Emperor Metals Reports 1.46 Million Oz Gold Resource Quebec

Emperor Metals has announced its maiden Mineral Resource Estimate for the Duquesne West Gold Project in Quebec, revealing an inferred resource of 1.46 million ounces of gold at an average grade of 1.69 g/t within 26.9 million tonnes of material. This represents a more than 104% increase over the historical resource of 727,000 ounces, with roughly 44% of the resource suitable for open-pit mining and 56% for underground extraction. The company highlighted a low discovery cost of approximately USD $7 per ounce, reflecting efficient capital use especially amid high gold prices. A summer drilling program of 8,000 to 10,000 meters is planned to further expand the resource, with ambitions to surpass two million ounces. The deposit features multiple high-grade zones within a broader lower-grade bulk tonnage envelope, and several underexplored zones offer strong potential for resource expansion and grade improvement. Despite technical momentum, Emperor Metals faces financial challenges including negative cash flows and lack of profitability, which it must address to fully leverage its exploration successes.