Emperor Reports Additional Drill Results on Duquesne West
ROUYN-NORANDA, Quebec, Jan. 30, 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 provide additional information as reported by Emperor Metals Inc. regarding work on the 50% Globex owned Duquesne West property in Duparquet Township, Quebec, 32 km northwest of the city of Rouyn-Noranda.
Emperor completed 8,166 metres of drilling in 19 new holes, and approximately 8,000 metres of historic core resampling in 2024. To date, 88% of the new drill assays have been reported but only 52% of the combined new and historical core resampling. 'Emperor is targeting a multi-million-ounce resource, utilizing a combination of conceptual open-pit and underground mining scenarios.' An updated mineral resource estimate is expected in Q1 or early Q2, 2025.
New drill results within the conceptual open pit and outside it, includes the following:
Hole DQ24-15
14.2 m grading 1.2 g/t Au and 20.4 m grading 0.6 g/t Au
Hole DQ24-12
16.3 m grading 0.8 g/t Au
Hole DQ24-13
8.1 m grading 1.0 g/t Au and 30.5 m grading 0.5 g/t Au
Hole DQ24-16
7.1 m grading 1.3 g/t Au
CEO John Florek of Emperor commented:
'It's clear that we continue to observe widespread gold mineralization both within and outside the current open-pit concept. This highlights the significant exploration potential to add valuable ounces to the project, supporting the upcoming 2025 Mineral Resource Estimate (MRE) expected in Q1 or early Q2.'
Shareholders can access the detailed Emperor press release here.The Duquesne West property is under option from Duparquet Assets Ltd. which 50% is owned by Globex, as announced in a press release date October 12, 2022.
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
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 SEDARplus.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ecf5bf7-be7b-49fb-a4ea-b73ffd483bd9Sign in to access your portfolio
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This News Release includes certain 'forward-looking statements' which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. SOURCE: Galway Metals Inc. press release
