ROUYN-NORANDA, Quebec, Jan. 08, 2025 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to report that Emperor Metals Inc. have shared additional results from its 2024 drill program which included 8,166 metres of drilling across 19 new drill holes and approximately 8,000 metres of historical core assays. To date, 70% of the new drilling assays have been reported, but only 35% of the total assays from the combined 2024 drilling and historical core resampling. All assaying should be completed by mid-February. The Duquesne West property is in Duparquet Township, Quebec, 32 km northwest of the town of Rouyn-Noranda and, covers a portion of the gold localizing Porcupine-Destor Break.
Highlights reported include:
| Hole DQ-24-12 | 4.1 g/t Au over 38.3 m including 7.2 g/t Au over 21.7 m |
| and | 0.6 g/t Au over 68.3 m including 1.2 g/t Au over 23.5 m |
| Hole DQ24-11 | 0.5 g/t Au over 56.1 m including 1.8 g/t Au over 24.8 m |
Note: Lengths reported are drill core lengths
John Florek, President of Emperor commented: “The intersection of broad zones of multi-gram gold (Au) mineralization with visible gold within the conceptual open-pit model is highly encouraging for future open-pit mining economics. These results highlight significant opportunities in poorly drilled areas within the defined conceptual open-pit model. This reinforces the potential to optimize and expand the currently understood boundaries of potentially viable mining for this deposit. This additional high-grade mineralization, once fully defined, will be vital to increasing our open-pit head grade for potential future mining and our upcoming Mineral Resource Estimate (MRE) expected in Q1 of 2025.”
Shareholders may read the detailed Emperor press release by clicking here.
Of note, on December 24, 2024, Emperor prepaid the $500,000 cash portion of the 2025 option payment. The share portion is expected later this month.
Globex is pleased with the progress of Emperor on the Duquesne West property which is 50% owned by Globex through Duparquet Assets Ltd
Location of DQ24-10 to 12 DDH – Emperor Metals
Cross section showing the location of DDH24-12 and the
significant intercepts in conceptual open-pit environment – Emperor Metals
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 |
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| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 |
Tel.: 819.797.5242 Fax: 819.797.1470 [email protected] www.globexmining.com |
Forward-Looking Statements: Except for historical information, this news release may contain certain “forward-looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDARplus.ca
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d52dc3b9-d1e3-4b25-8034-41a7c80f74be
https://www.globenewswire.com/NewsRoom/AttachmentNg/f155a215-de53-4527-accd-0fdad7ac56f3
