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ROUYN-NORANDA, Quebec, July 09, 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 inform shareholders that Emperor Metals Inc. have published a new Mineral Resource Estimate on the Duquesne West Property in Duparquet Township, Quebec, a property 50% owned by Globex and under option by Emperor.
The new resource estimate is based upon a combination of open pit and underground mining methods. The new "Inferred Mineral Resource is 26.9 million tonnes containing 1.46 million ounces of gold at an average grade of 1.69 grams per metric tonne Au.” Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Details of the parameters used in the resource calculation are available in the Emperor press release.
"The deposit features multiple high-grade zones within a broader low-grade, bulk-tonnage gold envelope with approximately 44% of the 1.46 Moz. amenable to conceptual open-pit extraction and 56% potentially minable via conceptual underground methods.” Globex is pleased by the progress to date and that Emperor have already more than doubled the historical resource. They have stated that "In 2025, the focus is on surpassing the Inferred two-million-ounce mark and driving continued resource growth through systematic exploration from 1000 feet depth to surface.”
Jack Stoch, President, CEO and Director of Globex commented "We are encouraged by the strong increase in resources that Emperor has estimated after their drilling programs on the Duquesne West. We look forward to seeing the continued progress on the Duquesne West project from the Emperor team.”
Strong potential exists for resource expansion including enhanced conceptual open-pit grade through additional discoveries of high-grade zones.
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The Emperor Metals press release containing a great deal of pertinent details may be accessed by clicking here.
Figure 1 - Oblique View of the 2025 Duquesne West MRE Conceptual Pit Shell (beige) and
Gold Block Model (gradational colour bar), and drill holes (black traces).
Table 1 - Summary of the Inferred Mineral Resources on the Duquesne West Project.
Au Cutoff
(g/t)Tonnes
(Mt)Au
(Moz)Au
(g/t)Pit-Constrained Mineral Resource Estimate0.2518.20.6461.11Out-of-Pit Mineral Resource Estimate1.158.70.8152.92Total Mineral Resource Estimate0.25/1.1526.91.4601.69
Table 2 - Sensitivities of the Inferred Pit-Constrained 2025 Duquesne West MRE.
Au Cutoff
(g/t)Tonnes
(Mt)Au
Contained (Moz)Au
Grade (g/t)0.220.190.6611.020.2518.170.6461.110.316.240.6291.210.413.010.5931.420.510.620.5591.6415.010.4322.681.52.750.3453.9021.890.2974.902.51.490.2685.6231.110.2356.603.50.930.2177.2440.780.1997.90
Table 3 - Sensitivities of the Inferred Out-of-Pit 2025 Duquesne West MRE.
Au Cutoff
(g/t)Tonnes
(Mt)Au
Contained (Moz)Au
Grade (g/t)18.720.8162.911.158.690.8152.921.37.590.7713.161.56.460.7213.4724.530.6144.212.53.430.5354.853.52.440.4475.7041.910.3916.39
The NI 43-101 Mineral Resource was prepared by APEX Geoscience Ltd., under Warren Black, M.Sc., P.Geo., Senior Consultant in a report dated July 2, 2025, which will be filed under Emperor’s SEDAR+ profile within 45 days.
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 529900XYUKGG3LF9PY95For 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
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 figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c0af0330-8dd3-4431-93da-2752ecc23948
