Globex Mining Enterprises Inc. ($GMX) Reports Initial Drilling Results
Globex Mining Enterprises Inc. ($GMX – Toronto Stock Exchange) is excited to share the initial findings from Emperor Metals Inc.'s 2025–2026 drilling program at the Duquesne West gold property, which has been optioned from Duparquet Assets Ltd. (50% owned by Globex). The Emperor campaign marks the start of a comprehensive exploration initiative, including 15,000 metres of new drilling and 8,000 metres of historical core resampling, contributing an additional 23,000 metres of data to refine and enhance the geological model.
So far, assay results represent roughly 7% of the new drilling program and just 4% of the total assays expected for the 2025–2026 season—comprising current drilling and historical core resampling. Drilling activities are ongoing, and Globex is pleased with the progress made by Emperor on this project.
Significant Intervals of Mineralization
Despite the preliminary nature of the data, significant intervals exceeding 50 meters of mineralization have been encountered in core samples, highlighting the system's scale and continuity. This reinforces the necessity for systematic follow-up drilling (see Table 1). Recent drilling has unveiled previously unrecognized, near-surface bulk-tonnage zones, along with high-grade gold lenses containing visible gold. Notably, these mineralized zones have exceptional high-grade intervals, including 21.7 metres grading 35.2 g/t Au (refer to the press release dated February 25, 2025). These findings underline the considerable upside potential within the extensive near-surface mineralized envelope.
Resource Expansion Potential
Emperor aims to achieve a multi-million-ounce gold resource through a combination of conceptual open-pit and underground mining scenarios. Currently, the property has an updated inferred mineral resource estimate (MRE) of 26.9 Million Tonnes (Mt) containing 1.46 million ounces (Moz) of gold at an average grade of 1.69 g/t Au (as per the press release dated July 9, 2025). The sensitivity table in the MRE provides various grade scenarios for both higher-grade open pit and underground mining.
Drill Hole Highlights
The ongoing 2025–2026 drilling program validates both low-grade bulk-tonnage mineralization and higher-grade zones within and beyond the limits of the current conceptual open-pit shell. Drill holes DQ25-01 and DQ25-02 were specifically designed to infill sparsely tested areas within the pit, where historical data was limited, with the goal of enhancing continuity and adding meaningful ounces to the overall deposit (see Table 1 Results).
Historically, exploration efforts focused on the higher-grade core of the system, leaving surrounding mineralized envelopes underexplored. This underexplored potential could significantly bolster the project’s overall ounce profile, especially as gold prices soar near historic highs.
Strategic Focus on Near-Surface Drilling
By concentrating on near-surface drilling aligned with potential open-pit mining scenarios, Emperor aims to strategically expand its resource base by incorporating lower-grade material that could be economically viable under open-pit parameters, as opposed to the higher cut-off grades typically associated with underground mining. Comparable open-pit operations in the region have shown economic viability at cut-off grades around 0.30 g/t Au (see Agnico Eagle press release dated February 15, 2024; Detour Lake Deposit cut-off grade, p. 52).
Notable Drill Results
Drill hole DQ25-01 confirmed the presence of broad, bulk-tonnage gold mineralization within the conceptual open-pit shell, highlighted by a substantial 107.7-metre interval grading 0.5 g/t Au. Positioned in an area with historically limited sampling, this hole indicates a more extensive and less discrete sub-gram gold system than previously recognized (see Exhibit 1).
This expansive zone of mineralization, characterized by disseminated pyrite, is hosted within and along the margins of a significant quartz–feldspar porphyry intrusion. The surrounding mafic volcanic rocks are strongly sheared and mineralized along the intrusive contact, emphasizing the structural influence of emplacement.
Drill hole DQ25-02 has reported partial results, intersecting a significant zone of low-grade gold mineralization with 42.8 meters grading 0.3 g/t Au. This broad zone of mineralization mirrors the findings of DQ25-01, hosted within and along the margins of the same quartz–feldspar porphyry intrusion, characterized by disseminated pyrite in veins and the host rock.
Ongoing Commitment to Exploration
The 2026 drilling campaign at Emperor’s Duquesne West Gold Project in Quebec continues to reveal extensive low-grade bulk tonnage zones surrounding known high-grade areas. These latest results reinforce the project’s immense potential and underscore the Company’s dedication to unlocking significant value for its shareholders. For detailed insights into Emperor’s drilling campaign at the Duquesne West project, please refer to the February 24, 2026, press release.
An image accompanying this announcement is available at this link.