By spending $2 million on exploration and paying $300,000 cash, Santa Fe Canadian Mining will earn a half interest in Globex Mining’s (ME) Victoria gold project.
Situated in Clericy Twp., Que., the project is underlain by the Porcupine-Destor fault and numerous subsidiary faults. It hosts wide zones of gold mineralization associated with quartz-carbonate-fuchsite alteration. Santa Fe, a wholly owned subsidiary of Santa Fe Pacific (NYSE), is expected to start work on the project shortly.
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