Globex Mining Enterprises Inc (CSE:GMX) (FRA:G1MN) (OTCQX:GLBXF) told shareholders Monday that it has acquired a 100% interest in the Bald Hill antimony property in Queens County of south-central New Brunswick.
The Bald Hill property, 40 kilometers (km) northwest of Sussex and about 60 km southeast of Fredericton, consists of 26 claims covering the Bald Hill antimony deposit and surrounding area. An additional eight claims adjoining Globex’s Devils Pike gold deposit property were also acquired.
The Bald Hill antimony zone was most recently explored by Rockport Mining Corp and surface trenching returned up to 43% antimony (Sb) over 2m and 2.90% Sb over 8.18m, the company said in a statement.
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In 2010, Globex noted, Conestoga-Rovers and Associates of Fredericton, New Brunswick produced a report titled “National Instrument 43-101 Technical Report on the Bald Hill Antimony Project, southern New-Brunswick, Canada, NTS Map Sheet 21G/09 and 21H/12 for Rockport Mining Corp. authored by Heather MacDonald, MSc., P.Geo.”
The report concluded: “Based upon 16 widely spaced drill holes totaling 3,554 metres and 609 assays, an antimony zone 450 metres in length was outlined including drill intersections of up to 11.7% Sb over 4.51 metres (core length).”
It added: “The potential tonnage and grade of a potential mineral deposit at the Bald Hill Property which is the target of further exploration. The potential quantity and grade is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.”
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