Drill Results
Emperor Reports Deep Wide High-Grade Gold Intercept on the Duquesne West Property Under Option from Globex
Globex advances drilling at Duquesne West while Mont Sorcier’s bankable feasibility study approaches, supported by portfolio royalties funding a steady exploration pace.
Executive Summary
- Globex Mining Enterprises reports a June 3, 2026 exploration update from Emperor Metals on the Duquesne West property, where drill hole DQ26-45 intersected 35.9 meters grading 3.1 g/t Au at depth below the current pit shell.
- The intercept demonstrates increased thickness and grade, reinforcing the multi-million-ounce bulk-tonnage model established in the July 2025 resource estimate (26.9 Mt @ 1.69 g/t Au).
- Only ~20% of the expected 2025-2026 program assays have been received, covering 16 of 47 drilled holes (~6,500m). The program remains well under budget.
- This update sits within a broader, highly active portfolio period for Globex, including:
- Mont Sorcier iron project: Bankable Feasibility Study (BFS) targeted for Q2 2026 completion, with metallurgical results supporting >67% Fe DRI-grade concentrate.
- Salt Spring Gold Project (Arizona): New high-grade trenching results (up to 12.70 g/t Au over 1.0m) expanding the mineralized footprint.
- Berrigan Zinc-Gold-Silver Royalty: High-grade ZnEq/AuEq intercepts from Tomagold, including a 98.5m interval at 5.75% ZnEq.
- Carp Fluorspar Property: Optioned to Evion Group with high-grade CaF2 assays (up to 88.15%) and property expansion.
- Multiple other option agreements and drilling updates across Bald Hill (antimony), Rouyn-Merger (gold), Lac Escale (lithium), and Virgin Mountain (REE/beryllium).
Material Impact
- The Duquesne West drilling result is a routine positive update that aligns with previous expectations. It confirms the continuity and expansion potential of the high-grade system at depth but does not introduce fundamentally new economic parameters or trigger an immediate re-rating.
- The broader portfolio activity demonstrates management's disciplined capital allocation strategy: optioning assets to junior operators who fund the exploration, while Globex retains royalty streams and equity upside.
- The primary near-term catalyst remains the Mont Sorcier BFS. Until that study is released, the market will likely view these exploration updates as incremental validation rather than material price drivers.
- Risk-averse perspective: Exploration results are subject to assay variability and geological uncertainty. The fact that only 20% of assays are in hand means the full program impact is not yet priced in.
GMX · Price
Company Overview
- Globex Mining Enterprises operates as a royalty and exploration company with a diversified portfolio across Canada and the United States.
- Flagship Projects:
- Duquesne West (Quebec): 50% owned, optioned to Emperor Metals. Inferred resource of 1.46Moz Au. Focus on bulk-tonnage open-pit and underground potential.
- Mont Sorcier (Quebec): 1% Gross Metal Royalty on a high-purity iron project. BFS underway targeting 8 Mtpa DRI-grade concentrate.
- Bald Hill (New Brunswick): Antimony project under option to Antimony Resources. High-grade stibnite intersections supporting a maiden resource.
- Lac Escale (Quebec): 3% GMR on a hard-rock lithium project with a 52.2 Mt inferred resource.
- Business Model: Globex acquires properties, stakes new claims, and options them to junior explorers. This generates upfront cash, share consideration, and ongoing royalties while transferring development risk.
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Jul 03, 2026 · 10:58