Drill Results
Globex Mining Enterprises Inc. Reports High-Grade Gold Intersections at Duquesne West
High-grade drill results at Duquesne West sustain exploration momentum, but pre-revenue status and dilution risk cap near-term upside.
Executive Summary
- Globex Mining Enterprises (via its 50% stake in Duparquet Assets Ltd., which holds an option on Emperor Metals Inc.) reported high-grade gold intersections from the Duquesne West property in Quebec.
- Drill hole DQ 26-20 returned 61.5 g/t Au over 15.0 metres, including a high-grade core of 557.5 g/t Au over 1.4 metres and 100.9 g/t Au over 1.0 metre, surrounded by a 35.8-metre halo grading 26.09 g/t Au.
- The intercept is located within the conceptual Main Pit area, 35 metres down plunge from historical hole DQ95-21.
- The 2026 exploration program totals over 15,000 metres of new drilling plus 8,000 metres of historical core sampling, with work remaining under budget.
- This follows a series of progressive drill results throughout 2026, including broad bulk-tonnage intercepts in early June and visible gold discoveries in April.
Material Impact
- The results confirm continued high-grade gold mineralization and support the conceptual open-pit and underground mining scenarios outlined in prior releases.
- No new mineral resource estimate, preliminary economic assessment (PEA), or feasibility study was announced alongside the results.
- The company remains pre-revenue and in the exploration phase; the news does not alter the capital structure, debt profile, or near-term cash burn trajectory.
- Given the active drilling campaign and prior announcements of similar high-grade intercepts, the market likely already priced in the potential for these results. The release serves as validation of the geological model rather than a fundamental re-rating event.
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Company Overview
- Globex Mining Enterprises Inc. holds a 50% interest in Duparquet Assets Ltd., which maintains an option agreement over Emperor Metals Inc.'s Duquesne West Gold Project in Quebec's Abitibi Greenstone Belt.
- The company is focused on gold exploration and early-stage development, utilizing AI and machine learning for geological modeling and drill targeting.
- Duquesne West holds an inferred mineral resource of 26.9 Mt at 1.69 g/t Au (1.46 Moz Au), with conceptual plans for both open-pit and underground mining.
- The company also holds the Lac Pelletier property, which has an authorized underground extraction permit (up to 1,000 tpd) and is targeting production ramp-up in late 2027–early 2028.
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Jun 30, 2026 · 08:01