Emperor Continues Open Pit Model Definition
ROUYN-NORANDA, Jan. 10, 2024 - 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. (AUOZ-CSE, EMAUF-OTCQB and FSE-9NH) have reported additional drill results from their 14 hole drill program on Globex' 50% owned Duquesne West gold property on the Porcupine-Destor gold localizing break, north of Rouyn-Noranda, Quebec in Duparquet township (click to Emperor's press release). Emperor optioned the property as announced by Globex on October 12, 2022 (click to Duquesne West option announcement).
Emperor is testing their "open pit concept" (see figure 1) which shows the proposed pit with a potential depth of 400 metres and a footprint of 1.8 km by 0.8 km. "Initial exploration in 2024 will strategically focus on the area of the Phase 1 pit design".
Over 3,000 metres of historical core has also been sampled and will be sent for assay. Approximately 25% of samples sent from the current 14-hole drill program have yet to be received.
Current reported drill results include:
| Hole # | Width (m) | Au (g/t) Au |
| DQ23-02 | 3.65 | 6.25 |
| Including | 1.15 | 12.17 |
| Previously reported | 10.65 | 3.97 |
| DQ23-07 | 15.7 | 0.82 |
| Including | 7.0 | 1.82 |
| 7.2 | 2.80 | |
| 2.0 | 2.42 | |
| 21.5 | 0.40 |
True widths are estimated to be 90% of intersection widths.
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.
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2779a17-32da-424a-b294-fb312a50a679
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