Good values found at Globex property

Globex Mining (ME) of Rouyn- Noranda recently announced some significant gold values at its Duquesne West property in Duparquet and Destor twps. in Quebec.

While analyzing some old drill core the company said it has discovered a previously unreported 5- ft intersection which assayed at 1.81 oz gold per ton.

The intersection was pulled from a hole in the south east portion of the property near where Societe Miniere Louvem (TSE), which held the 18-claim property in the 1970s, reported 5.5 oz gold per ton over 1.9 ft. According to records, 8 ft of 0.45 oz was also encountered by another operator in the immediate vicinity of the Globex intersection.

So far, work on the Globex claims has included mapping sampling, induced polarization and horizontal electromagnetic and magnetometer surveys.

In Nevada, Globex and partner Fairfield Explorations are awaiting the results of leach tests on their placer gold property which adjoins Hycroft Resources’ Lewis mine.

Globex says it is hoping to establish a short term revenue base from future heap leach operations to finance exploration on its other properties.

At a heap leach silver operation near Austin, the partners say assay results averaging 1.74 oz silver per ton would have been sufficient to warrant a production decision if tests had proven positive. But after 30% recovery levels were achieved, the property has been placed on the back burner.