ROUYN-NORANDA, Quebec, Sept. 12, 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 provide an update regarding drilling by Emperor Metals (CSE: AUOZ, OTCPK: EMAUF, FSE: 9NH) on the Duquesne West Gold property in Duparquet township, Quebec (NTS-32D06) under option from 50% Globex owned Duparquet Assets Ltd. (see Globex press release dated October 12, 2022)
Emperor has completed six drill holes to date totaling 5,500 metres of the planned +8,000 metre program.
Partial assay results are available from the first two drill holes and include the following:
- Hole DQ23-01 intersected 5.6 g/t Au over 11.7 m (38.4 feet).
- Hole DQ23-02 intersected 3.97 g\t Au over 10.65 m (34.9 feet) at a core depth of 540.25 m and an addition wide intersection of 1.69 g\t Au over 25.0 m (82 feet). (Note: This hole was recollared and extended. Assays are pending). Click to access Emperor’s press release of September 12, 2023.
See Figure 1 below for details of current assay results.
The optioned Duquesne West property consists of 38 cells which straddle the gold localizing Porcupine-Destor Break which hosts numerous gold deposits across the Abitibi of Quebec and Ontario. Previous drilling has intersected a significant number of gold zones along the entire strike length of the property.
An NI 43-101 resource estimate titled “Technical Report and Mineral Resource Estimate Update for the Duquesne West/Ottoman property, Quebec, Canada, for Xmet Inc.", prepared by David Power Fardy, M.Sc., P. Geo., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer of Watts, Griffis and McOuat dated October 20, 2011, was completed.
| Tonnes | Au (g/t) (Capped) | Contained Au (oz) (Capped) | Au (g/t) (Uncapped) | Contained Au (oz) (Uncapped) |
| 4,171,000 | 5.42 | 727,000 | 6.36 | 853,000 |
The NI 43-101 is available here or on Globex’s website. It is worth noting that the Duquesne West property is bounded on the west and east by First Mining Gold’s Pitt and Duquesne Mine properties on which First Mining reported 2,691,000 tonnes grading 2.67 g/t Au and 11,330,000 tonnes grading 2.24 g\t Au respectively in press release dated September 7, 2023.
Figure 1 – Partial assay results from Hole No DQ23-01 and DQ23-02, Source: Emperor’s PR
| Hole No. | From (m) | To (m) | Interval (m) | Au (g/t Au) |
| 1DQ23-01 | 531.30 | 532.20 | 0.90 | 4.96 |
| 532.20 | 532.70 | 0.50 | 2.95 | |
| 532.70 | 533.70 | 1.00 | 3.01 | |
| 533.70 | 534.35 | 0.65 | 11.96 | |
| 534.35 | 535.00 | 0.65 | 2.00 | |
| 535.00 | 535.50 | 0.50 | 19.27 | |
| 535.50 | 536.35 | 0.85 | 5.57 | |
| 536.35 | 536.95 | 0.60 | 3.21 | |
| 536.95 | 537.50 | 0.55 | 2.30 | |
| 537.50 | 538.00 | 0.50 | 1.30 | |
| 538.00 | 538.90 | 0.90 | 13.01 | |
| 538.90 | 539.45 | 0.55 | 12.52 | |
| 539.45 | 540.00 | 0.55 | 6.66 | |
| 540.00 | 540.65 | 0.65 | 2.63 | |
| 540.65 | 541.25 | 0.60 | 5.11 | |
| 541.25 | 542.25 | 1.00 | 1.05 | |
| 542.25 | 543.00 | 0.75 | 2.07 | |
| Wt. Avg. | 11.70 | 5.63 | ||
| Including | 5.75 | 7.98 | ||
| 551.00 | 551.50 | 0.50 | 8.21 | |
| Wt. Avg. | 0.50 | 8.21 | ||
| 1DQ23-02 | 540.25 | 541 | 0.75 | 13.19 |
| 541.00 | 541.75 | 0.75 | 4.64 | |
| 541.75 | 542.55 | 0.80 | 2.97 | |
| 542.55 | 543.25 | 0.70 | 2.9 | |
| 543.25 | 544.25 | 1.00 | 3.01 | |
| 544.25 | 545.25 | 1.00 | 5.92 | |
| 545.25 | 546.25 | 1.00 | 3.32 | |
| 546.25 | 547.25 | 1.00 | 2.29 | |
| 547.25 | 548.00 | 0.75 | 1.61 | |
| 548.00 | 548.75 | 0.75 | 1.81 | |
| 548.75 | 549.75 | 1.00 | 0.86 | |
| 549.75 | 550.30 | 0.55 | 9.52 | |
| 550.30 | 550.90 | 0.60 | 2.11 | |
| Wt. Avg. | 10.65 | 3.97 | ||
| Including | 5.00 | 5.34 | ||
| 814.00 | 841.00 | 25.0 | 1.69 | |
| Wt. Avg. | 25.0 | 1.69 | ||
| Including | 7.00 | 3.12 | ||
| 1Note: Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%. | ||||
Duquesne West, Quebec property map
Globex is pleased with the progress reported by Emperor and looks forward to additional disclosures of assay results.
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 | |
| 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 info@globexmining.com 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/9fa69689-3a3f-46a7-ae8a-b7d9c772f4e0
