Globex Mining Enterprises Inc. (TSX:GMX, OTCQX:GLBXF) has provided shareholders with an update on drilling by Orford Mining (TSX-V:ORM), including the first drill results from two holes of the 10-hole drill program on the large Joutel Eagle property under option from Globex.
The Quebec-based mineral property bank noted that the drill holes focused on the South Gold Zone, with hole 23-JE-004 intersecting 4.1 grams per ton (g/t) gold over 14.6 metres (m), including 28.7 g/t gold over 0.32m. Hole 23-JE-005 intersected 1.5 g/t gold over 8.3m, including 4.6 g/t gold over 0.9m.
“These early results from our second drill program have returned results that are extremely encouraging,” Orford CEO David Christie said in a statement. “The South Gold zone was known as a thick low-grade zone with good potential but is now proven to have a much higher-grade component. We look forward to completing the planned drill program designed to test the strike extent of the South Gold Zone on the Joutel Eagle property.”
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Christie said the reported results are for samples that were sent for analysis on “rush” and all other remaining assays are outstanding and drilling is ongoing.
“Interpretation of the historical and present South Gold Zone drill results is ongoing and will be completed once all assays from the 2023 drill program have been received,” he added.
Globex said it is “very pleased” by Orford’s progress on the Joutel Eagle Property and looks forward to results from the continuing drill program.
The entire Orford press release may be accessed here.
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.
Contact the author at stephen.gunnion@proactiveinvestors.com