravity separation process; except one sample with lowest grade showed 14% recovery and 39 g/t Au.

Table 4: Gravity Test Results.

Sample	Product	Weight	wt.	Assays, g/t		% Distribution
		g	%	Au	Ag	Au	Ag
GC-HG	Gravity Concentrate	5.9	0.1	2092	407	42	46
	Gravity Tail	5720	99.9	3.02	< 0.5	58	54
	Calculated Head	5726	100	5.17	0.92	100	100
	Direct Head	-	100	2.71	0.9
GC-MHG	Gravity Concentrate	7.5	0.08	381	50	57	7
	Gravity Tail	9689	99.9	0.22	< 0.5	43	93
	Calculated Head	9696	100	0.51	0.54	100	100
	Direct Head	-	100	1.76	0.8
G-LG	Gravity Concentrate	14.2	0.15	499	57	72	14
	Gravity Tail	9770	99.9	0.28	< 0.5	28	86
	Calculated Head	9784	100	1	0.58	100	100
	Direct Head	-	100	2.24	0.8
GA-HG	Gravity Concentrate	9.2	0.09	4711	718	67	40
	Gravity Tail	9835	99.9	2.19	1	33	60
	Calculated Head	9844	100	6.59	1.67	100	100
	Direct Head	-	100	4.22	0.9
GR-HG	Gravity Concentrate	5.6	0.11	1168	453	34	18
	Gravity Tail	5071	99.9	2.47

FAQ

What are the key highlights of Amex Exploration Inc.'s metallurgical test results?

Amex Exploration Inc. reports excellent metallurgical test results with gold recoveries exceeding 95% in all samples and over 98% in high-grade samples across multiple gold zones.

Who completed the metallurgical work for Amex Exploration Inc.?

Metallurgical work was completed by SGS Canada Inc., a leader in metallurgical and analytical studies.

What is the significance of the metallurgical test results for Amex Exploration Inc.?

The tests show high gold concentrations and good recoverability through gravity, flotation, and leaching processes, providing promising economic scenarios for mining at Perron.

What company verified the results of Amex Exploration Inc.'s metallurgical tests?

The results are verified by SGS Canada Inc., a reputable metallurgical and analytical studies leader.