Source: Emperor Metals

Emperor Metals (CSE:AUOZ) has announced the successful deployment of a drill rig at the Duquesne West Gold Project in Quebec, marking the commencement of its 2024 exploration program. The 8,000-meter drill program, scheduled to begin by mid-May, aims to build upon the findings of the company’s initial 2023 drill campaign.

CEO John Florek commented in a press release“We are resuming drilling at the Duquesne West Gold Project and continuing our successful 2024. 2023 was a transformative year for the company with the revelation of a significant open pit concept above a high-grade gold deposit. This gives Emperor the ability to add ounces more rapidly on this project due to the capability of adding potentially open pitable mineralization above the high-grade historical resource. Emperor is well funded with approximately $4 million in working capital and will advance the Duquesne West Project towards an updated mineral resource. 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.”

2024 Exploration Program Focus

The 2024 program will primarily focus on enhancing the economic viability of open-pit mining at the Duquesne West project. This will involve several key strategies:

  • Extending High-Grade Zones: The company will seek to expand the known high-grade gold lenses both within and outside the conceptual open-pit areas.
  • Increasing Ounce Count: Efforts will be made to increase the overall gold ounce count within and adjacent to the open-pit areas, encompassing both high-grade and lower-grade mineralization.
  • Defining Bulk-Tonnage Potential: Emperor Metals will investigate the potential for lower-grade, bulk-tonnage gold mineralization within the host rock of the open-pit shell, which could significantly improve the project’s economics by reducing stripping ratios.
  • Leveraging AI: The company will utilize advanced artificial intelligence (AI) models, informed by the results of the 2023 drilling, to guide targeting decisions for the 2024 drill season.

Historical Core Sampling

In addition to the new drilling, Emperor Metals plans to re-assay approximately 8,000 meters of near-surface core from the historical core library. This core, up to 70% of which has not been previously assayed within the open-pit conceptual model, could potentially reveal additional lower-grade gold mineralization.

In 2023, Emperor Metals employed AI to develop the first 3D mineralized and geological model for the Duquesne West project. This model highlighted the potential for significant additions to the gold resource. The company’s subsequent 2023 drill campaign, totaling 8,579 meters, yielded promising results, including high-grade intercepts such as 15.8 g/t Au over 10.85 m (DQ23-05) and lower-grade bulk-tonnage intercepts like 1.69 g/t Au over 25 m (DQ23-02). These findings led to the development of the open-pit concept and the recognition of the potential for a substantial open-pit resource overlying the existing high-grade gold deposit.

Emperor Metals is well-positioned to continue advancing the Duquesne West Gold Project. The company is well-funded and committed to delivering an updated mineral resource estimate by Q1 2025. The 2024 exploration program represents a critical step in this process, with the potential to significantly enhance the project’s overall value.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Athena Resources Ltd. AHN.AX +22.22%
 Adavale Resources Limited ADD.AX +22.22%
 Azimut Exploration Inc. AZM.V +21.98%
 New Stratus Energy Inc. NSE.V +21.05%
 Dynasty Gold Corp. DYG.V +18.42%
 Azincourt Energy Corp. AAZ.V +18.18%
 Gladiator Resources Limited GLA.AX +17.65%