Emperor Metals Reports Impressive 2024 Assay Results, Unlocking Significant Gold Potential at Duquesne West

Rhea-AI Summary

Emperor Metals (EMAUF) has reported results from its 2024 drilling program at the Duquesne West Gold Project, completing 8,166 meters across 19 drill holes and approximately 8,000 meters of historical core assaying. Notable intersections include 43.9 m at 0.74 g/t Au in previously unsampled historical core and 2.5 m of 8.62 g/t Au in new drilling.

The company has received 100% of new drilling assays and 55% of total assays for the 2024 season, with all remaining results expected by mid-February. The program has successfully identified new zones with both high-grade and lower-grade potential for open-pit mining, expanding the deposit footprint up to 100m westward.

Emperor is targeting a multi-million-ounce resource, building upon its historical inferred resource of 727,000 ounces at 5.42 g/t Au. The company plans to deliver an updated Mineral Resource Estimate in Q1 or early Q2 of 2025, focusing on near-surface drilling for open-pit mining potential.

Positive

• Discovery of significant new gold mineralization: 43.9 m at 0.74 g/t Au and 2.5 m of 8.62 g/t Au
• Expansion of deposit footprint 100m westward
• Identification of new bulk tonnage zones suitable for open-pit mining
• Current historical resource of 727,000 ounces at 5.42 g/t Au with potential for expansion
• Updated Mineral Resource Estimate expected in Q1/Q2 2025

Negative

• Only 55% of total 2024 season assays have been finalized

Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) ("Emperor") is pleased to share the results from its 2024 drilling program, along with initial findings from its 2024 historical sampling program. The 2024 drilling program consisted of 8,166 meters across 19 drill holes, as well as approximately 8,000 meters of historical core assaying. To date, 100% of the new drilling assays have been reported; however, only 55% of the total assays for the 2024 season (including both new drilling and historical core resampling) have been finalized. All assays are expected to be completed by mid-February.

CEO John Florek commented:

"With intercepts like 43.9 m at 0.74 g/t Au (gold) in previously unsampled historical core and 2.5 m of 8.62 g/t Au, we are growing more confident in adding incremental ounces outside the known lenses. We are identifying new zones with both high-grade and lower-grade potential for open-pit mining, while also expanding these zones; critical for realizing our open-pit mining vision. We continue to extend the potential open-pit footprint, both at the margins and at depth."

Highlights: (see tables 1 and 2 for complete results)

• DQ24-18: Intersects 2.5 m of 8.62 g/t Au and 10.1 m of 0.5 g/t Au, expanding near-surface mineralization within the conceptual open-pit model.

• DQ24-19: Intersects 4.7 m of 1.4 g/t Au and 9 m of 1.3 g/t Au, extending mineralization 70 m North-East within the conceptual open-pit shell.

• DQ06-16 (Historical core): Adds 43.9 m of 0.74 g/t Au, including 17 m of 1.23 g/t Au and 9 m of 2.0 g/t Au, expanding mineralization westward in the Nip zone with minimal prior drilling.

• DQ95-29 (Historical core): Adds 8.63 m of 1.26 g/t Au, expanding the deposit footprint 100 m westward into the hanging wall.

• DQ06-01 (Historical core): Adds 7.25 m of 1.22 g/t Au, creating a new mineralized zone downhole within the current conceptual open-pit model, previously overlooked.

• DO-10-12 (Historical core): Adds 15.05 m of 0.9 g/t Au, expanding the original zone near-surface within the open-pit model.

Ongoing exploration efforts continue to demonstrate significant potential for resource expansion both within and along strike of the conceptual open pit. This includes the discovery of previously unrecognized low-grade bulk tonnage zones, as well as high-grade gold lenses containing visible gold.

These findings are expected to make a significant contribution to the upcoming Q1 mineral resource estimate.

A total of 55% of the assays for the 2024 season have been reported to date. By focusing on near-surface drilling for open-pit mining, Emperor aims to economically expand its resource base by including lower grades in the conceptual open-pit environment compared to higher grades in an underground mining scenario. Deposits in the region with currently active open pits have been economic at grades equal 0.30 g/t Au (see Agnico Eagles press release dated Feb 15, 2024 - Detour Lake Deposit cut-off grade, pg. 52.)

Emperor is targeting a multi-million-ounce resource, utilizing a combination of conceptual open-pit and underground mining scenarios. The Property currently hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au. Emperor is committed to delivering an updated Mineral Resource Estimate in Q1 or Early Q2 of 2025.

