ROUYN-NORANDA, Quebec, Dec. 05, 2023 (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 update shareholders regarding ongoing work on Globex’s Duquesne West property located in Duparquet Township, Quebec, under option to Emperor Metals Inc. (AUOZ-CSE, EMAUF-OTCPK and 9NH-Frankfurt). Click to access option press release dated October 12, 2022.
To date, Emperor have released assays from holes DQ-23-01, 03, 04, 05 and 09 of 14 holes drilled. They are awaiting additional assays from Holes DQ-23-06, 07, 08, 09, 10, 11, 12, 13 and 14. In addition, Emperor have and are continuing to, sample historical drill holes in particular core recovered close to surface in their quest to outline a large tonnage, low grade, open pittable gold deposit. Three thousand (3,000) metres of historical near-surface core has currently been sampled and will be assayed. Emperor are working to prove up their open pit concept with an ultimate pit 400 metres deep, 1.8 km long by 0.8 km wide (see concept drawing below).
Today, Emperor announced drill results from two drill holes as follows:
- DQ-23-06 5.15 m grading 2.06 g/t Au, including 1.15 m grading 6.80 g/t Au
- DQ-23-09 13.2 m grading 3.75 g/t Au including 5.6 m grading 7.54 g/t AuHole 23-06 extended mineralization over 500 metres eastward along strike and down plunge.
Hole 23-09 was drilled to intersect near surface mineralization and successfully did so supporting the open pit concept.(Click here to access todays Emperor Metals Press Release).
Previous reported assays by Emperor include 10.8 m grading 15,8 g/t Au, including 3.4 m grading 27.24 g/t Au in drill hole DQ-23-05. (click to view Globex press release dated October 17, 2023 for additional assays from holes DQ-23-01, 02, 03, 04 and 05).
Globex is pleased with the progress made by Emperor and their focus on defining an open pittable gold deposit. The property currently has a NI 43-101 Inferred Resource of 4.17 million tonnes grading 5.42 g/t Au (6.36 g/t Au uncut) for 727,000 oz Au cut or 853,000 oz Au uncut. Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada prepared by David Power-Fardy, M.Sc., P.Geo., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer for XMET Inc., October 20, 2011 (click here to view report).
This press release was written by Jack Stoch, 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 SEDAR at www.sedar.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa0f29d8-febf-4784-9a54-6c34afbbb47f
