Snowline’s strong grades on repeat in Yukon create ‘Hollywood problem,’ analyst says
The assays reduce risk along with engineering and permitting expected this year, SCP Resource analyst says.
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 [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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ecf5bf7-be7b-49fb-a4ea-b73ffd483bd9
