Proactive Investors - Run By Investors For Investors

Globex Mining says drilling kicks off at Bateman Bay property in Quebec

Chibougamau Independent Mines has received its drill permit for the C-3 copper/gold zone in Quebec
Chibougamau
Globex holds a 3% gross metal royalty on the property, located in Quebec

Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) and Chibougamau Independent Mines Inc (CVE:CBG) released promising news Wednesday announcing Chibougamau Independent Mines has received its drill permit for the C-3 copper/gold zone in Quebec. 

Drilling has kicked off at the property, and Chibougamau is planning around 3,400 metres of drilling at the wholly owned C-3 copper/gold zone in Quebec.

C-3 is part of the Bateman Bay property. Globex, an exploration, royalty and property bank, holds a 3% Gross Metal Royalty (GMR) on the Bateman Bay and Grandroy Mine properties. Its assets include over 40 former mines.

READ: Globex Mining Enterprises shares nudge up as more drilling is expected at Quebec property

The other month, Chibougamau announced intersections from two holes, which showed 4.33% copper, 3.69 g/t gold and 19.62 g/t silver, over a 22 metre core length.

The other hit 7.70% copper, 3.58 g/t gold and 33.25 g/t silver, over a 9.2 metre core length.

Combined with previous Chibougamau drilling, the C-3 Zone has been intersected from surface to a  depth of 450 metres.

Globex Mining shares added nearly 3% today in Toronto  to $0.37.

Contact Katie Lewis at [email protected]

View full GMX profile View Profile

Globex Mining Timeline

Related Articles

Underground mine
March 28 2019
This exploration, royalty and property bank and boasts no less than 168 assets
1520338767_shutterstock_130308137.jpg
October 11 2018
Viscount Mining is sitting on two highly prospective gold projects in the USA
The Tran-Siberian railway
May 14 2019
The miner is advancing the Sergeevskoe gold project in the Mogocha district of the Zabaikal’skiy region
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use