Emperor Renews Option on Globex’s 50% owned
02 Février 2024 - 3:01PM
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, 9NH-FSE) have paid Duparquet Assets Ltd., a
private company owned 50% by Globex, the second year option payment
to maintain Emperor’s option on the Duquesne West-Ottoman property
in Duparquet township, Quebec, NTS-32D06. The
option
renewal for 2024 consists of a $500,000 cash payment and $300,000
in Emperor shares based upon a 20-day VWAP amounting to 2,583,119
shares. During 2023, Emperor undertook a 14-hole drill
campaign and relogged and took 3 000 samples of historical core as
part of a program focused on outlining a near surface lower grade
open pittable gold deposit rather than an underground higher grade
mine. For previous press releases, Emperor have announced both high
grade and low grade intersections building upon their open pit
model.
Additional drill hole results are being
waited upon and the 3,000 metres of historical core samples are
being prepared to submit for assay.
The Duquesne West-Ottoman property straddles the
Porcupine-Destor gold localizing fault several kilometres east of
the town of Duparquet, Quebec. A number of previous drill campaigns
have outlined an inferred resource of 4.17 million tonnes
grading 5.42 g/t Au (cut) or 6.36 g/t Au (uncut) as
reported in the NI43-101 report “Technical Report and Mineral
Resource Estimate Update for the Duquesne-Ottoman Property, Quebec,
Canada by Watts, Griffis and McOuat, David Power-Fardy, M.Sc.,
Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer”
dated October 20, 2011. The report is available on Globex’s
website. Of particular note, is that a gold price of
US$960.00 per ounce and an exchange rate of US$0.95 = CDN$1.00 was
used as was a minimum mining width of 2.5 metres in the resource
calculation.
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 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax: 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.
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