Subject: ANALYSTS' COMMENTS
Emperor Intersects 15.8 g/t Au over 10.8 m on Duquesne West Property Under Option from Globex
ROUYN-NORANDA, Quebec, Oct. 17, 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) pleased to report on progress by Emperor Metals Inc (AUOZ ? CSE, EMAUF-OTCPK, 9NH-FSE) on the Duquesne West Gold property under option from Duparquet Assets, 50% owned by Globex (click to original option press release), located in Duparquet township, Quebec, north of Rouyn-Noranda.
To date, Emperor have completed 8,239 m of the initial +8,000 m drill program, having recently completed drill hole DQ23-13. Emperor previously announced partial assays from holes DQ23-01 and DQ23-02 (click to Globex press release dated September 12, 2023).
| Results included: | |
| DQ23-01: | 5.63 g/t Au over 11.70 m, including 7.98 g/t Au over 5.75 m |
| DQ23-02: | 3.97 g/t Au over 10.65 m, including 5.34 g/t Au over 5.00 m and |
| 1.69 g/t Au over 25 m, including 3.12 g/t Au over 7.00 m | |
| As regards these two holes, Emperor has now announced additional mineralized intersections as follows: | |
| DQ23-01: | 2.77 g/t Au over 4.15 m from 659.7 m to 663.85 m |
| 0.62 g/t Au over 22.6 m from 794.40 m to 817.0 m | |
| 0.33 g/t Au over 28.8 m from 914.15 m to 942.95 m | |
| DQ23-02 | 1.99 g/t Au over 2.0 m from 517.2 m to 519.2 m |
| 2.69 g/t Au over 2.5 m from 677.1 m to 679.6 m | |
| Assay results from new holes DQ23-03, 04 and 05 are now announced as follows: | |
| DQ23-03 | 5.09 g/t Au over 1.1 m from 417.75 m to 418.85 m |
| 6.14 g/t Au over 2.0 m from 941.20 m to 943.20 m | |
| DQ23-04 | 0.45 g/t Au over 17.50 m from 318.50 m to 336.00 m |
| 6.23 g/t Au over 2.75 m from 433.70 m to 436.45 m | |
| 4.24 g/t Au over 3.00 m from 449.00 m to 452.00 m | |
| 19.01 g/t Au over 1.20 m from 548.30 m to 549.50 m | |
| 0.45 g/t Au over 34.70 m from 571.30 m to 606.00 m | |
| 2.95 g/t Au over 1.25 m from 651.35 m to 652.60 m | |
| DQ23-05 | 5.01 g/t Au over 2.5 m from 133.00 m to 135.50 m |
| 0.50 g/t Au over 24.4 m from 257.20 m to 281.60 m | |
| 2.00 g/t Au over 3.1 m from 391.90 m to 395.00 m | |
| 15.85 g/t Au over 10.80 m from 556.00 m to 566.80 m, including 27.24 g/t Au over 3.4 m | |
| 0.52 g/t Au over 18.35 m from 575.65 m to 594.00 m | |
| It is believed that Hole DQ23-05 extends the targeted gold zone an additional +100 metres along plunge. | |
Cross Section DQ23-05 ? Emperor Metals
True widths of holes DQ23-01 to 23-04 estimated at 90%
True widths of hole DQ23-05 estimated at 80-90%
(Click here to access to current Emperor Metals press release dated October 17, 2023)
Emperor state they "Continue to see significant intervals of gold grades amendable for a conceptual open-pit mining environment above a high-grade underground mine" (see figures below).
Ultimate Pit Concept ? Images 1 and 2 ? Emperor Metals
The Duquesne West Property has a historical NI 43-101 Inferred Resource of 727,000 tonnes grading 5.42 g/t Au (using a gold price of $960.00 US/oz. Au). The NI 43-101 report is available on Globex's website.
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 [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 SEDAR at www.sedar.com.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b3387e0d-915b-47ec-8cf7-7202a673c581
https://www.globenewswire.com/NewsRoom/AttachmentNg/afc5b41b-26d5-43f5-a73a-aa348afc9247
https://www.globenewswire.com/NewsRoom/AttachmentNg/53c0a0b8-b2df-4e70-bfc6-92f258090235
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