Globex Mining Enterprises Inc said Monday that the Nordeau West gold property, in which the company holds a 3% gross metal royalty (GMR), was the subject of a promising preliminary economic assessment (PEA).
The project’s operator, Cartier Resources Inc, announced the PEA on April 13. It revealed indicated resources of 512,000 metric tonnes at 2.19 grams per tonne (g/t) of gold in the central corridor; along with inferred resources of 3 million metric tonnes at 2.6 g/t in the central corridor and 151,000 at 3.5 g/t in the north corridor.
The estimate was made using a database of 154 drill holes totaling 55,097 meters, as of July 12, 2022.
In a statement, Cartier indicated that the Nordeau West Gold Deposit is expected to produce 14% of its total ounces, which would total 15 metric tonnes of mineable minable mineralized material.
The property could also be increased, the company noted, as Nordeau West is just one part of a larger package of land on which Globex holds a 3% GMR.
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