Globex Mining Enterprises Inc. (TSX:GMX, OTCQX:GLBXF) said that its partner Kiboko Gold has drilled multiple high-grade intervals at the Main Fontana Gold Zone at the Harricana gold project in Quebec.
Globex maintains a 2% net smelter royalty (NSR), 1% NSR of which may be purchased for $2 million prior to commercial production, on the royalty, which covers 105 claims and cells totalling 4,147 hectares.
The assay results are from 26 holes totalling 3,449 metres (m) which are part of an ongoing 11,000 m, 67-hole verification program in the Main Fontana gold zone.
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Highlights included an intercept of 8.7 grams per ton (g/t) of gold over 9 m, including 22.2 g/t gold over 3 m, and 23.9 g/t gold over 3 m, including 35.4 g/t gold over 2 m.
A number of other lower-grade intersections were also reported upon with Kiboko intending to undertake further evaluation, Globex said.
Drill results are pending upon an additional 31 holes, the company added.
Globex is a Toronto Stock Exchange, Frankfurt and OTCQX-listed corporation with a diversified North American portfolio of mid-stage exploration, development and royalty properties containing precious metals, base metals, specialty metals and minerals, and industrial minerals and compounds.
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