Emperor Metals (CSE: AUOZ) has released a maiden resource estimate for their Duquesne West Gold Project in Quebec. The Abitibi-based project has seen the estimate assembled using both open pit and underground mining models.
Highlights from the results include:
- Open pit: Inferred resources of 18.2 million tonnes at 1.11 g/t gold
- Containing 646,000 ounces of gold
- Underground: Inferred resources of 8.7 million tonnes at 2.92 g/t gold
- Containing 815,000 ounces of gold
On a combined basis Duquesne West is estimated to contain 1.46 million ounces of gold at an average grade of 1.69 g/t gold. The estimate uses a 0.25 g/t cut-off for the pit constrained resource, and a 1.15 g/t gold cut-off for the out-of-pit resource. The estimate is based on 292 drillholes drilled over an aggregate 8,229 metres.
Strong potential is said to exist for resource expansion for both the open pit and underground models, with several underexplored zones having been identified. Further exploration is expected to commence in August, with an 8,000 to 10,000 metre program currently planned.
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“Our discovery cost of approximately USD $7 per ounce (USD $5 million / 733,000 oz) underscores our efficient use of capital to generate shareholder value, especially compelling as gold prices reach record highs. In 2025, the focus is on surpassing the inferred two-million-ounce mark and driving continued resource growth through systematic exploration from 1,000 feet depth to surface,” commented John Florek, CEO.
Emperor Metals last traded at $0.225 on the CSE.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
