Globex Mining Enterprises Inc announced that Maple Gold Mines Ltd (TSX-V:MGM, OTCQB:MGMLF) has provided results from the final 20% of assays that were received from the previously-completed 14,720 metres (m) of drilling at the Eagle Mine property in Quebec, which is under option from Globex.
The minerals property bank said the results continue to demonstrate continuity of mineralization and the potential significance of the multiple horizons/splays to the northwest of the former Eagle mine.
Assay results included 6.2 grams per tonne (g/t) gold over 2m in the South Mine Horizon (SMH) as well as 4.2 g/t gold over 3.9m in sediments further downhole, according to the news release from Maple Gold Mines.
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Globex noted that Maple Gold’s drilling to date at Eagle has served to confirm that gold mineralization is not limited to a narrow stratigraphic interval (Eagle-Telbel Mine Horizon) but instead covers a significantly broader stratigraphic interval of over 100m straddling the Harricana Deformation Zone.
The company added that Maple Gold has initiated target definition and permitting work for a planned summer 2023 follow-up program at Eagle.
In 2021, Maple Gold signed an option agreement to acquire a 100% interest in the past-producing Eagle Mine property from Globex in exchange for C$1.2 million in cash and shares over a five-year period, as well as a commitment to incur C$1.2 million in exploration expenditures on the property over four years.
Globex will retain a 2.5% gross metal royalty on the property.
Globex Mining 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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