Home > News > Emperor Metals Renews...

Emperor Metals Renews Option on Duquesne West Property

Jan 27, 2025


Emperor Metals Inc. has renewed its option on the Duquesne West property in Quebec by completing a second-year option payment to Duparquet Assets Ltd., a private company co-owned by Globex Mining Enterprises. The payment consisted of $500,000 in cash and the issuance of 3,671,569 common shares valued at $300,000, based on a 20-day volume-weighted average price.

“We are excited to continue progressing with this option agreement,” said John Florek, Emperor’s President and CEO. “The compelling results from the 2024 drilling season have revealed visible gold within lower-grade zones, which could significantly impact both grade and total ounces in the open-pit environment. Infill drilling supports this scenario, and we look forward to the upcoming Q1 mineral resource estimate update.”

Advancing Duquesne West

The Duquesne West property straddles the Porcupine-Destor Fault, a prolific gold-bearing structure located east of Duparquet, Quebec. Emperor’s 2024 exploration campaign included 19 drill holes totaling 8,166 meters and the re-analysis of 7,994 meters of historical core. These efforts focused on defining a near-surface, lower-grade, open-pit gold deposit, complementing the existing historical inferred resource of 4.17 million tonnes grading 5.42 g/t gold (cut) or 6.36 g/t gold (uncut), as reported in a 2011 NI 43-101 technical report.

The historical resource, though relevant and reliable, has not been classified as current mineral resources or reserves under NI 43-101 standards. Emperor aims to update this resource with its ongoing exploration and expects to release a revised mineral resource estimate in Q1 2025.

Results and Outlook

The 2024 drill program highlighted high-grade and low-grade intersections that bolster the open-pit model. Results have confirmed the presence of visible gold, enhancing confidence in the deposit’s potential. Additional drill results are pending, and the company plans further exploration to expand the resource and refine its open-pit design.

Emperor Metals continues to prioritize the Duquesne West property as part of its focus on high-quality gold assets within the Canadian Shield. The renewal of this option solidifies the company’s commitment to advancing the project and unlocking its potential for long-term value creation.

By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News



Tags: Quebec / Press Releases / Gold / All Articles