Globex Mining Enterprises Inc has provided an update to shareholders on its 100% owned Cameron Lake gold property in Quebec.
The company said Abcourt Mines Inc recently revealed a maiden Mineral Resource Estimate (MRE) for its Flordin gold project, which directly adjoins the Cameron Lake property to the west, showing an estimated Measured & Indicated resource of 1,758,000 tonnes at an average grade of 2.38 grams per tonne (g/t) gold, and an Inferred resource of 570,000 tonnes at an average grade of 3.23 g/t gold.
Globex noted that historical drilling on the Cameron Lake property returned numerous intersections of significant gold values over a 700-metres (m) strike length and to a tested vertical depth of up to 300m.
The company added that the ‘Principal Zone’, which is the closest of the Cameron gold zones to the Abcourt/Globex boundary, has been tested by 70 holes, with drill results that included 17.83 g/t gold over 1.05m.
The Cameron Lake gold property consists of 30 cells totaling 1,280 hectares that straddle 6.5 kilometres of the Cameron Fault corridor, a gold localizing structure that is host to a number of gold deposits including the neighboring Flordin gold deposit, according to Globex.
Listed in Toronto, Frankfurt and on the OTCQX in the US, Globex Mining boasts a North American portfolio featuring mid-stage exploration, development, and royalty properties. These assets span precious metals, base metals, specialty metals, minerals, and industrial compounds.
Contact Sean at sean@proactiveinvestors.com