Figure 1: Location of DQ24-17 to DQ24-19 drill holes and reported results from previously unsampled historical core.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/240359_17fde31bb4ecca5d_002full.jpg

Drillhole Discussion:

The 2024 drilling continues to validate low-grade bulk-tonnage and high-grade mineralization inside and external to the conceptual open-pit concept. In addition, the latest results from the historical sampling program have expanded zones of mineralization that were not identified in the historical core prior to Emperor Metals acquiring the property, adding incremental ounces to the deposit.

DQ24-18

Drillhole DQ24-18 intersected a significant zone of near-surface, high-grade gold mineralization within a mafic flow, featuring quartz-calcite veining, sericite stringers, and up to 1% pyrite mineralization associated with the veins.

DQ24-19

Drillhole DQ24-19 intersected multiple mineralized zones, including 4.7 m of 1.4 g/t Au in a mafic flow with chloritization, silicification, hematization, and 1-2% fine-grained pyrite. A lower intersection of 9 m of 1.3 g/t Au is located at the margins of a QFP and ultramafic unit, showing strong silicification, sericite stringers, and up to 3% fine-grained disseminated pyrite.

DQ06-16 (Historical core)

Historical core sampling of DQ06-16 identified a significant mineralized zone of 43.9 m at 0.74 g/t Au, which was previously overlooked by other companies. The zone is located in a Quartz Felspar Porphyry, featuring 2% pyrite mineralization, quartz-carbonate veins, and sericite alteration. This previously unsampled drillhole intercept highlights the value of assaying unsampled historical core, which is expected to positively impact the economics of the deposit.

DQ95-29 (Historical core)

Historical core sampling revealed a new interval, previously unsampled, with 8.63 m of 1.26 g/t Au. The zone consists of a weakly hematized mafic flow with small brecciated intervals, quartz-carbonate veining, and up to 1% pyrite.

DQ06-01 (Historical core)

Another significant new interval, previously unsampled, returned 7.25 m of 1.22 g/t Au, including 1.2 m of 6.85 g/t Au. The zone is located in a massive fine-grained mafic flow with carbonate stringers and up to 3% disseminated pyrite.

DO-10-12 (Historical core)

The project continues to add bulk tonnage to the conceptual open-pit model with the addition of 15.05 m of 0.9 g/t Au. This section is located within a shear zone containing a massive diorite, surrounded by andesitic and felsic rocks. The shear zone hosts approximately 2-3% pyrite, with local quartz-carbonate veinlets.

Strategic Plan

The 2024 drilling campaign at Emperor's Duquesne West Gold Project in Quebec continues to identify extensive low-grade bulk tonnage zones surrounding the previously known high grade areas. These latest results further solidify the project's immense potential and underscore the company's commitment to unlocking substantial value for its shareholders.

The 2024 season leverages advanced exploration techniques to test several scenarios to add ounces and/or expand the footprint:

1. Explore Lower Grade Discoveries: Target additional discoveries within the host rock containing high-grade gold lenses, focusing on the conceptual open-pit model.

2. Increase the Thickness of the High-Grade Lenses: Incorporate previously unaccounted lower-grade gold from the margins of high-grade lenses to enhance their overall thickness.

3. Expand Mineralized Zones: Extend the lateral footprint of mineralized zones along strike and dip.

4. Discover New Zones: Explore potential new zones not yet included in the conceptual open-pit model, with a particular focus on eastward expansion.

These latest results continue to build on the strong momentum generated by last year's drilling program and confirm the presences of extensive low grade bulk tonnage zones surrounding the known high-grade regions.

