Globex Mining With Update On Mont Sorcier Iron Royalty Asset

GLOBEX MINING ENTERPRISES (GMX.TO) provided Tuesday an update as regards the Mont Sorcier iron deposit located in the Chibougamau area of Quebec.

Globex noted it retains a 1% Gross Metal Royalty on iron production from the property, and it reproduced some background details as announced by Cerrado Gold Inc. (CERT.V) in its 2026 Q1 report issued May 27, 2026.

"In Canada, at the company's Mont Sorcier High grade, 67%, Iron project, work continued on delivering a Bankable Feasibility study. The company expects to release the results of a Bankable Feasibility study by the end of Q2 2026, and it now anticipates submitting the Environmental and Social Impact Assessment in early Q1 2027. As a result, permits are now expected no earlier than around year end 2028, suggesting construction could commence around the end of Q1 2029 due to the winter season. We note that recent comments by policymakers indicate a desire to accelerate the permitting process; however, no clear timeline for how this will impact Mont Sorcier is available at this time."

GMX added: "The Mont Sorcier project is being designed as an 8 Mtpa concentrate operation, compared with 5 Mtpa in the PEA, to reflect strong demand for high-grade 67% iron concentrates with low silica and alumina suitable for the direct reduction iron (DRI) or pellet feed markets, the fastest growing segments of the iron ore market for which premium prices are expected. Development is expected to occur in two phases, with Phase 1 producing 4 Mtpa and a second 4 Mtpa expansion targeted approximately three years after start-up."

Globex said it awaits results of the feasibility study on the Mont Sorcier iron ore deposit. The increased throughput forecast by Cerrado will come in the second phase of construction, it added.

Shares in GMX were down $0.075 or 3.6% to $1.995 yesterday.

Emerita Resources Provides Drilling Results From Its La Infanta Deposit

Emerita Resources' (EMO.V) drill hole IN095 intercepted 7.2 meters (m) grading 1.0% copper, 4.0% lead, 7.5% zinc, 0.13 grams per tonne (g/t) gold and 83.32 g/t silver at its La Infanta deposit, it said on Tuesday.Drill hole IN093 intercepted 16.9m grading 0.2% copper, 1.5% lead, 1.9% zinc, 0.11 g/t gold and 9.29 g/t silver, including 4.8m grading 0.6% copper, 3.0% lead, 3.8% zinc, 0.12 g/t gold and 21.28 g/t silver, and exploration drill hole INN08 intercepted 2.8m grading 0.3% copper, 0.7% lead, 1.7% zinc, 0.31 g/t gold and 18.9 g/t silver in a deep test of the La Infanta deposit, it added."These results further demonstrate that mineralization at the IBW project has continued potential to expand in size and tonnage" said Emerita Resources President Joaquin Merino. "With the recent announcement of the Autorizacion Ambiental Unificada going into public hearings, the Company continues to advance the Project at all levels as we strengthen IBW both technically, environmentally, and with respect to its social license."The company has paused its drilling campaign for the summer season. Emerita is also evaluating all of its projects to generate the most prospective drilling targets with the recently renewed exploration permits for San Antonio and Nuevo Tintillo projects, and with the large amount of technical information collected by the company at IBW through continued drilling since 2021, it said.Shares of the company closed down 3.1% to $0.315 on Monday on the TSX Venture Exchange.

$EMO.V

Troilus Mining Receives Full Power Allocation from Hydro-Quebec and Ministry to Support Mine Construction and Operations

Troilus Mining (TLG.TO) Tuesday said that Hydro-Quebec and Quebec's Ministere de l'Economie, de l'Innovation et de l'Energie (MEIE) have approved the company's request for a 70 megawatts (MW) power allocation to support the development and operation of its copper-gold Troilus Project in north-central Quebec."The allocation represents a major project de-risking milestone and reinforces Troilus' strategic importance as one of Quebec's next large-scale critical minerals projects," said the company.The formal power request was submitted in early 2025, followed by continuous constructive engagement with Hydro-Quebec and key government stakeholders, it stated. With permitting, detailed engineering, and project financing advancing in parallel, the allocation ensures that sufficient power will be available to support development as planned, the company added.Access to Quebec's low-carbon hydroelectric grid is expected to be a "key contributor" to the project's long-term emissions reduction objectives and provides Troilus with access to reliable, competitively priced renewable energy, said the company, and added that power infrastructure, including 107 kilometers of 161kV high-tension powerlines are already in place and connected to a substation at the Troilus site."This confirmation from Hydro-Quebec and the MEIE marks a crucial milestone for Troilus that meaningfully advances the project's overall development readiness," said Justin Reid, CEO of Troilus. "Access to reliable hydroelectric power is a critical component of responsible mine development in Quebec, and this allocation reflects the advanced stage and broader strategic importance of the Troilus Project within the province's industrial and critical minerals landscape. Troilus is positioned to become a long-life project for Quebec - one capable of delivering meaningful economic benefits, supporting domestic copper supply, and contributing to long-term regional development in Northern Quebec. Securing this allocation further strengthens the foundation of the project and de-risks our path toward the next stage of development."

$TLG.TO

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