Aurogin, Globex plan program

Rouyn-Noranda-based Globex Mining Enterprises (GMX-T) and its new joint-venture partner, Aurogin Resources (AUQ-V), will explore a large land package in northwestern Quebec.

The 40-sq.-km property, in Rouyn and Beauchastel twps., covers a 5.5-km strike length of the Cadillac-Larder Lake break, the long fault structure on which most of the gold mines of the Kirkland Lake, Rouyn and Val d’Or camps are situated. A rhyolite sequence covers a 10-by-1.5-km area on the property, and Globex believes this may be the stratigraphic equivalent of the volcanic sequence that hosts the Horne and Quemont mines.

By performing an airborne electromagnetic survey over the property, then selecting areas of interest and spending a minimum of $50,000 on each target, Aurogin can earn a 35% stake in each of its areas of interest. Under the agreement, Aurogin must make its target selections within 90 days of finishing the geophysical survey, and must complete the follow-up exploration work 180 days after that. Golden Briar Mines (glb-m) holds a 1% net smelter return royalty on part of the Globex ground, which Globex can buy out for $500,000.

Aurogin holds an exclusive right to use of Aerotem, a time-domain electromagnetic system flown from a helicopter platform. It uses a “doughnut” coil geometry — its receiving coil is concentric with its transmitter coil — to reduce noise. The system can detect massive sulphide conductors at depths of over 200 metres and is sensitive to electromagnetically induced polarization effects in disseminated mineralization.