Globex Mining Enterprises Inc reported that it has acquired a large uranium land package by staking 66 claims totalling 3,590 hectares in DesHerbiers Township, Quebec.
The company said the newly acquired property was staked to cover numerous occurrences of low to moderate grade uranium mineralization exposed both in surface trenching and channel sampling, as well as reported in numerous drill holes over 57,663 metres drilled to date on the claims.
READ: Globex Mining acquires 2% royalty on gold and base metals bearing land package in Quebec
According to a 2011 technical report, the Double S Zone contains an indicated resource of 21.5 million tons grading 0.014% U308 (ASX:UTO) for 6.9 million contained pounds of uranium. The site also contains an inferred resource of 59.9 million tons grading 0.014% for 16.3 million contained pounds of uranium.
Just northwest of the Double S Zone, the Middle Zone contains an inferred resource of 52 million tonnes grading 0.012% U308 for 13.6 million contained pounds of uranium, and the TJ Zone boasts an inferred resource of 28.6 million tonnes grading 0.011% U308 for 7 million contained pounds of uranium.
Altogether, the three zones contain over 162 million tonnes for nearly 44 million pounds of uranium, according to Globex.
The Rouyn-Noranda, Quebec-based exploration company said that the property holds numerous other areas of uranium mineralization many with higher-grade assays in channel sampling and drill holes.
In addition, the company said many drill intersections within the resources reported above display somewhat higher uranium grades.
Globex has a diversified North American portfolio of mid-stage exploration, development and royalty properties containing precious and base metals.
The company explores for its own account and options many of its numerous projects to other companies which pay Globex cash, shares and a royalty and undertake extensive exploration in order to earn an interest in Globex's projects.
Contact Ritika at ritika@proactiveinvestors.com