Posted in | News | Manganese

Globex to Move Two Drills onto Timmins Talc Magnesite Property

GLOBEX MINING ENTERPRISES INC. is pleased to inform shareholders that two drills will be moving onto the Timmins talc magnesite property today.

The objective of the drill program, which consists of approximately 46 drill holes totaling 7,000 meters is twofold. First, the majority of the holes will be undertaken as infill holes in order to elevate the first twenty years of potential resource to minable reserve. For details, please refer to the Preliminary Economic Assessment (PEA) outlined in a press release dated March 2, 2012 and the NI 43-101 Resource Report, published in a press release dated March 2, 2010.

The PEA by Micon International Limited and Jacobs Minerals Canada Inc., based upon an initial 20 year period envisions mining and treating 500,000 tonnes of ore per year with total projected Gross Sales of $2.6.billion dollars and an after tax IRR of 20%.

In order to advance the project to the Preliminary Feasibility Study (PFS) stage, Globex is now undertaking infill and geotechnical drilling in order to upgrade the first 20 year resource to a 20 year reserve which will be reported in a new NI 43-101 report.

The drill core recovered will be logged, split and assayed after which QEMSCAN mineralogical studies will be undertaken as well as variability testing. Independently of this work, Globex has undertaken a series of larger scale tests in order to further improve recovery costs and product purity.

Globex is pleased to be taking this next major step toward becoming a major supplier of high quality talc and magnesia to the North American market.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Globex Mining Enterprises Inc.. (2019, February 18). Globex to Move Two Drills onto Timmins Talc Magnesite Property. AZoMining. Retrieved on December 14, 2024 from https://www.azomining.com/News.aspx?newsID=7497.

  • MLA

    Globex Mining Enterprises Inc.. "Globex to Move Two Drills onto Timmins Talc Magnesite Property". AZoMining. 14 December 2024. <https://www.azomining.com/News.aspx?newsID=7497>.

  • Chicago

    Globex Mining Enterprises Inc.. "Globex to Move Two Drills onto Timmins Talc Magnesite Property". AZoMining. https://www.azomining.com/News.aspx?newsID=7497. (accessed December 14, 2024).

  • Harvard

    Globex Mining Enterprises Inc.. 2019. Globex to Move Two Drills onto Timmins Talc Magnesite Property. AZoMining, viewed 14 December 2024, https://www.azomining.com/News.aspx?newsID=7497.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.