Globex Mining Enterprises Inc (TSE:GMX) (OTCQX:GLBXF), the mineral property bank, told investors on Thursday that it has consolidated its Silidor and New Marlon gold mine assets in Quebec.
The group has now acquired the final claim covering the southern half of the New Marlon property, which lies northwest and adjoining the town of Rouyn-Noranda, the company said in a statement. This, along with Globex's previously held claims, consolidates the two assets.
READ: Globex Mining Enterprises completes aeromag survey at Francoeur, Arntfield, Lac Fortune Gold Mines in Quebec
The property, which covers 293 hectares, includes two former gold mines and Globex said it has now completed a 25 metre line spaced aeromagnetic survey over the property.
The Silidor gold mine reportedly produced 2,959,091 tonnes grading 5.08 grams per ton (g/t) gold between 1990 and 1999. The New Marlon Gold mine generated 98,140 tonnes grading 6.14 g/t gold from 1947 to 1949. It was reported that New Marlon closed due to a low gold price, Globex noted.
On June 30, Globex revealed it had finished the 2,000-kilometer airborne survey at its Francoeur, Arntfield, Lac Fortune Gold Mines property in Beauchastel and Dasserat townships in Quebec, and was so pleased with the data that it flew over other properties.
"The initial mag maps are of excellent quality and more than meet our expectations that the detail provided by the survey will allow Globex to trace gold bearing horizons and structures in areas of overburden cover and predict displacement caused by faulting," the firm said in a brief statement.
Globex also told investors that it had decided to carry out airborne surveys of a "significant number of other Globex properties" over the next several months.
Contact the author at giles@proactiveinvestors.com