Globex Mining Inc has informed shareholders of surface sampling and other exploration work on its Lac Testard royalty exploration claims located approximately 10 kilometers south of the main Troilus mine package.
The company disclosed in July 2020 that it had sold a package of 91 various claim groupings to Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF) for shares and a gross metal royalty.
The Lac Testard claim package consists of five claims in an L-shaped pattern and includes the Lac Testard West showing with reported historical grab samples of up to 41.14 gram per tonne (g/t) gold (Au), 378.42 g/t silver (Ag) and 0.38% Cuand chip samples assaying as follows:
- 30.60 g/t Au, 231.42 g/t Ag over 0.7 meters (m)
- 20.06 g/t Au, 265.20 g/t Ag over 0.4 m
- 11.22 g/t Au, 153.00 g/t Ag over 0.9 m
- 12.58 g/t Au, 53.18 g/t Ag over 1.2 m
Globex said surface sampling by Troilus has returned grab sample assays as follows:
- 203.0 g/t Au, 2,440 g/t Ag and 4.37% copper (Cu)
- 54.20 g/t Au
- 34.90 g/t Au
- 13.55 g/t Au
The company noted that these samples from outcrop are the highest to date ever reported in outcrop within the Frotet-Evans Greenstone Belt.
In other news, Starr Peak Mining Ltd has arranged for a third drill rig to be delivered to the NewMetal Globex royalty property to test high priority VTEM anomalies on the projected extension of the Perron East Gold Zone trend from Amex Exploration’s adjoining property to the west, the company said.
Shares of the Globex Mining ticked up to around 0.8% to C$1.17 each.
Contact Ritika at ritika@proactiveinvestors.com