Globex heads to Honduras

Playing against type, Abitibi explorer Globex Mining Enterprises (GMX-T) has staked a property covering a series of gold showings in the southern department of Valle in Honduras.

The property covers a 7-km strike length of a structural feature controlling a series of showings where previous grab samples have returned up to 20 grams gold per tonne.

The main prospect is the El Transito gold deposit, which has been drilled, trenched and sampled from an adit. A 1997 estimate gave it an inferred resource of 618,500 tonnes with 5.7 grams gold and 27 grams silver per tonne. The estimate used cutoff grades of 3 grams gold and 15 grams silver per tonne, and considered only 2-metre widths and larger.

The department of Valle is centred 65 km southwest of the national capital, Tegucigalpa, on the country’s Pacific shoreline (the Gulf of Fonseca) between El Salvador and Nicaragua. The property itself is near the Pan American Highway and has nearby access to the national power grid.