| April 21, 2022 – Rouyn-Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide the following update by Maple Gold released today on exploration drilling undertaken on the Eagle Gold Mine property under option from Globex and announced on July 19, 2021 (click to access Globex option press release). Phase one of eight drill holes has been completed and a phase 2 drilling program is being permitted. Assays are pending. Below is a direct extract from Maple’s press release.
“The Company completed 3D modelling, targeting and permitting and subsequently commenced a 4,200 m Phase I drill campaign (see news from January 17, 2022). The Phase I campaign (now complete) included eight (8) drillholes designed to test a possible secondary shoot of mineralization adjacent to the main shoot that was historically mined at Eagle starting in the 1970’s during a significantly lower gold price environment. An additional deeper hole (up to 960 m) is now being drilled and three additional deeper sites (up to 1,350 m) are currently being permitted (see Figure 1)
Initial drill core observations are encouraging, with multiple drillholes intersecting semi-massive-pyrite iron-carbonate (see Plate 1) as well as other styles of mineralization known to carry gold. The Company is sending Eagle samples to a new lab to expedite turnaround times.
Initial assay results from the Phase I program at Eagle are expected to be released in Q2/2022 and the Company is in the process of permitting sites corresponding to an additional ~4,000 m Phase II program that will include deeper drillholes (up to 1,400 m) to test the main mine trend at depth below the historical mine workings (see Figure 1).”
Figure 1: Oblique view of modeled mine trend at Eagle showing pierce points corresponding to completed drill holes from the Phase I program as well as target pierce points for Phase II. Click here to view an enhanced version of Figure 1
Plate 1: Semi-massive pyrite with iron-carbonate veinlets at 346.5 m downhole in drill hole EM-22-005 (#5 pierce point shown on Figure 1); mineralization extends from 346 to 363.5 m downhole. Assays are pending; NQ core (47.6mm diameter). Click here to view an enhanced version of Plate 1.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101. |
Maple Provides Drilling Update on Optioned Globex’s Eagle Mine Gold Property
