Globex Mining Enterprises Inc. takes great pleasure in announcing shareholders that it has obtained 100% interest in the Standard Gold Property free and clear of any and all possible obligations, hindrances or liabilities in exchange for 160,000 Globex common shares, conditional on the standard four-month hold period.
This property is located in Duverny Township, Quebec (NTS 32C12).
The Standard Gold property has been investigated by several drill programs specifically in the area of the 389 m (1,275 ft) deep shaft from which several small bulk samples have been mined. Drifting took place on eight levels and added up to over 2,430 m (8,000 ft).
Intersections of 22.3 g/t Au over 2 m, 7.9 g/t Au over 1.5 m, 90.3 g/t Au over 1.5 m, 19.05 g/t Au over 1 m, 7.06 g/t Au over 1 m, and 7.05 g/t Au over 8 m have been found, in addition to several narrow gold intersections, such as 15.3 g/t Au over 0.5 m, 19.2 g/t Au over 0.2 m, 39.9 g/t Au over 0.4 m, 4.8 g/t Au over 0.9 m, 10.3 g/t Au over 0.6 m, 122.8 g/t Au over 0.4 m, 7.5 g/t Au over 0.9 m, 38.7 g/t Au over 0.5 m, and 110.4 g/t Au over 0.2 m to name a few.
Drilling conducted in 1983 determined the presence of gold mineralization beneath the shaft and drifts to a vertical depth of 610 m (2,000 ft). Several historical resource calculations have been carried out over the years incorporating diamond drill intersections with underground chip sampling and several small bulk samples. The outcomes are available in Quebec government files in the Sigeom data system.
Mineralization includes native gold related to sphalerite, pyrite, and chalcopyrite disseminated in quartz veins within a linear body of diorite within volcanic rocks. The majority of the gold localizing linear diorite body is not investigated properly.