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Globex Mining broadens footprint at Joutel mine in Quebec

The company said it was expanding its reach at its Joutel gold and base metal mining camp in Quebec
map of joutel mining camp
Globex owns three former mines in Joutel mining camp (starred) and has acquired additional mineral rights

Globex Mining Enterprises Inc (CVE:GMX) (OTCQX:GLBXF) released promising news Wednesday that it was extending its reach, having acquired additional mineral rights in the Joutel gold and base metal mining camp of Quebec.

The Quebec-based company already owns three former mines in the Joutel mining camp; the Poirier mine, the Joutel mine – both copper/zinc – and the gold-focused Eagle Mine. All three former mines have historical resources and underground access via shafts and drifts.

Globex has amassed a portfolio of more than 160 properties, including more than 40 former mines. It has a diversified North American portfolio of mid-stage exploration, development and royalty properties.

WATCH: Globex Mining uses a unique and successful model to find and monetize new projects

The company said it acquired more than 10 km of the Eagle Mine horizon, including the entire strike length.

According to a release by the company, "the claims have seen historical exploration including drilling. The drilling defined the underlying mine horizon of interest over the entire acquired property. Numerous gold intersections are reported or indicated."

It added that while many older drill records reported prospective geology, such as quartz veins, sulphides, and alteration, little or no assaying was completed. 

The company intends to compile the historical data and seek an option partner or buyer for the prospective Joutel Mining Camp package.

Drilling at Francoeur/Arntfield gold mines property to start

The company also said drilling is expected to start on its 100%-owned Francoeur/Arntfield Gold Mines property next week. 

The company said it would be targeting the South and 450 gold zones.

Shares of Globex were up 1.7% at C$0.30 on Wednesday. 

Contact Katie Lewis at [email protected]

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