Globex Mining Enterprises Inc said its optionee Emperor Metals Inc has received the required permits and selected a contractor to begin its first drill program on Globex’s 50% owned Duquesne West gold property in Quebec.
According to Globex, Emperor created the first ever in-house 3D block model for the property using Artificial Intelligence (AI), which has provided it with a depiction of gold mineralization that is similar to the 2011 resource estimate that showed 727,000 inferred gold ounces.
“The 3D block model has enabled Emperor to envision potential patterns for resource expansion targeting high-grade zones that will hopefully lead to an expanded mineral resource with potential for minable economic underground shapes for potential stopes,” Emperor Metals stated in its news release.
Globex optioned the Duquesne West/Ottoman property to Emperor in October 2022, in consideration for $10 million in cash, 15 million Emperor shares, plus the requirement of $12 million in exploration work over five years, while Globex retains a 3% gross metal royalty.
Listed in Toronto, Frankfurt and on the OTCQX in the US, Globex boasts a North American portfolio featuring mid-stage exploration, development, and royalty properties. These assets span precious metals, base metals, specialty metals, minerals, and industrial compounds
Contact Sean at sean@proactiveinvestors.com