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Globex Mining Enterprises is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, zinc, silver, platinum, palladium, uranium, rare earth, nickel, magnesium and talc potential.
Globex reports up to 9.29% TREO in grab samples at Turner Falls in Quebec
Globex Mining Enterprises (TSE:GMX) reported Tuesday best results from its grab sampling program at its wholly-owned Turner Falls rare earths project in Quebec.
The Quebec-based company completed a mapping, geophysics, and limited stripping and sampling program on the property in the summer and fall seasons last year.
The program, which was intended to sample a historical rare earth showing indicated from government geological files, involved the assaying of 331 rock samples and 139 boulder samples.
Many of the samples returned high grades. The highest grade returned from a single sample found 9.29 percent total rare earth oxide (TREO).
Meanwhile, another single sample returned 1.32 percent heavy rare earth oxide (HREO) HREOs are rarer and more valuable than light REOs.
The Turner Falls property consists of 16 contiguous claims totaling 942-hectares and rests mainly in the Villedieu Township, Quebec.
"We are very pleased with the progress achieved to date and are now considering various alternative approaches to continuing the project including but not limited to a diamond drill campaign, stripping and trenching the mineralized trends, or joint venturing or optioning the project," Globex said in a statement.
Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.
In Toronto, Globex shares rose 15.2 percent to $1.44, as of 2:04 pm EDT.