Table 1 - Intercept Highlights- Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-171	8.7	9.7	1	0.34
Note1	9.7	10.7	1	0.005
	10.7	11.7	1	0.11
	11.7	12.7	1	1.27
	12.7	13.7	1	0.74
	13.7	14.7	1	0.17
	14.7	15.7	1	0.01
	15.7	16.7	1	0.28
	16.7	17.7	1	0.06
	17.7	18.7	1	0.28
		Wt. Avg.	10	0.3
DQ24-171	27.7	28.7	1	0.34
	28.7	29.7	1	0.34
	29.7	30.7	1	0.42
	30.7	31.7	1	0.18
	31.7	32.7	1	0.33
		Wt. Avg.	5	0.3
DQ24-171	53.2	54.2	1	0.94
DQ24-171	112.6	113.6	1	0.58
	113.6	114.6	1	0.42
		Wt. Avg.	2	0.5
DQ24-171	150.6	151.6	1	0.22
	151.6	152.6	1	0.29
	152.6	153.6	1	0.11
	153.6	154.6	1	0.68
	154.6	155.6	1	0.59
	155.6	156.6	1	0.27
	156.6	157.6	1	0.16
	157.6	158.6	1	0.28
	158.6	159.6	1	0.22
	159.6	160.6	1	0.28
		Wt. Avg.	10	0.3
Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-181	18.3	19.8	1.5	2.1
Note1	19.8	20.9	1.1	0.005
Note1	20.9	23.4	2.5	0.005
Note1	23.4	25.9	2.5	0.005
	25.9	28.4	2.5	0.86
		Wt. Avg.	10.1	0.5
DQ24-181	65.8	68.3	2.5	8.62
DQ24-181	108.4	109.4	1	2.85
Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-191	75.3	77.2	1.9	0.16
	77.2	78.2	1	0.005
	78.2	79.2	1	0.63
	79.2	80.2	1	0.8
		Wt. Avg.	4.9	0.4
DQ24-191	94.5	95.8	1.3	0.66
	95.8	98.3	2.5	0.09
	98.3	100.8	2.5	0.06
	100.8	103.3	2.5	0.08
	103.3	105.8	2.5	0.8
		Wt. Avg.	11.3	0.3
DQ24-191	182.3	183.3	1	0.13
	183.3	184.3	1	0.28
	184.3	185.3	1	0.05
	185.3	187	1.7	3.61
		Wt. Avg.	4.7	1.4
DQ24-191	265.7	266.7	1	0.23
	266.7	267.7	1	8.86
	267.7	268.7	1	0.14
	268.7	269.7	1	0.5
	269.7	270.7	1	0.08
	270.7	271.7	1	0.24
	271.7	272.7	1	0.02
	272.7	273.7	1	1.29
	273.7	274.7	1	0.2
		Wt. Avg.	9	1.3
DQ24-191	284.7	285.7	1	0.65
	285.7	286.7	1	0.28
		Wt. Avg.	2	0.5
DQ24-191	302.7	303.7	1	0.41
	303.7	304.7	1	0.01
	304.7	305.7	1	0.43
	305.7	306.7	1	0.38
	306.7	307.7	1	0.01
	307.7	308.7	1	0.94
	308.7	309.7	1	0.06
	309.7	310.7	1	0.46
	310.7	311.7	1	0.08
	311.7	312.7	1	0.04
	312.7	313.7	1	0.04
	313.7	314.7	1	0.05
	314.7	315.7	1	0.96
		Wt. Avg.	13	0.3

 

¹Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.
²Value reported below detection limit of <0.01. Value was numerically halved to assign a real number.

Table 2 - Historical core sampling Highlights- Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%. Yellow highlighted tags represent 2024 historical core sampling previously not sampled.

Hole No.	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ06-161	D00296405	256.1	257.05	0.95	2.88
	D00296406	257.05	258	0.95	0.005
	D00296407	258	259	1	0.04
	D00296408	259	260	1	0.31
	D00296409	260	261	1	0.13
	D00296411	261	262	1	0.005
	D00296412	262	263	1	0.005
	84175	263	264	1	2.57
	D00296413	264	265	1	4.84
	D00296414	265	266	1	0.70
	D00296415	266	267	1	1.41
	D00296416	267	268	1	2.03
	D00296417	268	269	1	3.43
	D00296418	269	270	1	0.77
	84176	270	271	1	0.37
	84177	271	272	1	1.92
	84178	272	273	1	0.15
	D00296419	273	274	1	0.05
	D00296421	274	275	1	0.26
	D00296422	275	276	1	0.09
	D00296423	276	277	1	0.44
	D00296425	277	278	1	0.05
	D00296426	278	279	1	0.01
	84179	279	280	1	1.87
	84180	280	281	1	0.20
	D00296427	281	282	1	0.07
	D00296428	282	283	1	0.01
	D00296429	283	284	1	0.005
	D00296431	284	285	1	0.04
	D00296432	285	286	1	0.005
	D00296433	286	287	1	1.95
	D00296434	287	288	1	1.13
	D00296435	288	289	1	0.82
	D00296436	289	290	1	0.46
	D00296437	290	291	1	0.01
	D00296438	291	292	1	0.005
	D00296439	292	293	1	0.005
	D00296441	293	294	1	0.40
	D00296442	294	295	1	0.005
	D00296443	295	296	1	0.12
	D00296444	296	297	1	0.005
	D00296445	297	298	1	0.02
	D00296446	298	299	1	1.82
	D00296447	299	300	1	1.09
			Wt. Avg.	43.9	0.74
		Including (263-290m)		27	0.95
		Including (263-280m)		17	1.23
		Including (263-272m)		9	2.00
Hole No.	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ95-291	D00295713	420	421.2	1.2	7.62
	D00295714	421.2	422.4	1.2	0.02
	D00295715	422.4	423.6	1.2	0.04
	D00295716	423.6	424.8	1.2	0.005
	D00295717	424.8	426	1.2	0.005
	6502	426	426.75	0.75	0.02
	5905	426.75	428.63	1.88	0.89
			Wt. Avg.	8.63	1.26
		Including (420-421.2m)		1.2	7.62
Hole No.	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ06-011	D00287734	397.55	398.55	1	0.10
	D00287735	398.55	399.55	1	0.19
	62680	399.55	400.15	0.6	0.15
	D00287736	400.15	401.4	1.25	0.05
	D00287737	401.4	402.6	1.2	0.03
	D00287738	402.6	403.8	1.2	6.85
	62681	403.8	404.8	1	0.17
			Wt. Avg.	7.25	1.22
		Including (402.6-403.8m)		1.2	6.85
Hole No.	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t Au)
DO-10-121	47003	70.95	71.65	0.7	14.13
	47004	71.65	72.85	1.2	0.067
	47005	72.85	74.05	1.2	0.018
	47006	74.05	75.2	1.15	0.089
	47008	75.2	76.2	1	0.02
	D00285086	76.2	77.6	1.4	0.05
	D00285087	77.6	79	1.4	0.17
	D00285088	79	80	1	0.38
	D00285089	80	81	1	0.69
	D00285091	81	82	1	0.74
	D00285092	82	83	1	0.76
	D00285093	83	84	1	0.28
	D00285094	84	85	1	0.2
	D00285095	85	86	1	0.12
			Wt. Avg.	15.05	0.90

