Globex Min­ing drills 7.34 m of 4.04 g/t Au at Fran­coeur

Stockwatch Daily - - MINES & METALS - Mr. Jack Stoch re­ports

GLOBEX MIN­ING En­ter­prises Inc. has pro­vided the re­sults from a 10-drill-hole pro­gram of short holes on its 100per-cen­towned Fran­coeur/ Arnt­field gold prop­erty lo­cated ap­prox­i­mately 18 kilo­me­tres west of Rouyn-No­randa, Que.

The drill pro­gram was de­signed so as to fol­low up upon the gold bear­ing shear south of the main shear (the Fran­coeur-Wasa shear). The shear termed the south shear was ex­posed by strip­ping. Chan­nel sam­pling re­turned up to 9.52 grams per tonne Au over a width of 7.1 m in­clud­ing 15.4 g/t Au over 4.1 m (see press re­lease dated Sept. 25, 2017) and 4.25 m g/t Au over 3.75 m.

Sub­se­quent strip­ping to the east ex­posed an ad­di­tional 15 me­tres of rock which re­vealed nu­mer­ous gold val­ues in chan­nel sam­ples in­clud­ing 4.31 g/t Au over 1.65 m be­fore pass­ing be­low over­bur­den.

Sev­eral holes were also po­si­tioned so as to also in­ter­sect the main shear which roughly par­al­lels the south shear.

Chan­nel sam­pling in an area stripped by Globex above hole FS 17-45 re­turned 8.07 g/t Au over two m be­fore go­ing un­der thick over­bur­den. An area stripped by Globex half­way be­tween holes FS-17-45 and FS-17-42 (114 m apart) re­turned 5.36 g/t Au over 4.2 m in chan­nel sam­ples and a nearby old trench re­turned grab sam­ple as­says of 9.53 g/t Au, 10.18 g/t Au, 10.15 g/t Au and 6.79 g/t Au.

The drilling and strip­ping pro­vided mixed re­sults and sug­gest that the ge­ol­ogy may be more com­plex than pre­vi­ously thought with abrupt changes in dip and pinch­ing and swelling. The south shear zone was in­ter­sected in all but three holes with vari­able widths and gold grades. The gold val­ues seem at first glance to be di­rectly as­so­ci­ated with the pyrite con­tent. More pyrite, more gold. The main shear in the area drilled and stripped is the sur­face ex­pres­sion of the Fran­coeur No. 1 zone, lit­tle of which has been mined.

Globex is merg­ing the new drill and sur­face sam­pling data with his­tor­i­cal data in or­der to bet­ter un­der­stand the strike, dip and plunge of the var­i­ous higher grade gold zones.

The cur­rent ex­plo­ration pro­gram only fo­cused on a very small por­tion of the prop­erty and a par­tic­u­lar tar­get. Much more work must be un­der­taken on these tar­gets to de­fine them to depth and along strike. The com­pany con­tin­ues to com­pile the vo­lu­mi­nous his­tor­i­cal data on mul­ti­ple gold zones and min­er­al­ized ar­eas.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Ian Atkin­son, Chris Bryan, Dianne Theresa Stoch, Jack Stoch, Johannes Hen­ri­cus Cor­nelis van Hoof, An­thony Viele

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