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Globex Mining Enterprises Announces Update on Its Eagle Mine Gold Property

Globex Mining Enterprises Inc. has provided an update on exploration drilling conducted on the Eagle Gold Mine property under Globex’s option, which was announced on July 19th, 2021. A phase one drilling program consisting of eight drill holes has been accomplished, and a phase two drilling program has been approved. The results of the tests are still pending.

Globex Mining Enterprises Announces Update on Its Eagle Mine Gold Property.
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. Image Credit: Globex Mining Enterprises Inc.

The following is an extract from Maple’s news release.

Following completion of 3D modeling, targeting, and permits, the Company began a 4,200 m Phase I drill program. The Phase I campaign (which is now finished) consisted of 8 drill holes aimed to investigate a probable secondary shoot of mineralization parallel to the primary shoot that was traditionally mined at Eagle beginning in the 1970s when gold prices were much lower.

A further deeper hole (up to 960 m) is presently being explored, as well as three other deeper sites (up to 1,350 m) as shown in Figure 1.

Multiple drill holes intersected semi-massive-pyrite iron-carbonate, as well as other types of mineralization known to transport gold. To reduce turnaround times, the company is transferring Eagle samples to a different lab.

Preliminary test results from Eagle’s Phase I program are anticipated in Q2/2022, and the company is in the process of acquiring permits for a 4,000-meter Phase II program that will include deeper drill holes (up to 1,400 meters) to assess the major mine trend at depth underneath the historical mine workings (as shown in Figure 1).”

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