 

¹Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.

Quality Assurance and Control

The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.

Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Sudbury laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QA/QC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda.

The third-party laboratory, SGS prep laboratory in Sudbury Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.

Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au - ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million ("ppm"). High grade gold analysis based on the presence of visible gold or a fire assay result exceeding 100 ppm, are analyzed by Au - metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.

About the Duquesne West Gold Project

The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet, Quebec, Canada. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Under an Option Agreement, Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the "Duquesne West Property") from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. For further information on the Duquesne West Property and Option Agreement, see Emperor's press release dated Oct. 12, 2022, available on SEDAR.The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au^1,2. The mineral resource estimate predates modern Canadian Institute of Mining and Metallurgy ("CIM") guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

A reinterpretation of the existing geological model was created using AI and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold- endowed structural zones.

Multiple scenarios exist to expand additional resources which include:

1. Underground High-Grade Gold.
2. Open Pit Bulk Tonnage Gold.
3. Underground Bulk Tonnage Gold.

QP Disclosure

The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.

About Emperor Metals Inc.

Emperor Metals Inc. is a high-grade gold exploration and development junior mining company focused on Quebec's Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. The company is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district.

The company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company's profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ "John Florek"                                   
John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.

Contact:
John Florek
President/CEO
T: (807) 228-3531

Alex Horsley
Director
T: (778) 323-3058
E: alexh@emperormetals.com
W: www.emperormetals.com

The Canadian Securities Exchange has not approved nor disapproved the content of this press release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that the actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates," "believes," "targets," "estimates," "plans," "expects," "may," "will," "could" or "would."

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

---

¹ Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct. 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada, for XMet Inc.

² Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent CIM standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240359

FAQ

What are the key findings from Emperor Metals' (EMAUF) 2024 drilling program at Duquesne West?

The 2024 drilling program revealed significant intersections including 43.9 m at 0.74 g/t Au in historical core and 2.5 m of 8.62 g/t Au in new drilling, expanding the deposit footprint and identifying new zones for potential open-pit mining.

When will Emperor Metals (EMAUF) release its updated Mineral Resource Estimate for Duquesne West?

Emperor Metals plans to deliver an updated Mineral Resource Estimate in Q1 or early Q2 of 2025.

What is the current historical resource estimate for Emperor Metals' (EMAUF) Duquesne West project?

The property currently hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.

How much drilling has Emperor Metals (EMAUF) completed in its 2024 program?

Emperor Metals completed 8,166 meters across 19 drill holes and approximately 8,000 meters of historical core assaying in its 2024 program.

What percentage of Emperor Metals' (EMAUF) 2024 drilling assays have been reported?

100% of new drilling assays have been reported, but only 55% of the total assays for the 2024 season (including both new drilling and historical core resampling) have been finalized.