Open pit and underground stope constrained resources now total 8.18 million measured and indicated tonnes grading 6.13 grams gold per tonne for 1.61 million oz., Amex reported Wednesday.
The grade rises by almost half over the estimate in a preliminary economic assessment (PEA) from last September. Inferred resources total 5.04 million tonnes at 4.31 grams gold for 698,000 ounces. Located near the town of Normétal, Perron is about 730 km northwest of Montreal.
“This estimate demonstrates the team’s ability to identify and grow the Perron project into a world class gold asset,” president and CEO Victor Cantore said in a release. “Given the quality of the project, we are pursuing a dual pathway of development and continued exploration at Perron.”
Amex shares rose to C$1.39 apiece on Wednesday morning in Toronto, for a market capitalization of C$168 million.
Perron sits on the Abitibi Greenstone belt which stretches from northern Ontario east across to Val-d’Or, Quebec, and hosts some of Canada’s largest producing mines and deposits such as Newmont’s (NYSE: NEM, TSX: NGT) Porcupine, Agnico Eagle’s (TSX, NYSE: AEM) Canadian Malartic, and Gold Fields’ (NYSE, JSE: GFI) Windfall site.
[More]
