- Emperor Metals is growing the historic mineral resource of 727,000 ounces of high-grade gold at 5.42 g/t Au and an impressive 5.71 m avg thickness
- Emperor used artificial intelligence and machine learning to create the first 3D & geological model last year, leading it to discover potential for extending an open pit mine above the high-grade underground lenses on which it had previously focused
- The company has approximately $4 million in working capital to advance its project toward an updated mineral resource later this year
- Mobilization on an 8,000-meter drill program, coupled with an 8,000-meter core sampling project in the open pit, began last month for this year’s effort
Advanced stage gold explorer Emperor Metals (CSE: AUOZ) (OTCQB: EMAUF) (FRA: 9NH) is looking forward to proving and developing the substantial resource potential of its flagship Duquesne West Gold Project in southwest Quebec, Canada, with this year’s drilling program.
“Our drilling program is basically going to be 70-80 percent looking at the open pit potential. 20-30 percent is going to be looking at those high-grade lenses in the underground,” Emperor Metals President and CEO John Florek said during a Paydirt Prospector interview last month (https://nnw.fm/MGGd2).
“Now keep in mind, when we introduced this to investors it was just a high-grade underground gold deposit. The revelation last year was that (there may be) potential for a large-scale open pit above it,” Florek said. “So we did some pit optimization. … It’s exciting to have a big open pit deposit above a high-grade underground gold (resource).”
Florek said the company had begun mobilizing to go back to the historical core and sample within the open pit, doing an 8,000-meter drill program underground along with 8,000 meters of core sampling, trying to add inferred ounces to extend the open pit boundaries.
“Because (the open pit boundary) is really kind of still open to the east and to the west,” he said. “But we also want to drill some of that underground stuff because right below the open pit is those underground, high-grade ounces.”
The site in the historic Duparquet gold mining camp in the southern part of the Abitibi Greenstone Belt of Rouyn-Noranda, some 500 km northwest of Canada’s capital city of Ottawa, hosts an estimated historical mineral resource (2011) of 727,000 ounces of gold at a grade of 5.42 g/t Au.
Last year, the company used artificial intelligence and machine learning to reinterpret the existing geological model and guide its successful drilling campaign, creating “the first 3D mineralized and geological model” the company stated in a news release last month (https://nnw.fm/E5aeW).
Gold has been posting market gains in recent months and hit a new all-time high of US$2,427 per ounce in May (https://nnw.fm/i5pQr). Major emerging market economies, primarily in Asia, have been increasing their consumption of gold in recent years, centered around China which has historically been the world’s largest consumer of gold but with expectations that Singapore will be the new hub of world gold trading (https://nnw.fm/jLPWT).
The world trends and the resource discoveries at the Quebec site bode well for Emperor’s future.
“Emperor is well funded with approximately $4 million in working capital and will advance the Duquesne West Project towards an updated mineral resource,” Florek said in last month’s news release. “Gold prices continue to show strength, and we are confident that everything is now in place to give our shareholders the best chance of a successful upside on this project.”
For more information, visit the company’s website at www.EmperorMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to EMAUF are available in the company’s newsroom at https://nnw.fm/EMAUF
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer
NetworkNewsWire
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is powered by IBN
